SCHEDULE 13D/A: 22NW Fund Reduces Stake in Lifecore Biomedical to 7.49% Following Significant Share Sales
Schedule 13D Amendment
22NW Fund, LP, a major investor in Lifecore Biomedical, Inc., has reduced its beneficial ownership to 7.49% of the company's common stock after selling over 1.49 million shares in the open market.
Summary
- 22NW Fund, LP, along with its affiliates and key personnel (22NW, LP, 22NW Fund GP, LLC, 22NW GP, Inc., Aron R. English, Bryson O. Hirai-Hadley, and Nathaniel Calloway), collectively beneficially own 2,975,398 shares of Lifecore Biomedical, Inc. common stock.
- This aggregate beneficial ownership represents approximately 7.49% of the total outstanding shares of Lifecore Biomedical.
- The percentage is calculated based on 39,736,549 total shares outstanding, which includes 37,025,331 shares of common stock as of March 27, 2025, and an additional 2,711,218 shares issuable upon the conversion of Series A Preferred Stock within 60 days.
- In the past sixty days, 22NW Fund, LP sold a total of 1,490,981 shares of Lifecore Biomedical's common stock in open market transactions.
- This filing is Amendment No. 7 to the original Schedule 13D filed on January 10, 2023, reflecting the updated ownership position.
Sentiment
Score: 5
Explanation: The document is a factual regulatory filing reporting a change in beneficial ownership due to share sales. While the reduction in stake by a major investor could be perceived negatively by the market, the document itself is neutral in tone and does not provide performance-related information.
Positives
- NA
Negatives
- 22NW Fund, LP, a significant beneficial owner, sold 1,490,981 shares of the Issuer's common stock in the open market over the past sixty days, reducing their stake from a previously higher percentage to 7.49%.
Risks
- NA
Future Outlook
This Schedule 13D amendment primarily reports a change in beneficial ownership by an investor group and does not contain forward-looking statements or guidance from Lifecore Biomedical, Inc. or the reporting persons regarding the company's future performance or strategic direction.
Industry Context
This filing is a routine regulatory disclosure by an investor group, 22NW Fund, LP, detailing changes in their ownership stake in Lifecore Biomedical, Inc. It does not provide broader industry trends or competitive analysis.
Stakeholder Impact
- Shareholders: The reduction in stake by a significant investor (22NW Fund, LP) could influence market perception and potentially impact the company's stock price, as it may signal a change in confidence or investment strategy by a major holder.
Key Dates
| Date | Description |
|---|---|
| 2023-01-10 | Original Schedule 13D filing date by the undersigned. |
| 2023-06-28 | Previous amendment date to Schedule 13D. |
| 2024-02-29 | Previous amendment date to Schedule 13D. |
| 2024-05-20 | Previous amendment date to Schedule 13D. |
| 2024-06-11 | Previous amendment date to Schedule 13D. |
| 2024-07-01 | Previous amendment date to Schedule 13D. |
| 2024-12-26 | Previous amendment date to Schedule 13D. |
| 2025-03-27 | Date as of which 37,025,331 shares of Common Stock were outstanding, as reported in the Issuer's Quarterly Report on Form 10-Q. |
| 2025-04-03 | Date Lifecore Biomedical, Inc. filed its Quarterly Report on Form 10-Q with the SEC. |
| 2025-05-27 | Date of event which requires filing of this statement (Amendment No. 7). |
| 2025-05-29 | Signature date of the Schedule 13D Amendment No. 7. |
Keywords
Lifecore Biomedical, 22NW Fund, Schedule 13D, Beneficial Ownership, Common Stock, Series A Preferred Stock, Share Sales, SEC Filing, Investor Activity
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