[SCHEDULE 13G/A] 1-800-FLOWERS.COM Inc SEC Filing
Rhea-AI Filing Summary
Fund 1 Investments, LLC reports beneficial ownership of 9,527,250 shares of 1-800-FLOWERS.COM Inc. Class A common stock, representing 26.11% of the class. The shares are held with shared voting and shared dispositive power, and are held for private investment vehicles advised by Pleasant Lake Partners LLC. PLP Funds Master Fund LP is identified as having the right to receive dividends or sale proceeds for more than 5% of the class. Percentages are calculated using 36,495,311 outstanding Class A shares as of May 2, 2025. The filing states the securities are held in the ordinary course of business and not to change or influence control of the issuer.
Positive
- Material disclosed ownership: Fund 1 Investments, LLC reports a clear, specific 9,527,250-share holding representing 26.11% of Class A stock
- Transparent adviser relationships: The filing identifies that shares are held for private vehicles advised by Pleasant Lake Partners LLC and names PLP Funds Master Fund LP as having rights to dividends/proceeds
- Certification of ordinary-course holdings: The filer certifies the securities were acquired and are held in the ordinary course of business and not to effect control
Negative
- Concentrated ownership: A single reporting person holds a >25% stake, creating concentrated voting power in the shareholder base
- Potential governance influence: Shared voting power over a material block of shares could affect board elections or strategic votes if alignment changes
Insights
TL;DR: A single reporting entity holds a material, >25% stake in FLWS with shared voting power, a potentially market-moving ownership disclosure.
This Schedule 13G/A discloses a material ownership position: 9,527,250 Class A shares (26.11%). The position is held through private investment vehicles advised by Pleasant Lake Partners LLC and reported by Fund 1 Investments, LLC, which asserts shared voting and dispositive power. The filing cites 36,495,311 Class A shares outstanding as the basis for the percentage. The reporting person further certifies the holdings are in the ordinary course of business and not intended to effect control. For investors, a >25% holder creates concentrated ownership that can affect liquidity, voting outcomes, and strategic decisions, although the filer disclaims intent to influence control.
TL;DR: Governance significance is high because a single group controls shared voting power over more than one-quarter of Class A stock.
The document identifies Fund 1 Investments, LLC as the reporting person with shared voting power over 9,527,250 shares and discloses the advisory relationship to Pleasant Lake Partners LLC. PLP Funds Master Fund LP is noted as having rights to dividends or sale proceeds for >5% of the common stock. The filing includes a formal certification that the stake is not held to change or influence control. From a governance perspective, a 26.11% stake carried through affiliated private funds is material: it can influence board elections and major corporate actions if voting alignments shift, even absent an expressed intent to seek control.