Lin Jiayuan Amends Cango Inc. 13D Filing
Ticker: CANG · Form: SC 13D/A · Filed: Aug 20, 2024 · CIK: 1725123
Sentiment: neutral
Topics: ownership-change, sec-filing, schedule-13d
Related Tickers: Cango Inc.
TL;DR
Lin Jiayuan just updated his Cango Inc. stake filing. Watch this space.
AI Summary
On August 20, 2024, Lin Jiayuan filed an amendment (Amendment No. 2) to Schedule 13D for Cango Inc. This filing indicates a change in beneficial ownership of Cango Inc.'s Class A Ordinary Shares. The filing was made by Lin Jiayuan, with business and mailing addresses in Shanghai, China.
Why It Matters
Changes in beneficial ownership filings like this can signal shifts in control or significant investment activity by major shareholders, potentially impacting stock price and corporate strategy.
Risk Assessment
Risk Level: medium — Amendments to Schedule 13D often indicate significant changes in a major shareholder's position or intentions, which can introduce volatility.
Key Numbers
- 2 — Amendment Number (Indicates this is the second update to the original filing.)
- August 16, 2024 — Date of Report (The date the information in the filing is current as of.)
- August 20, 2024 — Filing Date (The date the amendment was officially submitted to the SEC.)
Key Players & Entities
- Lin Jiayuan (person) — Filing party, beneficial owner
- Cango Inc. (company) — Subject company
- TRAVELER ENTERPRISE LTD (company) — Group member
- TRAVELER HOLDINGS LTD (company) — Group member
- Yi Gao, Esq. (person) — Legal counsel
- Simpson Thacher & Bartlett (company) — Legal firm
FAQ
What specific changes in beneficial ownership are detailed in this Amendment No. 2?
The filing is an amendment to Schedule 13D, indicating a change in beneficial ownership, but the specific details of the change (e.g., number of shares, percentage) are not provided in the header information.
Who is Lin Jiayuan in relation to Cango Inc.?
Lin Jiayuan is identified as the person filing the Schedule 13D/A, indicating he is a beneficial owner of Cango Inc.'s Class A Ordinary Shares.
What is the primary purpose of a Schedule 13D filing?
A Schedule 13D filing is required for any person or group who acquires beneficial ownership of more than five percent of a class of a company's equity securities, and it discloses information about the filer's background, purpose of the transaction, and plans or proposals.
When was the original Schedule 13D filing made for Cango Inc. by Lin Jiayuan?
The provided text indicates this is Amendment No. 2, filed on August 20, 2024, but does not specify the date of the original Schedule 13D filing.
What is the business address provided for Cango Inc.?
The business address for Cango Inc. is 8F, New Bund Oriental Plaza II, 556 West Haiyang Road, Pudong, Shanghai, F4, 200127.
Filing Stats: 2,199 words · 9 min read · ~7 pages · Grade level 10.7 · Accepted 2024-08-20 06:06:27
Key Financial Figures
- $0.0001 — Class A Ordinary Shares, par value US$0.0001 per share (Title of Class of Securiti
Filing Documents
- tm2421718d1_sc13da.htm (SC 13D/A) — 65KB
- 0001104659-24-091024.txt ( ) — 67KB
Interest in Securities of the Issuer
Item 5. Interest in Securities of the Issuer
of the Schedule 13D is hereby amended and restated in its entirety
Item 5 of the Schedule 13D is hereby amended and restated in its entirety as follows: The information set forth in Items 2, 3 and 6 of this Schedule 13D and the cover pages of this Schedule 13D is hereby incorporated by reference into this Item 5. (a)-(b) The responses of each Reporting Person to rows 7, 8, 9, 10, 11 and 13 of the cover pages of this Schedule 13D are hereby incorporated by reference into this Item 5. As of the date hereof, (i) 34,702,890 Class B ordinary shares are held directly by Traveler Enterprise Limited, (ii) 2,741,606 Class A ordinary shares represented by American Depositary Shares are beneficially owned by Traveler Enterprise Limited, (iii) 1 Class A ordinary share is held by Medway Brilliant Holding Limited and (iv) Mr. Jiayuan Lin holds options to purchase up to 13,210,936 Class A ordinary shares exercisable within 60 days of the date hereof. The percentage of the class of securities beneficially owned is calculated based on (i) 135,751,299 Class A ordinary shares of the Issuer issued and outstanding as of March 31, 2024, as provided by the Issuer, (ii) 34,702,890 Class B ordinary shares beneficially owned by the Reporting Persons, assuming the conversion of all such Class B ordinary shares into the same number of Class A ordinary shares and (iii) 13,210,936 Class A ordinary shares that Mr. Jiayuan Lin has the right to acquire within 60 days after the date hereof pursuant to the terms of the options granted to him, assuming such options were exercised, as applicable. The voting power of the shares beneficially owned by Mr. Jiayuan Lin represents 44.1% of the total outstanding voting power. The percentage of voting power is calculated by dividing the voting power beneficially owned by such reporting person by the voting power of (i) a total of 135,751,299 Class A ordinary shares and 72,978,677 Class B ordinary shares of the Issuer issued and outstanding as of March 31, 2024, as provided by the Issuer, as well as (ii) 13,210,936 Class
Signatures
Signatures 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: August 20, 2024 JIAYUAN LIN By: /s/ Jiayuan Lin TRAVELER HOLDINGS LIMITED By: /s/ Susan Palmer /s/ Joanne Turnbull Name: Rustem Limited represented by Susan Palmer and Joanne Turnbull Title: Director and Authorized Signatory TRAVELER ENTERPRISE LIMITED By: /s/ Jiayuan Lin Name: Jiayuan Lin Title: Authorized Signatory