UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

SCHEDULE 13G

Under the Securities Exchange Act of 1934

(Amendment No. )*

 

Richardson Electronics, Ltd.

(Name of Issuer)

 

Common Stock, $0.05 par value

(Title of Class of Securities)

 

763165107

(CUSIP Number)

 

January 2, 2020

(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. 763165107 Schedule 13G  

 

1

NAMES OF REPORTING PERSONS

 

Chain of Lakes Investment Fund, LLC

2

 

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)

 

(a) [ ]

(b) [ ]

3

 

SEC USE ONLY

 

4

CITIZENSHIP OR PLACE OF ORGANIZATION

Delaware

NUMBER OF SHARES

BENEFICIALLY

OWNED BY

EACH

REPORTING

PERSON WITH:

5

SOLE VOTING POWER

0

6

SHARED VOTING POWER

680,832

7

SOLE DISPOSITIVE POWER

0

8

SHARED DISPOSITIVE POWER

680,832

9

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

680,832

10 CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)      [  ]
11

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

6.2%(1)

12

TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)

PN

         

(1) Percentage calculation based on 11,038,235 shares of Common Stock, $0.05 par value per share, outstanding as of January 7, 2020, as reported in the Form 10-Q filed by Richardson Electronics, Ltd. for the quarterly period ended November 30, 2019.

 

 

 

CUSIP NO. 763165107 Schedule 13G  

 

1

NAMES OF REPORTING PERSONS

 

Christopher B. Woodruff

2

 

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)

 

(a)       [ ]

(b)       [ ]

3

 

SEC USE ONLY

 

4

CITIZENSHIP OR PLACE OF ORGANIZATION

United States of America

NUMBER OF SHARES

BENEFICIALLY

OWNED BY

EACH

REPORTING

PERSON WITH:

5

SOLE VOTING POWER

0

6

SHARED VOTING POWER

680,832 (1)

7

SOLE DISPOSITIVE POWER

0

8

SHARED DISPOSITIVE POWER

680,832 (1)

9

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

680,832(1)

10 CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)       [  ]
11

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

6.2% (2)

12

TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)

IN

         

(1)  Mr. Woodruff is deemed to have shared voting and dispositive power over the shares of the Company held by Chain of Lakes Investment Fund, LLC ("COLIF") as a result of his position as President of COLIF. Mr. Woodruff disclaims beneficial ownership of the Common Stock owned by COLIF.
(2) Percentage calculation based on 11,038,235 shares of Common Stock, $0.05 par value per share, outstanding as of January 7, 2020, as reported in the Form 10-Q filed by Richardson Electronics, Ltd. for the quarterly period ended November 30, 2019.

 

 

 

 

Item 1(a) Name of Issuer:
   
  Richardson Electronics, Ltd.
   
Item 1(b) Address of Issuer’s Principal Executive Offices:
   
  40W267 Keslinger Road, P.O. Box 393
  LaFox, Illinois 60147
   
Item 2(a) Name of Person Filing:
   
  Chain of Lakes Investment Fund, LLC
  Christopher B. Woodruff
   
Item 2(b) Address or Principal Business Office or, if none, Residence:
   
  Chain of Lakes Investment Fund, LLC
  8101 34th Avenue South, Suite 400
  Bloomington, Minnesota 55425
   
  Christopher B. Woodruff
  c/o Chain of Lakes Investment Fund, LLC
  8101 34th Avenue South, Suite 400
  Bloomington, Minnesota 55425
   
Item 2(c) Citizenship:
   
  Chain of Lakes Investment Fund, LLC – Delaware
  Christopher B. Woodruff – United States of America
   
Item 2(d) Title of Class of Securities:
   
  Common Stock
   
Item 2(e) CUSIP Number:
   
  763165107
   
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:
       
  (a) Amount beneficially owned:
       
    Chain of Lakes Investment Fund, LLC – 680,832
    Christopher B. Woodruff – 680,832
       
  (b) Percent of class:
       
    Chain of Lakes Investment Fund, LLC – 6.2%
    Christopher B. Woodruff – 6.2%
       
    The above percentage calculation is based on 11,038,235 shares of Common Stock, $0.05 par value per share, outstanding as of January 7, 2020, as reported in the Form 10-Q filed by Richardson Electronics, Ltd. for the quarterly period ended November 30, 2019.
       
  (c) Number of shares as to which the Reporting Person has:
       
    (i) sole power to vote or to direct the vote:
       
      Chain of Lakes Investment Fund, LLC – 0
      Christopher B. Woodruff – 0
       
    (ii) shared power to vote or to direct the vote:
       
      Chain of Lakes Investment Fund, LLC – 680,832
      Christopher B. Woodruff – 680,832*

 

 

 

    (iii) sole power to dispose or to direct the disposition of:
       
      Chain of Lakes Investment Fund, LLC – 0
      Christopher B. Woodruff – 0
       
    (iv) shared power to dispose or to direct the disposition of:
       
      Chain of Lakes Investment Fund, LLC – 680,832
      Christopher B. Woodruff – 680,832*
       
   

*

 

Mr. Woodruff is deemed to have shared voting and dispositive power over the shares of the Company held by Chain of Lakes Investment Fund, LLC ("COLIF") as a result of his position as President of COLIF. Mr. Woodruff disclaims beneficial ownership of the Common Stock owned by COLIF.

 

Item 5 Ownership of Five Percent or Less of a Class:
   
  N/A
   
Item 6 Ownership of More Than Five Percent on Behalf of Another Person:
   
  N/A
   
Item 7 Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person:
   
  N/A
   
Item 8 Identification and Classification of Members of the Group:
   
  N/A
   
Item 9 Notice of Dissolution of Group:
   
  N/A
   
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.

 

 

 

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: January 10, 2020

 

CHAIN OF LAKES INVESTMENT FUND, LLC

 

By: /s/ Christopher B. Woodruff  
Name: Christopher B. Woodruff  
Title: President  
     
/s/ Christopher B. Woodruff  
Christopher B. Woodruff  

 

 

 

Exhibit A

 

Joint Filing Agreement

 

The undersigned hereby agree that a single Schedule 13G (or any amendment thereto) relating to the Common Stock of Richardson Electronics, Ltd. shall be filed on behalf of each of the undersigned and that this Agreement shall be filed as an exhibit to such Schedule 13G.

 

Dated: January 10, 2020

 

CHAIN OF LAKES INVESTMENT FUND, LLC

 

By: /s/ Christopher B. Woodruff  
Name: Christopher B. Woodruff  
Title: President  
     
/s/ Christopher B. Woodruff  
Christopher B. Woodruff  

 

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