SCHEDULE 13G: Nack Y. Paek Discloses Significant 5.07% Stake in MetroCity Bankshares, Inc.
Beneficial Ownership Disclosure
Nack Y. Paek has reported a beneficial ownership of 5.07% in MetroCity Bankshares, Inc., totaling 1,288,554 shares of common stock as of December 31, 2024.
Summary
- Nack Y. Paek, an individual, has filed a Schedule 13G indicating beneficial ownership of common stock in MetroCity Bankshares, Inc.
- As of December 31, 2024, Mr. Paek beneficially owns an aggregate of 1,288,554 shares of MetroCity Bankshares, Inc. common stock.
- This ownership represents 5.07% of the total outstanding common stock of MetroCity Bankshares, Inc.
- The percentage calculation is based on 25,402,782 shares of common stock outstanding as of December 31, 2024, as reported in the Issuer's Form 8-K filed on January 21, 2025.
- Mr. Paek holds sole voting power and sole dispositive power over 1,268,554 shares.
- Mr. Paek holds shared voting power and shared dispositive power over 20,000 shares.
Sentiment
Score: 6
Explanation: The sentiment is neutral to slightly positive. A significant individual stake can be viewed as a sign of confidence, but the filing itself is purely a disclosure and does not contain operational or financial performance updates.
Positives
- The disclosure of a significant individual stake by Nack Y. Paek could be interpreted as a vote of confidence in MetroCity Bankshares, Inc.'s future prospects.
Future Outlook
This Schedule 13G filing is a disclosure of current beneficial ownership and does not contain forward-looking statements or guidance regarding the company's future outlook.
Industry Context
MetroCity Bankshares, Inc. operates within the banking sector. This filing indicates a significant individual ownership stake, which is a common occurrence in publicly traded companies, particularly in the financial services industry where long-term individual investors or insiders may hold substantial positions.
Stakeholder Impact
- Shareholders: Provides transparency regarding a significant individual shareholder's stake in the company, which can influence investor perception and potentially liquidity.
Key Dates
| Date | Description |
|---|---|
| 12/31/2024 | Date of event which requires the filing of this statement, reflecting the beneficial ownership position. |
| 01/21/2025 | Date MetroCity Bankshares, Inc. filed its Form 8-K (Exhibit 99.1) reporting 25,402,782 shares outstanding, used for the ownership percentage calculation. |
| 02/04/2025 | Date the Schedule 13G statement was signed and filed by Nack Y. Paek. |
Keywords
MetroCity Bankshares, Nack Y. Paek, Schedule 13G, beneficial ownership, common stock, banking sector, financial services, equity stake
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