Banc Fund X discloses 5.1% Grand River Commerce (GNRV) ownership stake
Filing Impact
Filing Sentiment
Form Type
SCHEDULE 13G/A
Rhea-AI Filing Summary
Grand River Commerce, Inc. received an updated ownership report showing that investment entity Banc Fund X L.P. beneficially owns 357,400 shares of its common stock, representing 5.1% of the class as of the event date. Other related Banc Funds entities listed report zero beneficial ownership. The filing explains that The Banc Funds Company, L.L.C. is the general partner structure behind these funds and that its principal shareholder, Charles J. Moore, has voting and dispositive power over the shares held by the partnerships. The reporting group certifies that the securities are not held for the purpose of changing or influencing control of Grand River Commerce.
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FAQ
What ownership percentage of GNRV does Banc Fund X L.P. report?
Banc Fund X L.P. reports owning 5.1% of the outstanding common stock of Grand River Commerce, Inc. This level of ownership triggers beneficial ownership reporting requirements under U.S. securities rules for holders exceeding the 5% threshold.
Which entities are included in the group reporting GNRV ownership?
The group includes Banc Fund IX L.P., Banc Fund X L.P., and TBFC Financial Technologies Fund L.P., all controlled through The Banc Funds Company, L.L.C. Only Banc Fund X L.P. reports a current Grand River Commerce ownership position in this filing excerpt.
Do the reporting persons seek control of Grand River Commerce (GNRV)?
The reporting persons certify that the securities were not acquired and are not held for changing or influencing control of Grand River Commerce. They also state the holdings are not part of any transaction intended to affect control, aside from limited proxy nomination activities.
What is the title of the Grand River Commerce securities held?
The reported securities are common stock of Grand River Commerce, Inc., identified by CUSIP 386441109. Common stock represents standard equity ownership, including voting rights and participation in any future dividends, subject to the company’s capital structure.