DALN: Covista Files Schedule 13G for 235k Shares, 4.96 % Ownership

Rhea-AI Filing Summary

Covista Capital Corp., a British Columbia–based investment fund manager, filed Amendment No. 2 to Schedule 13G on 11 July 2025 disclosing its ownership in DallasNews Corp. (DALN) Series A common stock.

• Shares held: 235,000
• Ownership percentage: 4.96 % of the outstanding Series A common
• Voting & dispositive power: Sole voting and sole dispositive power over the entire position; no shared power reported
• Filing status: Passive institutional holder under Rule 13d-1(b); filer is classified as an Investment Adviser
• Threshold note: The stake is just below the 5 % level that would otherwise trigger Schedule 13D obligations

No other entities or subsidiaries are part of a group, and the filer certifies that the Canadian regulatory regime is substantially comparable to U.S. standards. The certification is signed by CIO Rann Cannon on 15 July 2025.

Insights

Financial Analyst

TL;DR: Covista declares a 4.96 % passive stake in DALN—material visibility but limited control; market impact expected to be modest.

Covista Capital’s filing signals institutional interest but remains below the critical 5 % threshold, suggesting a non-activist posture. Sole voting and dispositive powers mean Covista can independently trade or vote the shares, yet its influence on corporate governance is limited by its sub-5 % share. From an ownership-structure standpoint, DallasNews retains a widely held float without a new controlling block. Unless Covista increases its stake or files a 13D, the disclosure is more of a transparency event than a catalyst.

Corporate Governance Specialist

TL;DR: Sub-5 % passive position offers transparency but does not alter DALN’s control dynamics.

The Schedule 13G confirms Covista’s passive intent and sole authority over 235 k shares. Governance risk remains unchanged because Covista neither crosses the 5 % reporting line nor forms a group. Its Canadian domicile and certification of regulatory comparability satisfy SEC requirements, mitigating cross-border compliance concerns. Overall, disclosure is routine and not impactful to voting control, takeover defenses, or board composition.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 07/15/2025 - 10:30 AM Learn about SEC filing dates

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 2)

DallasNews Corp

(Name of Issuer)

common series A

(Title of Class of Securities)

235050101

(CUSIP Number)

07/11/2025

(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)

SCHEDULE 13G

CUSIP No. 235050101

1

Names of Reporting Persons

Covista Capital Corp.

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

BRITISH COLUMBIA, CANADA

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 235,000.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 235,000.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

235,000.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

4.96 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

Item 1.
(a)	Name of issuer: DallasNews Corp
(b)	Address of issuer's principal executive offices: 1954 COMMERCE STREET, DALLAS, TEXAS 75201
Item 2.
(a)	Name of person filing: Covista Capital Corp.
(b)	Address or principal business office or, if none, residence: 915 - 355 BURRARD ST VANCOUVER, British Columbia, Canada V6C2G8
(c)	Citizenship: Covista Capital Corp. - BRITISH COLUMBIA, CANADA
(d)	Title of class of securities: common series A
(e)	CUSIP No.: 235050101
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). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
	Investment Fund Manager
Item 4.	Ownership
(a)	Amount beneficially owned: 235,000
(b)	Percent of class: 4.96 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: Covista Capital Corp. - 235,000
	(ii) Shared power to vote or to direct the vote: Covista Capital Corp. - 0
	(iii) Sole power to dispose or to direct the disposition of: Covista Capital Corp. - 235,000
	(iv) Shared power to dispose or to direct the disposition of: Covista Capital Corp. - 0
Item 5.	Ownership of 5 Percent or Less of a Class.
	Ownership of 5 percent or less of a class
Item 6.	Ownership of more than 5 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.	Certifications:
	By signing below I certify that, to the best of my knowledge and belief, the foreign regulatory scheme applicable to Canada is substantially comparable to the regulatory scheme applicable to the functionally equivalent U.S. institution(s). I also undertake to furnish to the Commission staff, upon request, information that would otherwise be disclosed in a Schedule 13D.

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.

Covista Capital Corp.

Signature:	Rann Cannon
Name/Title:	Rann Cannon/CIO
Date:	07/15/2025