WestCapSkillz Amends Skillz Inc. Stake Filing

TL;DR

WestCapSkillz updated their Skillz stake filing on 6/11/24.

AI Summary

On June 11, 2024, WestCapSkillz 2020-A, LLC filed an amendment to its Schedule 13D regarding Skillz Inc. The filing indicates a change in beneficial ownership, with WestCapSkillz 2020-A, LLC now holding a significant stake in the company. This amendment is part of ongoing reporting requirements for significant shareholders.

Why It Matters

This filing signals a potential shift in the shareholder landscape of Skillz Inc., which could influence future corporate actions or strategies.

Risk Assessment

Risk Level: medium — Amendments to Schedule 13D filings can indicate changes in a major shareholder's intentions or holdings, which may impact the stock price.

Key Players & Entities

• WestCapSkillz 2020-A, LLC (company) — Filing entity
• Skillz Inc. (company) — Subject company
• Laurence A. Tosi (person) — Group member
• WestCap Management, LLC (company) — Group member

FAQ

Key Financial Figures

• $0.0001 — suer) Class A Common Stock, par value $0.0001 per share (Title of Class of Securiti
• $23.34 — e March 2021 Underwriters at a price of $23.34 per share. In connection with the Marc
• $11.5857 — orting Persons on September 9, 2021 was $11.5857. (2) Price Per Share is the volume we
• $11.5025 — th. Actual prices per share ranged from $11.5025-$11.5857. The Reporting Persons hereby

Filing Documents

• d799366dsc13da.htm (SC 13D/A) — 172KB
• 0001193125-24-158787.txt ( ) — 174KB

of the Statement is hereby amended and supplemented as follows

Item 5 of the Statement is hereby amended and supplemented as follows: (a), (b) On March 23, 2021, the WestCap Stockholders, pursuant to the March 2021 Underwriting Agreement, sold 4,103,790 shares of Class A Common Stock to the Underwriters at a price of $23.34 per share in connection with the Secondary Offering as set forth in the table below: Closing Date: WC Skillz 2020 Co-Invest WC Skillz WC Skillz 2020-A WC Skillz 2020-A1 WC Skillz 2020 March 23, 2021 1,476,873 1,339,718 969,832 231,307 86,060 The following disclosure assumes that there are 339,335,182 shares of Class A Common Stock outstanding, as of September 10, 2021 as set forth in the Issuers Form 10-Q for the quarterly period ended September 30, 2021 filed with the U.S. Securities and Exchange Commission ( SEC ) on November 9, 2021. Pursuant to Rule 13d-3 of the rules and regulations promulgated by the SEC pursuant to the Securities and Exchange Act of 1934, as amended, as of the settlement on September 14, 2021 of trades entered on September 10, 2021, the Reporting Persons were deemed to beneficially own 16,544,289 shares of Class A Common Stock, representing 4.88% of the outstanding shares of Class A Common Stock. As of December 20, 2022, the Reporting Persons were deemed to beneficially own 0 shares of Class A Common Stock, representing 0% of shares of the outstanding Class A Common Stock. (c) None of the Reporting Persons or persons listed on Schedule I attached to the Statement has effected any transactions in the shares of Class A Common Stock during the past 60 days. Around September 9, 2021 and September 10, 2021, the WestCap Stockholders sold, respectively, the following shares of Class A Common Stock on the open market as set forth in the table below: Trade Date: WC Skillz 2020 Co- Invest WC Skillz WC Skillz 2020-A WC Skillz 2020-A1 WC Skillz 2020 Price Per Share: Range of Sales Prices: September 9, 2021 0 130,581 93,525 22,305 8,299

View Full Filing

View this SC 13D/A filing on SEC EDGAR