Sec Form 13G Filing - Silver Ring Value Partners Fund LP filing for CHARLES & COLVARD LTD COM (CTHR) - 2022-02-11

Insider filing report for Changes in Beneficial Ownership

  • Schedule 13G & 13D forms are used to report a party's ownership of stock which exceeds 5% of a company's total stock issue.
  • Schedule 13G is a shorter version of Schedule 13D with fewer reporting requirements.
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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

SCHEDULE 13G

Under the Securities Exchange Act of 1934

(Amendment No. 1)*

 

 

Charles & Colvard, Ltd.

(Name of Issuer)

Common Stock

(Title of Class of Securities)

159765106

(CUSIP Number)

December 31, 2021

(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. 159765106

 

  1    

  Names of Reporting Persons.

  I.R.S. Identification Nos. of above persons (entities only)

 

  Silver Ring Value Partners Fund, LP

  2  

  Check the Appropriate Box if a Member of a Group (See Instructions)

  (a)  ☐         (b)  ☒

 

  3  

  SEC Use Only

 

  4  

  Citizenship or Place of Organization.

 

  Delaware

Number of

Shares

 Beneficially 

Owned by

Each

Reporting

Person

With

   5     

  Sole Voting Power

 

  0 shares

   6   

  Shared Voting Power

 

  0 shares

  Refer to Item 4 below.

   7   

  Sole Dispositive Power

 

  0 shares

   8   

  Shared Dispositive Power

 

  0 shares

  Refer to Item 4 below.

  9    

  Aggregate Amount Beneficially Owned by Each Reporting Person

 

  0 shares

  Refer to Item 4 below.

10  

  Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)

 

  ☐ N/A

11  

  Percent of Class Represented by Amount in Row (9)*

 

  0%

  Refer to Item 4 below.

12  

  Type of Reporting Person (See Instructions)

 

  PN (Partnership)


CUSIP NO. 159765106

 

  1    

  Names of Reporting Persons.

  I.R.S. Identification Nos. of above persons (entities only)

 

  Silver Ring Value Partners GP, LLC

  2  

  Check the Appropriate Box if a Member of a Group (See Instructions)

  (a)  ☐         (b)  ☒

 

  3  

  SEC Use Only

 

  4  

  Citizenship or Place of Organization.

 

  Delaware

Number of

Shares

 Beneficially 

Owned by

Each

Reporting

Person

With

   5     

  Sole Voting Power

 

  0 shares

   6   

  Shared Voting Power

 

  0 shares

  Refer to Item 4 below.

   7   

  Sole Dispositive Power

 

  0 shares

   8   

  Shared Dispositive Power

 

  0 shares

  Refer to Item 4 below.

  9    

  Aggregate Amount Beneficially Owned by Each Reporting Person

 

  0 shares

  Refer to Item 4 below.

10  

  Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)

 

  ☐ N/A

11  

  Percent of Class Represented by Amount in Row (9)*

 

  0%

  Refer to Item 4 below.

12  

  Type of Reporting Person (See Instructions)

 

  OO (Limited Liability Company)


CUSIP NO. 159765106

 

  1    

  Names of Reporting Persons.

  I.R.S. Identification Nos. of above persons (entities only)

 

  Silver Ring Value Partners, LP

  2  

  Check the Appropriate Box if a Member of a Group (See Instructions)

  (a)  ☐         (b)  ☒

 

  3  

  SEC Use Only

 

  4  

  Citizenship or Place of Organization.

 

  Massachusetts

Number of

Shares

 Beneficially 

Owned by

Each

Reporting

Person

With

   5     

  Sole Voting Power

 

  0 shares

   6   

  Shared Voting Power

 

  0 shares

  Refer to Item 4 below.

   7   

  Sole Dispositive Power

 

  0 shares

   8   

  Shared Dispositive Power

 

  0 shares

  Refer to Item 4 below.

  9    

  Aggregate Amount Beneficially Owned by Each Reporting Person

 

  0 shares

  Refer to Item 4 below.

10  

  Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)

 

  ☐ N/A

11  

  Percent of Class Represented by Amount in Row (9)*

 

  0%

  Refer to Item 4 below.

12  

  Type of Reporting Person (See Instructions)

 

  PN (Partnership)


CUSIP NO. 159765106

 

  1    

  Names of Reporting Persons.

  I.R.S. Identification Nos. of above persons (entities only)

 

  Gary Mishuris

  2  

  Check the Appropriate Box if a Member of a Group (See Instructions)

  (a)  ☐         (b)  ☒

 

  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

 

  0 shares

   6   

  Shared Voting Power

 

  0 shares

  Refer to Item 4 below.

   7   

  Sole Dispositive Power

 

  0 shares

   8   

  Shared Dispositive Power

 

  0 shares

  Refer to Item 4 below.

  9    

  Aggregate Amount Beneficially Owned by Each Reporting Person

 

  0 shares

  Refer to Item 4 below.

10  

  Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)

 

  ☐ N/A

11  

  Percent of Class Represented by Amount in Row (9)*

 

  0%

  Refer to Item 4 below.

12  

  Type of Reporting Person (See Instructions)

 

  IN (Individual)


CUSIP NO. 159765106

 

Item 1.

 

(a)

  

Name of Issuer

  

Charles & Colvard, Ltd.

(b)

  

Address of Issuer’s Principal Executive Offices

  

170 Southport Drive, Morrisville, NC 27560

 

Item 2.

 

(a)    Name of Person Filing
   Silver Ring Value Partners Fund, LP
Silver Ring Value Partners GP, LLC
Silver Ring Value Partners, LP
Gary Mishuris
(b)    Address of Principal Business Office or, if none, Residence
  

One Boston Place, Suite 2600

Boston, MA 02108

(c)    Citizenship
  

Silver Ring Value Partners Fund, LP – Delaware
Silver Ring Value Partners GP, LLC – Delaware

Silver Ring Value Partners, LP – Massachusetts
Gary Mishuris - United States

(d)    Title of Class of Securities
   Common Stock
(e)    CUSIP Number
   159765106

 

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

 

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***
  

Silver Ring Value Partners Fund, LP – 0 shares
Silver Ring Value Partners GP, LLC – 0 shares

Silver Ring Value Partners, LP – 0 shares

Gary Mishuris – 0 shares

(b)    Percent of Class
  

Silver Ring Value Partners Fund, LP – 0%
Silver Ring Value Partners GP, LLC – 0%

Silver Ring Value Partners, LP – 0%
Gary Mishuris – 0%

(c)    Number of shares as to which such person has:
   (i)    sole power to vote or to direct the vote
     

Silver Ring Value Partners Fund, LP – 0 shares
Silver Ring Value Partners GP, LLC – 0 shares

Silver Ring Value Partners, LP – 0 shares

Gary Mishuris – 0 shares

   (ii)    shared power to vote or to direct the vote
     

Silver Ring Value Partners Fund, LP – 0 shares
Silver Ring Value Partners GP, LLC – 0 shares

Silver Ring Value Partners, LP – 0 shares

Gary Mishuris – 0 shares

   (iii)    sole power to dispose or to direct the disposition of
     

Silver Ring Value Partners Fund, LP – 0 shares
Silver Ring Value Partners GP, LLC – 0 shares

Silver Ring Value Partners, LP – 0 shares

Gary Mishuris – 0 shares

   (iv)    shared power to dispose or to direct the disposition of
     

Silver Ring Value Partners Fund, LP – 0 shares
Silver Ring Value Partners GP, LLC – 0 shares

Silver Ring Value Partners, LP – 0 shares

Gary Mishuris – 0 shares


***

Shares reported herein for Silver Ring Value Partners, LP represent shares which are beneficially owned by Silver Ring Value Partners Fund, LP (the “Fund”), as reported herein. Silver Ring Value Partners GP, LLC serves as the general partner of the Fund. Silver Ring Value Partners, LP serves as the investment manager to the Fund. Gary Mishuris serves as the managing member of Silver Ring Value Partners GP, LLC and the general partner of Silver Ring Value Partners, LP. Each of the Reporting Persons disclaims beneficial ownership of the shares reported herein except to the extent of its or his pecuniary interest therein.

 

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  [X].

 

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

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 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.

 

Exhibits    Exhibit
99.1    Joint Filing Agreement by and among the Reporting Persons.


CUSIP NO. 159765106

 

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.

February 10, 2022

 

SILVER RING VALUE PARTNERS FUND, LP
By:   Silver Ring Value Partners GP, LLC
  its General Partner
By:  

/S/ Gary Mishuris

         Gary Mishuris, Managing Member
SILVER RING VALUE PARTNERS GP, LLC
By:  

/S/ Gary Mishuris

         Gary Mishuris, Managing Member
SILVER RING VALUE PARTNERS, LP
By:  

/S/ Gary Mishuris

         Managing Member of its General Partner
GARY MISHURIS

/S/ Gary Mishuris

Gary Mishuris