Form 4: Mink Brook Increases Indirect DLHC Holdings to 1.82M Shares
Rhea-AI Filing Summary
Mink Brook Asset Management LLC reported purchases of DLH Holdings Corp. (DLHC) common stock during August 18-20, 2025 at a weighted average price of $5.50 per share. The filing shows three purchase transactions: 2,083 shares on 08/18/2025, 26,803 shares on 08/19/2025 and 14,154 shares on 08/20/2025. After the reported transactions, Mink Brook Partners LP is shown as beneficially owning 1,819,361 shares indirectly and Mink Brook Opportunity Fund LP is shown as beneficially owning 694,322 shares indirectly. The reporting person notes the price is a weighted average of multiple purchases at $5.50 and disclaims beneficial ownership except to the extent of pecuniary interest.
Positive
- Open-market purchases disclosed: The filing shows three purchases totaling 43,040 shares at a weighted average price of $5.50.
- Increased indirect holdings: Mink Brook Partners LP now shows 1,819,361 shares indirectly and Mink Brook Opportunity Fund LP shows 694,322 shares indirectly.
- Clear disclosure and compliance: Transaction dates, codes, weighted average price and explanatory notes are provided and the form is signed.
Negative
- None.
Insights
TL;DR: Insider-affiliated funds made modest open-market purchases totaling 43,040 shares at $5.50, increasing indirect holdings.
The Form 4 discloses three purchases across three days for a combined 43,040 shares purchased at a reported weighted average price of $5.50 per share. The filing attributes indirect beneficial ownership of 1,819,361 shares to Mink Brook Partners LP and 694,322 shares to Mink Brook Opportunity Fund LP, with Mink Brook Asset Management LLC identified as the investment manager that may be deemed to beneficially own those positions. The filing includes a standard disclaimer that the manager disclaims beneficial ownership except to the extent of pecuniary interest. For investors, this is a clear disclosure of incremental accumulation by affiliated funds rather than a managerial sale or derivative activity.
TL;DR: Form 4 documents rule-compliant acquisitions by affiliated funds and contains customary disclaimer language.
The filing follows Section 16 reporting conventions: it lists transaction codes as purchases (P), provides transaction dates, a weighted average price disclosure, and an executable signature by William Mueller. The explanations clarify which entities directly own the shares and state that the manager may be deemed to beneficially own them while disclaiming such ownership beyond pecuniary interest. There are no derivative transactions or dispositions reported. The disclosure appears procedural and compliant, conveying increased indirect holdings by the named funds.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Purchase | Common Stock, par value $0.001 per share ("Common Stock") | 14,154 | $5.50 | $78K |
| Purchase | Common Stock, par value $0.001 per share ("Common Stock") | 26,803 | $5.50 | $147K |
| Purchase | Common Stock, par value $0.001 per share ("Common Stock") | 2,083 | $5.50 | $11K |
| holding | Common Stock, par value $0.001 per share ("Common Stock") | -- | -- | -- |
Footnotes (1)
- The price reported in column 4 is a weighted average price. These shares were purchased in multiple transactions at a price of $5.50 inclusive. The reporting person undertakes to provide, upon request by the SEC staff, the issuer, or a security holder of the issuer, full information regarding the number of shares bought at each price. Represents securities owned directly by Mink Brook Partners LP (the "Fund"). As the investment manager of the Fund, Mink Brook Asset Management LLC may be deemed to beneficially own the securities owned directly by the Fund. Mink Brook Asset Management LLC, and the general partner for both funds, Mink Brook Capital GP LLC, disclaims beneficial ownership of the shares reported herein except to the extent of its pecuniary interest therein, and the filing of this Form 4 shall not be construed as an admission that Mink Brook Asset Management LLC, Mink Brook Capital GP LLC or William Mueller as managing member of both, is the beneficial owner of any such shares for purposes of Section 16(a) of the Securities Exchange Act of 1934, as amended, or for any other purpose. Represents securities owned directly by Mink Brook Opportunity Fund LP (the "Fund"). As the investment manager of the Fund, Mink Brook Asset Management LLC may be deemed to beneficially own the securities owned directly by the Fund.
