Shasta Ventures II Amends Stake in Nextdoor Holdings
Ticker: NXDR · Form: SC 13D/A · Filed: Aug 28, 2024 · CIK: 1846069
| Field | Detail |
|---|---|
| Company | Nextdoor Holdings, Inc. (NXDR) |
| Form Type | SC 13D/A |
| Filed Date | Aug 28, 2024 |
| Risk Level | medium |
| Pages | 7 |
| Reading Time | 8 min |
| Key Dollar Amounts | $0.0001 |
| Sentiment | neutral |
Sentiment: neutral
Topics: sec-filing, schedule-13d, ownership-change
Related Tickers: ND
TL;DR
Shasta Ventures II updated its 13D filing for Nextdoor (ND), check for changes in ownership.
AI Summary
Shasta Ventures II, L.P. filed an amendment (No. 4) to its Schedule 13D on August 28, 2024, regarding Nextdoor Holdings, Inc. The filing indicates a change in the date as of which the information is reported to August 26, 2024. Shasta Ventures II, L.P. is a significant holder of Nextdoor's Class A common stock.
Why It Matters
This amendment signals potential shifts in the holdings or strategy of a major investor in Nextdoor, which could influence the company's stock performance.
Risk Assessment
Risk Level: medium — Schedule 13D filings often indicate significant investor activity, which can lead to price volatility.
Key Numbers
- 4 — Amendment Number (Indicates this is the fourth update to the filing.)
- 20240828 — Filing Date (Date the amendment was submitted to the SEC.)
- 20240826 — Date as of Change (The effective date of the information reported in the amendment.)
Key Players & Entities
- Shasta Ventures II, L.P. (company) — Filing entity
- Nextdoor Holdings, Inc. (company) — Subject company
- Avery Cannon (person) — Authorized to receive notices
- Khosla Ventures Acquisition Co. II (company) — Former company name
FAQ
What specific changes in holdings or intentions are detailed in this amendment?
The provided text is a header and does not detail the specific changes in holdings or intentions; it only indicates an amendment to the Schedule 13D.
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.
Who is Shasta Ventures II, L.P. in relation to Nextdoor Holdings, Inc.?
Shasta Ventures II, L.P. is a significant holder of Nextdoor Holdings, Inc.'s Class A common stock, as evidenced by this Schedule 13D filing.
What does 'Amendment No. 4' signify?
It signifies that this is the fourth time the original Schedule 13D filing has been amended by Shasta Ventures II, L.P.
What is the significance of the 'Date as of Change' being August 26, 2024?
This date indicates the point in time to which the information presented in this amendment is current.
Filing Stats: 1,956 words · 8 min read · ~7 pages · Grade level 10.2 · Accepted 2024-08-28 17:11:09
Key Financial Figures
- $0.0001 — (Name of Issuer) Class A common stock, $0.0001 par value (Title of Class of Securiti
Filing Documents
- tm2422948d1_sc13da.htm (SC 13D/A) — 64KB
- 0001104659-24-094067.txt ( ) — 65KB
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 August 26, 2024, Shasta Ventures II made a pro rata in-kind distribution for no additional consideration of an aggregate of 5,000,000 shares of Class B common stock to its general partner and limited partners. Of the shares distributed by Shasta Ventures II, SVII GP received 1,040,000 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 August 26, 2024, SVII GP made a further pro rata in-kind distribution for no additional consideration of 1,015,000 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 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) 8,360,232 8,360,232 8,360,232 8,360,232 2.2 % 4.1 % SVII GP (1) (2) 95,628 8,455,860 8,455,860 8,455,860 2.2 % 4.1 % (1) Includes shares of Class A common stock issuable upon conversion of 8,360,232 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 95,628 shares of Class A common stock held by SVII GP. (3) Calculations of the percentage of combined common stock beneficially owned is based on 379,908,412 shares of common stock (187,941,328 shares of Class A common stock and 191,967,084 shares of Class B common stock) issued and outstanding as of August 5, 2024, as disclosed in the Issuer’s Quarterly Report on Form 10-Q filed with the SEC on August 7, 2024. Calculations of the percentage of the shares of Class A common stock beneficially owned is based on 187,941,328 shares of Class A common stock, as adjusted to reflect the conversions of Class B common stock by Shasta Ventures II subsequent to August 5, 2024 (including the conversion described herein) 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 since August 12, 2024, the date as of which beneficial ownership information wa