# EDGAR Filing Document

**Accession Number:** 0001718951
**File Stem:** 0001104659-25-081863
**Filing Date:** 2025-8
**Character Count:** 18328
**Document Hash:** af4924357bcbde388e1df77aca880430
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001104659-25-081863.hdr.sgml**: 20250822

**ACCESSION NUMBER**: 0001104659-25-081863

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

**PUBLIC DOCUMENT COUNT**: 2

**FILED AS OF DATE**: 20250822

**DATE AS OF CHANGE**: 20250822

**SUBJECT COMPANY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Conifer Holdings, Inc.
- **CENTRAL INDEX KEY:** 0001502292
- **STANDARD INDUSTRIAL CLASSIFICATION:** FIRE, MARINE & CASUALTY INSURANCE [6331]
- **ORGANIZATION NAME:** 02 Finance
- **EIN:** 271298795
- **STATE OF INCORPORATION:** MI
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13D/A
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 005-89312
- **FILM NUMBER:** 251246163

**BUSINESS ADDRESS:**
- **STREET 1:** 3001 WEST BIG BEAVER ROAD
- **STREET 2:** SUITE 319
- **CITY:** TROY
- **STATE:** MI
- **ZIP:** 48084
- **BUSINESS PHONE:** (248) 559-0840

**MAIL ADDRESS:**
- **STREET 1:** 3001 WEST BIG BEAVER ROAD
- **STREET 2:** SUITE 319
- **CITY:** TROY
- **STATE:** MI
- **ZIP:** 48084
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Clarkston Ventures, LLC
- **CENTRAL INDEX KEY:** 0001718951

**ORGANIZATION NAME:**
- **EIN:** 812771623
- **STATE OF INCORPORATION:** MI
- **FISCAL YEAR END:** 1231

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

**BUSINESS ADDRESS:**
- **STREET 1:** 81 WEST LONG LAKE ROAD
- **CITY:** BLOOMFIELD HILLS
- **STATE:** MI
- **ZIP:** 48304
- **BUSINESS PHONE:** (248) 723-8000

**MAIL ADDRESS:**
- **STREET 1:** 91 WEST LONG LAKE ROAD
- **CITY:** BLOOMFIELD HILLS
- **STATE:** MI
- **ZIP:** 48304

## Exhibit 99.1

**EXHIBIT 99.1**

**JOINT FILING AGREEMENT**

The undersigned hereby agree that Amendment No. 5 to the statement on Schedule 13D with respect to the Common Stock of Conifer Holdings, Inc. dated August 8, 2025, and any amendments thereto signed by each of the undersigned, shall be filed on behalf of each of the undersigned pursuant to and in accordance with the provisions of Rule 13d-1(k) under the Securities Exchange Act of 1934, as amended.

Dated: August 22, 2025

---

| |
|:---|
| **Clarkston Ventures, LLC** |
| /s/ Jeffrey A. Hakala |
| Jeffrey A. Hakala, Member |

---

---

| |
|:---|
| **Jeffrey A. Hakala, Individually** |
| /s/ Jeffrey A. Hakala |

---

---

| |
|:---|
| **Gerald W. Hakala, Individually** |
| /s/ Gerald W. Hakala |

---

---

| |
|:---|
| **Clarkston 91 West, LLC** |
| /s/ Salvatore F. Gianino |
| Salvatore F. Gianino, Chief Financial Officer |

---

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

## SCHEDULE 13D

### Under the Securities Exchange Act of 1934

**(Amendment No. 5)**

**Conifer Holdings, Inc.**

*(Name of Issuer)*

**Common Stock, no par value**

*(Title of Class of Securities)*

**20731J102**

*(CUSIP Number)*

**Clarkston Ventures, LLC**<br>91 West Long Lake Road<br>Bloomfield Hills MI 48304<br>248-205-2254

*(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)*

**12/12/2024**

*(Date of Event Which Requires Filing of this Statement)*

| **CUSIP No.** | **20731J102** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Clarkston Ventures, LLC** | Name of reporting person<br>**Clarkston Ventures, LLC** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**WC** | Source of funds (See Instructions)<br>**WC** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**MICHIGAN** | Citizenship or place of organization<br>**MICHIGAN** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**3735769.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**3735769.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**3735769.00** | Aggregate amount beneficially owned by each reporting person<br>**3735769.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**30.6%** | Percent of class represented by amount in Row (11)<br>**30.6%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**PN** | Type of Reporting Person (See Instructions)<br>**PN** | |

---

| **CUSIP No.** | **20731J102** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Jeffrey A. Hakala** | Name of reporting person<br>**Jeffrey A. Hakala** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**AF** | Source of funds (See Instructions)<br>**AF** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**X1** | Citizenship or place of organization<br>**X1** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**7735769.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**7735769.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**7735769.00** | Aggregate amount beneficially owned by each reporting person<br>**7735769.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**47.7%** | Percent of class represented by amount in Row (11)<br>**47.7%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**IN** | Type of Reporting Person (See Instructions)<br>**IN** | |

---

**Comment for Reporting Person:** Note to row 8, 10 and 11: Includes 4,000,000 shares of common stock issuable upon exercise of warrants held by Clarkston 91 West LLC.

| **CUSIP No.** | **20731J102** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Gerald W. Hakala** | Name of reporting person<br>**Gerald W. Hakala** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**AF** | Source of funds (See Instructions)<br>**AF** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**X1** | Citizenship or place of organization<br>**X1** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**7735769.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**7735769.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**7735769.00** | Aggregate amount beneficially owned by each reporting person<br>**7735769.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**47.7%** | Percent of class represented by amount in Row (11)<br>**47.7%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**IN** | Type of Reporting Person (See Instructions)<br>**IN** | |

---

**Comment for Reporting Person:** Note to row 8, 10 and 11: Includes 4,000,000 shares of common stock issuable upon exercise of warrants held by Clarkston 91 West LLC.

| **CUSIP No.** | **20731J102** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Clarkston 91 West, LLC** | Name of reporting person<br>**Clarkston 91 West, LLC** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**WC** | Source of funds (See Instructions)<br>**WC** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**MICHIGAN** | Citizenship or place of organization<br>**MICHIGAN** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**4000000.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**4000000.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**4000000.00** | Aggregate amount beneficially owned by each reporting person<br>**4000000.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**24.7%** | Percent of class represented by amount in Row (11)<br>**24.7%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**PN** | Type of Reporting Person (See Instructions)<br>**PN** | |

---

**Comment for Reporting Person:** Note to row 8, 10 and 11: Includes 4,000,000 shares of common stock issuable upon exercise of warrants.

**Item 1. Security and Issuer**

**(a) Title of Class of Securities:**
Common Stock, no par value

**(b) Name of Issuer:**
Conifer Holdings, Inc.

**(c) Address of Issuer's Principal Executive Offices:**
3001 West Big Beaver Road, Suite 319, Troy, MI, 48084

**Item 4. Purpose of Transaction**

Clarkston Ventures, LLC purchased its 3,735,769 shares of Common Stock of the Issuer for investment purposes. Clarkston Ventures, LLC is a private special purpose vehicle and is not an operating company or public company.

Clarkston 91 West LLC purchased 1,500 shares of Series B Preferred Stock of the Issuer and warrants to purchase 4,000,000 shares of common stock of the Issuer for investment purposes.  See item 6 below for additional information regarding the purchases of these securities and their terms and, in particular, voting rights included therein. Clarkston 91 West LLC is a private special purpose vehicle and is not an operating company or public company.

**Item 5. Interest in Securities of the Issuer**

**(a)**
As of the time of this filing, Clarkston Ventures, LLC owns 3,735,769 shares of the Issuer's Common Stock, or 30.6%, and Clarkston 91 West, LLC owns a warrant that entitles them to purchase 4,000,000 shares of the Issuer's Common Stock, or 24.7%. For the Individual Members, who together with Clarkston Ventures, LLC and Clarkston 91 West, LLC comprise a group within the meaning of Section 13(d)(3) of the Act, see Items 7-13 of the individual cover pages above.

**(b)**
See Items 7-13 of the individual cover pages above.

**(c)**
Clarkston Ventures LLC acquired 100,000 shares of the Issuer's Common stock in a private purchase on December 12, 2024 using working capital.  Clarkston 91 West, LLC purchased a warrant entitling it to purchase up to 4,000,000 shares of Common Stock on February 27, 2025 in a private purchase pursuant to a Securities Purchase Agreement using working capital of Clarkston 91 West, LLC. The warrants became exercisable upon receipt of stockholder approval on June 3, 2025.

**Item 6. Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer.**

On February 27, 2025, the Issuer sold 1,000 shares of its newly designated Series B Preferred Stock, no par value (the "Series B Preferred Stock") and common stock purchase warrants (the "Warrants") exercisable for 4,000,000 shares of Common Stock (together with the Warrants and Series B Preferred Stock, the "Securities"), to Clarkston 91 West LLC ("Clarkston 91 West"), an entity affiliated with each of the Individual Members, for an aggregate purchase price of $5,000,000 pursuant to a Securities Purchase Agreement (the "Purchase Agreement").  The Warrants, which entitle Clarkston 91 West to purchase up to 4,000,000 shares of Common Stock at an exercise price of $1.50 per share, were subject to approval by the Issuer's stockholders, which was received on June 3, 2025. The Warrants will expire on January 31, 2027. On March 3, 2025, the Issuer sold an additional 500 shares of Series B Preferred Stock to Clarkston 91 West, for an aggregate purchase price of $2,500,000. The sale of these Securities was consummated pursuant to a Securities Purchase Agreement (the "Additional Purchase Agreement").  The Series B Preferred Stock were issued pursuant to a Certificate of Designation of Series B Preferred Stock to the Issuer's Second Amended and Restated Certificate of Incorporation with the Secretary of State of the State of Michigan on February 27, 2025 (the "Certificate of Designation").

The Series B Preferred Stock will rank senior to all of the common stock of the Issuer.  In the event of any Liquidation Event (as defined in the Certificate of Designation), after the satisfaction in full of the debts of the Issuer and the payment of any liquidation preference owed to the holders of shares of capital stock of the Issuer ranking senior to the Series B Preferred Stock, pari passu with the holders of any Parity Securities (as defined in the Certificate of Designation) by reason of their ownership thereof, but before any distribution or payment out of the assets of the Issuer shall be made to the holders of Junior Securities (as defined in the Certificate of Designation)  by reason of their ownership thereof, an amount in cash per share equal to the Series B Redemption Price (as defined below).

The Series B Preferred Stock shall be entitled to a dividend at a rate equal to the prime rate of Waterford Bank, N.A. ("Waterford Bank") on the date that is 30 days prior to the applicable Dividend Payment Date (as defined in the Certificate of Designation) plus 600 basis points, provided, however, that if the prime rate determined by Waterford Bank shall ever be less than 12.0% per annum, (the "Floor" as defined in the Certificate of Designation), then the prime rate shall be deemed to be the Floor.

Each share of the Series B Preferred Stock entitles the Holder to 3,000 votes on each matter properly submitted to the Issuer's shareholders for their vote, however the aggregate voting power of all outstanding shares of the Series B Preferred Stock shall not exceed 19.99% of the aggregate voting power of all voting securities.

The Purchase Agreement and Additional Purchase Agreement are attached hereto as Exhibits 99.2 and 99.3, respectively. The Certificate of Designation is attached hereto as Exhibit 99.4. The form of Warrant is attached hereto as Exhibit 99.5.

Except as set forth in this Schedule 13D, there are no contracts, arrangements, understandings or relationships among the Reporting Persons, or between the Reporting Persons and any other person, with respect to the securities of the Issuer.

### 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.

**Reporting Person:** Clarkston Ventures, LLC

**Signature:** /s/ Jeffrey A. Hakala

**Name/Title:** Jeffrey A. Hakala/Member

**Date:** 08/22/2025

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.

**Reporting Person:** Jeffrey A. Hakala

**Signature:** /s/ Jeffrey A. Hakala

**Name/Title:** Jeffrey A. Hakala

**Date:** 08/22/2025

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.

**Reporting Person:** Gerald W. Hakala

**Signature:** /s/ Gerald W. Hakala

**Name/Title:** Gerald W. Hakala

**Date:** 08/22/2025

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.

**Reporting Person:** Clarkston 91 West, LLC

**Signature:** /s/ Salvatore F. Gianino

**Name/Title:** Salvatore F. Gianino, Chief Financial Officer

**Date:** 08/22/2025