K2 Partners Adjusts LexinFintech Holdings Stake

TL;DR

K2 Partners filed an amendment to their 13D on LexinFintech. Ownership change details unclear from this excerpt.

AI Summary

On April 22, 2024, K2 Partners II L.P. and its affiliates filed an amendment to their Schedule 13D, reporting a change in beneficial ownership of LexinFintech Holdings Ltd. The filing indicates a shift in holdings, though specific new percentages or dollar amounts are not detailed in this excerpt. The group members involved include K2 PARTNERS II GP, L.P., K2 PARTNERS II GP, LLC, K2 PARTNERS II L.P., K2 PARTNERS II LTD, and RUI ZHANG.

Why It Matters

Changes in significant shareholder positions, like this one from K2 Partners, can signal shifts in investor sentiment or strategy towards LexinFintech Holdings Ltd., potentially impacting its stock price.

Risk Assessment

Risk Level: medium — Schedule 13D filings often indicate significant investor activity, which can lead to price volatility.

Key Players & Entities

• LexinFintech Holdings Ltd. (company) — Subject Company
• K2 Partners II L.P. (company) — Filing Group Member
• K2 PARTNERS II GP, L.P. (company) — Filing Group Member
• K2 PARTNERS II GP, LLC (company) — Filing Group Member
• K2 PARTNERS II LTD (company) — Filing Group Member
• RUI ZHANG (person) — Filing Group Member and Contact Person
• KPartners Ltd (company) — Filing Entity

FAQ

Key Financial Figures

• $0.0001 — er) Class A Ordinary Shares, par value $0.0001 (Title of Class of Securities) 52887

Filing Documents

• tm2412352d1_sc13da.htm (SC 13D/A) — 80KB
• 0001104659-24-049606.txt ( ) — 82KB

Security and Issuer

Item 1. Security and Issuer. This Statement on Schedule 13D (this “ Amendment ”) constitutes Amendment No. 5 to the Schedule 13D (the “ Original Schedule 13D ”) filed with the U.S. Securities and Exchange Commission (“ SEC ”) on January 4, 2018, Amendment No. 1 to the Original Schedule 13D filed with the SEC on May 6, 2019 (the “ Amendment No. 1 ”), Amendment No. 2 to the Original Schedule 13D filed with the SEC on December 18, 2020 (the “ Amendment No. 2 ”), Amendment No. 3 to the Original Schedule 13D filed with the SEC on July 12, 2023 (the “ Amendment No. 3 ”) and Amendment No. 4 to the Original Schedule 13D filed with the SEC on October 12, 2023 (the “ Amendment No. 4 ,” together with the Original Schedule 13D, the Amendment No. 1, the Amendment No. 2 and the Amendment No. 3 as the “Original Filing”) by the Reporting Persons with respect to the Class A Ordinary Shares, par value $0.0001 per share (the “ Shares ”), of LexinFintech Holdings Ltd., a company organized under the laws of the Cayman Islands (the “ Company ”), whose principal executive offices are located at 27/F, CES Tower, No. 3099 Keyuan South Road, Nanshan District, Shenzhen 518057, the People’s Republic of China.

Identity and Background

Item 2. Identity and Background

of the Original Filing

Item 2 of the Original Filing is hereby supplemented by the following: (a)-(c), (f) This Schedule 13D is being jointly filed by (i) Rui Zhang, a Singapore citizen, (ii) KPartners Limited, a Cayman Islands company, (iii) K2 Partners II GP, LLC, a Cayman Islands company, (iv) K2 Partners II GP, L.P., a Cayman Islands limited partnership, (v) K2 Partners II L.P., a Cayman Islands limited partnership, and (vi) K2 Partners II Limited, a Hong Kong company (collectively, the “ Reporting Persons ” and each, a “Reporting Persons”). K2 Partners II Limited solely engages in investment holding and is solely owned by K2 Partners II L.P., whose general partner is K2 Partners II GP, L.P. The general partner of K2 Partners II GP, L.P. is K2 Partners II GP, LLC, which is a majority-owned subsidiary of KPartners Limited. Since May 14, 2019, Rui Zhang has been the controlling shareholder and a director of KPartners Limited. The principal business of the Reporting Persons is at Room C, 20/F, Lucky Plaza, 315-321, Lockhart Road, Wan Chai, Hong Kong. (d), (e) During the last five years, none of the Reporting Persons has been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors) or a party to a civil proceeding of a judicial or administrative body of competent jurisdiction or as a result of such proceeding was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws.

Source and Amount of Funds or Other

Item 3. Source and Amount of Funds or Other Considerations.

of the Original Filing

Item 3 of the Original Filing is hereby supplemented by the following: During the period since the filing of the Amendment No. 4, Evergreen Holdings II Limited, a British Virgin Islands company indirectly controlled by Rui Zhang, has disposed of an aggregate of 225,338 Shares on the open market; K2 Partners II GP, L.P. has disposed of an aggregate of 400 Shares on the open market. On January 24, 2024, K2 Partners II Limited disposed of an aggregate of 3,000,000 Shares as in-kind distribution to K2 Partners II L.P. On the same date, K2 Partners II L.P. distributed 12,520 Shares as in-kind distribution to K2 Partners II GP, L.P., 612,000 Shares to Evergreen Holdings II Limited and 2,375,480 Shares to other entities which are unaffiliated with the Reporting Persons. On April 19, 2024, K2 Partners II Limited disposed of an aggregate of 6,000,000 Shares as in-kind distribution to K2 Partners II L.P. On the same date, K2 Partners II L.P. distributed 25,026 Shares as in-kind distribution to K2 Partners II GP, L.P., 1,224,000 Shares to Evergreen Holdings II Limited and 4,750,974 Shares to other entities which are unaffiliated with the Reporting Persons. Following such distributions, the aggregate number of Shares beneficially owned by the Reporting Persons is 25,996,814.

Interest in Securities of the Issuer

Item 5. Interest in Securities of the Issuer.

(a) and (b) of

Item 5(a) and (b) of the Original Filing is hereby amended and restated as follows: (a), (b) Regarding aggregate beneficial ownership, see Row 9 of the cover page of each Reporting Person. Regarding percentage beneficial ownership, see Row 11 of the cover page of each Reporting Person. Regarding sole power to vote Shares, see Row 5 of the cover page of each Reporting Person. Regarding shared power to vote Shares, see Row 6 of the cover page of each Reporting Person. Regarding sole power to dispose of Shares, see Row 7 of the cover page of each Reporting Person. Regarding shared power to dispose of Shares, see Row 8 of the cover page of each Reporting Person. The percentage of shares identified is based on 328,260,411 ordinary shares (being the sum of 256,918,184 Class A Ordinary Shares and 71,342,227 Class B Ordinary Shares) of the Issuer outstanding as of December 31, 2023 as a single class. As of the date hereof, K2 Partners II GP, LLC, K2 Partners II GP, L.P., K2 Partners II L.P., and K2 Partners II Limited have ceased to be the beneficial owner of more than five percent of the Issuer’s outstanding ordinary shares. SIGNATURE After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Dated: April 22, 2024 Rui Zhang /s/ Rui Zhang KPartners Limited By: /s/ Rui Zhang Name: Rui Zhang Title: Director K2 Partners II GP, LLC By: /s/ Rui Zhang Name: Rui Zhang Title: Director SIGNATURE After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Dated: April 22, 2024 K2 Partners II GP, L.P. By: /s/ Rui Zhang Name: Rui Zhang Title: Director, for and on behalf of K2 Partners II GP, LLC, General Partner K2 Partners II L.P. By: /s/ Rui Zhang Name: Rui Zhang Title: For and on behalf of K2 Partners II GP, L.P., General Partner,

View Full Filing

View this SC 13D/A filing on SEC EDGAR