South Lake One LLC Files SC 13D/A for Rani Therapeutics

TL;DR

South Lake One LLC updated its Rani Therapeutics stake filing on 10/17/24.

AI Summary

South Lake One LLC, through an amendment filed on October 17, 2024, has updated its Schedule 13D/A regarding Rani Therapeutics Holdings, Inc. The filing indicates a change in beneficial ownership, with South Lake One LLC being the reporting entity. The company's principal executive offices are located at 2051 Ringwood Avenue, San Jose, CA 95131.

Why It Matters

This filing signifies a potential shift in control or significant stakeholding in Rani Therapeutics, which could influence the company's strategic direction and stock performance.

Risk Assessment

Risk Level: medium — Schedule 13D/A filings often indicate significant changes in ownership, which can lead to increased volatility and uncertainty for investors.

Key Numbers

• 20241017 — Filing Date (Date of the Schedule 13D/A amendment)

Key Players & Entities

• South Lake One LLC (company) — Reporting entity for Schedule 13D/A
• Rani Therapeutics Holdings, Inc. (company) — Subject company of the filing
• Luis Felipe Correa González (person) — Authorized contact for South Lake One LLC

FAQ

Key Financial Figures

• $0.0001 — suer) Class A Common Stock, par value $0.0001 per share (Title of Class of Securiti
• $10.1 million — n aggregate sale price of approximately $10.1 million through multiple open-market sales made
• $2.6484 — ler at a weighted average sale price of $2.6484 per share of Class A Common Stock. Thes
• $10.1 million — n aggregate sale price of approximately $10.1 million through multiple open-market sales made

Filing Documents

• tm2426414d1_sc13da.htm (SC 13D/A) — 63KB
• tm2426414d1_ex99-1.htm (EX-99.1) — 12KB
• 0001104659-24-109546.txt ( ) — 77KB

Source and Amount of Funds or Other Consideration

Item 3. Source and Amount of Funds or Other Consideration. Since the Prior 13D Filings, on October 15, 2024, South Lake One sold an aggregate of 3,829,360 shares of Class A Common Stock for an aggregate sale price of approximately $10.1 million through multiple open-market sales made through a broker-dealer at a weighted average sale price of $2.6484 per share of Class A Common Stock. These sales were timely reported on a Form 4 filed with the SEC.

Purpose of the Transaction

Item 4. Purpose of the Transaction. The information contained above in Item 3 of this Amendment No. 4 is incorporated herein by reference. The Reporting Persons acquired and hold the shares of Class A Common Stock reported herein for investment purposes. The Reporting Persons intend to review their investment on a regular basis and, as a result thereof, may at any time or from time to time determine to, directly or indirectly (a) acquire additional securities of the Issuer, through open market purchases, privately negotiated transactions or otherwise, (b) dispose of all or a portion of the securities of the Issuer owned by it in the open market, in privately negotiated transactions or otherwise, (c) enter into privately negotiated derivative transactions with institutional counterparties to hedge the market risk of some or all of its positions in the securities of the Issuer or (d) take any other available course of action, which could involve one or more of the types of transactions or have one or more of the results described in clauses (a) through (j) of Item 4 of Schedule 13D. Any such acquisition or disposition or other transaction would be made in compliance with all applicable laws and regulations. Notwithstanding anything contained herein, the Reporting Persons specifically reserve the right to change their intention with respect to any or all of such matters. In reaching any decision as to its course of action (as well as to the specific elements thereof), the Reporting Persons currently expect that it would take into consideration a variety of factors, including, but not limited to, the following: (i) the Issuer’s business and prospects; (ii) other developments concerning the Issuer and its businesses generally; (iii) other business opportunities available to the Reporting Persons; (iv) changes in law and government regulations; (v) general economic conditions; and (vi) financial and stock market conditions, including the market price of the secur

Interest in Securities of the Issuer

Item 5. Interest in Securities of the Issuer. (a) – (b) South Lake Management indirectly holds an aggregate of 8,302,194 shares of Class A Common Stock of the Issuer. Each share of Class A Common Stock is entitled to one vote. South Lake Management beneficially owns 28.2% of the outstanding Class A Common Stock of the Issuer. South Cone indirectly holds an aggregate of 8,302,194 shares of Class A Common Stock of the Issuer. Each share of Class A Common Stock is entitled to one vote. South Cone beneficially owns 28.2% of the outstanding Class A Common Stock of the Issuer. South Lake One directly holds an aggregate of 8,302,194 shares of Class A Common Stock of the Issuer. Each share of Class A Common Stock is entitled to one vote. South Lake One directly owns 28.2% of the outstanding Class A Common Stock of the Issuer. South Lake Management, through South Cone, indirectly controls South Lake One, which has sole voting power and sole dispositive power with respect to 8,302,194 shares of Class A Common Stock of the Issuer held directly by it. South Lake One is wholly owned by South Cone, which is controlled by its general partner, South Lake Management, which is controlled by its Board of Managers. The shares of Class A Common Stock owned by the Reporting Persons as a percentage of the outstanding shares of Class A Common Stock of the Issuer presented in this Amendment No. 4 is based on 29,489,484 shares of Class A Common Stock of the Issuer issued and outstanding as October 15, 2024, as reported by the Issuer on a prospectus supplement, dated October 15, 2024, filed with the SEC on October 16, 2024. (c) On October 15, 2024, South Lake One sold an aggregate of 3,829,360 shares of Class A Common Stock for an aggregate sale price of approximately $10.1 million through multiple open-market sales made through a broker-dealer at a weighted average sale price of $2.6484 per share of Class A Common Stock. These sales were timely reported on a Form 4 filed with

Materials to be Filed as Exhibits

Item 7. Materials to be Filed as Exhibits. Exhibit 99.1 — Joint Filing Agreement, dated October 17, 2024. SIGNATURE After reasonable inquiry and to the best of each of the Prior Reporting Person’s knowledge and belief, each of the undersigned certifies that the information set forth in this statement is true, complete and correct. Dated: October 17, 2024 South Lake Management LLC By: /s/ Martín Abraham Guiloff Salvador Name: Martín Abraham Guiloff Salvador Title: Manager By: /s/ Luis Felipe Correa González Name: Luis Felipe Correa González Title: Manager South Cone Investments Limited Partnership By South Lake Management LLC, as General Partner By: /s/ Martín Abraham Guiloff Salvador Name: Martín Abraham Guiloff Salvador Title: Manager By: /s/ Luis Felipe Correa González Name: Luis Felipe Correa González Title: Manager South Lake One LLC By: /s/ Martín Abraham Guiloff Salvador Name: Martín Abraham Guiloff Salvador Title: Manager By: /s/ Luis Felipe Correa González Name: Luis Felipe Correa González Title: Manager

View Full Filing

View this SC 13D/A filing on SEC EDGAR