# EDGAR Filing Document

**Accession Number:** 0001856236
**File Stem:** 0000902664-26-000855
**Filing Date:** 2026-2
**Character Count:** 15300
**Document Hash:** 0e866fcc27c9061a1b66d31a3e88eebf
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000902664-26-000855.hdr.sgml**: 20260211

**ACCESSION NUMBER**: 0000902664-26-000855

**CONFORMED SUBMISSION TYPE**: SCHEDULE 13G/A

**PUBLIC DOCUMENT COUNT**: 1

**FILED AS OF DATE**: 20260211

**DATE AS OF CHANGE**: 20260211

**SUBJECT COMPANY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** European Wax Center, Inc.
- **CENTRAL INDEX KEY:** 0001856236
- **STANDARD INDUSTRIAL CLASSIFICATION:** SERVICES-PERSONAL SERVICES [7200]
- **ORGANIZATION NAME:** 07 Trade & Services
- **EIN:** 863150064
- **FISCAL YEAR END:** 0106

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13G/A
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 005-93236
- **FILM NUMBER:** 26621156

**BUSINESS ADDRESS:**
- **STREET 1:** 5830 GRANITE PARKWAY, 3RD FLOOR
- **CITY:** PLANO
- **STATE:** TX
- **ZIP:** 75024
- **BUSINESS PHONE:** 469-264-8123

**MAIL ADDRESS:**
- **STREET 1:** 5830 GRANITE PARKWAY, 3RD FLOOR
- **CITY:** PLANO
- **STATE:** TX
- **ZIP:** 75024
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Ararat Capital Management LP
- **CENTRAL INDEX KEY:** 0001768757

**ORGANIZATION NAME:**
- **EIN:** 810732601
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13G/A

**BUSINESS ADDRESS:**
- **STREET 1:** 2 RAILROAD PLACE
- **CITY:** WESTPORT
- **STATE:** CT
- **ZIP:** 06880
- **BUSINESS PHONE:** 646-779-6400

**MAIL ADDRESS:**
- **STREET 1:** 2 RAILROAD PLACE
- **CITY:** WESTPORT
- **STATE:** CT
- **ZIP:** 06880

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Ararat Capital Management, LP
- **DATE OF NAME CHANGE:** 20190222

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## SCHEDULE 13G

### Under the Securities Exchange Act of 1934

**(Amendment No. 4)**

**Issuer:** European Wax Center, Inc.

**Title of Class of Securities:** Class A Common Stock, $0.00001 par value per share

**CUSIP Number:** 29882P106

**Date of Event Which Requires Filing of this Statement:** 12/31/2025

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

- [ ] Rule 13d-1(b)

- [x] Rule 13d-1(c)

- [ ] Rule 13d-1(d)

---

| 1. | Names of Reporting Persons<br>Ararat Capital Management LP | Names of Reporting Persons<br>Ararat Capital Management LP |
|:---|:---|:---|:---|
| 2. | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] |
| 3. | SEC Use Only | SEC Use Only |
| 4. | Citizenship or Place of Organization<br>DE | Citizenship or Place of Organization<br>DE |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 5. | Sole Voting Power<br>0.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 6. | Shared Voting Power<br>2218002.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 7. | Sole Dispositive Power<br>0.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 8. | Shared Dispositive Power<br>2218002.00 |
| 9. | Aggregate Amount Beneficially Owned by Each Reporting Person<br>2218002.00 | Aggregate Amount Beneficially Owned by Each Reporting Person<br>2218002.00 |
| 10. | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] |
| 11. | Percent of Class Represented by Amount in Row (9)<br>5.0% | Percent of Class Represented by Amount in Row (9)<br>5.0% |
| 12. | Type of Reporting Person (See Instructions)<br>IA, PN | Type of Reporting Person (See Instructions)<br>IA, PN |

**Comment for Type of Reporting Person:** The information set forth on this cover page reflects information as of the date of this filing. As of  December 31, 2025, this Reporting Person may have been deemed to beneficially own 2,140,700 shares  of Class A Common Stock (as defined in Item 2(a)) representing 4.9% of the outstanding shares of  Class A Common Stock as of such time.

---

| 1. | Names of Reporting Persons<br>Narrow River Capital Partners Master Fund, L.P. | Names of Reporting Persons<br>Narrow River Capital Partners Master Fund, L.P. |
|:---|:---|:---|:---|
| 2. | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] |
| 3. | SEC Use Only | SEC Use Only |
| 4. | Citizenship or Place of Organization<br>E9 | Citizenship or Place of Organization<br>E9 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 5. | Sole Voting Power<br>0.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 6. | Shared Voting Power<br>2077603.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 7. | Sole Dispositive Power<br>0.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 8. | Shared Dispositive Power<br>2077603.00 |
| 9. | Aggregate Amount Beneficially Owned by Each Reporting Person<br>2077603.00 | Aggregate Amount Beneficially Owned by Each Reporting Person<br>2077603.00 |
| 10. | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] |
| 11. | Percent of Class Represented by Amount in Row (9)<br>4.7% | Percent of Class Represented by Amount in Row (9)<br>4.7% |
| 12. | Type of Reporting Person (See Instructions)<br>PN | Type of Reporting Person (See Instructions)<br>PN |

**Comment for Type of Reporting Person:** The information set forth on this cover page reflects information as of the date of this filing. As of  December 31, 2025, this Reporting Person may have been deemed to beneficially own 2,140,700 shares  of Class A Common Stock representing 4.9% of the outstanding shares of Class A Common Stock as of  such time.

---

| 1. | Names of Reporting Persons<br>Raffi Tokatlian | Names of Reporting Persons<br>Raffi Tokatlian |
|:---|:---|:---|:---|
| 2. | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] |
| 3. | SEC Use Only | SEC Use Only |
| 4. | Citizenship or Place of Organization<br>X1 | Citizenship or Place of Organization<br>X1 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 5. | Sole Voting Power<br>0.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 6. | Shared Voting Power<br>2218002.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 7. | Sole Dispositive Power<br>0.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 8. | Shared Dispositive Power<br>2218002.00 |
| 9. | Aggregate Amount Beneficially Owned by Each Reporting Person<br>2218002.00 | Aggregate Amount Beneficially Owned by Each Reporting Person<br>2218002.00 |
| 10. | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] |
| 11. | Percent of Class Represented by Amount in Row (9)<br>5.0% | Percent of Class Represented by Amount in Row (9)<br>5.0% |
| 12. | Type of Reporting Person (See Instructions)<br>IN | Type of Reporting Person (See Instructions)<br>IN |

**Comment for Type of Reporting Person:** The information set forth on this cover page reflects information as of the date of this filing. As of  December 31, 2025, this Reporting Person may have been deemed to beneficially own 2,140,700 shares  of Class A Common Stock representing 4.9% of the outstanding shares of Class A Common Stock as of  such time.

---

**Item 1(a). Name of Issuer:**
European Wax Center, Inc.

**Item 1(b). Address of Issuer's Principal Executive Offices:**
5830 Granite Parkway, 3rd Floor, Plano TX 75024

**Item 2(a). Name of Person Filing:**
This report on Schedule 13G (this "Schedule 13G"), is being jointly filed by (i) Ararat Capital Management, LP ("Ararat"), a Delaware limited partnership, the investment manager to a certain managed account and to Narrow River Capital Partners Master Fund, L.P. (the "Master Fund"), a Cayman Islands exempted limited partnership, that holds (x) as of the date hereof, 2,077,603 shares of Class A common stock, $0.00001 par value per share (the "Class A Common Stock"), of European Wax Center, Inc. (the "Company") and (y) as of December 31, 2025, 2,140,700 shares of Class A Common Stock, as reported on this Schedule 13G; (ii) the Master Fund; and (iii) Raffi Tokatlian, as the sole member and manager of Ararat Capital Management GP, LLC ("Ararat GP"), the general partner of Ararat ("Mr. Tokatlian," and, collectively with Ararat and the Master Fund, the "Reporting Persons").

The shares of  Class A Common Stock reported herein may be deemed to be beneficially owned (x) by the Master Fund, (y) indirectly by Ararat, as the investment manager to the Master Fund, and (z) indirectly by Mr. Tokatlian, as the sole member and manager of Ararat GP.

**Item 2(b). Address of Principal Business Office:**
The address for the Reporting Persons is: 2 Railroad Place, Westport, CT 06880.

**Item 2(c). Citizenship:**
Ararat is organized under the laws of the State of Delaware. Mr. Tokatlian is a citizen of the United States. The Master Fund is a Cayman Islands exempted limited partnership.

**Item 2(d). Title of Class of Securities:**
Class A Common Stock, $0.00001 par value per share

**Item 2(e). CUSIP Number:**
29882P106

**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)(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), if filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:

(k) [ ] Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).

**Item 4. Ownership:**

**(a) Amount beneficially owned:**

The information required by Item 4(a) is set forth in Row 9 and the comment box of the cover page for each of the Reporting Persons and is incorporated herein by reference.
The percentages set forth in this Schedule 13G as of December 31, 2025 are calculated based upon an aggregate of 43,692,903 shares of Class A Common Stock reported to be outstanding as of November 7, 2025, as reported in the Company's Quarterly Report on Form 10-Q for the quarterly period ended October 4, 2025, filed with the Securities and Exchange Commission on November 12, 2025.  The percentages set forth in this Schedule 13G as of the date hereof are calculated based upon an aggregate of 44,017,971 shares of Class A Common Stock outstanding as of February 6, 2026, as disclosed in Exhibit 2.1 attached to the Company's Current Report on Form 8-K, filed with the Securities and Exchange Commission on February 10, 2026.
The filing of this statement should not be construed as an admission that any Reporting Person is, for the purposes of Sections 13 of the Securities Exchange Act of 1934, the beneficial owner of the shares of Class A Common Stock reported herein.

**(b) Percent of class:**

5.1%

**(c) Number of shares as to which the person has:**

**(i) Sole power to vote or to direct the vote:**

The information required by Item 4(c)(i) is set forth in Row 5 and the comment box of the cover page for each of the Reporting Persons and is incorporated herein by reference.

**(ii) Shared power to vote or to direct the vote:**

The information required by Item 4(c)(ii) is set forth in Row 6 and the comment box of the cover page for each of the Reporting Persons and is incorporated herein by reference.

**(iii) Sole power to dispose or to direct the disposition of:**

The information required by Item 4(c)(iii) is set forth in Row 7 and the comment box of the cover page for each of the Reporting Persons and is incorporated herein by reference.

**(iv) Shared power to dispose or to direct the disposition of:**

The information required by Item 4(c)(iv) is set forth in Row 8 and the comment box of the cover page for each of the Reporting Persons and is incorporated herein by reference.

**Item 5. Ownership of Five Percent or Less of a Class.**

[x] 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 5 Percent on Behalf of Another Person.**

See Item 2(a).

**Item 7. Identification and Classification of the Subsidiary**

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, other than activities solely in connection with a nomination under ?? 240.14a-11.

### 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.

**Ararat Capital Management LP**

**Date:** 02/11/2026

**By:** /s/ Raffi Tokatlian

**Name & Title:** By: Ararat Capital Management GP, LLC, its general partner, By: Raffi Tokatlian, Managing Member

**Narrow River Capital Partners Master Fund, L.P.**

**Date:** 02/11/2026

**By:** /s/ Raffi Tokatlian

**Name & Title:** By: Narrow River Capital Partners GP, LLC, its general partner, By: Raffi Tokatlian, Managing Member

**Raffi Tokatlian**

**Date:** 02/11/2026

**By:** /s/ Raffi Tokatlian

**Name & Title:** By: Raffi Tokatlian, Individually