Insider filing report for Changes in Beneficial Ownership
- Schedule 13G & 13D forms are used to report a party's ownership of stock which exceeds 5% of a company's total stock issue.
- Schedule 13G is a shorter version of Schedule 13D with fewer reporting requirements.
"Insiders might sell their shares for any number of reasons, but they buy them for only one: they think the price will rise"
- Peter Lynch
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- Peter Lynch
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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549 |
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 6)*
|
MEDALLION FINANCIAL CORP (Name of Issuer) |
Common Stock, $0.01 par value per share (Title of Class of Securities) |
583928106 (CUSIP Number) |
Kenneth Orr KORR Acquisitions Group, Inc., 1400 Old Country Road, Suite 305 Westbury, NY, 11590 855-567-7858 Andrew M. Freedman, Esq. Olshan Frome Wolosky LLP, 1325 Avenue of the Americas New York, NY, 10019 212-451-2250 (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) |
12/31/2024 (Date of Event Which Requires Filing of This Statement) |
If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.
The information required on 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).
SCHEDULE 13D
|
| CUSIP No. | 583928106 |
| 1 |
Name of reporting person
KORR Value L.P. | ||||||||
| 2 | Check the appropriate box if a member of a Group (See Instructions)
(a)
(b)
| ||||||||
| 3 | SEC use only | ||||||||
| 4 |
Source of funds (See Instructions)
WC | ||||||||
| 5 |
Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)
| ||||||||
| 6 | Citizenship or place of organization
DELAWARE
| ||||||||
| Number of Shares Beneficially Owned by Each Reporting Person With: |
| ||||||||
| 11 | Aggregate amount beneficially owned by each reporting person
1,150,000.00 | ||||||||
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)
| ||||||||
| 13 | Percent of class represented by amount in Row (11)
5.0 % | ||||||||
| 14 | Type of Reporting Person (See Instructions)
PN |
SCHEDULE 13D
|
| CUSIP No. | 583928106 |
| 1 |
Name of reporting person
KORR Acquisitions Group, Inc. | ||||||||
| 2 | Check the appropriate box if a member of a Group (See Instructions)
(a)
(b)
| ||||||||
| 3 | SEC use only | ||||||||
| 4 |
Source of funds (See Instructions)
AF | ||||||||
| 5 |
Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)
| ||||||||
| 6 | Citizenship or place of organization
NEW YORK
| ||||||||
| Number of Shares Beneficially Owned by Each Reporting Person With: |
| ||||||||
| 11 | Aggregate amount beneficially owned by each reporting person
1,150,000.00 | ||||||||
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)
| ||||||||
| 13 | Percent of class represented by amount in Row (11)
5.0 % | ||||||||
| 14 | Type of Reporting Person (See Instructions)
CO |
SCHEDULE 13D
|
| CUSIP No. | 583928106 |
| 1 |
Name of reporting person
Orr Ken | ||||||||
| 2 | Check the appropriate box if a member of a Group (See Instructions)
(a)
(b)
| ||||||||
| 3 | SEC use only | ||||||||
| 4 |
Source of funds (See Instructions)
AF | ||||||||
| 5 |
Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)
| ||||||||
| 6 | Citizenship or place of organization
UNITED STATES
| ||||||||
| Number of Shares Beneficially Owned by Each Reporting Person With: |
| ||||||||
| 11 | Aggregate amount beneficially owned by each reporting person
1,150,000.00 | ||||||||
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)
| ||||||||
| 13 | Percent of class represented by amount in Row (11)
5.0 % | ||||||||
| 14 | Type of Reporting Person (See Instructions)
IN |
SCHEDULE 13D
|
| CUSIP No. | 583928106 |
| 1 |
Name of reporting person
David Orr | ||||||||
| 2 | Check the appropriate box if a member of a Group (See Instructions)
(a)
(b)
| ||||||||
| 3 | SEC use only | ||||||||
| 4 |
Source of funds (See Instructions)
PF | ||||||||
| 5 |
Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)
| ||||||||
| 6 | Citizenship or place of organization
UNITED STATES
| ||||||||
| Number of Shares Beneficially Owned by Each Reporting Person With: |
| ||||||||
| 11 | Aggregate amount beneficially owned by each reporting person
0.00 | ||||||||
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)
| ||||||||
| 13 | Percent of class represented by amount in Row (11)
0.0 % | ||||||||
| 14 | Type of Reporting Person (See Instructions)
IN |
SCHEDULE 13D
|
| CUSIP No. | 583928106 |
| 1 |
Name of reporting person
Jonathan Orr | ||||||||
| 2 | Check the appropriate box if a member of a Group (See Instructions)
(a)
(b)
| ||||||||
| 3 | SEC use only | ||||||||
| 4 |
Source of funds (See Instructions)
PF | ||||||||
| 5 |
Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)
| ||||||||
| 6 | Citizenship or place of organization
UNITED STATES
| ||||||||
| Number of Shares Beneficially Owned by Each Reporting Person With: |
| ||||||||
| 11 | Aggregate amount beneficially owned by each reporting person
0.00 | ||||||||
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)
| ||||||||
| 13 | Percent of class represented by amount in Row (11)
0.0 % | ||||||||
| 14 | Type of Reporting Person (See Instructions)
IN |
SCHEDULE 13D
|
| Item 1. | Security and Issuer |
| (a) | Title of Class of Securities:
Common Stock, $0.01 par value per share |
| (b) | Name of Issuer:
MEDALLION FINANCIAL CORP |
| (c) | Address of Issuer's Principal Executive Offices:
437 MADISON AVE 38 TH FLOOR, NEW YORK,
NEW YORK
, 10022. |
| Item 3. | Source and Amount of Funds or Other Consideration |
Item 3 of Schedule 13D is hereby amended and restated to read as follows:The aggregate purchase price of the 1,150,000 shares of Common Stock directly held by KORR Value reported herein was approximately $5,592,796. Such shares of Common Stock directly held by KORR Value were purchased with the working capital of KORR Value.Unless otherwise indicated herein, all shares of Common Stock reported herein were purchased in open market transactions through brokers. | |
| Item 5. | Interest in Securities of the Issuer |
| (a) | Item 5(a) of Schedule 13D is hereby amended and restated to read as follows:The aggregate percentage of shares of Common Stock of the Issuer reported owned by each Reporting Person named herein is based on 23,067,748 shares of Common Stock of the Issuer outstanding as of November 6, 2024, as reported in the Issuer's Quarterly Report on Form 10-Q filed with the SEC on November 6, 2024.As of the date hereof, KORR Value directly beneficially owned 1,150,000 shares of Common Stock of the Issuer, constituting approximately 4.99% of the shares of Common Stock of the Issuer outstanding. KORR Acquisitions, as the general partner of KORR Value, may be deemed to beneficially own the 1,150,000 shares of Common Stock of the Issuer owned by KORR Value, constituting approximately 4.99% of the shares of Common Stock of the Issuer outstanding. Kenneth Orr, as the Chief Executive Officer and Chief Investment Officer of KORR Acquisitions, may be deemed to beneficially own the 1,150,000 shares of Common Stock of the Issuer owned by KORR Value, constituting approximately 4.99% of the shares of Common Stock of the Issuer outstanding.As of the date hereof, David Orr directly beneficially owned 0 shares of Common Stock, constituting 0% of the shares of Common Stock of the Issuer outstanding.As of th
e date hereof, Jonathan Orr directly beneficially owned 0 shares of Common Stock, constituting 0% of the shares of Common Stock of the Issuer outstanding. |
| (b) | Item 5(b) of Schedule 13D is hereby amended and restated to read as follows:As the general partner of KORR Value, KORR Acquisitions may be deemed to exercise voting and investment power over the 1,150,000 shares of Common Stock of the Issuer held directly by KORR Value. In addition, as the Chief Executive Officer and Chief Investment Officer of KORR Acquisitions, Kenneth Orr may be deemed to exercise voting and investment power over 1,150,000 of the Issuer held directly by KORR Value. |
| (c) | Item 5(c) of Schedule 13D is hereby amended and restated to read as follows:Transactions by the Reporting Persons effected during the past 60 days are set forth in Exhibit 1 and are incorporated herein by reference. |
| (e) | Item 5(e) of Schedule 13D is hereby amended and restated to read as follows:As of December 31, 2024, the Reporting Persons ceased to beneficially own more than 5% of the outstanding shares of Common Stock. |
| Item 7. | Material to be Filed as Exhibits. |
Item 7 of Schedule 13D is amended to add the following:1 - Transactions in Securities. |
| 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.
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