Volition Capital Amends Grove Collaborative Stake

TL;DR

Volition Capital just updated their Grove Collaborative stake filing. Watch this space.

AI Summary

Volition Capital Fund IV, L.P. and Lawrence Cheng have filed an amendment (No. 2) to their Schedule 13D concerning Grove Collaborative Holdings, Inc. The filing, dated September 24, 2024, indicates a change in their beneficial ownership of the company's Class A Common Stock. Specific details regarding the exact percentage or number of shares changed are not provided in this excerpt.

Why It Matters

This filing signals a potential shift in significant shareholder interest in Grove Collaborative, which could influence the company's stock performance and strategic direction.

Risk Assessment

Risk Level: medium — Changes in beneficial ownership by significant investors can indicate shifts in confidence or strategy, potentially impacting stock price.

Key Players & Entities

• Volition Capital Fund IV, L.P. (company) — Filing entity
• Lawrence Cheng (person) — Filing entity group member
• Grove Collaborative Holdings, Inc. (company) — Subject company
• Volition Capital Advisors IV, LLC (company) — Filing entity
• Mike Wilkens (person) — Contact person for Volition Capital LLC

FAQ

Key Financial Figures

• $0.0001 — suer) Class A Common Stock, par value $0.0001 per share (Title of Class of Securiti
• $15,000,000 — A Preferred Stock) in exchange for (i) $15,000,000 in cash paid to the Issuer (the Cash Pu
• $1,000.00 — d Stock has a liquidation preference of $1,000.00 per share (the Liquidation Preference).
• $1.9328 — es A Preferred Stock shall initially be $1.9328 (as adjusted for stock splits, combinat
• $2.11 — r shares of Series A Preferred Stock of $2.11 per share was not adjusted in connectio
• $2,500,000 — ) the issuance of up to an aggregate of $2,500,000 of indebtedness or (2) trade payables i

Filing Documents

• d895805dsc13da.htm (SC 13D/A) — 80KB
• 0001193125-24-224843.txt ( ) — 82KB

of the Original Schedule 13D is amended and supplemented as follows

Item 3 of the Original Schedule 13D is amended and supplemented as follows: On September 20, 2024 (the Closing Date), the Issuer entered into a Subscription Agreement (the Subscription Agreement) with Volition Fund IV, pursuant to which the Issuer issued and sold to Volition Fund IV, 15,000 shares of the Issuers Series A Convertible Preferred Stock, par value $0.0001 per share (the Series A Preferred Stock) in exchange for (i) $15,000,000 in cash paid to the Issuer (the Cash Purchase Price), (ii) the forfeiture and termination of all existing warrants to purchase, in aggregate, 1,600,683 shares of the Issuers Class A Common Stock held by Volition Fund IV (the Cancellation), and (iii) the modification of certain terms of the Issuers existing Series A Convertible Preferred Stock, par value $0.0001 per share (the Series A Preferred Stock and together with the Series A Preferred Stock, the Preferred Stock), held by Volition Fund IV (the Series A Modification and together with the Cancellation and the Cash Purchase Price, the Purchase Price), all on the terms and subject to the conditions set forth in the Subscription Agreement (the foregoing transaction, the 2024 Private Placement). Preferred Stock In connection with the closing of the 2024 Private Placement, the Issuer also filed the Amended and Restated Certificate of Designation of Series A Preferred Stock (the Series A Certificate of Designation) with the Secretary of State of the State of Delaware on the Closing Date setting forth the respective terms, rights, obligations and preferences of the Series A Preferred Stock and Series A Preferred Stock. Ranking and Dividends The Series A Preferred Stock shall rank pari passu with the existing Series A Preferred Stock and prior and superior to all of the Class A Common Stock, Class B common stock, par value $0.0001 per share (the Class B Common Stock and collectively with the Class A Common Stock, the Common Stock), and any other capital stock of the Issuer. Th

SIGNATURES

SIGNATURES After reasonable inquiry and to the best of its knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Dated: September 24, 2024 VOLITION CAPITAL FUND IV, L.P. By: Volition Capital Advisors IV, LLC Its: General Partner By: /s/ Lawrence Cheng Lawrence Cheng, Managing Member VOLITION CAPITAL ADVISORS IV, LLC By: /s/ Lawrence Cheng Lawrence Cheng, Managing Member /s/ Lawrence Cheng Lawrence Cheng

View Full Filing

View this SC 13D/A filing on SEC EDGAR