0001172661-22-001133.txt : 20220414 0001172661-22-001133.hdr.sgml : 20220414 20220414160826 ACCESSION NUMBER: 0001172661-22-001133 CONFORMED SUBMISSION TYPE: SC 13G PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20220414 DATE AS OF CHANGE: 20220414 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: UNIFI INC CENTRAL INDEX KEY: 0000100726 STANDARD INDUSTRIAL CLASSIFICATION: TEXTILE MILL PRODUCTS [2200] IRS NUMBER: 112165495 STATE OF INCORPORATION: NY FISCAL YEAR END: 0703 FILING VALUES: FORM TYPE: SC 13G SEC ACT: 1934 Act SEC FILE NUMBER: 005-30881 FILM NUMBER: 22827333 BUSINESS ADDRESS: STREET 1: 7201 WEST FRIENDLY RD STREET 2: P O BOX 19109 CITY: GREENSBORO STATE: NC ZIP: 27419-9109 BUSINESS PHONE: 9192944410 MAIL ADDRESS: STREET 1: 7201 W FRIENDLY RD STREET 2: PO BOX 19109 CITY: GREENSBORO STATE: NC ZIP: 24719-9109 FORMER COMPANY: FORMER CONFORMED NAME: AUTOMATED ENVIRONMENTAL SYSTEMS INC DATE OF NAME CHANGE: 19720906 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: Impala Asset Management LLC CENTRAL INDEX KEY: 0001317679 IRS NUMBER: 412118667 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G BUSINESS ADDRESS: STREET 1: 324 ROYAL PALM WAY STREET 2: 3RD FLOOR CITY: PALM BEACH STATE: FL ZIP: 33480 BUSINESS PHONE: (203) 972-4155 MAIL ADDRESS: STREET 1: 107 CHERRY STREET CITY: NEW CANAAN STATE: CT ZIP: 06840 SC 13G 1 impala-ufi03312022.htm



 

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
9
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 
1,367,240
10
CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
 
 
o
11
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
 
7.4%
12
TYPE OF REPORTING PERSON
 
IA

 


 

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
9
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 
1,367,240
10
CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
 
 
o
11
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
 
7.4%
12
TYPE OF REPORTING PERSON
 
OO

 


 

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
9
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 
1,225,563
10
CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
 
 
o
11
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
 
6.6%
12
TYPE OF REPORTING PERSON
 
CO
 


 

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
9
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 
141,677
10
CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
 
 
o
11
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
 
0.8%
12
TYPE OF REPORTING PERSON
 
CO

 

 


 

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

9
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 
1,398,482
10
CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
 
 
o
11
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
 
7.6%
12
TYPE OF REPORTING PERSON
 
IN
 


 

 

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

       
  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
       

 

 
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