UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

SCHEDULE 13G

 

Under the Securities Exchange Act of 1934*

 
World Acceptance Corporation

(Name of Issuer)

 
Common Stock

(Title of Class of Securities)

 
981419104

(CUSIP Number)

 
  December 31, 2017
(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)
  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). 603,397

 

 

 

 

CUSIP No . 981419104   Page 2 of 7

 

1

NAME OF REPORTING PERSONS
CAS Investment Partners, LLC

 

I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
(ENTITIES ONLY) EIN: 46-0901365

 
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a) ☐ 

(b) ☐

3 SEC USE ONLY  
4

CITIZENSHIP OR PLACE OF ORGANIZATION 

Delaware, United State of America

 

NUMBER OF
SHARES 

BENEFICIALLY
OWNED BY 

EACH
REPORTING 

PERSON
WITH:

5

SOLE VOTING 

602,791 

 
6

SHARED VOTING POWER 

 
7

SOLE DISPOSITIVE POWER 

602,791 

 
8

SHARED DISPOSITIVE POWER 

 
9

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 

602,791 

 
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 9 EXCLUDES CERTAIN SHARES
11

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 

6.80*+ 

 
12

TYPE OF REPORTING PERSON 

IA

 
         

 

 

*CAS Investment Partners As of December 31, 2018, Sosin Partners, L.P. (the “Fund”) owned an aggregate of 602,791 shares of Common Stock of the Issuer. CAS Investment Partners, LLC, is the investment manager of the Fund in which such shares referred to above are held. As a result, CAS Investment Partners, LLC, possesses the power to vote and dispose or direct the disposition of all the shares owned by the Fund. Thus, CAS Investment Partners, LLC, may be deemed to beneficially own a total of 602,791 shares.

 

+ Based on a total of 8,856,554 shares outstanding as of November 1, 2017, as set forth in the Issuer’s most recent Form 10-Q, filed on November 8, 2017.

 

 

CUSIP No . 981419104   Page 3 of 7

 

1

NAME OF REPORTING PERSONS
Sosin Partners, L.P.

 

I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
(ENTITIES ONLY) EIN: 46-0970829

 
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a) ☐

(b) ☐

3 SEC USE ONLY  
4

CITIZENSHIP OR PLACE OF ORGANIZATION

Delaware, United State of America

 

NUMBER OF
SHARES

BENEFICIALLY
OWNED BY 

EACH
REPORTING 

PERSON
WITH:

5

SOLE VOTING

602,791

 
6

SHARED VOTING POWER

0

 
7

SOLE DISPOSITIVE POWER

602,791

 
8

SHARED DISPOSITIVE POWER

0

 
9

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

602,791

 
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 9 EXCLUDES CERTAIN SHARES
11

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

6.80*+

 
12

TYPE OF REPORTING PERSON

PN

 
         

 

 

+ Based on a total of 8,856,554 shares outstanding as of November 1, 2017, as set forth in the Issuer’s most recent Form 10-Q, filed on November 8, 2017.

 

 

CUSIP No . 981419104   Page 4 of 7

 

1

NAME OF REPORTING PERSONS
Clifford Sosin

 

I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
(ENTITIES ONLY) EIN:

 
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a) ☐

(b) ☐

3 SEC USE ONLY  
4

CITIZENSHIP OR PLACE OF ORGANIZATION

United State of America

 

NUMBER OF
SHARES 

BENEFICIALLY
OWNED BY 

EACH
REPORTING 

PERSON
WITH:

5

SOLE VOTING

606

 
6

SHARED VOTING POWER

602,791*

 
7

SOLE DISPOSITIVE POWER

606

 
8

SHARED DISPOSITIVE POWER

602,791*

 
9

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

603,397*

 
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 9 EXCLUDES CERTAIN SHARES
11

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

6.81*+

 
12

TYPE OF REPORTING PERSON

IN

 
         

 

 

*Mr. Sosin is the managing member of CAS Investment Partners, LLC. As a result, Mr. Sosin possesses the power to vote and dispose or direct the disposition of all the shares beneficially owned by CAS Investment Partners, LLC as investment manager to the Fund. Mr. Sosin disclaims beneficial ownership of any of the shares held by the Fund.

 

+ Based on a total of 8,856,554 shares outstanding as of November 1, 2017, as set forth in the Issuer’s most recent Form 10-Q, filed on November 8, 2017. 

 

 

CUSIP No . 981419104   Page 5 of 7

 

Item 1(a).   Name of Issuer: World Acceptance Corporation
     
Item 1(b).   Address of Issuer’s Principal Executive Offices: 108 Frederick Street
      Greenville, South Carolina 29607
     
Item 2(a).  

Name of Person Filing:    CAS Investment Partners, LLC

This Schedule is being filed by CAS Investments Partners, LLC with respect to shares of common stock of the above-name issuer owned by CAS Investments Partners, LLC. Clifford Sosin is the Managing Member of CAS Investment Partners, LLC

     
Item 2(b).   Address of Principal Business Office or, if None, Residence:
    8 Wright Street, 1 st FL Westport, Connecticut 06880
     
Item 2(c).   Citizenship:
    United States
     
Item 2(d).   Title of Class of Securities:
    Common Stock
     
Item 2(e).   CUSIP Number: 981419104
     
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);

 

 

CUSIP No . 981419104   Page 6 of 7

 

  (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)(ii)(G);
       
  (h) A savings association 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 (15 U.S.C. 80a-3);
       
  (j) Group, in accordance with §240.13d-1(b)(1)(ii)(J).
       
Item 4. Ownership.
   
  Provide the following information regarding the aggregate number and percentage of the class of securities of the issuer identified in Item 1.
   
  (a) Amount beneficially owned: *
   

CAS Investment Partners, LLC - 602,791

Sosin Partners, L.P. - 602,791

Clifford Sosin - 603,397*

     
  (b) Percent of class: 6.80%*+
   

CAS Investment Partners, LLC - 6.80*%

Sosin Partners, L.P. - 6.80*%

Clifford Sosin - 6.81*%

     
  (c) Number of shares as to which such person has:
     
    (i) Sole power to vote or to direct the vote:  
     

CAS Investment Partners, LLC – 0

Sosin Partners, L.P. - 0

Clifford Sosin - 606*

       
    (ii) Shared power to vote or to direct the vote:  
     

CAS Investment Partners, LLC - 602,791

Sosin Partners, L.P. - 602,791

Clifford Sosin - 603,397*

       
    (iii) Sole power to dispose or to direct the disposition of:
     

CAS Investment Partners, LLC – 0

Sosin Partners, L.P. - 0

Clifford Sosin - 606*

       
    (iv) Shared power to dispose or to direct the disposition of:
     

CAS Investment Partners, LLC - 602,791

Sosin Partners, L.P. - 602,791

Clifford Sosin - 603,397*

       
*Mr. Sosin is the managing member of CAS Investment Partners, LLC. As a result, Mr. Sosin possesses the power to vote and dispose or direct the disposition of all the shares beneficially owned by CAS Investment Partners, LLC as investment manager to the Fund. Mr. Sosin disclaims beneficial ownership of any of the shares held by the Fund.

 

 

CUSIP No . 981419104   Page 7 of 7

 

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 or Control Person.
  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.

 

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.

 

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.

 

  Date: February 14, 2018
   
  Signature: /s/  Clifford Sosin
  Name: Clifford Sosin
     
 

CAS INVESTMENT PARTNERS, LLC 

   
  Date: February 14, 2018
     
  By: /s/  Clifford Sosin
  Name: Clifford Sosin
  Title: Managing Member
     
 

SOSIN PARTNERS, L.P. 

   
  Date: February 14, 2018
     
  By: /s/  Clifford Sosin
  Name: Clifford Sosin
  Title: Managing Member

 

 

 

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