Schedule 13D Filing for Medifast Inc.

Steamboat Capital Partners, LLC and Parsa Kiai have jointly filed a Schedule 13D regarding their beneficial ownership of Medifast Inc. common stock. They collectively own 6.0% of the outstanding shares, amounting to 657,590 shares. The shares were acquired for approximately $7.4 million. The filing indicates that the Reporting Persons believe Medifast stock is undervalued and have communicated financial and strategic suggestions to the company's board. They have also entered into a Cooperation Agreement with Medifast, which includes the nomination of two individuals suggested by Steamboat Capital Partners to the board of directors at the upcoming annual meeting. The Reporting Persons intend to continue discussions with the company regarding profitability, strategic direction, and shareholder value, and may consider further actions such as purchasing additional shares or selling their existing stake, subject to the terms of the Cooperation Agreement. The agreement also outlines a standstill provision and confidentiality obligations.