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    SEC Form SC 13D/A filed by Afya Limited (Amendment)

    3/19/24 4:05:51 PM ET
    $AFYA
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    SC 13D/A 1 dp208565_sc13da-25.htm FORM SC 13D/A

    UNITED STATES

    SECURITIES AND EXCHANGE COMMISSION

    Washington, D.C. 20549

    SCHEDULE 13D/A

    Under the Securities Exchange of 1934

    (Amendment No. 25)

     

    Afya Limited
    (Name of Issuer)
     
    Class A Common Shares, par value $0.00005 per share
    (Title of Class of Securities)
     
    G01125106
    (CUSIP Number)
     

    Denise Abel
    Bertelsmann SE & Co. KGaA
    Carl-Bertelsmann-Strasse 270
    33311 Gütersloh, Germany

    with copies to:

    Michael Davis, Esq.
    Davis Polk & Wardwell LLP
    450 Lexington Avenue
    New York, New York 10017

     

    (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

      March 19, 2024 (March 18, 2024)  
      (Date of Event which Requires Filing of this Statement)  

     

    If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.¨

     

    Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See Rule 13d-7 for other parties to whom copies are to be sent.

     

    *The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.

     

    The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of section 18 of the Securities Exchange Act of 1934 (the “Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

     

     

     

     

    CUSIP No. G01125106  

     

    1

    NAME OF REPORTING PERSON

     

    Bertelsmann SE & Co. KGaA

    2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions) (a) ☐
    (b)
    ☒
    3 SEC USE ONLY
    4

    SOURCE OF FUNDS (See Instructions)

     

    WC

    5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) ¨
    6

    CITIZENSHIP OR PLACE OF ORGANIZATION

     

    Germany

    NUMBER OF
    SHARES
    BENEFICIALLY
    OWNED BY EACH
    REPORTING
    PERSON WITH
    7

    SOLE VOTING POWER

     

    —

    8

    SHARED VOTING POWER

     

    45,211,414

    9

    SOLE DISPOSITIVE POWER

     

    45,211,414

    10

    SHARED DISPOSITIVE POWER

     

    —

    11

    AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

     

    45,211,414 (1)

    12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (See Instructions) ¨
    13

    PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

     

    60.10% (2)(3)

    14

    TYPE OF REPORTING PERSON (See Instructions)

     

    CO

    2 

     

    1

    NAME OF REPORTING PERSON

     

    Erste WV Gütersloh GmbH

    2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions) (a) ¨
    (b)
    ☒
    3 SEC USE ONLY
    4

    SOURCE OF FUNDS (See Instructions)

     

    WC

    5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) ¨
    6

    CITIZENSHIP OR PLACE OF ORGANIZATION

     

    Germany

    NUMBER OF
    SHARES
    BENEFICIALLY
    OWNED BY EACH
    REPORTING
    PERSON WITH
    7

    SOLE VOTING POWER

     

    —

    8

    SHARED VOTING POWER

     

    45,211,414

    9

    SOLE DISPOSITIVE POWER

     

    45,211,414

    10

    SHARED DISPOSITIVE POWER

     

    —

    11

    AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

     

    45,211,414 (1)

    12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (See Instructions) ¨
    13

    PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

     

    60.10% (2)(3)

     

    14

    TYPE OF REPORTING PERSON (See Instructions)

     

    CO

     

    (1)Aggregate amount beneficially owned by Bertelsmann SE & Co. KGaA (“Bertelsmann”) and Erste WV Gütersloh GmbH, a wholly-owned direct subsidiary of Bertelsmann (“Erste” and collectively with Bertelsmann, the “Reporting Person”) consists of 29,074,134 Class B common shares and 16,137,280 Class A common shares held of record by the Reporting Person. Each Class B common share held of record by the Reporting Person is convertible into one Class A common share at the option of its holder at any time.

     

    (2)Represents the quotient obtained by dividing (a) the number of Class B common shares and Class A common shares beneficially owned by the Reporting Person as set forth in Row 11 by (b) the sum of (i) 46,146,590 Class A common shares outstanding as of December 31, 2023 as reported by the Issuer in its Current Report on Form 6-K, filed with the Securities and Exchange Commission (the “Commission”) on March 14, 2024 (as reduced by the number of treasury shares as reported therein and as increased by the number of Class B common shares converted to Class A common shares as reported to the Reporting Person by the Issuer on March 18, 2024), and (ii) the aggregate number of Class B common shares beneficially owned by the Reporting Person. The aggregate number of Class B common shares beneficially owned by the Reporting Person as set forth in clauses “(a)” and “(b)” of this footnote are treated as converted into Class A common shares only for the purpose of computing the percentage ownership of the Reporting Person. As of December 31, 2023, the number of Class A common shares outstanding was 44,146,590 and the percentage beneficially owned was 60.52%.

     

    (3)Each Class A common share is entitled to one vote, and each Class B common share is entitled to ten votes. The percentage reported does not reflect the ten for one voting power of the Class B common shares because the Class B common shares are treated as converted into Class A common shares for the purpose of this report.

     

    3 

     

    Explanatory Note

     

    This Amendment No. 25 (the “Amendment”) amends and supplements the Schedule 13D filed by the Reporting Person on August 10, 2021 (the “Original Schedule 13D”, as further amended on March 4, 2022, “Amendment No. 1”, as further amended on April 18, 2022, “Amendment No. 2”, as further amended on April 25, 2022, “Amendment No. 3,” as further amended on May 4, 2022, “Amendment No. 4,” as further amended on May 23, 2022, “Amendment No. 5,” as further amended on May 27, 2022, “Amendment No. 6,” as further amended on August 1, 2022, “Amendment No. 7,” as further amended on August 31, 2022, “Amendment No. 8,” as further amended on September 23, 2022, “Amendment No. 9,” as further amended on October 24, 2022, “Amendment No. 10,” as further amended on November 9, 2022, “Amendment No. 11,” as further amended on November 29, 2022, “Amendment No. 12,” as further amended on December 16, 2022, “Amendment No. 13,” as further amended on December 21, 2022, “Amendment No. 14,” as further amended on January 12, 2023, “Amendment No. 15,” as further amended on February 23, 2023, “Amendment No. 16,” as further amended on March 29, 2023, “Amendment No. 17,” as further amended on May 1, 2023, “Amendment No. 18,” as further amended on June 20, 2023, “Amendment No. 19,” as further amended on July 25, 2023, “Amendment No. 20,” as further amended on September 7, 2023, “Amendment No. 21,” as further amended on October 31, 2023, “Amendment No. 22,” as further amended on December 12, 2023, “Amendment No. 23,” as further amended on February 12, 2024, “Amendment No. 24,” and, as amended and supplemented by this Amendment, the “Schedule 13D”). Except as specifically provided herein, this Amendment does not modify any of the information previously reported on the Original Schedule 13D, Amendment No. 1, Amendment No. 2, Amendment No. 3, Amendment No. 4, Amendment No. 5, Amendment No. 6, Amendment No. 7, Amendment No. 8, Amendment No. 9, Amendment No. 10, Amendment No. 11, Amendment No. 12, Amendment No. 13, Amendment No. 14, Amendment No. 15, Amendment No. 16, Amendment No. 17, Amendment No. 18, Amendment No. 19, Amendment No. 20, Amendment No. 21, Amendment No. 22, Amendment No. 23 or Amendment No. 24. Capitalized terms not otherwise defined in this Amendment shall have the same meanings ascribed thereto in the Original Schedule 13D. This Schedule 13D relates to the Class A common shares, par value $0.00005, of Afya Limited, an exempted liability company incorporated under the laws of the Cayman Islands (the “Issuer”), having its registered offices at Alameda Oscar Niemeyer, No. 119, Salas 502, 504, 1,501 and 1,503, Vila da Serra, Nova Lima, Minas Gerais Brazil.

     

    4 

     

    Item 5. Interest in Securities of the Issuer.

     

    This Amendment No. 25 amends and supplements Item 5 of the Original Schedule 13D (as amended by Amendment No. 1, Amendment No. 2, Amendment No. 3, Amendment No. 4, Amendment No. 5, Amendment No. 7, Amendment No. 8, Amendment No. 9, Amendment No. 10, Amendment No. 11, Amendment No. 12, Amendment No. 14, Amendment No. 15, Amendment No. 16, Amendment No. 17, Amendment No. 18, Amendment No. 19, Amendment No. 20, Amendment No. 21, Amendment No. 22, Amendment No. 23 and Amendment No. 24) as follows:

     

    (a) The information relating to the beneficial ownership of Class A common shares by the Reporting Person as set forth in rows 7 through 13 of the cover pages hereto is incorporated by reference. The Reporting Person is the beneficial owner of 16,137,280 Class A common shares, which represents 34.97% of the Class A common shares outstanding based on 46,146,590 Class A common shares outstanding as of December 31, 2023 as reported by the Issuer in its Current Report on Form 6-K, filed with the Commission on March 14, 2024 (as reduced by the number of treasury shares as reported therein and as increased by the number of Class B common shares converted to Class A common shares as reported to the Reporting Person by the Issuer on March 18, 2024). Except as set forth in this Item 5(a), the Reporting Person does not own beneficially any Class A common shares.

     

    (b) The Reporting Person has shared power to vote and dispose of 16,137,280 Class A common shares.

     

    5 

     

    SIGNATURES

     

    After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

     

    Dated: March 19, 2024  
       
      BERTELSMANN SE & CO. KGAA
       
       
      By:  ppa /s/ Martin Dannhoff
      Name:  Martin Dannhoff
      Title:    SVP Corporate Legal
       

     

      By: ppa /s/ Denise Abel
      Name:  Denise Abel
      Title:    SVP Corporate Legal
       

     

      ERSTE WV GÜTERSLOH GMBH
       
       
      By: /s/ Martin Dannhoff
      Name:  Martin Dannhoff
      Title:    Director

     

      By: /s/ Denise Abel
      Name:  Denise Abel
      Title:    Director

     

     

     

     

     

     

     

     

     

    6 

     

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