Pleasant Lake Partners' Presentation on Magnachip; Discloses Del Taco Stake ~ market folly

Monday, July 13, 2015

Pleasant Lake Partners' Presentation on Magnachip; Discloses Del Taco Stake

Jonathan Lennon's hedge fund firm Pleasant Lake Partners has filed an amended 13D with the SEC regarding its stake in Magnachip (MX).  Per the filing, Pleasant Lake owns 9.95% of the company and is one of the largest shareholders.  This is an increase from the 7.7% they owned when we highlighted their original 13D filing on Magnachip.

Pleasant Lake's Presentation on Magnachip

Included in its filing is a letter to Magnachip's chairman, as well as a presentation with their thoughts on the company.

Embedded below is Pleasant Lake's slideshow presentation on Magnachip:

Discloses Del Taco (TACO) Stake

Second, Pleasant Lake Partners has filed a 13G with the SEC regarding shares of Del Taco Restaurants (TACO).  Per the filing, Pleasant Lake now owns 11.5% of the company with over 4.46 million shares.

This is a newly disclosed position as they did not report ownership at the end of Q1.  The filing was made due to activity on June 30th.

Per Google Finance, Del Taco is "a food service company. The Company operates quick service restaurant (QSR) chain under Del Taco in the United States. The Company offers Mexican- cuisine and American classics menu. Its menu includes various categories, such as tacos, burritos, Fresca bowls, American grill, quesadillas and nachos, desserts and shakes, sides and salads, combos and fiesta pack, kid's meals, drinks, breakfast, and Buck & Under. In addition, its menu includes Double Beef Classic Taco, Del Combo Burrito, Del Beef Burrito, MACHO Combo Burrito, Double Del Cheeseburger, Bacon Double Del Cheeseburger, Deluxe Chili Cheddar Fries, MACHO Nachos, Caramel Cheesecake Bites, Chocolate Chip Cookies, CrunchTada Tostada and Turkey CrunchTada Tostada, among others. The Company and its franchisees operate approximately 550 restaurants in 16 states."

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