Jeffrey G. Gigan-Led Group Discloses 6.46% Stake in CPS Technologies
Key Facts
An investment group comprising Global Value Investment Corporation and five individuals disclosed ownership of about 6.46% of CPS Technologies’ common stock, according to a Schedule 13D filed with the U.S. Securities and Exchange Commission. The filing said the group held 1,251,627 shares in the company as of 4:00 p.m. Eastern time on October 26, 2026. Jeffrey R. Gigan is executive chairman and a member of GVIC’s board, and the filing described him as the person controlling it. The disclosure comes as the company approaches its next quarterly results, but the filing does not link the stake to the results announcement date. The filers said they acquired the shares for investment purposes and in the ordinary course of their business.
The filers are GVIC, Jeffrey R. Gigan, James P. Gigan, Stacey A. Wilk, Kathleen M. Gigan and Sean J. Rice. GVIC acts as investment adviser to accounts it manages, according to the filing. The ownership percentage was calculated using 19,387,942 common shares outstanding as of July 26, 2026. The share count is based on the company’s quarterly report for the quarter ended June 27, 2026. The percentage therefore reflects a share base dated in July, while the disclosed holding figure is as of October 26.
The filers said they may monitor CPS’s operations, prospects, business developments and management, as well as competitive and strategic matters and its capital structure. They also said they may assess market conditions and other relevant factors and hold discussions with the company’s management, board members, shareholders, analysts and other parties. The filing indicates that they could propose changes to operations, governance or capitalization, but identifies no specific change or existing implementation plan. It states that the group will monitor “the company’s operations, prospects and business developments.” This describes a potential scope for monitoring and discussion and does not in itself provide evidence of a decision to intervene in the company’s management.
In its latest quarterly results cited in the filing, CPS reported revenue of $8.3 million in the second quarter of 2026, compared with $8.1 million in the same period a year earlier. But gross margin fell to 14.8% from 16.5%, and the company swung from operating income of $0.1 million to an operating loss of $0.2 million. Chief Executive Brian Mackey said quarterly revenue increased from the second quarter of 2025 and the first quarter of 2026, and that gross margin improved 620 basis points from the first quarter. He added that the company sees strong demand across its product lines and that its margins have recovered substantially. The figures provide financial context for the disclosure, with revenue growth contrasting with annual pressure on margin and operating results.
CPS said it completed a secondary offering that raised $9.6 million in gross proceeds to support growth initiatives. It also reported continuing funded development programs, including a controlled-fragmentation tungsten warhead for the U.S. Army and work to reduce the weight of the amphibious combat vehicle funded by the U.S. Navy. On expansion, the company said it plans to move to an improved manufacturing facility and is finalizing negotiations over the site best suited to support its growth. CPS Technologies shares closed at $3.54 on November 2, 2026, according to EL7 data. These details place the stake disclosure amid the company’s ongoing growth and development initiatives and manufacturing-site plans.