UNITED STATES

SECURITIES AND EXCHANGE

COMMISSION

Washington, D.C. 20549

 

SCHEDULE 13G

(Rule 13d-102)

 

Information Statement Pursuant to Rules 13d-1

Under the Securities Exchange Act of 1934
(Amendment No. 16)*

 

Pure Cycle Corporation

(Name of Issuer)

 

Common Stock, par value 1/3 of $.01 per share

(Title of Class of Securities)

 

746228303

(CUSIP Number)

 

September 28, 2020

Date of Event Which Requires Filing of the Statement

 

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

 

x

Rule 13d-1(b)

o

Rule 13d-1(c)

o

Rule 13d-1(d)

 

*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.

 

The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

 

 

 

 

CUSIP No. 746228303

Schedule 13G

 

 

 

1.

Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person

 

Trigran Investments, Inc.

 

 

 

 

2.

Check the Appropriate Box if a Member of a Group

 

 

(a)

o

 

 

(b)

x

 

 

 

 

3.

SEC Use Only

 

 

 

 

4.

Citizenship or Place of Organization
Illinois company

 

 

 

Number of
Shares
Beneficially
Owned by
Each
Reporting
Person With

5.

Sole Voting Power
0

 

 

6.

Shared Voting Power
0

 

 

7.

Sole Dispositive Power
0

 

 

8.

Shared Dispositive Power
0

 

 

 

 

9.

Aggregate Amount Beneficially Owned by Each Reporting Person
0

 

 

 

 

10.

Check Box if the Aggregate Amount in Row (9) Excludes Certain Shares   o

 

 

 

 

11.

Percent of Class Represented by Amount in Row (9)
0

 

 

 

 

12.

Type of Reporting Person
IA/CO

 

2

 

CUSIP No. 746228303

Schedule 13G

 

 

 

1.

Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person

 

Douglas Granat

 

 

 

 

2.

Check the Appropriate Box if a Member of a Group

 

 

(a)

o

 

 

(b)

x

 

 

 

 

3.

SEC Use Only

 

 

 

 

4.

Citizenship or Place of Organization
U.S. Citizen

 

 

 

Number of
Shares
Beneficially
Owned by
Each
Reporting
Person With

5.

Sole Voting Power
0

 

 

6.

Shared Voting Power
0

 

 

7.

Sole Dispositive Power
0

 

 

8.

Shared Dispositive Power
0

 

 

 

 

9.

Aggregate Amount Beneficially Owned by Each Reporting Person
0

 

 

 

 

10.

Check Box if the Aggregate Amount in Row (9) Excludes Certain Shares   o

 

 

 

 

11.

Percent of Class Represented by Amount in Row (9)
0

 

 

 

 

12.

Type of Reporting Person
IN/HC

 

3

 

CUSIP No. 746228303

Schedule 13G

 

 

 

1.

Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person

 

Lawrence A. Oberman

 

 

2.

Check the Appropriate Box if a Member of a Group

 

 

(a)

o

 

 

(b)

x

 

 

3.

SEC Use Only

 

 

4.

Citizenship or Place of Organization
U.S. Citizen

 

 

 

Number of
Shares
Beneficially
Owned by
Each
Reporting
Person With

5.

Sole Voting Power
0

 

6.

Shared Voting Power
0

 

7.

Sole Dispositive Power
0

 

8.

Shared Dispositive Power
0

 

 

 

 

9.

Aggregate Amount Beneficially Owned by Each Reporting Person
0

 

 

 

 

10.

Check Box if the Aggregate Amount in Row (9) Excludes Certain Shares   o

 

 

 

 

11.

Percent of Class Represented by Amount in Row (9)
0

 

 

 

 

12.

Type of Reporting Person
IN/HC

 

4

 

CUSIP No. 746228303

Schedule 13G

 

 

 

1.

Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person

 

Steven G. Simon

 

 

2.

Check the Appropriate Box if a Member of a Group

 

 

(a)

o

 

 

(b)

x

 

 

3.

SEC Use Only

 

 

4.

Citizenship or Place of Organization
U.S. Citizen

 

 

 

Number of
Shares
Beneficially
Owned by
Each
Reporting
Person With

5.

Sole Voting Power
0

 

6.

Shared Voting Power
0

 

7.

Sole Dispositive Power
0

 

8.

Shared Dispositive Power
0

 

 

9.

Aggregate Amount Beneficially Owned by Each Reporting Person
0

 

 

10.

Check Box if the Aggregate Amount in Row (9) Excludes Certain Shares   o

 

 

11.

Percent of Class Represented by Amount in Row (9)
0

 

 

12.

Type of Reporting Person
IN/HC

 

5

 

CUSIP No. 746228303

Schedule 13G

 

 

 

1.

Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person

 

Bradley F. Simon

 

 

2.

Check the Appropriate Box if a Member of a Group

 

 

(a)

o

 

 

(b)

x

 

 

3.

SEC Use Only

 

 

4.

Citizenship or Place of Organization
U.S. Citizen

 

 

 

Number of
Shares
Beneficially
Owned by
Each
Reporting
Person With

5.

Sole Voting Power
0

 

6.

Shared Voting Power
0

 

7.

Sole Dispositive Power
0

 

8.

Shared Dispositive Power
0

 

 

9.

Aggregate Amount Beneficially Owned by Each Reporting Person
0

 

 

10.

Check Box if the Aggregate Amount in Row (9) Excludes Certain Shares   o

 

 

11.

Percent of Class Represented by Amount in Row (9)
0

 

 

12.

Type of Reporting Person
IN/HC

 

6

 

CUSIP No. 746228303

Schedule 13G

 

 

 

1.

Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person

 

Steven R. Monieson

 

 

2.

Check the Appropriate Box if a Member of a Group

 

 

(a)

o

 

 

(b)

x

 

 

3.

SEC Use Only

 

 

4.

Citizenship or Place of Organization
U.S. Citizen

 

 

 

Number of
Shares
Beneficially
Owned by
Each
Reporting
Person With

5.

Sole Voting Power
0

 

6.

Shared Voting Power
0

 

7.

Sole Dispositive Power
0

 

8.

Shared Dispositive Power
0

 

 

9.

Aggregate Amount Beneficially Owned by Each Reporting Person
0

 

 

10.

Check Box if the Aggregate Amount in Row (9) Excludes Certain Shares   o

 

 

11.

Percent of Class Represented by Amount in Row (9)
0

 

 

12.

Type of Reporting Person
IN/HC

 

7

 

CUSIP No. 746228303

Schedule 13G

 

 

Item 1(a)

 

Name of Issuer:
Pure Cycle Corporation

Item 1(b)

 

Address of Issuer’s Principal Executive Offices:
34501 E. Quincy Avenue, Bldg. 34, Box 10
Watkins, CO 80137

 

Item 2(a)

 

 

Name of Person Filing

 

Item 2(b)

 

Address of Principal Business Office

 

Item 2(c)

 

Citizenship
Trigran Investments, Inc.
630 Dundee Road, Suite 230
Northbrook, IL 60062
Illinois company

Douglas Granat
630 Dundee Road, Suite 230
Northbrook, IL 60062
U.S. Citizen

Lawrence A. Oberman
630 Dundee Road, Suite 230
Northbrook, IL 60062
U.S. Citizen

Steven G. Simon
630 Dundee Road, Suite 230
Northbrook, IL 60062
U.S. Citizen

Bradley F. Simon
630 Dundee Road, Suite 230
Northbrook, Illinois 60062
U.S. Citizen

Steven R. Monieson
630 Dundee Road, Suite 230
Northbrook, Illinois 60062
U.S. Citizen

2(d)

 

Title of Class of Securities:
Common Stock, par value 1/3 of $.01 per share

2(e)

 

CUSIP Number:
746228303

 

8

 

CUSIP No. 746228303

Schedule 13G

 

 

Item 3

 

If this statement is filed pursuant to Rules 13d-1(b), or 13d-2(b) or (c), check whether the person filing is a:

 

(a)

o

Broker or dealer registered under Section 15 of the Exchange Act;

 

(b)

o

Bank as defined in Section 3(a)(6) of the Exchange Act;

 

(c)

o

Insurance company as defined in Section 3(a)(19) of the Exchange Act;

 

(d)

o

Investment company registered under Section 8 of the Investment Company Act;

 

(e)

x

An investment adviser in accordance with Rule 13d-1(b)(1)(ii)(E);

 

(f)

o

An employee benefit plan or endowment fund in accordance with Rule 13d-1(b)(1)(ii)(F);

 

(g)

x

A parent holding company or control person in accordance with Rule 13d-1(b)(1)(ii)(G);

 

(h)

o

A savings association as defined in Section 3(b) of the Federal Deposit Insurance Act;

 

(i)

o

A church plan that is excluded from the definition of an investment company under Section 3(c)(14) of the Investment Company Act;

 

(j)

o

A non-U.S. institution in accordance with Rule 13d–1(b)(1)(ii)(J);

 

(k)

o

Group, in accordance with Rule 13d-1(b)(1)(ii)(K). If filing as a non-U.S. institution in accordance with
Rule 13d–1(b)(1)(ii)(J), please specify the type of institution:                                     

 

 

 

If this statement is filed pursuant to Rule 13d-1(c), check this box. o

 

Item 4

Ownership:(1)

 

(a)

Amount beneficially owned:

Incorporated by reference to Item 9 of the cover page pertaining to each reporting person.

 

(b)

Percent of Class:

Incorporated by reference to Item 11 of the cover page pertaining to each reporting person.

 

(c)

Number of shares as to which such person has:

 

 

 

(i)

sole power to vote or to direct the vote:

Incorporated by reference to Item 5 of the cover page pertaining to each reporting person.

 

 

(ii)

shared power to vote or to direct the vote:

Incorporated by reference to Item 6 of the cover page pertaining to each reporting person.

 

 

(iii)

sole power to dispose or to direct the disposition of:

Incorporated by reference to Item 7 of the cover page pertaining to each reporting person.

 

 

(iv)

shared power to dispose or to direct the disposition of:

Incorporated by reference to Item 8 of the cover page pertaining to each reporting person.

 

 (1)  Douglas Granat, Lawrence A. Oberman, Steven G. Simon, Bradley F. Simon and Steven R. Monieson are the controlling shareholders and/or sole directors of Trigran Investments, Inc. and thus may be considered the beneficial owners of shares beneficially owned by Trigran Investments, Inc.

 

9

 

CUSIP No. 746228303

Schedule 13G

 

 

Item 5

Ownership of Five Percent or Less of a Class:

 

If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than 5 percent of the class of securities, check the following  x.

 

Item 6

Ownership of More than Five Percent on Behalf of Another Person:

 

Not Applicable.

 

Item 7

Identification and Classification of the Subsidiary which Acquired the Security Being Reported on by the Parent Holding Company:

 

Not Applicable.

 

Item 8

Identification and Classification of Members of the Group:

 

Not Applicable.

 

Item 9

Notice of Dissolution of Group:

 

Not Applicable.

 

Item 10

Certification:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect.

 

10

 

CUSIP No. 746228303

Schedule 13G

 

 

After reasonable inquiry and to the best of its knowledge and belief, the undersigned certify that the information set forth in this statement is true, complete and correct.

 

Dated this 2nd day of October, 2020

 

TRIGRAN INVESTMENTS, INC.

 

 

 

 

By:

/s/ Lawrence A. Oberman

 

Name:

Lawrence A. Oberman

 

Title:

Executive Vice President and Director

 

 

 

 

/s/ Douglas Granat

 

Douglas Granat

 

 

 

/s/ Lawrence A. Oberman

 

Lawrence A. Oberman

 

 

 

/s/ Steven G. Simon

 

Steven G. Simon

 

 

 

/s/ Bradley F. Simon

 

Bradley F. Simon

 

 

 

/s/ Steven R. Monieson

 

Steven R. Monieson

 

 

11

 

CUSIP No. 746228303

Schedule 13G

 

 

INDEX TO EXHIBITS

 

PAGE

 

 

 

EXHIBIT 1: Agreement to Make a Joint Filing

 

1

 

12