UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. )*
Unifi, Inc.
| (Name of Issuer) |
Common Stock, par value $0.10 per share |
| (Title of Class of Securities) |
904677200 |
| (CUSIP Number) |
|
| March 31, 2022 |
| (Date of Event Which Requires Filing of this Statement) |
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
x Rule 13d-1(b)
o Rule 13d-1(c)
o Rule 13d-1(d)
*The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.
The information required in 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).
| CUSIP No. 904677200 | SCHEDULE 13G | Page 2 of 11 Pages |
| 1 | NAME OF REPORTING PERSONS Impala Asset Management LLC | |||
| 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) x (b) o | |||
| 3 | SEC USE ONLY | |||
| 4 | CITIZENSHIP OR PLACE OF ORGANIZATION Delaware, United States | |||
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH | 5 | SOLE VOTING POWER 0 | ||
| 6 | SHARED VOTING POWER 1,367,240 | |||
| 7 | SOLE DISPOSITIVE POWER 0 | |||
| 8 | SHARED DISPOSITIVE POWER 1,367,240 | |||
| CUSIP No. 904677200 | SCHEDULE 13G | Page 3 of 11 Pages |
| 1 | NAME OF REPORTING PERSONS Impala Asset Advisors LLC | |||
| 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) x (b) o | |||
| 3 | SEC USE ONLY | |||
| 4 | CITIZENSHIP OR PLACE OF ORGANIZATION Delaware, United States | |||
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH | 5 | SOLE VOTING POWER 0 | ||
| 6 | SHARED VOTING POWER 1,367,240 | |||
| 7 | SOLE DISPOSITIVE POWER 0 | |||
| 8 | SHARED DISPOSITIVE POWER 1,367,240 | |||
| CUSIP No. 904677200 | SCHEDULE 13G | Page 4 of 11 Pages |
| 1 | NAME OF REPORTING PERSONS Impala Master Fund Ltd. | |||
| 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) x (b) o | |||
| 3 | SEC USE ONLY | |||
| 4 | CITIZENSHIP OR PLACE OF ORGANIZATION Cayman Islands | |||
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH | 5 | SOLE VOTING POWER 0 | ||
| 6 | SHARED VOTING POWER 1,225,563 | |||
| 7 | SOLE DISPOSITIVE POWER 0 | |||
| 8 | SHARED DISPOSITIVE POWER 1,225,563 | |||
| CUSIP No. 904677200 | SCHEDULE 13G | Page 5 of 11 Pages |
| 1 | NAME OF REPORTING PERSONS Waterbuck Master Fund Ltd. | |||
| 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) x (b) o | |||
| 3 | SEC USE ONLY | |||
| 4 | CITIZENSHIP OR PLACE OF ORGANIZATION Cayman Islands | |||
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH | 5 | SOLE VOTING POWER 0 | ||
| 6 | SHARED VOTING POWER 141,677 | |||
| 7 | SOLE DISPOSITIVE POWER 0 | |||
| 8 | SHARED DISPOSITIVE POWER 141,677 | |||
| CUSIP No. 904677200 | SCHEDULE 13G | Page 6 of 11 Pages |
| 1 | NAME OF REPORTING PERSONS Robert J. Bishop | |||
| 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) x (b) o | |||
| 3 | SEC USE ONLY | |||
| 4 | CITIZENSHIP OR PLACE OF ORGANIZATION United States | |||
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH | 5 | SOLE VOTING POWER 31,242 | ||
| 6 | SHARED VOTING POWER 1,367,240 | |||
| 7 | SOLE DISPOSITIVE POWER 31,242 | |||
| 8 | SHARED DISPOSITIVE POWER 1,367,240 | |||
| CUSIP No. 904677200 | SCHEDULE 13G | Page 7 of 11 Pages |
| Preliminary Statement |
This Schedule 13G is jointly filed by Impala Asset Management LLC, a Delaware limited liability company (“Impala Asset Management”), Impala Asset Advisors LLC, a Delaware limited liability company (“Impala Asset Advisors”), Impala Master Fund Ltd., a Cayman Islands company (“Impala Master Fund”), Waterbuck Master Fund Ltd., a Cayman Islands company (“Waterbuck Master Fund”), and Mr. Robert J. Bishop (collectively, the “Reporting Persons”) and replaces in its entirety the Schedule 13D filed by the Reporting Persons on February 14, 2020 relating to shares of Common Stock of Unifi, Inc. (the “Issuer”). Mr. Bishop resigned his role as director of the Issuer effective March 31, 2022.
| Item 1. | (a) Name of Issuer |
Unifi, Inc.
| (b) Address of Issuer’s Principal Executive Offices |
7201 West Friendly Avenue, Greensboro, NC 27410
| Item 2. | (a) Names of Person Filing: |
This Schedule 13G is jointly filed by Impala Asset Management, Impala Asset Advisors, Impala Master Fund, Waterbuck Master Fund and Robert J. Bishop
| (b) Address of Principal Business Offices: |
The principal business address for each Reporting Person is:
324 Royal Palm Way, 3rd Fl. Palm Beach, FL 33480
| (c) Citizenship: |
Mr. Bishop is a citizen of the United States of America, Impala Asset Management, is a Delaware limited liability company, Impala Asset Advisors, is a Delaware limited liability company, Impala Master Fund, is a Cayman Islands company, and Waterbuck Master Fund, is a Cayman Islands company.
| (d) Title of Class of Securities: |
Common Stock, $0.10 per share ("Common Stock")
| (e) CUSIP No.: |
904677200
| CUSIP No. 904677200 | SCHEDULE 13G | Page 8 of 11 Pages |
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) | x | 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); | |
| (k) | ¨ | A group, in accordance with §240.13d-1(b)(1)(ii)(K). If filing as a non-U.S. institution in accordance with §240.13d-1(b)(1)(ii)(J), please specify the type of institution: | |
| CUSIP No. 904677200 | SCHEDULE 13G | Page 9 of 11 Pages |
Item 4. Ownership
(a) Amount Beneficially Owned:
The Reporting Persons own an aggregate of 1,398,482 shares of Common Stock.
(b) Percent of Class: The number of shares of Common Stock beneficially owned by Impala Asset Management and Impala Asset Advisors represents 7.4% of the Issuer's outstanding shares of Common Stock. The number of shares of Common Stock beneficially owned by Impala Master Fund represents 6.6% of the Issuer's outstanding Common Stock. The number of shares of Common Stock beneficially owned by Waterbuck Master Fund represents 0.8% of the Issuer's outstanding Common Stock. The number of shares of Common Stock beneficially owned by Robert J. Bishop represents 7.6% of the Issuer's outstanding shares of Common Stock. All percentages are based on 18,498,725 shares of Common Stock outstanding as of January 28, 2022, as set forth in the Issuer's Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on February 2, 2022.
(c) Number of shares as to which such person has:
(i) Sole power to vote or to direct the vote:
Mr. Robert J. Bishop has sole power to vote or to direct the vote of the 31,242 shares of Common Stock he beneficially owns.
(ii) Shared power to vote or to direct the vote:
Impala Asset Management, Impala Asset Advisors and Mr. Robert J. Bishop have shared power to vote or to direct the vote of the 1,367,240 shares of Common Stock they beneficially own. Impala Master Fund has shared power to vote or to direct the vote of the 1,225,563 shares of Common Stock it beneficially owns. Waterbuck Master Fund has shared power to vote or to direct the vote of the 141,677 shares of Common Stock it beneficially owns.
(iii) Sole power to dispose or to direct the disposition of:
Mr. Robert J. Bishops has sole power to dispose or to direct the disposition of the 31,242 shares of Common Stock he beneficially owns.
(iv) Shared power to dispose or to direct the disposition of:
Impala Asset Management, Impala Asset Advisors and Mr. Robert J. Bishop have shared power to dispose or to direct the disposition of the 1,367,240 shares of Common Stock they beneficially own. Impala Master Fund has shared power to dispose or to direct the disposition of the 1,225,563 shares of Common Stock it beneficially owns. Waterbuck Master Fund has shared power to dispose or to direct the disposition of the 141,677 shares of Common Stock it beneficially owns.
Item 5. Ownership of Five Percent or Less of a Class
If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following [ ].
Item 6. Ownership of More Than Five 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. Certification
By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under $ 240.14a-11.
Exhibits
Joint Filing Agreement, dated April 14, 2022, among the Reporting Persons
| CUSIP No. 904677200 | SCHEDULE 13G | Page 10 of 11 Pages |
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.
Dated: April 14, 2022
Impala Asset Management LLC
Thomas Sullivan
Chief Financial Officer
Impala Asset Advisors LLC | |||
| By: | /s/ Thomas Sullivan | ||
Thomas Sullivan Chief Financial Officer | |||
Impala Master Fund Ltd. | |||
| By: | /s/ Thomas Sullivan | ||
Thomas Sullivan Chief Financial Officer | |||
Waterbuck Master Fund Ltd. | |||
| By: | /s/ Thomas Sullivan | ||
Thomas Sullivan Chief Financial Officer | |||
| By: | /s/ Robert J. Bishop | ||
| Robert J. Bishop | |||
| CUSIP No. 904677200 | SCHEDULE 13G | Page 11 of 11 Pages |
Exhibit I
JOINT FILING STATEMENT
PURSUANT TO RULE 13d-1(k)
The undersigned hereby agree that the Statement on Schedule 13G with respect to the common stock of Unifi, Inc., $0.10 par value per share, is, and any amendments thereto executed by each of us shall be, filed on behalf of each of us pursuant to and in accordance with the provisions of Rule 13d-1(k)(1) under the Securities Exchange Act of 1934, as amended, and that this Agreement shall be included as an Exhibit to the Schedule 13G and each such amendment. Each of the undersigned agrees to be responsible for the timely filing of the Schedule 13G and any amendments thereto, and for the completeness and accuracy of the information concerning itself contained therein. This Agreement may be executed in any number of counterparts, all of which taken together shall constitute one and the same instrument.
IN WITNESS WHEREOF, the undersigned have executed this Agreement as of April 14, 2022.
Impala Asset Management LLC | |||
| By: | /s/ Thomas Sullivan | ||
Thomas Sullivan Chief Financial Officer | |||
Impala Asset Advisors LLC | |||
| By: | /s/ Thomas Sullivan | ||
Thomas Sullivan Chief Financial Officer | |||
Impala Master Fund Ltd. | |||
| By: | /s/ Thomas Sullivan | ||
Thomas Sullivan Chief Financial Officer | |||
Waterbuck Master Fund Ltd. | |||
| By: | /s/ Thomas Sullivan | ||
Thomas Sullivan Chief Financial Officer | |||
| By: | /s/ Robert J. Bishop | ||
| Robert J. Bishop | |||
