Form SC 13G - Statement of acquisition of beneficial ownership by individuals
June 30 2023 - 2:46PM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. __)*
LIFECORE BIOMEDICAL, INC.
(Name of Issuer)
Common Stock, par value $0.001
(Title of Class of Securities)
514766104
(CUSIP Number)
June 21, 2023
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this
Schedule is filed:
¨ Rule 13d-1(b)
x Rule 13d-1(c)
¨ Rule 13d-1(d)
* The remainder of this cover page shall be filled
out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent
amendment containing information which would alter the disclosures provided in a prior cover page.
The information required in the remainder of this
cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”)
or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see
the Notes).
CUSIP No. 514766104
| 1. | Names of Reporting Persons |
Scott Miller
| 2. | Check the Appropriate Box if a Member of a Group (See Instructions) |
| 4. | Citizenship or Place of Organization |
USA
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY EACH
REPORTING
PERSON WITH: |
5. |
SOLE VOTING POWER |
1,902,639 |
6. |
SHARED VOTING POWER |
0 |
7. |
SOLE DISPOSITIVE POWER |
1,902,639 |
8. |
SHARED DISPOSITIVE POWER |
0 |
| 9. | Aggregate Amount Beneficially Owned by Each Reporting Person |
1,902,639
| 10. | Check if the Aggregate Amount in Row (9) Excludes Certain Shares
(See Instructions) ¨ |
| 11. | Percent of Class Represented by Amount in Row (9) |
6.3%
| 12. | Type of Reporting Person (See Instructions) |
IN
| Note: | Ownership information above is as of the end of business on June 29,
2023, the business day before the date of filing of this Schedule 13G.
|
CUSIP No. 514766104
| 1. | Names of Reporting Persons |
Greenhaven Road Investment Management, LP
| 2. | Check the Appropriate Box if a Member of a Group (See Instructions) |
| 4. | Citizenship or Place of Organization |
Delaware, USA
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY EACH
REPORTING
PERSON WITH: |
5. |
SOLE VOTING POWER |
1,902,639 |
6. |
SHARED VOTING POWER |
0 |
7. |
SOLE DISPOSITIVE POWER |
1,902,639 |
8. |
SHARED DISPOSITIVE POWER |
0 |
| 9. | Aggregate Amount Beneficially Owned by Each Reporting Person |
1,902,639
| 10. | Check if the Aggregate Amount in Row (9) Excludes Certain Shares
(See Instructions) ¨ |
| 11. | Percent of Class Represented by Amount in Row (9) |
6.3%
| 12. | Type of Reporting Person (See Instructions) |
PN
| Note: | Ownership information above is as of the end of business on June 29,
2023, the business day before the date of filing of this Schedule 13G.
|
CUSIP No. 514766104
| 1. | Names of Reporting Persons |
MVM Funds, LLC
| 2. | Check the Appropriate Box if a Member of a Group (See Instructions) |
| 4. | Citizenship or Place of Organization |
New York, USA
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY EACH
REPORTING
PERSON WITH: |
5. |
SOLE VOTING POWER |
1,902,639 |
6. |
SHARED VOTING POWER |
0 |
7. |
SOLE DISPOSITIVE POWER |
1,902,639 |
8. |
SHARED DISPOSITIVE POWER |
0 |
| 9. | Aggregate Amount Beneficially Owned by Each Reporting Person |
1,902,639
| 10. | Check if the Aggregate Amount in Row (9) Excludes Certain Shares
(See Instructions) ¨ |
| 11. | Percent of Class Represented by Amount in Row (9) |
6.3%
| 12. | Type of Reporting Person (See Instructions) |
OO
| Note: | Ownership information above is as of the end of business on June 29,
2023, the business day before the date of filing of this Schedule 13G.
|
CUSIP No. 514766104
| 1. | Names of Reporting Persons |
Greenhaven Road Capital Fund 1, L.P.
| 2. | Check the Appropriate Box if a Member of a Group (See Instructions) |
| 4. | Citizenship or Place of Organization |
Delaware, USA
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY EACH
REPORTING
PERSON WITH: |
5. |
SOLE VOTING POWER |
872,741 |
6. |
SHARED VOTING POWER |
0 |
7. |
SOLE DISPOSITIVE POWER |
872,741 |
8. |
SHARED DISPOSITIVE POWER |
0 |
| 9. | Aggregate Amount Beneficially Owned by Each Reporting Person |
872,741
| 10. | Check if the Aggregate Amount in Row (9) Excludes Certain Shares
(See Instructions) ¨ |
| 11. | Percent of Class Represented by Amount in Row (9) |
2.9%
| 12. | Type of Reporting Person (See Instructions) |
PN
| Note: | Ownership information above is as of the end of business on June 29,
2023, the business day before the date of filing of this Schedule 13G.
|
CUSIP No. 514766104
| 1. | Names of Reporting Persons |
Greenhaven Road Capital Fund 2, L.P.
| 2. | Check the Appropriate Box if a Member of a Group (See Instructions) |
| 4. | Citizenship or Place of Organization |
Delaware, USA
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY EACH
REPORTING
PERSON WITH: |
5. |
SOLE VOTING POWER |
1,029,898 |
6. |
SHARED VOTING POWER |
0 |
7. |
SOLE DISPOSITIVE POWER |
1,029,898 |
8. |
SHARED DISPOSITIVE POWER |
0 |
| 9. | Aggregate Amount Beneficially Owned by Each Reporting Person |
1,029,898
| 10. | Check if the Aggregate Amount in Row (9) Excludes Certain Shares
(See Instructions) ¨ |
| 11. | Percent of Class Represented by Amount in Row (9) |
3.4%
| 12. | Type of Reporting Person (See Instructions) |
PN
| Note: | Ownership information above is as of the end of business on June 29,
2023, the business day before the date of filing of this Schedule 13G.
|
Item 1.
| (a) | The name of the issuer is Lifecore Biomedical, Inc. (the “Issuer”). |
| (b) | The principal executive offices of the Issuer are located at 3515 Lyman Boulevard, Chaska, Minnesota, 55318, United States. |
Item 2.
| (a) | This Schedule 13G (this “Statement” or this “Schedule 13G”) is being
filed by: (1) Scott Miller; (2) Greenhaven Road Investment Management, LP, a Delaware limited partnership (the “Investment Manager”);
(3) MVM Funds, LLC, a New York limited liability company (the “General Partner”); (4) Greenhaven Road Capital Fund
1, L.P., a Delaware limited partnership (“Fund 1”); and (5) Greenhaven Road Capital Fund 2, L.P., a Delaware limited
partnership (“Fund 2”, and together with Fund 1, the “Funds”) (all of the foregoing, collectively,
the “Reporting Persons”). Each Fund is a private investment vehicle. The Funds directly beneficially own the Common
Stock (as defined below) reported in this Statement. The Investment Manager is the investment manager of the Funds. The General Partner
is the general partner of the Funds and the Investment Manager. Scott Miller is the controlling person of the General Partner. Scott Miller,
the Investment Manager and the General Partner may be deemed to beneficially own the Common Stock directly beneficially owned by the Funds.
Each Reporting Person disclaims beneficial ownership with respect to any shares other than the shares directly beneficially owned by such
Reporting Person. |
| (b) | The principal business office of the Reporting Persons is c/o Royce & Associates LLC, 8 Sound Shore
Drive, Suite 190, Greenwich, CT 06830. |
| (c) | For citizenship information see Item 4 of the cover page of each Reporting Person. |
| (d) | This Statement relates to the Common Stock, par value $0.001 per share, of the Issuer (the “Common
Stock”). |
| (e) | The CUSIP Number of the Common Stock is 514766104. |
Item 3. If this statement is filed pursuant
to 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a) |
¨ |
Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o). |
(b) |
¨ |
Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c). |
(c) |
¨ |
Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c). |
(d) |
¨ |
Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8). |
(e) |
¨ |
An investment adviser in accordance with 240.13d-1(b)(1)(ii)(E); |
(f) |
¨ |
An employee benefit plan or endowment fund in accordance with 240.13d-1(b)(1)(ii)(F); |
(g) |
¨ |
A parent holding company or control person in accordance with 240.13d-1(b)(1)(ii)(G); |
(h) |
¨ |
A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813); |
(i) |
¨ |
A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3); |
(j) |
¨ |
A non-U.S. institution in accordance with §240.13d-1(b)(1)(ii)(J); |
(k) |
¨ |
Group, in accordance with §240.13d-1(b)(1)(ii)(K). |
If filing as a non-U.S. institution in accordance
with §240.13d-1(b)(1)(ii)(J), please specify the type of institution:
Item 4. Ownership.
See Items 5-9 and 11 on the cover page for each
Reporting Person, and Item 2, which information is given as of the end of business on June 29, 2023, the business day before the date
of filing of this Schedule 13G.
As of the Event Date of June 21, 2023, the beneficial
ownership of the Reporting Persons was as follows:
|
· |
Fund 1 directly beneficially owned 816,313 shares of Common Stock, representing 2.7% of all of the outstanding shares of Common Stock. |
|
|
|
|
· |
Fund 2 directly beneficially owned 963,306 shares of Common Stock, representing 3.2% of all of the outstanding shares of Common Stock. |
|
|
|
|
· |
Collectively, the Funds directly beneficially owned 1,779,619 shares of Common Stock, representing 5.9% of all of the outstanding shares of Common Stock. |
The percentages of beneficial ownership
contained herein are based on 30,322,169 shares of the Issuer’s common stock outstanding as of May 26, 2023, as disclosed
in the Issuer’s Form 10-Q filed with the Securities and Exchange Commission on June 2, 2023.
Item 5. Ownership of Five Percent or Less of a Class.
If this statement is being filed to report the fact that as of the
date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the
following: ¨
Item 6. Ownership of More than Five Percent on Behalf of Another
Person.
Not applicable.
Item 7. Identification and Classification of the Subsidiary Which
Acquired the Security Being Reported on By the Parent Holding Company.
Not applicable.
Item 8. Identification and Classification of Members of the Group.
Not applicable.
Item 9. Notice of Dissolution of Group.
Not applicable.
Item 10. Certification.
| (c) | By signing below I certify that, to the best of my knowledge and belief, the securities referred to above
were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities
and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other
than activities solely in connection with a nomination under §240.14a-11. |
SIGNATURE
After reasonable inquiry and to the best of my
knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
Dated: June 30, 2023
Scott Miller
Greenhaven Road Investment Management, LP
MVM Funds, LLC
Greenhaven Road Capital Fund 1, L.P.
Greenhaven Road Capital Fund 2, L.P.
Scott Miller, for himself and as the Managing Member of the General
Partner (for itself and on
behalf of the Funds and the Investment Manager).
EXHIBIT INDEX
Exhibit No. |
Document |
|
|
1 |
Joint Filing Agreement |
Exhibit 1
JOINT FILING AGREEMENT
In accordance with Rule 13d-1(k) under the Securities
Exchange Act of 1934, as amended, the persons named below agree to the joint filing on behalf of each of them of a statement on Schedule
13G (including amendments thereto) with respect to the Common Stock, par value $0.001 per share, of Lifecore Biomedical, Inc., and further
agree that this Joint Filing Agreement be included as an Exhibit to such joint filing. In evidence thereof, the undersigned hereby execute
this Agreement.
Dated: June 30, 2023
Scott Miller
Greenhaven Road Investment Management, LP
MVM Funds, LLC
Greenhaven Road Capital Fund 1, L.P.
Greenhaven Road Capital Fund 2, L.P.
Scott Miller, for himself and as the
Managing Member of the General Partner (for itself and on
behalf of the Funds and the Investment Manager).
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