SEC Comment Letter 0000000000-25-002370 to Namdar Family Holding LLC (CIK 0001955495)
Namdar Family Holding LLC (CIK 0001955495)
Date: March 3, 2025 · CIK: 0001955495 · Accession: 0000000000-25-002370
AI Filing Summary & Sentiment
Letter
STINSON February28,2025 UnitedStates SecuritiesandExchangeCommission DivisionofCorporationFinance OfficeofMergers&Acquisitions 100FStreet,NE Washington,DC20549-0213 Attention:LauraMcKenzie NicholasPanosKimD.Larsen PARTNER DIRECT:202.572.9912 OFFICE:202.785.9100 kim.larsen@stinson.com Re:SignatureBankSchedule13DfiledDecember9,2024HoldingLLCandIgalNamdar;File No.005-81540 DearMs.McKenzieandMr.Panos: WehavereceivedyourletterdatedFebruary24,2024relatedtotheSchedule13Dwefiled onDecember9,2024onbehalfofNamdarFamilyHoldingsLLCandIgalNamdarrelated toholdingsinSignatureBank(SBNY). LateFiling.WeacknowledgethatSchedule13DrelatedtoNamdarFamilyHoldingLLC andIgalNamdarwasfiledonDecember9,2024,whichwasafterthefivebusiness-day deadlinestipulatedbySection13(d)oftheSecuritiesandExchangeActof1934andrule 13d-1thereunder.Weremain,however,unsurewhetherSBNYinfactremainssubjectto 1934ExchangeActreportingobligationsoriftheyaresuspendedorifitisin noncompliance. Timeline.UponbeingnotifiedbytheclientonWednesday,December4,2024regarding itsacquisitionofSBNYshares,werequestedinformationonThursday,December5,2024 fromitsbroker,OdeonCapitalGroupLLCofthetradesthathadbeeneffected,whichwas providedlaterthatsameday.Wethenanalyzedthetradingrecordsandcomparedthem tothenumberofoutstandingsharesofcommonstockofSBNY,abankthatatthattime hadceasedSECreporting,beenclosedasabankandwithrespecttowhichtheFDIChad beenappointedasareceiver.Weestablishedthatthe5%thresholdhadbeenexceededon November18,2024andwepreparedandfiledtheSchedule13DonMonday,December9, 2024. ComplianceProcedures.WeunderstandthatNamdarFamilyHoldingLLChas internalprocedurestotrackitsholdingsandcoordinatewithOdeonCapitaltoassure compliancewithmandatorySECfilings.NamdarFamilyHoldingLLCandlgalNamdar hadearlierengagedStinsonLLPtoundertakesuchfilingsontheirbehalf.Theprocessdid notworkinthisinstanceandNamdarFamilyHoldingLLC,OdeonCapitalGroup,LLC 1775PennsylvaniaAvenueN.W.,Suite800,WashingtonD.C.20006 STINSONLLP\STINSON.COM CORE/9995000.0044_0064/196638359.l
February28,2025 Page2 andStinsonareundertakingfurtherstepstoassurecoordinationinmonitoringNamdar FamilyHoldingLLC'stradestoassuretimelyfilingrequiredsecuritiesfilings,including improvedcommunications,monitoring,calendarremindersandeducationforincreased complianceassurance. WearefullycommittedtocooperatingwiththeSECinthismatterandwillpromptly provideanyadditionalinformationyoumayrequire.Weunderstandtheimportanceof timelySchedule13Dfilingsandsincerelyregretthedelayinthisinstance. AmendedSchedule13DFiling.Finally,weareuncertainabouttheexactfilingstatus ofSBNY,willfileanamendedSchedule13Dtoincludecertaincapitalmakingclearthatall indicatedtradeswereacquisitionsbyNamdarFamilyHoldingsLLCofsharesofcommon stockofSBNYandwereeffectedasopenmarketpurchases.Wearealsoupdating informationinsuchamendedSchedule13DontheownershipinSBNYduetoapurchase byNamdarFamilyHoldingLLCintheopenmarketonDecember16,20240f214,094 shares,whichincreasedtheNamdarFamilyHoldingLLC'sownershipfrom3,324,406 sharesto3,538,500sharesandincreaseditspercentageownershipfrom5.3%to5.6%. Sincerely, StinsonLLP KimD.Larsen KDL:lmh CORE/9995000.0044_0064/196638359.l
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STINSON February28,2025 UnitedStates SecuritiesandExchangeCommission DivisionofCorporationFinance OfficeofMergers&Acquisitions 100FStreet,NE Washington,DC20549-0213 Attention:LauraMcKenzie NicholasPanosKimD.Larsen PARTNER DIRECT:202.572.9912 OFFICE:202.785.9100 kim.larsen@stinson.com Re:SignatureBankSchedule13DfiledDecember9,2024HoldingLLCandIgalNamdar;File No.005-81540 DearMs.McKenzieandMr.Panos: WehavereceivedyourletterdatedFebruary24,2024relatedtotheSchedule13Dwefiled onDecember9,2024onbehalfofNamdarFamilyHoldingsLLCandIgalNamdarrelated toholdingsinSignatureBank(SBNY). LateFiling.WeacknowledgethatSchedule13DrelatedtoNamdarFamilyHoldingLLC andIgalNamdarwasfiledonDecember9,2024,whichwasafterthefivebusiness-day deadlinestipulatedbySection13(d)oftheSecuritiesandExchangeActof1934andrule 13d-1thereunder.Weremain,however,unsurewhetherSBNYinfactremainssubjectto 1934ExchangeActreportingobligationsoriftheyaresuspendedorifitisin noncompliance. Timeline.UponbeingnotifiedbytheclientonWednesday,December4,2024regarding itsacquisitionofSBNYshares,werequestedinformationonThursday,December5,2024 fromitsbroker,OdeonCapitalGroupLLCofthetradesthathadbeeneffected,whichwas providedlaterthatsameday.Wethenanalyzedthetradingrecordsandcomparedthem tothenumberofoutstandingsharesofcommonstockofSBNY,abankthatatthattime hadceasedSECreporting,beenclosedasabankandwithrespecttowhichtheFDIChad beenappointedasareceiver.Weestablishedthatthe5%thresholdhadbeenexceededon November18,2024andwepreparedandfiledtheSchedule13DonMonday,December9, 2024. ComplianceProcedures.WeunderstandthatNamdarFamilyHoldingLLChas internalprocedurestotrackitsholdingsandcoordinatewithOdeonCapitaltoassure compliancewithmandatorySECfilings.NamdarFamilyHoldingLLCandlgalNamdar hadearlierengagedStinsonLLPtoundertakesuchfilingsontheirbehalf.Theprocessdid notworkinthisinstanceandNamdarFamilyHoldingLLC,OdeonCapitalGroup,LLC 1775PennsylvaniaAvenueN.W.,Suite800,WashingtonD.C.20006 STINSONLLP\STINSON.COM CORE/9995000.0044_0064/196638359.l February28,2025 Page2 andStinsonareundertakingfurtherstepstoassurecoordinationinmonitoringNamdar FamilyHoldingLLC'stradestoassuretimelyfilingrequiredsecuritiesfilings,including improvedcommunications,monitoring,calendarremindersandeducationforincreased complianceassurance. WearefullycommittedtocooperatingwiththeSECinthismatterandwillpromptly provideanyadditionalinformationyoumayrequire.Weunderstandtheimportanceof timelySchedule13Dfilingsandsincerelyregretthedelayinthisinstance. AmendedSchedule13DFiling.Finally,weareuncertainabouttheexactfilingstatus ofSBNY,willfileanamendedSchedule13Dtoincludecertaincapitalmakingclearthatall indicatedtradeswereacquisitionsbyNamdarFamilyHoldingsLLCofsharesofcommon stockofSBNYandwereeffectedasopenmarketpurchases.Wearealsoupdating informationinsuchamendedSchedule13DontheownershipinSBNYduetoapurchase byNamdarFamilyHoldingLLCintheopenmarketonDecember16,20240f214,094 shares,whichincreasedtheNamdarFamilyHoldingLLC'sownershipfrom3,324,406 sharesto3,538,500sharesandincreaseditspercentageownershipfrom5.3%to5.6%. Sincerely, StinsonLLP KimD.Larsen KDL:lmh CORE/9995000.0044_0064/196638359.l