UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

 

SCHEDULE 13D

THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 3)*

 

 

Lowell Farms Inc.
(Name of Issuer)

 

 

Subordinate Voting Shares
(Title of Class of Securities)

 

 

547572107
(CUSIP Number)

 

 

Gregory Heyman

Beehouse, LLC

660 Madison Avenue, 14th Floor

New York, New York 10065

Telephone Number (929) 367-5390

(Name, Address and Telephone Number of Person Authorized to Receive

Notices and Communications)

 

 

July 25, 2024
(Date of Event Which Requires Filing of this Statement)

 

 

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of ss.240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box [  ].
   
* 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 disclosures provided in a prior cover page.

 

 
 

 


CUSIP No.
547572107    

 

1. NAME OF REPORTING PERSONS  
  I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)  
     
  Beehouse, LLC  

 

2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [_]
    (b) [_]

  

3. SEC USE ONLY  
     
     

 

4. SOURCE OF FUNDS  
     
  AF  

 

5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)
[_]

 

6. CITIZENSHIP OR PLACE OF ORGANIZATION  
     
  Delaware  

 

NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

7. SOLE VOTING POWER  
     
  0  

 

8. SHARED VOTING POWER  
     
  0  

 

9. SOLE DISPOSITIVE POWER
     
  0  

 

10. SHARED DISPOSITIVE POWER  
     
  0  

 

11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON  
     
  0  

 

12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES  
[_]

 

13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)  
     
  0%  

 

14. TYPE OF REPORTING PERSON  
     
  IA  
     

 

 
 

 


CUSIP No.
547572107    

 

1. NAME OF REPORTING PERSONS  
  I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)  
     
  Beehouse Manager, LLC  

 

2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [_]
    (b) [_]

  

3. SEC USE ONLY  
     
     

 

4. SOURCE OF FUNDS  
     
  WC  

 

5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)
[_]

 

6. CITIZENSHIP OR PLACE OF ORGANIZATION  
     
  Delaware  

 

NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

7. SOLE VOTING POWER  
     
  0  

 

8. SHARED VOTING POWER  
     
  0  

 

9. SOLE DISPOSITIVE POWER
     
  0  

 

10. SHARED DISPOSITIVE POWER  
     
  0  

 

11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON  
     
  0  

 

12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES  
[_]

 

13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)  
     
  0%  

 

14. TYPE OF REPORTING PERSON  
     
  OO  
     

 

 
 

 


CUSIP No.
547572107    

 

1. NAME OF REPORTING PERSONS  
  I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)  
     
  Beehouse Partners, LP  

 

2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [_]
    (b) [_]

  

3. SEC USE ONLY  
     
     

 

4. SOURCE OF FUNDS  
     
  WC  

 

5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)
[_]

 

6. CITIZENSHIP OR PLACE OF ORGANIZATION  
     
  Delaware  

 

NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

7. SOLE VOTING POWER  
     
  0  

 

8. SHARED VOTING POWER  
     
  0  

 

9. SOLE DISPOSITIVE POWER
     
  0  

 

10. SHARED DISPOSITIVE POWER  
     
  0  

 

11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON  
     
  0  

 

12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES  
[_]

 

13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)  
     
  0%  

 

14. TYPE OF REPORTING PERSON  
     
  PN  
     
 
 

 


CUSIP No.
547572107    

 

1. NAME OF REPORTING PERSONS  
  I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)  
     
  Beehouse Partners GP, LLC  

 

2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [_]
    (b) [_]

  

3. SEC USE ONLY  
     
     

 

4. SOURCE OF FUNDS  
     
  AF  

 

5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)
[_]

 

6. CITIZENSHIP OR PLACE OF ORGANIZATION  
     
  Delaware  

 

NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

7. SOLE VOTING POWER  
     
  0  

 

8. SHARED VOTING POWER  
     
  0  

 

9. SOLE DISPOSITIVE POWER
     
  0  

 

10. SHARED DISPOSITIVE POWER  
     
  0  

 

11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON  
     
  0  

 

12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES  
[_]

 

13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)  
     
  0%  

 

14. TYPE OF REPORTING PERSON  
     
  OO  
     

 

 
 

 


CUSIP No.
547572107    

 

1. NAME OF REPORTING PERSONS  
  I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)  
     
  Hacienda Company, LLC  

 

2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [_]
    (b) [_]

  

3. SEC USE ONLY  
     
     

 

4. SOURCE OF FUNDS  
     
  AF  

 

5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)
[_]

 

6. CITIZENSHIP OR PLACE OF ORGANIZATION  
     
  California  

 

NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

7. SOLE VOTING POWER  
     
  0  

 

8. SHARED VOTING POWER  
     
  0  

 

9. SOLE DISPOSITIVE POWER
     
  0  

 

10. SHARED DISPOSITIVE POWER  
     
  0  

 

11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON  
     
  0  

 

12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES  
[_]

 

13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)  
     
  0%  

 

14. TYPE OF REPORTING PERSON  
     
  OO  
     

 

 
 

 


CUSIP No.
547572107    

 

1. NAME OF REPORTING PERSONS  
  I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)  
     
  Hannah Ross  

 

2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [_]
    (b) [_]

  

3. SEC USE ONLY  
     
     

 

4. SOURCE OF FUNDS  
     
  AF  

 

5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)
[_]

 

6. CITIZENSHIP OR PLACE OF ORGANIZATION  
     
  United States of America  

 

NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

7. SOLE VOTING POWER  
     
  0  

 

8. SHARED VOTING POWER  
     
  0  

 

9. SOLE DISPOSITIVE POWER
     
  0  

 

10. SHARED DISPOSITIVE POWER  
     
  0  

 

11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON  
     
  0  

 

12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES  
[_]

 

13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)  
     
  0%  

 

14. TYPE OF REPORTING PERSON  
     
  IN  
     

 

 

 
 

 


CUSIP No.
547572107    

 

1. NAME OF REPORTING PERSONS  
  I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)  
     
  Gregory Heyman  

 

2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [_]
    (b) [_]

  

3. SEC USE ONLY  
     
     

 

4. SOURCE OF FUNDS  
     
  AF  

 

5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)
[_]

 

6. CITIZENSHIP OR PLACE OF ORGANIZATION  
     
  United States of America  

 

NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

7. SOLE VOTING POWER  
     
  5,000  

 

8. SHARED VOTING POWER  
     
  0  

 

9. SOLE DISPOSITIVE POWER
     
  5,000  

 

10. SHARED DISPOSITIVE POWER  
     
  0  

 

11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON  
     
  5,000  

 

12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES  
[_]

 

13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)  
     
  0.03%  

 

14. TYPE OF REPORTING PERSON  
     
  IN  
     

 

 

 

 
 

 

 

CUSIP No. 87990A106    
     

 

Item 1. Security and Issuer.  

 

  The name of the issuer is Lowell Farms Inc., a Delaware corporation (the "Issuer").  The address of the Issuer's principal executive offices is 19 Quail Run Circle, Suite B, Salinas, CA 93907.  This Schedule 13D amendment relates to the Issuer's Subordinate Voting Shares (the "Shares").  
     
     
Item 2. Identity and Background.  

 

  (a), (f) This Schedule 13D amendment is being filed jointly by Beehouse, LLC, a Delaware limited liability company (“Beehouse”), Beehouse Manager, LLC, a Delaware limited liability company (“Beehouse Manager”), Beehouse Partners, LP a Delaware limited partnership (the “Partnership”), Beehouse Partners GP, LLC, a Delaware limited liability company (the “GP”), Hacienda Company, LLC, a California limited liability company (“Hacienda”), Hannah Ross, a United States citizen and Gregory Heyman, a United States citizen (collectively, the "Reporting Persons").    
       
  (b) The principal business address for each of the Reporting Persons is 660 Madison Avenue, 14th Floor, New York, New York 10065.  
       
  (c) Gregory Heyman is the managing member of Beehouse and the GP.  Hannah Ross is the manager of Hacienda.  Beehouse is the investment manager of two funds that collectively own a majority interest in Hacienda.  The principal business of Beehouse is serving as an investment adviser to its clients.  The principal business of the GP is serving as the general partner to certain private funds.  Beehouse is the investment manager to the Partnership and the GP is the general partner of the Partnership.  The principal business of the Partnership is purchasing, holding and selling securities for investment purposes.  The principal business of Hacienda is purchasing, holding and selling securities for investment purposes.  
       
  (d), (e) During the last five years, none of the Reporting Persons has been (a) convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors) or (b) a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws.  The Reporting Persons disclaim membership in a group.    
       
     

 

 
 

 

Item 3. Source and Amount of Funds or Other Consideration.  
     
  The funds for the purchase of the Shares came from the working capital of private investment funds managed by Beehouse, including the Partnership and Hacienda, over which the Reporting Persons, through their roles described above in Item 2(c), exercise investment discretion.  No borrowed funds were used to purchase the Shares, other than borrowed funds used for working capital purposes in the ordinary course of business.      
     

 

Item 4. Purpose of Transaction.  
     
 

The Reporting Persons acquired their Shares of the Issuer for investment. The Reporting Persons have no plans or proposals as of the date of this filing which, other than as expressly set forth below, would relate to or would result in: (a) any extraordinary corporate transaction involving the Issuer; (b) any change in the present Board of Directors or management of the Issuer; (c) any material change in the present capitalization or dividend policy of the Issuer; (d) any material change in the operating policies or corporate structure of the Issuer; (e) any change in the Issuer's charter or by-laws; (f) the Shares of the Issuer ceasing to be listed from a national securities exchange or to ceasing to be authorized to be quoted in an inter-dealer quotation system of a registered national securities association; or (g) causing the Issuer becoming eligible for termination of registration pursuant to Section 12(g)(4) of the Securities Exchange Act of 1934.

 

In August 2023, the Issuer effected a reverse stock split consolidating all of its Shares on the basis of one post-consolidation Share for every ten pre-consolidation Shares, effective August 31, 2023.

 

The Reporting Persons, however, reserve the right, at a later date, to effect one or more of such changes and may dispose of or enter into other transactions in the shares they may be deemed to beneficially own.

 

The Reporting Persons have been and may continue to be in contact with members of the Issuer's management, the Issuer's Board of Directors, other significant shareholders and others regarding alternatives that the Issuer could employ to maximize shareholder value.

 

The Reporting Persons further reserve the right to act in concert with any other shareholders of the Issuer, or other persons, for a common purpose should it determine to do so, and/or to recommend courses of action to management and the shareholders of the Issuer.

 
     

 

 
 

 

 

Item 5. Interest in Securities of the Issuer.  

 

  (a) - (e)

As of the date hereof, Beehouse and Beehouse Manager may be deemed to be the beneficial owners of 0 Shares, constituting 0% of the Shares, based upon 18,149,653* Shares outstanding.

 

Beehouse and Beehouse Manager have the sole power to vote or direct the vote of 0 Shares; have the shared power to vote or direct the vote of 0 Shares; have the sole power to dispose or direct the disposition of 0 Shares; and have the shared power to dispose or direct the disposition of 0 Shares.

 

As of the date hereof, Gregory Heyman may be deemed to be the beneficial owner of 5,000 Shares, constituting 0.03% of the Shares, based upon 18,149,653* Shares outstanding.

 

Gregory Heyman has the sole power to vote or direct the vote of 5,000 Shares; has the shared power to vote or direct the vote of 0 Shares; has the sole power to dispose or direct the disposition of 5,000 Shares; and has the shared power to dispose or direct the disposition of 0 Shares.

 

As of the date hereof, the Partnership and the GP may be deemed to be the beneficial owners of 0 Shares, constituting 0% of the Shares, based upon 18,149,653* Shares outstanding.

 

The Partnership and the GP have the sole power to vote or direct the vote of 0 Shares; have the shared power to vote or direct the vote of 0 Shares; have the sole power to dispose or direct the disposition of 0 Shares; and have the shared power to dispose or direct the disposition of 0 Shares.

 

As of the date hereof, Hannah Ross may be deemed to be the beneficial owner of 0 Shares, constituting 0% of the Shares, based upon 18,149,653* Shares outstanding.

 

Hannah Ross has the sole power to vote or direct the vote of 0 Shares; has the shared power to vote or direct the vote of 0 Shares; has the sole power to dispose or direct the disposition of 0 Shares; and has the shared power to dispose or direct the disposition of 0 Shares.

 

As of the date hereof, Hacienda may be deemed to be the beneficial owner of 0 Shares, constituting 0% of the Shares, based upon 18,149,653* Shares outstanding.

 

Hacienda has the sole power to vote or direct the vote of 0 Shares; has the shared power to vote or direct the vote of 0 Shares; has the sole power to dispose or direct the disposition of 0 Shares; and has the shared power to dispose or direct the disposition of 0 Shares.

 

The transactions by the Reporting Persons in the Shares during the past sixty days are set forth in Exhibit B.

 

The Reporting Persons no longer own more than 5% of the total outstanding Shares. Consequently, this is the final amendment to the Schedule 13D and constitutes an “exit filing” for the Reporting Persons.

 

* This outstanding Shares figure reflects the 18,149,653 outstanding Shares as reported in the Form 10-Q filed by the Issuer on August 13, 2024.

 

 
       

 

 
 

 

 

Item 6. Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer.  
     
  The Partnership held 500,000 warrants that expired on August 30, 2024. The description of the warrants is qualified in its entirety by the terms and conditions of the warrant agreement, as agreed to between the Issuer and the Partnership, which is attached as Exhibit D hereto and incorporated herein by reference.  
     

 

Item 7. Material to be Filed as Exhibits.  

 

 

Exhibit A: Joint Filing Agreement

Exhibit B: Schedule of Transactions in Shares

Exhibit C: Warrant to Purchase Stock, as agreed to between the Issuer and the Partnership on August 30, 2021 (incorporated by reference)

     

 

 
 

 

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.

 

    November 14, 2024  
    (Date)  

 

 

Beehouse, LLC*

 

By: /s/ Gregory P. Heyman

  (Signature)
   
  Gregory P. Heyman, as Sole Member of Manager
  (Name/Title)

 

 

Beehouse Manager, LLC*

 

By: /s/ Gregory P. Heyman

  (Signature)
   
  Gregory P. Heyman, as Sole Member
  (Name/Title)

 

 

Beehouse Partners, LP*

By: Beehouse Partners GP, LLC, its general partner

 

By: /s/ Gregory P. Heyman

  (Signature)
   
  Gregory P. Heyman, Managing Member
  (Name/Title)
   
 

Beehouse Partners GP, LLC*

 

By: /s/ Gregory P. Heyman

 

(Signature)

 

Gregory P. Heyman, Managing Member

 

(Name/Title)

 

Hacienda Company, LLC*

 

By: /s/ Hannah Ross________________________

(Signature)

 

Hannah Ross, Manager

 

(Name/Title)

 

/s/ Gregory P. Heyman*

 

Gregory P/ Heyman

 

/s/ Hannah Ross*

 

Hannah Ross

 

 

 

 

* This reporting person disclaims beneficial ownership of these reported securities except to the extent of its pecuniary interest therein, and this report shall not be deemed an admission that any such person is the beneficial owner of these securities for purposes of Section 16 of the U.S. Securities Exchange Act of 1934, as amended, or for any other purpose.

 

Attention: Intentional misstatements or omissions of fact constitute Federal criminal violations (see 18 U.S.C. 10001).

 
 

 

 

Exhibit A

 

 

AGREEMENT

 

 

The undersigned agree that this Schedule 13D amendment, dated November 14, 2024, relating to the Subordinate Voting Shares, of Lowell Farms Inc. shall be filed on behalf of the undersigned.

 

    November 14, 2024  
    (Date)  

 

 

 

Beehouse, LLC

 

By: /s/ Gregory P. Heyman

  (Signature)
   
  Gregory P. Heyman, as Sole Member of Manager
  (Name/Title)

 

 

Beehouse Manager, LLC

 

By: /s/ Gregory P. Heyman

  (Signature)
   
  Gregory P. Heyman, as Sole Member
  (Name/Title)

 

 

Beehouse Partners, LP

By: Beehouse Partners GP, LLC, its general partner

 

By: /s/ Gregory P. Heyman

  (Signature)
   
  Gregory P. Heyman, Managing Member
  (Name/Title)
   
 

Beehouse Partners GP, LLC

 

By: /s/ Gregory P. Heyman

 

(Signature)

 

Gregory P. Heyman, Managing Member

 

(Name/Title)

 

 

 

 

 

Hacienda Company, LLC

 

By: /s/ Hannah Ross_____________________

(Signature)

 

Hannah Ross, Manager

 

(Name/Title)

 

/s/ Gregory P. Heyman

 

Gregory P. Heyman

 

/s/ Hannah Ross

Hannah Ross

 

 
 

 

Exhibit B

 

 

Schedule of Transactions in Shares

 

 

 

Date of Transaction

 

Title of Class

Number of Shares Acquired Number of Shares Disposed

Price Per

Share

 

         
7/12/2024 Subordinate Voting Shares   46,995 $0.0401
7/16/2024 Subordinate Voting Shares   58,555 $0.045
7/23/2024 Subordinate Voting Shares   980 $0.033
7/25/2024 Subordinate Voting Shares   289,390 $0.02
7/26/2024 Subordinate Voting Shares   50,000 $0.02
8/6/2024 Subordinate Voting Shares   27,700 $0.035
8/13/2024 Subordinate Voting Shares   5,205 $0.035
8/14/2024 Subordinate Voting Shares   117,500 $0.0212
8/19/2024 Subordinate Voting Shares   77,579 $0.02
8/20/2024 Subordinate Voting Shares   16,000 $0.0194
8/29/2024 Subordinate Voting Shares   97,000 $0.018
8/30/2024 Subordinate Voting Shares   108,688 $0.0199
9/4/2024 Subordinate Voting Shares   168,811 $0.0121
9/10/2024 Subordinate Voting Shares   180,873 $0.012
9/12/2024 Subordinate Voting Shares   200,000 $0.0127
9/16/2024 Subordinate Voting Shares   220,833 $0.0111
9/18/2024 Subordinate Voting Shares   218,999 $0.0105
9/25/2024 Subordinate Voting Shares   38,500 $0.0108
9/26/2024 Subordinate Voting Shares   26,000 $0.011
9/30/2024 Subordinate Voting Shares   18,000 $0.012
10/3/2024 Subordinate Voting Shares   1,269 $0.017
10/7/2024 Subordinate Voting Shares   170,472 $0.0101
10/10/2024 Subordinate Voting Shares   49,100 $0.0126
10/15/2024 Subordinate Voting Shares   271,619 $0.0098