Summary by Futu AI
On August 16th, 2024, Dr. Anil Choudary Nalluri, a psychiatrist based in Ohio, filed an amendment to the Schedule 13D with the United States Securities and Exchange Commission, disclosing his beneficial ownership of over 20% of Avalon Holdings Corporation's Class A Common Stock. Dr. Nalluri now owns 1,092,356 shares, representing approximately 33.226% of the company's outstanding shares. The filing indicates that these shares were acquired using personal funds and that Dr. Nalluri has sole voting and dispositive power over these shares. While Dr. Nalluri has not outlined any specific plans or proposals for the company, he reserves the right to change his investment strategy, which may include buying more shares, selling his stake, or formulating plans regarding the company's securities. The filing emphasizes that Dr. Nalluri's actions will be aimed at maximizing the value of his investments, taking into account market conditions and the business prospects of Avalon Holdings.