# EDGAR Filing Document

**Accession Number:** 0002014854
**File Stem:** 0000921895-25-002078
**Filing Date:** 2025-8
**Character Count:** 25144
**Document Hash:** 1dca04a7a49557a9135b3c6b0c4b4e81
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000921895-25-002078.hdr.sgml**: 20250804

**ACCESSION NUMBER**: 0000921895-25-002078

**CONFORMED SUBMISSION TYPE**: SCHEDULE 13D

**PUBLIC DOCUMENT COUNT**: 4

**FILED AS OF DATE**: 20250804

**DATE AS OF CHANGE**: 20250804

**SUBJECT COMPANY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Inspirato Inc
- **CENTRAL INDEX KEY:** 0001820566
- **STANDARD INDUSTRIAL CLASSIFICATION:** BLANK CHECKS [6770]
- **ORGANIZATION NAME:** 05 Real Estate & Construction
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13D
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 005-91916
- **FILM NUMBER:** 251181168

**BUSINESS ADDRESS:**
- **STREET 1:** 1544 WAZEE STREET
- **CITY:** DENVER
- **STATE:** CO
- **ZIP:** 80202
- **BUSINESS PHONE:** 303-586-7771

**MAIL ADDRESS:**
- **STREET 1:** 1544 WAZEE STREET
- **CITY:** DENVER
- **STATE:** CO
- **ZIP:** 80202

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Thayer Ventures Acquisition Corp
- **DATE OF NAME CHANGE:** 20200806
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Stoney Lonesome HF LP
- **CENTRAL INDEX KEY:** 0002014854

**ORGANIZATION NAME:**
- **EIN:** 874179655
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

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

**BUSINESS ADDRESS:**
- **STREET 1:** 8 THE GREEN
- **STREET 2:** SUITE 4652
- **CITY:** DOVER
- **STATE:** DE
- **ZIP:** 19901
- **BUSINESS PHONE:** 630-917-2057

**MAIL ADDRESS:**
- **STREET 1:** 8 THE GREEN
- **STREET 2:** SUITE 4652
- **CITY:** DOVER
- **STATE:** DE
- **ZIP:** 19901

## Ex-1

Exhibit 1

**<u>Directors and Officers of CDC Financial, Inc.</u>**

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;<u>Name and Position</u> | &nbsp;&nbsp;<u>Principal Occupation</u> | &nbsp;&nbsp;<u>Principal Business Address</u> | &nbsp;&nbsp;<u>Citizenship</u> |
| &nbsp;&nbsp;Clint D. Coghill,<br> President, Secretary, Director and sole shareholder<sup>1</sup> |  |  |  |
| &nbsp;&nbsp;Margaret A. Coghill<br> Director and Treasurer | &nbsp;&nbsp;Director and Treasurer | &nbsp;&nbsp;222 S Riverside Plaza, 15th Floor<br> Chicago, IL 60606 | &nbsp;&nbsp;United States |

---

------

<sup>1</sup> Mr. Coghill is a Reporting Person and, as such, the information with respect to Mr. Coghill called for by the Schedule 13D is set forth therein.

## Ex-2

Exhibit 2

**<u>Transactions in the Securities of the Issuer During the Past 60 Days</u>**

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;Nature of the<br> <u>Transaction</u> | &nbsp;&nbsp; Securities<br> <u>Purchased/(Sold)</u> | &nbsp;&nbsp; Price Per<br> <u>Security($)<sup>\*</sup></u> | &nbsp;&nbsp;<u>Price Range ($)</u> | &nbsp;&nbsp; Date of<br> <u>Purchase/Sale</u> |

---

**<u>STONEY LONESOME HF LP</u>**

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;Sale of Common Stock | &nbsp;&nbsp;(3245) | &nbsp;&nbsp;3.6801 | &nbsp;&nbsp;3.6500 - 3.6900 | &nbsp;&nbsp;7/10/2025 |
| &nbsp;&nbsp;Sale of Common Stock | &nbsp;&nbsp;(1700) | &nbsp;&nbsp;3.5659 | &nbsp;&nbsp;3.5200 - 3.6150 | &nbsp;&nbsp;7/11/2025 |
| &nbsp;&nbsp;Sale of Common Stock | &nbsp;&nbsp;(77689) | &nbsp;&nbsp;3.3551 | &nbsp;&nbsp;3.2500 - 3.5450 | &nbsp;&nbsp;7/14/2025 |
| &nbsp;&nbsp;Sale of Common Stock | &nbsp;&nbsp;(200) | &nbsp;&nbsp;3.3525 | &nbsp;&nbsp;3.3500 - 3.3550 | &nbsp;&nbsp;7/15/2025 |
| &nbsp;&nbsp;Sale of Common Stock | &nbsp;&nbsp;(14178) | &nbsp;&nbsp;3.2559 | &nbsp;&nbsp;3.2300 - 3.3500 | &nbsp;&nbsp;7/16/2025 |
| &nbsp;&nbsp;Sale of Common Stock | &nbsp;&nbsp;(6475) | &nbsp;&nbsp;3.3005 | &nbsp;&nbsp;3.2500 - 3.3200 | &nbsp;&nbsp;7/17/2025 |
| &nbsp;&nbsp;Sale of Common Stock | &nbsp;&nbsp;(13398) | &nbsp;&nbsp;3.0670 | &nbsp;&nbsp;3.0000 - 3.2000 | &nbsp;&nbsp;7/18/2025 |
| &nbsp;&nbsp;Sale of Common Stock | &nbsp;&nbsp;(1896) | &nbsp;&nbsp;3.1121 | &nbsp;&nbsp;3.1000 - 3.1300 | &nbsp;&nbsp;7/21/2025 |
| &nbsp;&nbsp;Sale of Common Stock | &nbsp;&nbsp;(4500) | &nbsp;&nbsp;3.1137 | &nbsp;&nbsp;3.1000 - 3.1550 | &nbsp;&nbsp;7/22/2025 |
| &nbsp;&nbsp;Sale of Common Stock | &nbsp;&nbsp;(6261) | &nbsp;&nbsp;3.1515 | &nbsp;&nbsp;3.1300 - 3.2200 | &nbsp;&nbsp;7/23/2025 |
| &nbsp;&nbsp;Sale of Common Stock | &nbsp;&nbsp;(17022) | &nbsp;&nbsp;2.9670 | &nbsp;&nbsp;2.8500 - 3.1050 | &nbsp;&nbsp;7/24/2025 |
| &nbsp;&nbsp;Sale of Common Stock | &nbsp;&nbsp;(41409) | &nbsp;&nbsp;2.7571 | &nbsp;&nbsp;2.7000 - 2.9000 | &nbsp;&nbsp;7/25/2025 |
| &nbsp;&nbsp;Sale of Common Stock | &nbsp;&nbsp;(28014) | &nbsp;&nbsp;2.7628 | &nbsp;&nbsp;2.7000 - 2.9000 | &nbsp;&nbsp;7/28/2025 |

---

------

<sup>\*</sup> The price reported in column <u>Price Per Security ($)</u> is a weighted average price if a price range is indicated in column <u>Price Range ($)</u>. These securities were sold in multiple transactions at prices between the corresponding price ranges in the applicable row. The Reporting Persons undertake to provide the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of securities sold at each separate price.

## Exhibit 99.1

Exhibit 99.1

**<u>JOINT FILING AGREEMENT</u>**

In accordance with Rule 13d-1(k)(1)(iii) under the Securities Exchange Act of 1934, as amended, the persons named below agree to the joint filing on behalf of each of them of a Statement on Schedule 13D (including additional amendments thereto) with respect to the shares of Class A Common Stock, $0.0001 par value per share, of Inspirato Incorporated, a Delaware corporation. This Joint Filing Agreement shall be filed as an Exhibit to such Statement.

---

| | |
|:---|:---|
| Stoney Lonesome HF LP | Stoney Lonesome HF LP |
| By: | /s/ Clint D. Coghill |
|  | Clint D. Coghill, President and sole shareholder of the managing member of its general partner |
| Date: | 08/04/2025 |

---

---

| | |
|:---|:---|
| COGHILL CAPITAL MANAGEMENT LLC | COGHILL CAPITAL MANAGEMENT LLC |
| By: | /s/ Clint D. Coghill |
|  | Clint D. Coghill, President and sole shareholder of its managing member |
| Date: | 08/04/2025 |

---

---

| | |
|:---|:---|
| Drake Helix Holdings, LLC | Drake Helix Holdings, LLC |
| By: | /s/ Clint D. Coghill |
|  | Clint D. Coghill, President and sole shareholder of its managing member |
| Date: | 08/04/2025 |

---

---

| | |
|:---|:---|
| CDC Financial, Inc. | CDC Financial, Inc. |
| By: | /s/ Clint D. Coghill |
|  | Clint D. Coghill, President and sole shareholder |
| Date: | 08/04/2025 |

---

---

| | |
|:---|:---|
| COGHILL CLINT D | COGHILL CLINT D |
| By: | /s/ Clint D. Coghill |
|  | Clint D. Coghill |
| Date: | 08/04/2025 |

---

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

## SCHEDULE 13D

### Under the Securities Exchange Act of 1934

**Inspirato Inc**

*(Name of Issuer)*

**Class A Common Stock, $0.0001 par value per share**

*(Title of Class of Securities)*

**45791E206**

*(CUSIP Number)*

**RYAN NEBEL**<br>OLSHAN FROME WOLOSKY LLP<br>1325 Avenue of the Americas<br>New York NY 10019<br>212-451-2300

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

**07/29/2025**

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

| **CUSIP No.** | **45791E206** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Stoney Lonesome HF LP** | Name of reporting person<br>**Stoney Lonesome HF LP** | |
| 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>**DELAWARE** | Citizenship or place of organization<br>**DELAWARE** | |
| 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>**728122.00** |
| 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>**728122.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**728122.00** | Aggregate amount beneficially owned by each reporting person<br>**728122.00** | |
| 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>**5.8%** | Percent of class represented by amount in Row (11)<br>**5.8%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**PN** | Type of Reporting Person (See Instructions)<br>**PN** | |

---

| **CUSIP No.** | **45791E206** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**COGHILL CAPITAL MANAGEMENT LLC** | Name of reporting person<br>**COGHILL CAPITAL MANAGEMENT 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>**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>**DELAWARE** | Citizenship or place of organization<br>**DELAWARE** | |
| 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>**728122.00** |
| 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>**728122.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**728122.00** | Aggregate amount beneficially owned by each reporting person<br>**728122.00** | |
| 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>**5.8%** | Percent of class represented by amount in Row (11)<br>**5.8%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**OO** | Type of Reporting Person (See Instructions)<br>**OO** | |

---

| **CUSIP No.** | **45791E206** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Drake Helix Holdings, LLC** | Name of reporting person<br>**Drake Helix Holdings, 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>**WYOMING** | Citizenship or place of organization<br>**WYOMING** | |
| 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>**36000.00** |
| 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>**36000.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**36000.00** | Aggregate amount beneficially owned by each reporting person<br>**36000.00** | |
| 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>**0.3%** | Percent of class represented by amount in Row (11)<br>**0.3%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**OO** | Type of Reporting Person (See Instructions)<br>**OO** | |

---

| **CUSIP No.** | **45791E206** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**CDC Financial, Inc.** | Name of reporting person<br>**CDC Financial, Inc.** | |
| 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>**ILLINOIS** | Citizenship or place of organization<br>**ILLINOIS** | |
| 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>**764122.00** |
| 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>**764122.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**764122.00** | Aggregate amount beneficially owned by each reporting person<br>**764122.00** | |
| 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>**6.1%** | Percent of class represented by amount in Row (11)<br>**6.1%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**CO** | Type of Reporting Person (See Instructions)<br>**CO** | |

---

| **CUSIP No.** | **45791E206** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**COGHILL CLINT D** | Name of reporting person<br>**COGHILL CLINT D** | |
| 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>**764122.00** |
| 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>**764122.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**764122.00** | Aggregate amount beneficially owned by each reporting person<br>**764122.00** | |
| 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>**6.1%** | Percent of class represented by amount in Row (11)<br>**6.1%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**IN** | Type of Reporting Person (See Instructions)<br>**IN** | |

---

**Item 1. Security and Issuer**

**(a) Title of Class of Securities:**
Class A Common Stock, $0.0001 par value per share

**(b) Name of Issuer:**
Inspirato Inc

**(c) Address of Issuer's Principal Executive Offices:**
1544 WAZEE STREET, DENVER, CO, 80202

**Item 4. Purpose of Transaction**

The Reporting Persons purchased the Shares based on the Reporting Persons' belief that the Shares, when purchased, were undervalued and represented an attractive investment opportunity. Depending upon overall market conditions, other investment opportunities available to the Reporting Persons and the availability of Shares at prices that would make the purchase or sale of Shares desirable, the Reporting Persons may endeavor to increase or decrease their position in the Issuer through, among other things, the purchase or sale of Shares on the open market or in private transactions or otherwise, on such terms and at such times as the Reporting Persons may deem advisable.

The Reporting Persons believe that the Issuer's proposed reverse merger (the "Proposed Merger") with Buyerlink Inc. ("Buyerlink") is not in the best interests of the Issuer's stockholders other than the Issuer's Chairman and CEO Payam Zamani, who also happens to be the Founder and CEO of Buyerlink and stands to receive a substantial payout in connection with and following the Proposed Merger at the expense of the Issuer's minority stockholders. Accordingly, the Reporting Persons currently intend to vote against the approval of the Proposed Merger. The Reporting Persons have engaged, and intend to continue to engage, in discussions with management and the Board of Directors (the "Board") of the Issuer (including the Special Committee thereof), stockholders and other third parties regarding the Proposed Merger and the Reporting Persons' opposition thereto.

No Reporting Person has any present plan or proposal which would relate to or result in any of the matters set forth in subparagraphs (a) - (j) of Item 4 of Schedule 13D except as set forth herein or such as would occur upon or in connection with completion of, or following, any of the actions discussed herein. The Reporting Persons intend to review their investment in the Issuer on a continuing basis. Depending on various factors including, without limitation, the Issuer's financial position and investment strategy, the price levels of the securities of the Issuer, conditions in the securities markets and general economic and industry conditions, the Reporting Persons may in the future engage in additional communications with management, the Board and their advisors, engage in additional discussions with stockholders of the Issuer and others about the Issuer and the Reporting Persons' investment, make proposals to the Issuer concerning changes to the capitalization or operations of the Issuer, purchase additional securities of the Issuer, sell some or all of such securities, enter into financial instruments or other agreements that increase or decrease the Reporting Persons' economic or beneficial exposure with respect to their investment in the Issuer, or engage in short selling of or any hedging or similar transaction with respect to the securities of the Issuer.

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

**(a)**
The aggregate percentage of Shares reported owned by each person named herein is based on 12,453,572 Shares outstanding as of June 25, 2025, which is the total number of Shares outstanding as disclosed in Exhibit 2.1 to the Issuer's Current Report on Form 8-K filed with the Securities and Exchange Commission on June 26, 2025.

As of the date hereof, Stoney Lonesome directly beneficially owned 728,122 Shares, constituting approximately 5.8% of the Shares outstanding. CCM, as the general partner of Stoney Lonesome, may be deemed the beneficial owner of the 728,122 Shares directly owned by Stoney Lonesome, constituting approximately 5.8% of the Shares outstanding.

As of the date hereof, Drake Helix directly beneficially owned 36,000 Shares, constituting approximately 0.3% of the Shares outstanding.

CDC Financial, as the managing member of each of CCM and Drake Helix, may be deemed the beneficial owner of the (i) 728,122 Shares directly owned by Stoney Lonesome and (ii) 36,000 Shares directly owned by Drake Helix, constituting approximately 6.1% of the Shares outstanding. Mr. Coghill, as the President and sole shareholder of CDC Financial, may be deemed the beneficial owner of the (i) 728,122 Shares directly owned by Stoney Lonesome and (ii) 36,000 Shares directly owned by Drake Helix, constituting approximately 6.1% of the Shares outstanding.

The filing of this Schedule 13D shall not be deemed an admission that the Reporting Persons are, for purposes of Section 13(d) of the Securities Exchange Act of 1934, as amended, the beneficial owners of any securities of the Issuer that he or it does not directly own. Each Reporting Person disclaims beneficial ownership of the Shares that he or it does not directly own.

**(b)**
Each of Stoney Lonesome, CCM, CDC Financial and Mr. Coghill may be deemed to share the power to vote and dispose of the Shares directly owned by Stoney Lonesome. Each of Drake Helix, CDC Financial and Mr. Coghill may be deemed to share the power to vote and dispose of the Shares directly owned by Drake Helix.

**(c)**
The transactions in securities of the Issuer by the Reporting Persons during the past 60 days are set forth in Exhibit 2 and are incorporated herein by reference. All of such transactions were effected in the open market unless otherwise noted therein.

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

On August 4, 2025, the Reporting Persons entered into a Joint Filing Agreement in which the Reporting Persons agreed to the joint filing on behalf of each of them of statements on Schedule 13D with respect to the securities of the Issuer to the extent required by applicable law. The Joint Filing Agreement is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

Other than as described herein, 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:** Stoney Lonesome HF LP

**Signature:** /s/ Clint D. Coghill

**Name/Title:** Clint D. Coghill, President and sole shareholder of the managing member of its general partner

**Date:** 08/04/2025

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:** COGHILL CAPITAL MANAGEMENT LLC

**Signature:** /s/ Clint D. Coghill

**Name/Title:** Clint D. Coghill, President and sole shareholder of its managing member

**Date:** 08/04/2025

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:** Drake Helix Holdings, LLC

**Signature:** /s/ Clint D. Coghill

**Name/Title:** Clint D. Coghill, President and sole shareholder of its managing member

**Date:** 08/04/2025

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:** CDC Financial, Inc.

**Signature:** /s/ Clint D. Coghill

**Name/Title:** Clint D. Coghill, President and sole shareholder

**Date:** 08/04/2025

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:** COGHILL CLINT D

**Signature:** /s/ Clint D. Coghill

**Name/Title:** Clint D. Coghill

**Date:** 08/04/2025