0001019056-24-000283.txt : 20240912 0001019056-24-000283.hdr.sgml : 20240912 20240912151731 ACCESSION NUMBER: 0001019056-24-000283 CONFORMED SUBMISSION TYPE: 4 PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20240910 FILED AS OF DATE: 20240912 DATE AS OF CHANGE: 20240912 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: Navy Capital Green Management Partners LLC CENTRAL INDEX KEY: 0001764864 ORGANIZATION NAME: STATE OF INCORPORATION: NY FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 000-55546 FILM NUMBER: 241294789 BUSINESS ADDRESS: STREET 1: 28 REICHERT CIRCLE CITY: WESTPORT STATE: CT ZIP: 06880 BUSINESS PHONE: 646-916-4870 MAIL ADDRESS: STREET 1: 28 REICHERT CIRCLE CITY: WESTPORT STATE: CT ZIP: 06880 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: Navy Capital Green Fund, LP CENTRAL INDEX KEY: 0001688278 ORGANIZATION NAME: STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 000-55546 FILM NUMBER: 241294788 BUSINESS ADDRESS: STREET 1: 28 REICHERT CIRCLE CITY: WESTPORT STATE: CT ZIP: 06880 BUSINESS PHONE: 646-916-4870 MAIL ADDRESS: STREET 1: NAVY CAPITAL GREEN MANAGEMENT, LLC STREET 2: 28 REICHERT CIRCLE CITY: WESTPORT STATE: CT ZIP: 06880 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: Navy Capital Green Co-Invest Fund, LLC CENTRAL INDEX KEY: 0001760813 ORGANIZATION NAME: STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 000-55546 FILM NUMBER: 241294787 BUSINESS ADDRESS: STREET 1: 28 REICHERT CIRCLE CITY: WESTPORT STATE: CT ZIP: 06880 BUSINESS PHONE: (646) 916-4870 MAIL ADDRESS: STREET 1: 28 REICHERT CIRCLE CITY: WESTPORT STATE: CT ZIP: 06880 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: Navy Capital Green Management, LLC CENTRAL INDEX KEY: 0001764863 ORGANIZATION NAME: STATE OF INCORPORATION: NY FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 000-55546 FILM NUMBER: 241294790 BUSINESS ADDRESS: STREET 1: 28 REICHERT CIRCLE CITY: WESTPORT STATE: CT ZIP: 06880 BUSINESS PHONE: 908-803-1916 MAIL ADDRESS: STREET 1: 482 BAYBERRY LANE CITY: MOUNTAINSIDE STATE: NJ ZIP: 07092 FORMER NAME: FORMER CONFORMED NAME: Navy Capital Green Management LLC DATE OF NAME CHANGE: 20190115 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: GULATI CHETAN CENTRAL INDEX KEY: 0001838456 ORGANIZATION NAME: FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 000-55546 FILM NUMBER: 241294783 MAIL ADDRESS: STREET 1: 28 REICHERT CIRCLE CITY: WESTPORT STATE: CT ZIP: 06880 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: Kaden John CENTRAL INDEX KEY: 0001764971 ORGANIZATION NAME: FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 000-55546 FILM NUMBER: 241294785 MAIL ADDRESS: STREET 1: 28 REICHERT CIRCLE CITY: WESTPORT STATE: CT ZIP: 06880 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: Stiefel Sean CENTRAL INDEX KEY: 0001765017 ORGANIZATION NAME: FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 000-55546 FILM NUMBER: 241294784 MAIL ADDRESS: STREET 1: 28 REICHERT CIRCLE CITY: WESTPORT STATE: CT ZIP: 06880 FORMER NAME: FORMER CONFORMED NAME: Steifel Sean DATE OF NAME CHANGE: 20190116 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: Navy Capital Green Co-Invest Partners LLC CENTRAL INDEX KEY: 0001766928 ORGANIZATION NAME: FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 000-55546 FILM NUMBER: 241294786 BUSINESS ADDRESS: STREET 1: 28 REICHERT CIRCLE CITY: WESTPORT STATE: CT ZIP: 06880 BUSINESS PHONE: 646-916-4870 MAIL ADDRESS: STREET 1: 28 REICHERT CIRCLE CITY: WESTPORT STATE: CT ZIP: 06880 ISSUER: COMPANY DATA: COMPANY CONFORMED NAME: CLS Holdings USA, Inc. CENTRAL INDEX KEY: 0001522222 STANDARD INDUSTRIAL CLASSIFICATION: RETAIL-MISCELLANEOUS RETAIL [5900] ORGANIZATION NAME: 07 Trade & Services IRS NUMBER: 000000000 STATE OF INCORPORATION: NV FISCAL YEAR END: 0531 BUSINESS ADDRESS: STREET 1: 516 S. 4TH STREET CITY: LAS VEGAS STATE: NV ZIP: 89101 BUSINESS PHONE: (416) 992-4539 MAIL ADDRESS: STREET 1: 516 S. 4TH STREET CITY: LAS VEGAS STATE: NV ZIP: 89101 FORMER COMPANY: FORMER CONFORMED NAME: Adelt Design, Inc. DATE OF NAME CHANGE: 20110601 4 1 ownership.xml FORM 4 X0508 4 2024-09-10 1 0001522222 CLS Holdings USA, Inc. CLSH 0001764863 Navy Capital Green Management, LLC 28 REICHERT CIRCLE WESTPORT CT 06880 0 0 1 0 0001764864 Navy Capital Green Management Partners LLC 28 REICHERT CIRCLE WESTPORT CT 06880 0 0 1 0 0001688278 Navy Capital Green Fund, LP 28 REICHERT CIRCLE WESTPORT CT 06880 0 0 1 0 0001760813 Navy Capital Green Co-Invest Fund, LLC 28 REICHERT CIRCLE WESTPORT CT 06880 0 0 1 0 0001766928 Navy Capital Green Co-Invest Partners LLC 28 REICHERT CIRCLE WESTPORT CT 06880 0 0 1 0 0001764971 Kaden John C/O NAVY CAPITAL GREEN MANAGEMENT LLC 28 REICHERT CIRCLE WESTPORT CT 06880 0 0 1 0 0001765017 Stiefel Sean C/O NAVY CAPITAL GREEN MANAGEMENT LLC 28 REICHERT CIRCLE WESTPORT CT 06880 0 0 1 0 0001838456 GULATI CHETAN C/O NAVY CAPITAL GREEN MANAGEMENT LLC 28 REICHERT CIRCLE WESTPORT CT 06880 0 0 1 0 0 Common Stock 2024-09-10 2024-09-10 4 S 0 15488901 .0387 D 0 I See Footnotes Convertible Notes 0.07 2024-09-10 4 J 0 1885555.37 2000000 A 2018-10-31 2028-01-31 Common Stock 40404757 0 I See Footnotes Convertible Notes 0.07 2024-09-10 4 J 0 375000.70 2000000 A 2018-10-31 2028-01-31 Common Stock 8035728 0 I See Footnotes ConvertibleNotes 0.07 2024-09-10 4 J 0 96386.27 2000000 A 2023-12-21 2028-01-31 Common Stock 2065419 0 I See Footnotes Warrant 0.1 2024-09-10 4 J 0 6177216 2000000 A 2023-12-29 2026-12-29 Common Stock 6177216 0 I See Footnotes This Form 4 is being filed by Navy Capital Green Management, LLC (the "Investment Manager") on behalf of itself and Navy Capital Green Management Partners, LLC ("NCG"), Navy Capital Green Fund, LP (the "Fund"), Navy Capital Green Co-Invest Fund, LLC (the "Co-Investment Fund"), Navy Capital Green Co-Invest Partners, LLC ("NCGP"), Navy Capital Green Holdings II, LLC ("Holdings" and, together with the Fund and the Co-Investment Fund, "Navy Funds"), John Kaden, Chetan Gulati and Sean Stiefel. John Kaden, Chetan Gulati and Sean Stiefel are the managers of the Investment Manager, NCG, and NCGP. NCG is the general partner of the Fund and NCGP is the manager of the Co-Investment Fund. On September 10, 2024 the Issuer entered into a Redemption Agreement (the "Redemption Agreement") with the Navy Funds to redeem (i) the Navy Funds' shares of the Issuer's common stock (the "Shares"); (ii) The Navy Funds' warrants to purchase the Issuer's common stock (the "Warrants"); (iii) The Fund's right, title and interest to (x) the Third Amended and Restated Debenture, dated December 29, 2023, between the Fund and the Issuer (the "Parties") (the "Third Amended and Restated Debenture"), and (y) the Second Amended and Restated Unsecured Debenture No. CLSH2023-AD6, dated December 31, 2023, between the Parties (the "Second Amended and Restated Unsecured Debenture" together with the Third Amended and Restated Debenture, the "Debentures"); Continuance) and (iv) the Co-Investment Fund's right title, and interest in the Third Amended and Restated Debenture, dated December 29, 2023, between the Issuer and the Co-Investment Fund (the "Co-Investment Debenture" together with the Shares, the Warrants and the Debentures, the "Redeemed Securities"). The repurchase price for all of the Warrants and the Debentures was collectively $2,000,000. The repurchase price for all of the Shares was $600,000. The Redemption Agreement aimed to, among other things, redeem the entirety of the Navy Funds' rights, titles and interests to the Redeemed Securities. In accordance with Instruction 4(b)(iv) of Form 4, the entire amount of the Issuer's derivative securities held by the Fund, Co-Investment Fund and Holdings is reported herein. Each of the Investment Manager, NCG, NCGP, Holdings, John Kaden, Chetan Gulati and Sean Stiefel disclaims, for purposes of Section 16 of the Securities Exchange Act of 1934, beneficial ownership of such securities, except to the extent of his/its indirect pecuniary interest therein, and this report shall not be deemed an admission that either the Investment Manager, NCG, NCGP, Holdings, John Kaden, Chetan Gulati and Sean Stiefel are the beneficial owner of such securities for purposes of Section 16 or for any other purposes. /s/ John Kaden, Manager of Navy Capital Green Management, LLC 2024-09-12 /s/ Sean Stiefel, Manager of Navy Capital Green Management, LLC 2024-09-12 /s/ Chetan Gulati, Manager of Navy Capital Green Management, LLC 2024-09-12 EX-24 2 ex_24.htm EXHIBIT 24

Exhibit 24

Information Regarding Joint Filers

Designated Filer of Form 4: Navy Capital Green Management, LLC

Date of Earliest Transaction Required to be Reported: 9/10/2024

Name and Ticker Symbol: CLS Holdings USA, Inc. (CLSH)

Names:

Navy Capital Green Management Partners, LLC, Navy Capital Green Fund, LP, Navy Capital Green Co-Invest Fund, LLC, Navy Capital Green Co-Invest Partners, LLC, John Kaden, Chetan Gulati and Sean Stiefel

Address:

Navy Capital Green Management Partners, LLC

28 Reichert Circle

Westport, CT 06880

Signatures:

The undersigned, Navy Capital Green Management Partners, LLC, Navy Capital Green Fund, LP, Navy Capital Green Co-Invest Fund, LLC, Navy Capital Green Co-Invest Partners, LLC, John Kaden, Chetan Gulati and Sean Stiefel are jointly filing the attached Statement of Beneficial Ownership of Securities on Form 4 with Navy Capital Green Management, LLC with respect to the beneficial ownership of securities of CLS Holdings USA, Inc.

NAVY CAPITAL GREEN MANAGEMENT PARTNERS, LLC

By: John Kaden, manager

By:	/s/ John Kaden
John Kaden

By: Sean Stiefel, manager

By:	/s/ Sean Stiefel
Sean Stiefel

By: Chetan Gulati, manager

By: /s/ Chetan Gulati
Chetan Gulati

NAVY CAPITAL GREEN FUND, LP

By: Navy Capital Green Management Partners, LLC, its general partner.

By: John Kaden, manager of general partner

By:	/s/ John Kaden
John Kaden

By: Sean Stiefel, manager of general partner

By:	/s/ Sean Stiefel
Sean Stiefel

By: Chetan Gulati, manager of general partner

By:	/s/ Chetan Gulati
Chetan Gulati

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

*If the form is filed by more than one reporting person, see Instruction 4(b)(v).

Potential persons who are to respond to the collection of information contained
in this form are not required to respond unless the form displays
a currently valid OMB control number.

SEC 1474 (11-11)

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NAVY CAPITAL GREEN CO-INVEST FUND, LLC

By: Navy Capital Green Co-Invest Partners, LLC

By: John Kaden, manager

By:	/s/ John Kaden
John Kaden

By: Sean Stiefel, manager

By:	/s/ Sean Stiefel
Sean Stiefel

By: Chetan Gulati, manager

By:	/s/ Chetan Gulati
Chetan Gulati

NAVY CAPITAL GREEN CO-INVEST PARTNERS, LLC

By: John Kaden, manager

By:	/s/ John Kaden
John Kaden

By: Sean Stiefel, manager

By:	/s/ Sean Stiefel
Sean Stiefel

By: Chetan Gulati, manager

By:	/s/ Chetan Gulati
Chetan Gulati

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