0001387131-20-001714.txt : 20200214 0001387131-20-001714.hdr.sgml : 20200214 20200214141127 ACCESSION NUMBER: 0001387131-20-001714 CONFORMED SUBMISSION TYPE: SC 13G/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20200214 DATE AS OF CHANGE: 20200214 GROUP MEMBERS: CLIFFORD SOSIN GROUP MEMBERS: CSWR PARTNERS, L.P. GROUP MEMBERS: SOSIN PARTNERS, L.P. SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: WORLD ACCEPTANCE CORP CENTRAL INDEX KEY: 0000108385 STANDARD INDUSTRIAL CLASSIFICATION: PERSONAL CREDIT INSTITUTIONS [6141] IRS NUMBER: 570425114 STATE OF INCORPORATION: SC FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: SC 13G/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-43019 FILM NUMBER: 20617861 BUSINESS ADDRESS: STREET 1: 108 FREDRICK STREET CITY: GREENVILLE STATE: SC ZIP: 29607 BUSINESS PHONE: 8642989800 MAIL ADDRESS: STREET 1: P O BOX 6429 CITY: GREENVILLE STATE: SC ZIP: 29606 FORMER COMPANY: FORMER CONFORMED NAME: WORLD FINANCE CORP DATE OF NAME CHANGE: 19700210 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: CAS Investment Partners, LLC CENTRAL INDEX KEY: 0001697591 IRS NUMBER: 460901365 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A BUSINESS ADDRESS: STREET 1: 8 WRIGHT STREET STREET 2: 1ST FLOOR CITY: WESTPORT STATE: CT ZIP: 06880 BUSINESS PHONE: 212-804-7660 MAIL ADDRESS: STREET 1: 8 WRIGHT STREET STREET 2: 1ST FLOOR CITY: WESTPORT STATE: CT ZIP: 06880 SC 13G/A 1 wrld-sc13ga_123119.htm AMENDMENT TO FORM SC 13G

 

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

SCHEDULE 13G/A

 

Under the Securities Exchange Act of 1934*

 

(Amendment No. 3)*

 

World Acceptance Corporation

(Name of Issuer)

 

Common Stock, no par value

(Title of Class of Securities)

 

981419104

(CUSIP Number)

 

December 31, 2019

(Date of Event Which Requires Filing of this Statement)

 

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

 

 

Rule 13d-1(b)

 

Rule 13d-1(c)

 

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.

981419104

 

Page 2 of 11

 

1

NAME OF REPORTING PERSONS
CAS Investment Partners, LLC

 

 I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
(ENTITIES ONLY) EIN: 46-0901365

 

2

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a) ☐

 (b) ☐

3

SEC USE ONLY

 

4

CITIZENSHIP OR PLACE OF ORGANIZATION

Delaware, United States of America

 

NUMBER OF
SHARES

BENEFICIALLY
OWNED BY

EACH
REPORTING

PERSON
WITH:

5

SOLE VOTING

597,986

 

6

SHARED VOTING POWER

0

 

7

SOLE DISPOSITIVE POWER

597,986

 

8

SHARED DISPOSITIVE POWER

0

 

9

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

597,986

 

10

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 9 EXCLUDES CERTAIN SHARES

11

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

7.5%(1)(2)

 

12

TYPE OF REPORTING PERSON

IA

 

 

 

 

 

 

 

(1)

As of December 31, 2019, Sosin Partners, L.P. (the “Fund”) and CSWR Partners, L.P. owned an aggregate of 597,986 shares of Common Stock of the Issuer. Clifford Sosin is the Managing Member of CAS Investment Partners, LLC, and CAS Investment Partners, LLC is the investment manager of CSWR Partners, L.P and of the Fund, in which such shares referred to above are held. As a result, CAS Investment Partners, LLC and Clifford Sosin possess the power to vote and dispose or direct the disposition of all the shares owned by the Fund and CSWR Partners, L.P. Thus, CAS Investment Partners, LLC and Clifford Sosin may be deemed to beneficially own a total of 597,986 shares.

(2)

Based on a total of 7,932,313 shares outstanding as of January 31, 2020 as set forth in the Issuer’s most recent 10-Q, filed February 10, 2020.

 

 
 

CUSIP No.

981419104

 

Page 3 of 11

 

1

NAME OF REPORTING PERSONS
Sosin Partners, L.P.

 

I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
(ENTITIES ONLY) EIN: 46-0970829

 

2

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a) ☐

(b) ☐

3

SEC USE ONLY

 

4

CITIZENSHIP OR PLACE OF ORGANIZATION

Delaware, United States of America

 

NUMBER OF
SHARES

BENEFICIALLY
OWNED BY

EACH
REPORTING

PERSON
WITH:

5

SOLE VOTING

471,217

 

6

SHARED VOTING POWER

0

 

7

SOLE DISPOSITIVE POWER

471,217

 

8

SHARED DISPOSITIVE POWER

0

 

9

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

471,217

 

10

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 9 EXCLUDES CERTAIN SHARES

11

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

5.9%(1)(2)

 

12

TYPE OF REPORTING PERSON

PN

 

 

 

 

 

 

 

(1)

As of December 31, 2019, Sosin Partners, L.P. (the “Fund”) and CSWR Partners, L.P. owned an aggregate of 597,986 shares of Common Stock of the Issuer. Clifford Sosin is the Managing Member of CAS Investment Partners, LLC, and CAS Investment Partners, LLC is the investment manager of CSWR Partners, L.P and of the Fund, in which such shares referred to above are held. As a result, CAS Investment Partners, LLC and Clifford Sosin possess the power to vote and dispose or direct the disposition of all the shares owned by the Fund and CSWR Partners, L.P. Thus, CAS Investment Partners, LLC and Clifford Sosin may be deemed to beneficially own a total of 597,986 shares.

(2)

Based on a total of 7,932,313 shares outstanding as of January 31, 2020 as set forth in the Issuer’s most recent 10-Q, filed February 10, 2020.

 

 
 

CUSIP No.

981419104

 

Page 4 of 11

 

1

NAME OF REPORTING PERSONS
CSWR Partners, L.P.

 

I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
(ENTITIES ONLY) EIN: 83-3990390

 

2

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a) ☐

(b) ☐

3

SEC USE ONLY

 

4

CITIZENSHIP OR PLACE OF ORGANIZATION

Delaware, United States of America

 

NUMBER OF
SHARES

BENEFICIALLY
OWNED BY

EACH
REPORTING

PERSON
WITH:

5

SOLE VOTING

126,769

 

6

SHARED VOTING POWER

0

 

7

SOLE DISPOSITIVE POWER

126,769

 

8

SHARED DISPOSITIVE POWER

0

 

9

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

126,769

 

10

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 9 EXCLUDES CERTAIN SHARES

11

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

1.6%(1)(2)

 

12

TYPE OF REPORTING PERSON

PN

 

 

 

 

 

 

 

(1)

As of December 31, 2019, Sosin Partners, L.P. (the “Fund”) and CSWR Partners, L.P. owned an aggregate of 597,986 shares of Common Stock of the Issuer. Clifford Sosin is the Managing Member of CAS Investment Partners, LLC, and CAS Investment Partners, LLC is the investment manager of CSWR Partners, L.P and of the Fund, in which such shares referred to above are held. As a result, CAS Investment Partners, LLC and Clifford Sosin possess the power to vote and dispose or direct the disposition of all the shares owned by the Fund and CSWR Partners, L.P. Thus, CAS Investment Partners, LLC and Clifford Sosin may be deemed to beneficially own a total of 597,986 shares.

(2)

Based on a total of 7,932,313 shares outstanding as of January 31, 2020 as set forth in the Issuer’s most recent 10-Q, filed February 10, 2020.

 

 
 

CUSIP No.

981419104

 

Page 5 of 11

 

1

NAME OF REPORTING PERSONS
Clifford Sosin

 

I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
(ENTITIES ONLY) EIN:

 

2

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a) ☐

(b) ☐

3

SEC USE ONLY

 

4

CITIZENSHIP OR PLACE OF ORGANIZATION

United States of America

 

NUMBER OF
SHARES

BENEFICIALLY
OWNED BY

EACH
REPORTING

PERSON
WITH:

5

SOLE VOTING

0

 

6

SHARED VOTING POWER

597,986

 

7

SOLE DISPOSITIVE POWER

0

 

8

SHARED DISPOSITIVE POWER

597,986

 

9

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

597,986

 

10

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 9 EXCLUDES CERTAIN SHARES

11

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

7.5%(1)(2)

 

12

TYPE OF REPORTING PERSON

IN

 

 

 

 

 

 

 

(1)

As of December 31, 2019, Sosin Partners, L.P. (the “Fund”) and CSWR Partners, L.P. owned an aggregate of 597,986 shares of Common Stock of the Issuer. Clifford Sosin is the Managing Member of CAS Investment Partners, LLC, and CAS Investment Partners, LLC is the investment manager of CSWR Partners, L.P and of the Fund, in which such shares referred to above are held. As a result, CAS Investment Partners, LLC and Clifford Sosin possess the power to vote and dispose or direct the disposition of all the shares owned by the Fund and CSWR Partners, L.P. Thus, CAS Investment Partners, LLC and Clifford Sosin may be deemed to beneficially own a total of 597,986 shares.

(2)

Based on a total of 7,932,313 shares outstanding as of January 31, 2020 as set forth in the Issuer’s most recent 10-Q, filed February 10, 2020.

 

Mr. Sosin disclaims any beneficial ownership of the shares.

 

 

 

 

CUSIP No.

981419104

 

Page 6 of 11

 

Item 1(a).

Name of Issuer:

World Acceptance Corporation

 

 

 

 

Item 1(b).

Address of Issuer’s Principal Executive Offices: 

104 S Main Street, Greenville, South Carolina 29601

 

 

 

 

Item 2(a).

Name of Person Filing:  

This Schedule 13G/A is being filed with respect to shares of Common Stock of the Issuer which are beneficially owned by CAS Investment Partners, LLC, Sosin Partners, L.P., CSWR Partners, L.P. and Clifford Sosin. As of December 31, 2019, Sosin Partners, L.P. (the “Fund”) and CSWR Partners, L.P. owned an aggregate of 597,986 shares of Common Stock of the Issuer. Clifford Sosin is the Managing Member of CAS Investment Partners, LLC, and CAS Investment Partners, LLC is the investment manager of CSWR Partners, L.P and of the Fund, in which such shares referred to above are held. As a result, CAS Investment Partners, LLC and Clifford Sosin possess the power to vote and dispose or direct the disposition of all the shares owned by the Fund and CSWR Partners, L.P. Thus, CAS Investment Partners, LLC and Clifford Sosin may be deemed to beneficially own a total of 597,986 shares.

 

 

 

Item 2(b).

Address of Principal Business Office or, if None, Residence:

135 E 57th Street, Suite 18-108
New York, NY 10022

 

 

 

 

Item 2(c).

Citizenship:

See Item 4 on the cover pages hereto.

 

 

 

 

Item 2(d).

Title of Class of Securities:

Common Stock, no par value

 

 

 

 

Item 2(e).

CUSIP Number: 981419104

 

 

 

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)

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)(ii)(G);

 

 

(h)

A savings association 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 (15 U.S.C. 80a-3);

 

 

(j)

Group, in accordance with §240.13d-1(b)(1)(ii)(J).

 

 

CUSIP No.

981419104

 

Page 7 of 11

 

Item 4. Ownership.
       
  Provide the following information regarding the aggregate number and percentage of the class of securities of the issuer identified in Item 1.
   
  (a) Amount beneficially owned:
    See Item 9 on the cover page(s) hereto.
     
  (b) Percent of class:
    See Item 11 on the cover page(s) hereto.
     
  (c) Number of shares as to which such person has:
     
    (i) Sole power to vote or to direct the vote:  
      See Item 5 on the cover page(s) hereto.
       
    (ii) Shared power to vote or to direct the vote:
      See Item 6 on the cover page(s) hereto.
       
    (iii) Sole power to dispose or to direct the disposition of:
      See Item 7 on the cover page(s) hereto.
       
    (iv) Shared power to dispose or to direct the disposition of 0
      See Item 8 on the cover page(s) hereto.

 

 

 

CUSIP No. 981419104   Page 8 of 11

 

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

 

 

CUSIP No.

981419104

 

Page 9 of 11

 

Item 10.

Certification.

 

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above 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.

 

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.

 

 

CAS INVESTMENT PARTNERS, LLC

 

Date:

February 14, 2020

 

 

 

 

By:

/s/  Clifford Sosin

 

Name:

Clifford Sosin

 

Title:

Managing Member

 

 

SOSIN PARTNERS, LP

 

Date:

February 14, 2020

 

 

 

 

By:

Sosin, LLC

 

 

its General Partner

 

By:

/s/ Clifford Sosin

 

Name:

Clifford Sosin

 

Title:

Managing Member of CAS Investment Partners, LLC, Investment Adviser of Sosin Partners, L.P.

 

 

CSWR PARTNERS, LP

 

Date:

February 14, 2020

 

 

 

 

By:

Sosin, LLC

its General Partner

 

By:

/s/ Clifford Sosin

 

Name:

Clifford Sosin

 

Title:

Managing Member of CAS Investment Partners, LLC, Investment Adviser of CSWR Partners, L.P.

 

 

 

 

 

/s/ Clifford Sosin

 

 

Clifford Sosin

  

 

Page 10 of 11

 

EXHIBIT INDEX

 

EXHIBIT 1:         Joint Filing Agreement (filed herewith):

 

 

Page 11 of 11

 

EXHIBIT 1

 

JOINT ACQUISITION STATEMENT

 

The undersigned acknowledge and agree that the foregoing statement on Schedule 13G is filed on behalf of each of the undersigned and that all subsequent amendments to this statement on Schedule 13G shall be filed on behalf of each of the undersigned without the necessity of filing additional joint acquisition statements.  The undersigned acknowledge that each shall be responsible for the timely filing of such amendments, and for the completeness and accuracy of the information concerning him, her or it contained therein, but shall not be responsible for the completeness and accuracy of the information concerning the other entities or persons, except to the extent that he, she or it knows or has reason to believe that such information is inaccurate.

 

 

CAS INVESTMENT PARTNERS, LLC

 

Date:

February 14, 2020

 

 

 

 

By:

/s/  Clifford Sosin

 

Name:

Clifford Sosin

 

Title:

Managing Member

 

 

SOSIN PARTNERS, LP

 

Date:

February 14, 2020

 

 

 

 

By:

Sosin, LLC

 

 

its General Partner

 

By:

/s/ Clifford Sosin

 

Name:

Clifford Sosin

 

Title:

Managing Member of CAS Investment Partners, LLC, investment adviser of Sosin Partners, L.P.

 

 

CSWR PARTNERS, LP

 

Date:

February 14, 2020

 

 

 

 

By:

Sosin, LLC

its General Partner

 

By:

/s/ Clifford Sosin

 

Name:

Clifford Sosin

 

Title:

Managing Member of CAS Investment Partners, LLC, investment adviser of CSWR Partners, L.P.

 

 

 

 

 

/s/ Clifford Sosin

 

 

Clifford Sosin