SCHEDULE: Potomac Capital Amends XCel Brands Stake to 8.6%

Potomac Capital Management and related entities have filed an amendment to their Schedule 13G, disclosing a beneficial ownership of 8.6% in XCel Brands, Inc.

Summary

• Potomac Capital Management Inc., Paul J. Solit, Potomac Capital Management V LLC, and Potomac Capital Partners V, LP collectively reported beneficial ownership in XCel Brands, Inc.
• The aggregate amount beneficially owned by Potomac Capital Management Inc., Potomac Capital Management V LLC, and Potomac Capital Partners V, LP is 408,400 shares each.
• Paul J. Solit beneficially owns 409,350 shares.
• This represents 8.6% of XCel Brands, Inc.'s Common Stock for each reporting person.
• The percentage of beneficial ownership is based on 4,762,360 shares of Common Stock outstanding as of August 7, 2025, as reported by the Issuer in its Form 10-Q filed on August 14, 2025.
• The reported shares include 408,400 shares held directly by Potomac Capital Partners V, LP (the Fund) and an additional 950 shares held in accounts in the names of Mr. Solit's children.
• Paul J. Solit is the principal and controlling person of Potomac Capital Management Inc. (the Investment Manager) and Potomac Capital Management V LLC (the General Partner).

Sentiment

Score: 5

Explanation: A Schedule 13G filing is a routine disclosure of beneficial ownership, generally neutral in sentiment. This amendment updates an existing position, providing transparency on a significant stake.

Future Outlook

NA

Industry Context

NA

Stakeholder Impact

• Shareholders: Provides transparency regarding significant institutional and individual ownership, which can influence market perception and corporate governance dynamics.

Key Dates

Keywords

XCel Brands, Potomac Capital Management, Paul J. Solit, Beneficial Ownership, Schedule 13G, Common Stock, Investment Management