<SEC-DOCUMENT>0001415889-24-028418.txt : 20241205
<SEC-HEADER>0001415889-24-028418.hdr.sgml : 20241205
<ACCEPTANCE-DATETIME>20241205171515
ACCESSION NUMBER:		0001415889-24-028418
CONFORMED SUBMISSION TYPE:	3
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20241125
FILED AS OF DATE:		20241205
DATE AS OF CHANGE:		20241205

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			ALTA FOX CAPITAL MANAGEMENT, LLC
		CENTRAL INDEX KEY:			0001858353
		ORGANIZATION NAME:           	
		STATE OF INCORPORATION:			TX
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		3
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-38747
		FILM NUMBER:		241529887

	BUSINESS ADDRESS:	
		STREET 1:		640 TAYLOR STREET
		STREET 2:		SUITE 2522
		CITY:			FORT WORTH
		STATE:			TX
		ZIP:			76102
		BUSINESS PHONE:		817-350-4230

	MAIL ADDRESS:	
		STREET 1:		640 TAYLOR STREET
		STREET 2:		SUITE 2522
		CITY:			FORT WORTH
		STATE:			TX
		ZIP:			76102

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Alta Fox Opportunities Fund, LP
		CENTRAL INDEX KEY:			0001734916
		ORGANIZATION NAME:           	
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		3
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-38747
		FILM NUMBER:		241529890

	BUSINESS ADDRESS:	
		STREET 1:		1751 RIVER RUN
		STREET 2:		SUITE 400
		CITY:			FORT WORTH
		STATE:			TX
		ZIP:			76107
		BUSINESS PHONE:		817-350-4230

	MAIL ADDRESS:	
		STREET 1:		1751 RIVER RUN
		STREET 2:		SUITE 400
		CITY:			FORT WORTH
		STATE:			TX
		ZIP:			76107

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Alta Fox Equity, LLC
		CENTRAL INDEX KEY:			0002046809
		ORGANIZATION NAME:           	
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		3
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-38747
		FILM NUMBER:		241529888

	BUSINESS ADDRESS:	
		STREET 1:		640 TAYLOR STREET, SUITE 2522
		CITY:			FORT WORTH
		STATE:			TX
		ZIP:			78102
		BUSINESS PHONE:		817-350-4239

	MAIL ADDRESS:	
		STREET 1:		640 TAYLOR STREET, SUITE 2522
		CITY:			FORT WORTH
		STATE:			TX
		ZIP:			78102

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Haley Patrick Connor
		CENTRAL INDEX KEY:			0001914940
		ORGANIZATION NAME:           	

	FILING VALUES:
		FORM TYPE:		3
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-38747
		FILM NUMBER:		241529886

	MAIL ADDRESS:	
		STREET 1:		640 TAYLOR STREET
		STREET 2:		SUITE 2522
		CITY:			FORT WORTH
		STATE:			TX
		ZIP:			76102

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Alta Fox GenPar, LP
		CENTRAL INDEX KEY:			0002046794
		ORGANIZATION NAME:           	
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		3
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-38747
		FILM NUMBER:		241529889

	BUSINESS ADDRESS:	
		STREET 1:		640 TAYLOR STREET, SUITE 2522
		CITY:			FORT WORTH
		STATE:			TX
		ZIP:			76102
		BUSINESS PHONE:		817-350-4239

	MAIL ADDRESS:	
		STREET 1:		640 TAYLOR STREET, SUITE 2522
		CITY:			FORT WORTH
		STATE:			TX
		ZIP:			76102

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			DAKTRONICS INC /SD/
		CENTRAL INDEX KEY:			0000915779
		STANDARD INDUSTRIAL CLASSIFICATION:	MISCELLANEOUS MANUFACTURING INDUSTRIES [3990]
		ORGANIZATION NAME:           	04 Manufacturing
		IRS NUMBER:				460306862
		STATE OF INCORPORATION:			SD
		FISCAL YEAR END:			0426

	BUSINESS ADDRESS:	
		STREET 1:		PO BOX 5128
		STREET 2:		201 DAKTRONICS DRIVE
		CITY:			BROOKINGS
		STATE:			SD
		ZIP:			57006
		BUSINESS PHONE:		6056974000

	MAIL ADDRESS:	
		STREET 1:		P O BOX 5128
		CITY:			BROOKINGS
		STATE:			SD
		ZIP:			57006
</SEC-HEADER>
<DOCUMENT>
<TYPE>3
<SEQUENCE>1
<FILENAME>form3-12052024_101210.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0206</schemaVersion>

    <documentType>3</documentType>

    <periodOfReport>2024-11-25</periodOfReport>

    <noSecuritiesOwned>0</noSecuritiesOwned>

    <issuer>
        <issuerCik>0000915779</issuerCik>
        <issuerName>DAKTRONICS INC /SD/</issuerName>
        <issuerTradingSymbol>DAKT</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001734916</rptOwnerCik>
            <rptOwnerName>Alta Fox Opportunities Fund, LP</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>640 TAYLOR STREET, SUITE 2522</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>FORT WORTH</rptOwnerCity>
            <rptOwnerState>TX</rptOwnerState>
            <rptOwnerZipCode>76102</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>false</isDirector>
            <isOfficer>false</isOfficer>
            <isTenPercentOwner>true</isTenPercentOwner>
            <isOther>false</isOther>
            <officerTitle></officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0002046794</rptOwnerCik>
            <rptOwnerName>Alta Fox GenPar, LP</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>640 TAYLOR STREET, SUITE 2522</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>FORT WORTH</rptOwnerCity>
            <rptOwnerState>TX</rptOwnerState>
            <rptOwnerZipCode>76102</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle></officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0002046809</rptOwnerCik>
            <rptOwnerName>Alta Fox Equity, LLC</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>640 TAYLOR STREET, SUITE 2522</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>FORT WORTH</rptOwnerCity>
            <rptOwnerState>TX</rptOwnerState>
            <rptOwnerZipCode>76102</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle></officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001858353</rptOwnerCik>
            <rptOwnerName>ALTA FOX CAPITAL MANAGEMENT, LLC</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>640 TAYLOR STREET, SUITE 2522</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>FORT WORTH</rptOwnerCity>
            <rptOwnerState>TX</rptOwnerState>
            <rptOwnerZipCode>76102</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle></officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001914940</rptOwnerCik>
            <rptOwnerName>Haley Patrick Connor</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>640 TAYLOR STREET, SUITE 2522</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>FORT WORTH</rptOwnerCity>
            <rptOwnerState>TX</rptOwnerState>
            <rptOwnerZipCode>76102</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle></officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>1964986</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See footnote</value>
                    <footnoteId id="F1"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
    </nonDerivativeTable>

    <derivativeTable>
        <derivativeHolding>
            <securityTitle>
                <value>Senior Secured Convertible Notes</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <footnoteId id="F2"/>
                <footnoteId id="F3"/>
                <footnoteId id="F4"/>
                <footnoteId id="F5"/>
            </conversionOrExercisePrice>
            <exerciseDate>
                <footnoteId id="F2"/>
                <footnoteId id="F3"/>
                <footnoteId id="F4"/>
                <footnoteId id="F5"/>
            </exerciseDate>
            <expirationDate>
                <footnoteId id="F2"/>
                <footnoteId id="F3"/>
                <footnoteId id="F4"/>
                <footnoteId id="F5"/>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>3968033</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See footnote</value>
                    <footnoteId id="F1"/>
                </natureOfOwnership>
            </ownershipNature>
        </derivativeHolding>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">This Form 3 is being filed by Alta Fox Opportunities Fund, LP, a Delaware limited partnership (&quot;Alta Fox Opportunities&quot;); Alta Fox GenPar, LP, a Delaware limited partnership (&quot;Alta Fox GP&quot;), the general partner of Alta Fox Opportunities; Alta Fox Equity, LLC, a Delaware limited liability company (&quot;Alta Fox LLC&quot;), the general partner of Alta Fox GP; Alta Fox Capital Management, LLC, a Texas limited liability company, the investment manager of Alta Fox Opportunities; and P. Connor Haley, the sole owner, member and manager of each of Alta Fox Capital and Alta Fox LLC (collectively, the &quot;Reporting Persons&quot;). The Reporting Persons disclaim beneficial ownership of the securities reported herein except to the extent of its pecuniary interest therein, if any.</footnote>
        <footnote id="F2">On May 11, 2023, the Issuer entered into a Securities Purchase Agreement (the &quot;Securities Purchase Agreement&quot;) with Alta Fox Opportunities under which the Issuer agreed to sell and issue to Alta Fox Opportunities its senior secured convertible notes (the &quot;Convertible Notes&quot;) in exchange for the payment by Alta Fox Opportunities to the Issuer of $25 million. On May 11, 2023 (the &quot;Issuance Date&quot;), the Issuer issued the Convertible Notes to Alta Fox Opportunities in the total original principal amount of $25 million. The Convertible Notes are convertible into the Issuer's Shares, subject to certain conditions and limitations. The Convertible Notes provide a conversion right which allows Alta Fox Opportunities, at any time after the Issuance Date, to convert all or any portion of the principal amount of the Convertible Notes, together with any accrued and unpaid interest and any other unpaid amounts, (continued at footnote (3)</footnote>
        <footnote id="F3">(continued from footnote (2) including late charges, if any (together, the &quot;Conversion Amount&quot;), into Shares at an initial conversion price of $6.31 per Share, subject to adjustment in accordance with the terms of the Convertible Notes (the &quot;Conversion Price&quot;). The Issuer also has a forced conversion right, which is exercisable on the occurrence of certain conditions set out in the Convertible Notes, pursuant to which it can cause all or any portion of the outstanding and unpaid Conversion Amount to be converted into Shares at the Conversion Price. The Issuer shall not issue any Shares pursuant to the terms of the Convertible Notes, and the holders of the Convertible Notes shall not have the right to any Shares otherwise issuable under their respective Convertible Notes to the extent that, after giving effect to such issuance, a holder together with certain &quot;Attribution Parties&quot; (as defined in the Convertible Notes), (continued at footnote (4)</footnote>
        <footnote id="F4">(continued from footnote (3) collectively would beneficially own in excess of 9.99% (which percentage can be increased or decreased from time to time to a percentage not in excess of 19.99%, effective as of the sixty-first (61st) day after delivery of written notice of such increase or decrease to the Issuer) of the number of Shares outstanding immediately after giving effect to such issuance (the &quot;Beneficial Ownership Limitation&quot;). On October 21, 2024, Alta Fox Opportunities delivered a notice to the Issuer decreasing the Beneficial Ownership Limitation to 3.0%. As of November 11, 2024, the Attribution Parties beneficially owned in excess of 3.0% of the Shares outstanding of Issuer. On November 11, 2024, the Issuer delivered a purported notice of forced conversion to Alta Fox Opportunities (the &quot;Purported Conversion Notice&quot;). The Purported Conversion Notice stated that the Conversion Amount was $7 million, to purportedly be converted into 1,109,350 shares, (continued at footnote (5)</footnote>
        <footnote id="F5">(continued from footnote (4) with a purported conversion date of December 3, 2024. The Reporting Persons dispute the effectiveness of the Purported Conversion Notice and reserve all rights regarding the same. The Issuer has informed Alta Fox Opportunities that its purported forced conversion of the Convertible Note will not result in the issuance of common shares to Alta Fox Opportunities until after Alta Fox Opportunities certifies it owns less than the Beneficial Ownership Limitation. On November 25, 2024, Alta Fox Opportunities delivered a notice to the Issuer increasing the Beneficial Ownership Limitation to 14.99%, which increase will not be effective until the sixty-first (61st) day after the delivery of the notice on November 25, 2024.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>ALTA FOX OPPORTUNITIES FUND, LP,  By: Alta Fox GenPar, LP,  its general partner, /s/ P. Connor Haley, Authorized Signatory</signatureName>
        <signatureDate>2024-12-05</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>ALTA FOX GENPAR, LP, By: Alta Fox Equity, LLC, its general partner, /s/ P. Connor Haley, Authorized Signatory</signatureName>
        <signatureDate>2024-12-05</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>ALTA FOX EQUITY, LLC, By: P. Connor Haley, its manager, /s/ P. Connor Haley, Authorized Signatory</signatureName>
        <signatureDate>2024-12-05</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>ALTA FOX CAPITAL MANAGEMENT, LLC, By: P. Connor Haley, its manager, /s/ P. Connor Haley, Authorized Signatory</signatureName>
        <signatureDate>2024-12-05</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>/s/ P. Connor Haley</signatureName>
        <signatureDate>2024-12-05</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
