Shasta Ventures II Amends Stake in Nextdoor Holdings
Ticker: NXDR · Form: SC 13D/A · Filed: May 30, 2024 · CIK: 1846069
| Field | Detail |
|---|---|
| Company | Nextdoor Holdings, Inc. (NXDR) |
| Form Type | SC 13D/A |
| Filed Date | May 30, 2024 |
| Risk Level | medium |
| Pages | 6 |
| Reading Time | 7 min |
| Key Dollar Amounts | $0.0001 |
| Sentiment | neutral |
Sentiment: neutral
Topics: schedule-13d, amendment, shareholder-activity
Related Tickers: N D
TL;DR
Shasta Ventures II just updated their Nextdoor Holdings stake. Watch this space.
AI Summary
Shasta Ventures II, L.P. filed an amendment (No. 1) to its Schedule 13D on May 30, 2024, regarding Nextdoor Holdings, Inc. The filing indicates a change in the beneficial ownership of the company's Class A common stock. Shasta Ventures II, L.P. is a significant holder, and this amendment likely reflects adjustments to their holdings or reporting.
Why It Matters
This filing signals a potential shift in control or strategy for Nextdoor Holdings, as a major investor has updated its ownership disclosure.
Risk Assessment
Risk Level: medium — Amendments to Schedule 13D filings can indicate changes in significant shareholder intentions, potentially impacting stock price and company direction.
Key Players & Entities
- Shasta Ventures II, L.P. (company) — Filing entity
- Nextdoor Holdings, Inc. (company) — Subject company
- Avery Cannon (person) — Authorized to receive notices
- Shasta Ventures (company) — Associated with Avery Cannon
- Khosla Ventures Acquisition Co. II (company) — Former company name
FAQ
What specific changes in beneficial ownership are reported in this amendment?
The filing is an amendment to a 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.
When was the previous Schedule 13D filing made by Shasta Ventures II, L.P. for Nextdoor Holdings, Inc.?
The filing is an amendment (No. 1), implying a previous filing was made, but the date of the original filing is not specified in the provided text.
What is the business address of Shasta Ventures II, L.P.?
The business address for Shasta Ventures II, L.P. is 2440 Sand Hill Road, Suite 300, Menlo Park, CA 94025.
Who is authorized to receive notices and communications for this filing?
Avery Cannon, Chief Financial Officer, c/o Shasta Ventures, 3130 Alpine Rd, Ste 288-446, Portola Valley, CA 94028 is authorized to receive notices and communications.
What is the CUSIP number for Nextdoor Holdings, Inc. Class A common stock?
The CUSIP number for Nextdoor Holdings, Inc. Class A common stock is 65345M108.
Filing Stats: 1,851 words · 7 min read · ~6 pages · Grade level 9.8 · Accepted 2024-05-30 18:00:28
Key Financial Figures
- $0.0001 — (Name of Issuer) Class A common stock, $0.0001 par value (Title of Class of Securiti
Filing Documents
- tm2416030d1_sc13da.htm (SC 13D/A) — 64KB
- 0001104659-24-066754.txt ( ) — 66KB
Purpose of Transaction
Item 4. Purpose of Transaction
of the Original Schedule 13D is hereby
Item 4 of the Original Schedule 13D is hereby amended and supplemented by adding the following paragraph at the end of Item 4: On May 28, 2024, Shasta Ventures II made a pro rata in-kind distribution for no additional consideration of an aggregate of 4,000,000 shares of Class B common stock to its general partner and limited partners. Of the shares distributed by Shasta Ventures II, SVII GP received 832,000 shares. Pursuant to the applicble provisions of the Issuer’s certificate of incorporation, the distributed shares automatically converted to Class A common stock upon transfer. On May 28, 2024, SVII GP made a further pro rata in-kind distribution for no additional consideration of 812,000 shares received in the distribution by Shasta Ventures II to its members.
Interest in Securities of the Issuer
Item 5. Interest in Securities of the Issuer (a) – (b).The following information with respect to the ownership of the Class A common stock of the Issuer by the persons filing this statement on Schedule 13D is provided as of May 30, 2024: Reporting Persons Shares Held Directly Sole Voting Power Shared Voting Power Sole Dispositive Power Shared Dispositive Power Beneficial Percentage of Combined Common Stock (3) Percentage of Class A Common Stock (3) Shasta Ventures II (1) 23,360,232 23,360,232 23,360,232 23,360,232 6.0 % 10.8 % SVII GP (1) (2) 20,000 23,380,232 23,380,232 23,380,232 6.0 % 10.8 % (1) Includes shares of Class A common stock issuable upon conversion of 23,360,232 shares of Class B common stock held by Shasta Ventures II. SVII GP serves as the sole general partner of Shasta Ventures II and, as such, SVII GP possesses voting and dispositive power over the shares held by Shasta Ventures II. (2) Includes 20,000 shares of Class A common stock held by SVII GP. (3) Calculations of the percentage of combined common stock beneficially owned is based on 390,281,701 shares of common stock (189,105,696 shares of Class A common stock and 201,176,005 shares of Class B common stock) issued and outstanding as of May 3, 2024, as disclosed in the Issuer’s Quarterly Report on Form 10-Q filed with the SEC on May 7, 2024. Calculations of the percentage of the shares of Class A common stock beneficially owned is based on 189,105,696 shares of Class A common stock, as adjusted to reflect the conversion described in Item 4 and as further adjusted pursuant to SEC Rule 13d-3. (c) Except as set forth herein, none of the Reporting Persons has effected any transactions in shares of the Issuer’s Class A common stock during the last 60 days. (d) No other person is known to have the right to receive or the power to direct the receipt of dividends from, or any proceeds from the sale of, th