<SEC-DOCUMENT>0000921895-25-000796.txt : 20250317
<SEC-HEADER>0000921895-25-000796.hdr.sgml : 20250317
<ACCEPTANCE-DATETIME>20250317205922
ACCESSION NUMBER:		0000921895-25-000796
CONFORMED SUBMISSION TYPE:	SCHEDULE 13D/A
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20250317
DATE AS OF CHANGE:		20250317

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CULP INC
		CENTRAL INDEX KEY:			0000723603
		STANDARD INDUSTRIAL CLASSIFICATION:	BROADWOVEN FABRIC MILLS, COTTON [2211]
		ORGANIZATION NAME:           	04 Manufacturing
		IRS NUMBER:				561001967
		STATE OF INCORPORATION:			NC
		FISCAL YEAR END:			0428

	FILING VALUES:
		FORM TYPE:		SCHEDULE 13D/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-34989
		FILM NUMBER:		25746239

	BUSINESS ADDRESS:	
		STREET 1:		410 W. ENGLISH ROAD 5TH FLOOR
		CITY:			HIGH POINT
		STATE:			NC
		ZIP:			27262
		BUSINESS PHONE:		3368895161

	MAIL ADDRESS:	
		STREET 1:		410 W. ENGLISH ROAD 5TH FLOOR
		CITY:			HIGH POINT
		STATE:			NC
		ZIP:			27262

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			22NW Fund, LP
		CENTRAL INDEX KEY:			0001640809
		ORGANIZATION NAME:           	
		IRS NUMBER:				473303449
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SCHEDULE 13D/A

	BUSINESS ADDRESS:	
		STREET 1:		1455 NW LEARY WAY
		STREET 2:		SUITE 400
		CITY:			SEATTLE
		STATE:			WA
		ZIP:			98107
		BUSINESS PHONE:		206-227-3078

	MAIL ADDRESS:	
		STREET 1:		1455 NW LEARY WAY
		STREET 2:		SUITE 400
		CITY:			SEATTLE
		STATE:			WA
		ZIP:			98107
</SEC-HEADER>
<DOCUMENT>
<TYPE>SCHEDULE 13D/A
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
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<?xml version="1.0" encoding="UTF-8"?><edgarSubmission xmlns="http://www.sec.gov/edgar/schedule13D" xmlns:com="http://www.sec.gov/edgar/common">
  <headerData>
    <submissionType>SCHEDULE 13D/A</submissionType>
    <previousAccessionNumber>0000921895-24-000833</previousAccessionNumber>
    <filerInfo>
      <filer>
        <filerCredentials>
          <!-- Field: Pseudo-Tag; ID: Name; Data: 22NW Fund, LP -->
          <cik>0001640809</cik>
          <ccc>XXXXXXXX</ccc>
        </filerCredentials>
      </filer>
      <liveTestFlag>LIVE</liveTestFlag>


    </filerInfo>
  </headerData>
  <formData>
    <coverPageHeader>
      <amendmentNo>3</amendmentNo>
      <securitiesClassTitle>Common Stock, par value $0.05 per share</securitiesClassTitle>
      <dateOfEvent>03/13/2025</dateOfEvent>
      <previouslyFiledFlag>true</previouslyFiledFlag>
      <issuerInfo>
        <issuerCIK>0000723603</issuerCIK>
        <issuerCUSIP>230215105</issuerCUSIP>
        <issuerName>CULP INC</issuerName>
        <address>
          <com:street1>410 W. ENGLISH ROAD 5TH FLOOR</com:street1>
          <com:city>HIGH POINT</com:city>
          <com:stateOrCountry>NC</com:stateOrCountry>
          <com:zipCode>27262</com:zipCode>
        </address>
      </issuerInfo>
      <authorizedPersons>
        <notificationInfo>
          <personName>ARON R. ENGLISH</personName>
          <personPhoneNum>206-227-3078</personPhoneNum>
          <personAddress>
            <com:street1>22NW, LP</com:street1>
            <com:street2>590 1st Ave. S, Unit C1</com:street2>
            <com:city>Seattle</com:city>
            <com:stateOrCountry>WA</com:stateOrCountry>
            <com:zipCode>98104</com:zipCode>
          </personAddress>
        </notificationInfo>
        <notificationInfo>
          <personName>RYAN NEBEL</personName>
          <personPhoneNum>212-451-2300</personPhoneNum>
          <personAddress>
            <com:street1>OLSHAN FROME WOLOSKY LLP</com:street1>
            <com:street2>1325 Avenue of the Americas</com:street2>
            <com:city>New York</com:city>
            <com:stateOrCountry>NY</com:stateOrCountry>
            <com:zipCode>10019</com:zipCode>
          </personAddress>
        </notificationInfo>
      </authorizedPersons>
    </coverPageHeader>
    <reportingPersons>
      <reportingPersonInfo>
        <reportingPersonCIK>0001640809</reportingPersonCIK>
        <reportingPersonNoCIK>N</reportingPersonNoCIK>
        <reportingPersonName>22NW Fund, LP</reportingPersonName>
        <memberOfGroup>a</memberOfGroup>
        <fundType>WC</fundType>
        <legalProceedings>N</legalProceedings>
        <citizenshipOrOrganization>DE</citizenshipOrOrganization>
        <soleVotingPower>1734323.00</soleVotingPower>
        <sharedVotingPower>0.00</sharedVotingPower>
        <soleDispositivePower>1734323.00</soleDispositivePower>
        <sharedDispositivePower>0.00</sharedDispositivePower>
        <aggregateAmountOwned>1734323.00</aggregateAmountOwned>
        <isAggregateExcludeShares>N</isAggregateExcludeShares>
        <percentOfClass>13.8</percentOfClass>
        <typeOfReportingPerson>PN</typeOfReportingPerson>
      </reportingPersonInfo>
      <reportingPersonInfo>
        <reportingPersonCIK>0001694297</reportingPersonCIK>
        <reportingPersonNoCIK>N</reportingPersonNoCIK>
        <reportingPersonName>22NW, LP</reportingPersonName>
        <memberOfGroup>a</memberOfGroup>
        <fundType>OO</fundType>
        <legalProceedings>N</legalProceedings>
        <citizenshipOrOrganization>DE</citizenshipOrOrganization>
        <soleVotingPower>1734323.00</soleVotingPower>
        <sharedVotingPower>0.00</sharedVotingPower>
        <soleDispositivePower>1734323.00</soleDispositivePower>
        <sharedDispositivePower>0.00</sharedDispositivePower>
        <aggregateAmountOwned>1734323.00</aggregateAmountOwned>
        <isAggregateExcludeShares>N</isAggregateExcludeShares>
        <percentOfClass>13.8</percentOfClass>
        <typeOfReportingPerson>PN</typeOfReportingPerson>
      </reportingPersonInfo>
      <reportingPersonInfo>
        <reportingPersonCIK>0001770575</reportingPersonCIK>
        <reportingPersonNoCIK>N</reportingPersonNoCIK>
        <reportingPersonName>22NW Fund GP, LLC</reportingPersonName>
        <memberOfGroup>a</memberOfGroup>
        <fundType>OO</fundType>
        <legalProceedings>N</legalProceedings>
        <citizenshipOrOrganization>DE</citizenshipOrOrganization>
        <soleVotingPower>1734323.00</soleVotingPower>
        <sharedVotingPower>0.00</sharedVotingPower>
        <soleDispositivePower>1734323.00</soleDispositivePower>
        <sharedDispositivePower>0.00</sharedDispositivePower>
        <aggregateAmountOwned>1734323.00</aggregateAmountOwned>
        <isAggregateExcludeShares>N</isAggregateExcludeShares>
        <percentOfClass>13.8</percentOfClass>
        <typeOfReportingPerson>OO</typeOfReportingPerson>
      </reportingPersonInfo>
      <reportingPersonInfo>
        <reportingPersonCIK>0001783663</reportingPersonCIK>
        <reportingPersonNoCIK>N</reportingPersonNoCIK>
        <reportingPersonName>22NW GP, Inc.</reportingPersonName>
        <memberOfGroup>a</memberOfGroup>
        <fundType>OO</fundType>
        <legalProceedings>N</legalProceedings>
        <citizenshipOrOrganization>DE</citizenshipOrOrganization>
        <soleVotingPower>1734323.00</soleVotingPower>
        <sharedVotingPower>0.00</sharedVotingPower>
        <soleDispositivePower>1734323.00</soleDispositivePower>
        <sharedDispositivePower>0.00</sharedDispositivePower>
        <aggregateAmountOwned>1734323.00</aggregateAmountOwned>
        <isAggregateExcludeShares>N</isAggregateExcludeShares>
        <percentOfClass>13.8</percentOfClass>
        <typeOfReportingPerson>CO</typeOfReportingPerson>
      </reportingPersonInfo>
      <reportingPersonInfo>
        <reportingPersonCIK>0001770436</reportingPersonCIK>
        <reportingPersonNoCIK>N</reportingPersonNoCIK>
        <reportingPersonName>English Aron R.</reportingPersonName>
        <memberOfGroup>a</memberOfGroup>
        <fundType>PF</fundType>
        <fundType>OO</fundType>
        <legalProceedings>N</legalProceedings>
        <citizenshipOrOrganization>X1</citizenshipOrOrganization>
        <soleVotingPower>1735773.00</soleVotingPower>
        <sharedVotingPower>0.00</sharedVotingPower>
        <soleDispositivePower>1735773.00</soleDispositivePower>
        <sharedDispositivePower>0.00</sharedDispositivePower>
        <aggregateAmountOwned>1735773.00</aggregateAmountOwned>
        <isAggregateExcludeShares>N</isAggregateExcludeShares>
        <percentOfClass>13.8</percentOfClass>
        <typeOfReportingPerson>IN</typeOfReportingPerson>
      </reportingPersonInfo>
      <reportingPersonInfo>
        <reportingPersonCIK>0001888106</reportingPersonCIK>
        <reportingPersonNoCIK>N</reportingPersonNoCIK>
        <reportingPersonName>Hirai-Hadley Bryson</reportingPersonName>
        <memberOfGroup>a</memberOfGroup>
        <fundType>PF</fundType>
        <legalProceedings>N</legalProceedings>
        <citizenshipOrOrganization>X1</citizenshipOrOrganization>
        <soleVotingPower>799.00</soleVotingPower>
        <sharedVotingPower>0.00</sharedVotingPower>
        <soleDispositivePower>799.00</soleDispositivePower>
        <sharedDispositivePower>0.00</sharedDispositivePower>
        <aggregateAmountOwned>799.00</aggregateAmountOwned>
        <isAggregateExcludeShares>N</isAggregateExcludeShares>
        <percentOfClass>0.006</percentOfClass>
        <typeOfReportingPerson>IN</typeOfReportingPerson>
      </reportingPersonInfo>
      <reportingPersonInfo>
        <reportingPersonCIK>0001888602</reportingPersonCIK>
        <reportingPersonNoCIK>N</reportingPersonNoCIK>
        <reportingPersonName>Jones Alexander B</reportingPersonName>
        <memberOfGroup>a</memberOfGroup>
        <fundType>PF</fundType>
        <legalProceedings>N</legalProceedings>
        <citizenshipOrOrganization>X1</citizenshipOrOrganization>
        <soleVotingPower>525.00</soleVotingPower>
        <sharedVotingPower>0.00</sharedVotingPower>
        <soleDispositivePower>525.00</soleDispositivePower>
        <sharedDispositivePower>0.00</sharedDispositivePower>
        <aggregateAmountOwned>525.00</aggregateAmountOwned>
        <isAggregateExcludeShares>N</isAggregateExcludeShares>
        <percentOfClass>0.004</percentOfClass>
        <typeOfReportingPerson>IN</typeOfReportingPerson>
      </reportingPersonInfo>
    </reportingPersons>
    <items1To7>
      <item1>
        <securityTitle>Common Stock, par value $0.05 per share</securityTitle>
        <issuerName>CULP INC</issuerName>
        <issuerPrincipalAddress>
          <com:street1>410 W. ENGLISH ROAD 5TH FLOOR</com:street1>
          <com:city>HIGH POINT</com:city>
          <com:stateOrCountry>NC</com:stateOrCountry>
          <com:zipCode>27262</com:zipCode>
        </issuerPrincipalAddress>
      </item1>
      <item3>
        <fundsSource>Item 3 is hereby amended and restated to read as follows:

The Shares purchased by 22NW Fund were purchased with working capital (which may, at any given time, include margin loans made by brokerage firms in the ordinary course of business). The aggregate purchase price of the 1,734,323 Shares directly owned by 22NW Fund is approximately $12,860,775, excluding brokerage commissions.

The Shares directly owned by Messrs. English, Hirai-Hadley and Jones were purchased with personal funds (which may, at any given time, include margin loans made by brokerage firms in the ordinary course of business). The aggregate purchase price of the 1,450 Shares directly owned by Mr. English is approximately $10,150, excluding brokerage commissions. The aggregate purchase price of the 799 Shares directly owned by Mr. Hirai-Hadley is approximately $7,994, excluding brokerage commissions. The aggregate purchase price of the 525 Shares directly owned by Mr. Jones is approximately $5,380, excluding brokerage commissions.</fundsSource>
      </item3>
      <item5>
        <percentageOfClassSecurities>Item 5(a) is hereby amended and restated to read as follows:

The aggregate percentage of Shares reported owned by each person named herein is based upon 12,559,129 Shares outstanding as of March 7, 2025, which is the total number of Shares outstanding as reported in the Issuer's Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on March 7, 2025.

As of the date hereof, 22NW Fund directly beneficially owned 1,734,323 Shares, constituting approximately 13.8% of the Shares outstanding.

As of the date hereof, Mr. English directly beneficially owned 1,450 Shares, constituting 0.01% of the Shares outstanding.

As of the date hereof, Mr. Hirai-Hadley directly beneficially owned 799 Shares, constituting 0.006% of the Shares outstanding.

As of the date hereof, Mr. Jones directly beneficially owned 525 Shares, constituting 0.004% of the Shares outstanding.

22NW, as the investment manager of 22NW Fund, may be deemed to beneficially own the 1,734,323 Shares beneficially owned by 22NW Fund, constituting approximately 13.8% of the Shares outstanding. 22NW GP, as the general partner of 22NW Fund, may be deemed to beneficially own the 1,734,323 Shares beneficially owned by 22NW Fund, constituting approximately 13.8% of the Shares outstanding. 22NW Inc., as the general partner of 22NW, may be deemed to beneficially own the 1,734,323 Shares beneficially owned by 22NW Fund, constituting approximately 13.8% of the Shares outstanding. Mr. English, as the Portfolio Manager of 22NW, Manager of 22NW GP and President and sole shareholder of 22NW Inc., may be deemed to beneficially own the 1,734,323 Shares beneficially owned by 22NW Fund, which, together with the Shares he directly beneficially owns, constitutes an aggregate of 1,735,773 Shares, constituting approximately 13.8% of the Shares outstanding.

Each Reporting Person may be deemed to be a member of a "group" with the other Reporting Persons for the purposes of Section 13(d)(3) of the Securities Exchange Act of 1934, as amended, and such group may be deemed to beneficially own the 1,737,097 Shares owned in the aggregate by all of the Reporting Persons. Each Reporting Person disclaims beneficial ownership of the Shares that he or it does not directly own.</percentageOfClassSecurities>
        <transactionDesc>Item 5(c) is hereby amended and restated to read as follows:

The transactions in the Shares by the Reporting Persons during the past sixty days are set forth in Exhibit 1 and are incorporated herein by reference. All of such transactions were effected in the open market unless otherwise noted therein.</transactionDesc>
      </item5>
      <item7>
        <filedExhibits>Item 7 is hereby amended to add the following exhibit:

1 - Transactions in Securities.</filedExhibits>
      </item7>
    </items1To7>
    <signatureInfo>
      <signaturePerson>
        <signatureReportingPerson>22NW Fund, LP</signatureReportingPerson>
        <signatureDetails>
          <signature>/s/ Aron R. English</signature>
          <title>Aron R. English, Manager of 22NW Fund GP, LLC, its General Partner</title>
          <date>03/17/2025</date>
        </signatureDetails>
      </signaturePerson>
      <signaturePerson>
        <signatureReportingPerson>22NW, LP</signatureReportingPerson>
        <signatureDetails>
          <signature>/s/ Aron R. English</signature>
          <title>Aron R. English, President and Sole Shareholder of 22NW GP, Inc., its General Partner</title>
          <date>03/17/2025</date>
        </signatureDetails>
      </signaturePerson>
      <signaturePerson>
        <signatureReportingPerson>22NW Fund GP, LLC</signatureReportingPerson>
        <signatureDetails>
          <signature>/s/ Aron R. English</signature>
          <title>Aron R. English, Manager</title>
          <date>03/17/2025</date>
        </signatureDetails>
      </signaturePerson>
      <signaturePerson>
        <signatureReportingPerson>22NW GP, Inc.</signatureReportingPerson>
        <signatureDetails>
          <signature>/s/ Aron R. English</signature>
          <title>Aron R. English, President and Sole Shareholder</title>
          <date>03/17/2025</date>
        </signatureDetails>
      </signaturePerson>
      <signaturePerson>
        <signatureReportingPerson>English Aron R.</signatureReportingPerson>
        <signatureDetails>
          <signature>/s/ Aron R. English</signature>
          <title>ARON R. ENGLISH</title>
          <date>03/17/2025</date>
        </signatureDetails>
      </signaturePerson>
      <signaturePerson>
        <signatureReportingPerson>Hirai-Hadley Bryson</signatureReportingPerson>
        <signatureDetails>
          <signature>/s/ Bryson O. Hirai-Hadley</signature>
          <title>BRYSON O. HIRAI-HADLEY</title>
          <date>03/17/2025</date>
        </signatureDetails>
      </signaturePerson>
      <signaturePerson>
        <signatureReportingPerson>Jones Alexander B</signatureReportingPerson>
        <signatureDetails>
          <signature>/s/ Alexander B. Jones</signature>
          <title>ALEXANDER B. JONES</title>
          <date>03/17/2025</date>
        </signatureDetails>
      </signaturePerson>
    </signatureInfo>
  </formData>

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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-1
<SEQUENCE>2
<FILENAME>ex1to13da310680017_031725.htm
<DESCRIPTION>TRANSACTIONS IN SECURITIES
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: right">Exhibit 1</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><U>Transactions in the Securities of the
Issuer During the Past Sixty (60) Days</U></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 25%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><U>Nature of the Transaction</U></TD>
    <TD STYLE="width: 25%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">Amount of Securities<BR>
<U>Purchased/(Sold)</U></TD>
    <TD STYLE="white-space: nowrap; width: 25%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><U>Price ($)</U></TD>
    <TD STYLE="width: 25%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">Date of<BR>
<U>Purchase/Sale</U></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><U>22NW FUND, LP</U></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="width: 25%; padding-right: 5.4pt; padding-left: 5.4pt">Purchase of Common Stock</TD>
    <TD STYLE="width: 25%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">13,849</TD>
    <TD STYLE="width: 25%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">4.6457<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><SUP>1</SUP></FONT></TD>
    <TD STYLE="width: 25%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">03/10/2025</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Purchase of Common Stock</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">66,663</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">4.9972<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><SUP>2</SUP></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">03/11/2025</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Purchase of Common Stock</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">6,077</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">5.0514<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><SUP>3</SUP></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">03/12/2025</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Purchase of Common Stock</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">9,793</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">5.0741<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><SUP>4</SUP></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">03/13/2025</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Purchase of Common Stock</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">9,006</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">5.0793<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><SUP>5</SUP></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">03/14/2025</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Purchase of Common Stock</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">4,220 </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">5.1693<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><SUP>6</SUP></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">03/17/2025</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>



<HR ALIGN="LEFT" SIZE="1" STYLE="width: 33%">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><SUP>1</SUP></FONT>
The price reported is a weighted average price. These Shares were purchased in multiple transactions at prices ranging from&nbsp;$4.5300
to $4.8000 per Share. The Reporting Persons undertake to provide to 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 Shares purchased at each separate price within
the range set forth in this footnote.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><SUP>2</SUP></FONT>
The price reported is a weighted average price. These Shares were purchased in multiple transactions at prices ranging from $4.6600 to
$5.0800 per Share. The Reporting Persons undertake to provide to 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 Shares purchased at each separate price within the range
set forth in this footnote.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><SUP>3</SUP></FONT>
The price reported is a weighted average price. These Shares were purchased in multiple transactions at prices ranging from&nbsp;$4.9900
to $5.1000 per Share. The Reporting Persons undertake to provide to 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 Shares purchased at each separate price within
the range set forth in this footnote.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><SUP>4</SUP></FONT>
The price reported is a weighted average price. These Shares were purchased in multiple transactions at prices ranging from&nbsp;$5.0100
to $5.1400 per Share. The Reporting Persons undertake to provide to 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 Shares purchased at each separate price within
the range set forth in this footnote.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><SUP>5</SUP></FONT>
The price reported is a weighted average price. These Shares were purchased in multiple transactions at prices ranging from&nbsp;$5.0500
to $5.1300 per Share. The Reporting Persons undertake to provide to 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 Shares purchased at each separate price within
the range set forth in this footnote.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><SUP>6</SUP></FONT>
The price reported is a weighted average price. These Shares were purchased in multiple transactions at prices ranging from&nbsp;$5.1000
to $5.2200 per Share. The Reporting Persons undertake to provide to 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 Shares purchased at each separate price within
the range set forth in this footnote.</P>

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