DCM IV L.P. Amends GigaCloud Holdings

TL;DR

DCM IV L.P. just updated their GigaCloud stake. Watch this space.

AI Summary

DCM IV L.P. and its affiliates have filed an amendment (No. 4) to their Schedule 13D regarding GigaCloud Technology Inc. The filing, dated May 24, 2024, indicates a change in their holdings. The group members include entities like DCM AFFILIATES FUND IV, L.P. and F. HURST LIN.

Why It Matters

This filing signals a potential shift in significant ownership of GigaCloud Technology Inc., which could influence the company's stock price and strategic direction.

Risk Assessment

Risk Level: medium — Amendments to Schedule 13D filings often indicate significant changes in beneficial ownership, which can lead to increased stock volatility.

Key Players & Entities

• DCM IV L.P. (company) — Filing entity
• GigaCloud Technology Inc. (company) — Subject company
• DCM AFFILIATES FUND IV, L.P. (company) — Group member
• DCM AFFILIATES FUND IX, L.P. (company) — Group member
• DCM INTERNATIONAL IV, LTD. (company) — Group member
• DCM INTERNATIONAL IX, LTD. (company) — Group member
• DCM INVESTMENT MANAGEMENT IV, L.P. (company) — Group member
• DCM INVESTMENT MANAGEMENT IX, L.P. (company) — Group member
• DCM IX, L.P. (company) — Group member
• F. HURST LIN (person) — Group member

FAQ

Key Financial Figures

• $0.05 — er) Class A Ordinary Shares, par value $0.05 per share (Title of Class of Securitie
• $600,000 — lent loans with an aggregate amount of $600,000 to the Company. The loans assumed an in
• $50 — Series A Preferred Shares”), at US$50 per share with total cash consideration
• $6,100,000 — hare with total cash consideration of US$6,100,000. On the same day, DCM IV, Affiliates IV
• $610,000 — ccrued interest, with total amount of US$610,000, into 8,322 shares, 211 shares and 3,65
• $2,500,000 — lent loans with an aggregate amount of $2,500,000 to the Company. The loans did not bear
• $0.32 — Series B Preferred Shares”), at US$0.32 per share with total consideration of U
• $2,000,000 — per share with total consideration of US$2,000,000. On the same day, DCM IV, Affiliates IV
• $12.25 — ordinary shares, at a purchase price of $12.25 per Class A ordinary share, for an aggr
• $9,999,675 — are, for an aggregate purchase price of $9,999,675. On March 24, 2023 DCM IX purchased 52
• $5.2475 — 7 Class A ordinary shares at a price of $5.2475 per share, or $297,754.30 in the aggreg
• $297,754.30 — res at a price of $5.2475 per share, or $297,754.30 in the aggregate, in an open market pur
• $5.3691 — 2 Class A ordinary shares at a price of $5.3691 per share, or $145,568.19 in the aggreg
• $145,568.19 — res at a price of $5.3691 per share, or $145,568.19 in the aggregate, in an open market pur
• $5.5298 — 4 Class A ordinary shares at a price of $5.5298 per share, or $11,678.90 in the aggrega

Filing Documents

• tm2415483d1_sc13da.htm (SC 13D/A) — 181KB
• 0001104659-24-064861.txt ( ) — 183KB

SECURITY AND ISSUER

ITEM 1. SECURITY AND ISSUER . This Amendment No. 4 (“Amendment No. 4”) amends and restates the Schedule 13D that was originally filed on August 18, 2022 as amended by Amendment No. 1 filed on June 6, 2023, Amendment No. 2 filed on December 29, 2023 and Amendment No. 3 filed on May 22, 2024 (the “Original Schedule 13D”). This Amendment No. 4 relates to the Class A ordinary shares, par value $0.05 per share (the “Ordinary Shares”), of GigaCloud Technology Inc., a Cayman Islands exempted corporation (the “Company”), and the acquisition of 353,435 Ordinary Shares by certain of the Reporting Persons. The Company’s principal executive offices are located at Unit A, 12/F, Shun Ho Tower, 24-30 Ice House Street, Central, Hong Kong. Information given in response to each item shall be deemed incorporated by reference in all other items, as applicable. Capitalized terms not defined in this Amendment No. 4 have the meanings ascribed to them in the Original Schedule 13D.

IDENTITY AND BACKGROUND

ITEM 2. IDENTITY AND BACKGROUND. (a-c, f) This Amendment No. 4 is being filed on behalf of: (i) DCM IV, L.P., a Cayman Islands exempted limited partnership (“DCM IV”), (ii) DCM Affiliates Fund IV, L.P., a Cayman Islands exempted limited partnership (“Affiliates IV”), (iii) DCM IX, L.P., a Cayman Islands exempted limited partnership (“DCM IX”), (iv) DCM Affiliates Fund IX, L.P., a Cayman Islands exempted limited partnership (“Affiliates IX”), (v) DCM Investment Management IV, L.P., a Cayman Islands exempted limited partnership (“DGP IV”), (vi) DCM Investment Management IX, L.P., a Cayman Islands exempted limited partnership (“DGP IX”), (vii) DCM International IV, Ltd., a Cayman Islands exempted company (“UGP IV”), (viii) DCM International IX, Ltd., a Cayman Islands exempted company (“UGP IX”),and (ix) F. Hurst Lin (“Lin”), a citizen of the United States, and (x) Matthew C. Bonner (“Bonner”), a citizen of the United States, (the foregoing entities and individuals are collectively referred to as the “Reporting Persons”). DCM IV, Affiliates IV, DCM IX and Affiliates IX are venture capital funds. DGP IV is the general partner of each of DCM IV and Affiliates IV and UGP IV is the general partner of DGP IV. DGP IX is the general partner of each of DCM IX and Affiliates IX and UGP IX is the general partner of DGP IX. Lin and Bonner are the directors of each of UGP IV and UGP IX (collectively, the “Directors”). The principal business office of the Reporting Persons is 2420 Sand Hill Road, Suite 200, Menlo Park, California 94025. (d) None of the Reporting Persons, individually or collectively, has, during the last five years, been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors). (e) None of the Reporting Persons has, during the last five years, been a party to a civil proceeding of a judi

SOURCE AND AMOUNT OF FUNDS OR

ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION. The information set forth in Item 4 hereof is hereby incorporated by reference into this Item 3, as applicable. In September 2006, DCM IV and Affiliates IV (along with DT Ventures China Fund II, L.P. (“DT”)) lent loans with an aggregate amount of $600,000 to the Company. The loans assumed an interest rate of 7.04% per annum. In November 2006, DCM IV, Affiliates IV and DT respectively, entered into a Share Subscription Agreement with the Company to subscribe for 83,477 shares, 2,123 shares and 36,400 shares of Series A Convertible Preferred Shares (in aggregate of 122,000 shares, “Series A Preferred Shares”), at US$50 per share with total cash consideration of US$6,100,000. On the same day, DCM IV, Affiliates IV and DT converted the loans and accrued interest, with total amount of US$610,000, into 8,322 shares, 211 shares and 3,657 shares of Series A Preferred Shares, respectively, (12,190 shares in aggregate), at US$50 per share. All of the preferred shares held by DCM IV and Affiliates IV were converted, in connection with the Company’s initial public offering on August 18, 2022, as Class A ordinary shares on the basis of one preferred share for each Class A ordinary share. CUSIP NO. G38644 103 13D Page 13 of 19 In February 2009, DCM IV and Affiliates IV (along with DT) lent loans with an aggregate amount of $2,500,000 to the Company. The loans did not bear an interest rate. In February 2013, DCM IV, Affiliates IV and DT respectively entered into a Share Subscription Agreement with the Company to subscribe for to 4,462,264, 113,478 and 1,708,431 of Series B Convertible Preferred Shares (in aggregate of 6,284,173 shares, “Series B Preferred Shares”), at US$0.32 per share with total consideration of US$2,000,000. On the same day, DCM IV, Affiliates IV and DT converted the loans with total amount of US$2,500,000 into 5,373,699 shares, 136,656 shares and 2,344

View Full Filing

View this SC 13D/A filing on SEC EDGAR