Item 4. Purpose of Transaction.
This Amendment amends and restates the final two paragraphs of Item 4 of the Statement in their entirety as follows:
On March 18, 2021, WestCap Skillz Co-Invest, LLC, WestCap Skillz, LLC, WestCap Skillz 2020, LLC,
WestCap Skillz 2020-A, LLC and WestCap Skillz 2020-A1, LLC (the WestCap Stockholders) entered into an underwriting agreement (the March 2021
Underwriting Agreement), with the Issuer, the other selling stockholders named on Schedule II attached thereto (such selling stockholders collectively with the WestCap Stockholders, the March 2021 Selling Stockholders)
and the underwriters named therein (the March 2021 Underwriters) in connection with a registered secondary offering of 32,000,000 Class A Common Stock by the Issuer and the March 2021 Selling Stockholders (the
Secondary Offering). Pursuant to the March 2021 Underwriting Agreement, the WestCap Stockholders agreed to sell up to 4,103,880 shares of Class A Common Stock to the March 2021 Underwriters at a price of $23.34 per share.
In connection with the March 2021 Underwriting Agreement, the March 2021 Selling Stockholders entered into a lock-up agreement (the March 2021 Lock-Up Agreement), pursuant to which the March 2021 Selling Stockholders agreed not to dispose of any shares of the
Issuers Class A Common Stock, Class B Common Stock, or securities convertible into or exchangeable for shares of such Common Stock from March 18, 2021 through June 13, 2021, subject to certain exceptions.
The foregoing descriptions of the March 2021 Underwriting Agreement and March 2021 Lock-Up Agreement
do not purport to be complete and is qualified in its entirety by reference to such agreements, which are filed as exhibits hereto and are incorporated by reference herein.
Item 5. Interest in Securities of the Issuer.
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:
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Closing Date: |
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WC Skillz 2020 Co-Invest |
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WC Skillz |
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WC Skillz 2020-A |
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WC Skillz 2020-A1 |
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WC Skillz 2020 |
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March 23, 2021 |
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1,476,873 |
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1,339,718 |
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969,832 |
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231,307 |
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86,060 |
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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:
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Trade Date: |
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WC Skillz 2020 Co- Invest |
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WC Skillz |
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WC Skillz 2020-A |
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WC Skillz 2020-A1 |
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WC Skillz 2020 |
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Price Per Share: |
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Range of Sales Prices: |
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September 9, 2021 |
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0 |
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130,581 |
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93,525 |
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22,305 |
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8,299 |
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$ |
11.5857 |
(1) |
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September 10, 2021 |
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$ |
11.5025- |
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523,315 |
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370,347 |
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265,252 |
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63,263 |
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23,536 |
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$ |
11.56 |
(2) |
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$ |
11.5857 |
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(1) |
Price Per Share for all sales by Reporting Persons on September 9, 2021 was $11.5857.
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