Page 3 of 4 – SEC Filing
| CUSIP No. 957541105 | 13D | Page 2 of 3 Pages | ||
Item 1. Security and Issuer.
This statement related
to the common stock class A, $.01 par value per share (the “Shares”), of Westell Technologies, Inc (the “Issuer”).
The address of the principal executive offices of the Issuer is 750 North Commons Drive, Aurora, IL 60504.
Item 2. Identity and Background.
a) This statement on Schedule 13D is being
filed pursuant to Rule 13d-1 under the Securities Exchange Act of 1934, as amended, by Cove Street Capital, LLC (CSC).
b) The address of the principal office of CSC
is: 2101 East El Segundo Boulevard, Suite 302, El Segundo, CA 90245
c) The principal business of CSC is as an Investment
Adviser.
d) CSC, nor any of its members has, during
the last five years, been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors).
e) CSC, nor any of its members was,
during the last five years, a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and,
as a result of such proceeding, was or is subject to a judgment, decree or final order (1) enjoining future violations of, or
prohibiting or mandating activities subject to, federal or state securities laws, or (2) finding any violation with respect
to such laws.
f) CSC is a Delaware limited liability company.
Item 3. Source or Amount of Funds or
Other Consideration.
CSC in its capacity as an Investment Adviser will purchase on behalf of its clients. No monies are borrowed for such an acquisition.
The aggregate purchase price of the 7,112,664 Shares beneficially owned by CSC is approximately $14,771,512 including brokerage
commissions.
Item 4. Purpose of Transaction.
The purpose of
this filing is to update our ownership percentage as previously filed on September 20, 2016.
Item 5. Interest in Securities of the
Issuer.
The
aggregate percentage of Shares reported owned by each person named herein is based upon 47,772,202 Shares
outstanding, which is the total number of Shares outstanding as of June 30, 2016 as reported in the Issuer’s Quarterly
Report on Form 10-Q filed with the Securities and Exchange Commission on February 10, 2017.
A. CSC
(a) As of the close of business
on February 28, 2017, CSC beneficially owned 7,112,664 shares. Percentage: Approximately 14.89%
(b) 1. Sole power to vote or direct
to vote: 5,989,711
2. Shared power to vote of direct vote:
1,122,953
3. Sole power to dispose of direct
the disposition: 5,989,711
4. Shared power to dispose or direct
the disposition: 1,122,953
(c) CSC has effected transactions,
on behalf of its clients, in the following shares of Common Stock Class A in the last 60 days.
| Date Of Transaction | Buys/Sells | Quantity | Amount | Unit Price |
| 02/07/2017 | Sell | 38,273 | 32,971.46 | 0.86 |
| 02/07/2017 | Sell | 11,727 | 10,102.58 | 0.86 |
| 02/14/2017 | Sell | 40,781 | 32,032.77 | 0.79 |
Item 6. Contracts, Arrangements,
Understandings or Relationships with Respect to Securities of the Issuer.
Except as otherwise
described in this Schedule 13D, there are no contracts, arrangements, understandings, or relationships (legal or otherwise) among
CSC, or between any third party, with respect to any securities of the Issuer
Item 7. Material to Be Filed as
Exhibits.
