SCHEDULE 13G: W.E. Rosenthal Entities Disclose Significant 9.99% Stake in Stryve Foods, Inc. Class A Common Stock

W.E. Rosenthal Interests, Ltd. and related entities have filed a Schedule 13G, disclosing a combined beneficial ownership of up to 9.99% of Stryve Foods, Inc.'s Class A Common Stock, subject to a beneficial ownership limitation.

Summary

• W.E. Rosenthal Interests, Ltd. (WERIL), its general partner WER GP, LLC (WER), and Benjamin Aaron Rosenthal each beneficially own 469,171 shares of Stryve Foods, Inc. Class A Common Stock, representing 9.99% of the class.
• This ownership for WERIL, WER, and Benjamin Aaron Rosenthal is subject to a 'Blocker' provision, which limits the conversion of preferred stock and warrants if it results in beneficial ownership exceeding 9.99% of the total outstanding common stock.
• W.E. Rosenthal Issue Trust (WERIT) and its trustee, William Edward Rosenthal, each beneficially own 233,840 shares, representing 5.89% of the class, including shares issuable upon conversion of preferred stock and warrants.
• Suite 201 Partners, LLC and its manager, Steven Dale Hudgins, each beneficially own 46,767 shares, representing 1.24% of the class, including shares issuable upon conversion of preferred stock and warrants.
• The total estimated outstanding shares of Stryve Foods, Inc. Class A Common Stock as of May 30, 2025, is 4,696,409 shares, calculated from 3,736,952 shares outstanding as of November 13, 2024, plus 959,457 shares convertible or exercisable by the Reporting Persons within 60 days.
• The reporting persons have entered into a Joint Filing Agreement and may be deemed to constitute a 'group' for purposes of Section 13(d)(3) of the Exchange Act.

Sentiment

Score: 5

Explanation: The document is a factual, legally required disclosure of beneficial ownership, inherently neutral in sentiment. It provides transparency regarding significant shareholder positions but does not convey positive or negative news about the company's operations or financial performance.

Risks

• The 'Blocker' provision in the agreements governing preferred stock and warrants prevents the conversion or exercise of such securities into common stock if it would result in the holder, together with affiliates and any group, beneficially owning more than 9.99% of the total outstanding common stock.
• While certain reporting persons (WERIT, Suite 201 Partners, William Edward Rosenthal, and Steven Dale Hudgins) are not individually reduced by the Blocker, the provision applies to a 'group' on an aggregate basis, which may limit their collective ability to convert or exercise their securities.

Future Outlook

This Schedule 13G filing is a disclosure of current beneficial ownership and does not contain forward-looking statements or guidance regarding the issuer's future performance or strategic plans.

Management Comments

• The filing includes certifications from the reporting persons stating that the securities were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer, other than activities solely in connection with a nomination under Rule 14a-11.

Industry Context

This filing is a standard disclosure of significant beneficial ownership and does not provide information related to broader industry trends or competitive landscape for Stryve Foods, Inc.

Corporate Governance

Related Party Transactions

• The filing details the beneficial ownership of Stryve Foods, Inc. by a group of related entities and individuals, including W.E. Rosenthal Interests, Ltd., WER GP, LLC, W.E. Rosenthal Issue Trust, Suite 201 Partners, LLC, William Edward Rosenthal, Benjamin Aaron Rosenthal, and Steven Dale Hudgins, who may be deemed to constitute a 'group' for SEC reporting purposes.

Stakeholder Impact

• Shareholders: Provides transparency regarding significant ownership stakes in Stryve Foods, Inc., which can influence market perception and trading activity.
• Management: Awareness of a significant ownership group and their beneficial ownership limitations (Blocker) is important for corporate strategy and investor relations.

Next Steps

• The reporting persons will continue to file required SEC forms (e.g., Forms 3, 4, 5, 13D, 13G, 144) as necessary, as outlined in the Power of Attorney documents.

Key Dates

Keywords

Stryve Foods Inc., Class A Common Stock, Schedule 13G, Beneficial Ownership, W.E. Rosenthal Interests Ltd., WER GP LLC, W.E. Rosenthal Issue Trust, Suite 201 Partners LLC, William Edward Rosenthal, Benjamin Aaron Rosenthal, Steven Dale Hudgins, SEC Filing, Investment, Shareholder, Blocker Provision, Preferred Stock, Warrants