SEC Form SC 13D/A filed by F45 Training Holdings Inc. (Amendment)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(Amendment No. 4)*
F45 Training Holdings Inc.
(Name of Issuer)
Common Stock, par value $0.00005 per share
(Title and Class of Securities)
30322L101
(CUSIP Number)
Anthony Pasqua
Kennedy Lewis Management LP
225 Liberty Street, Suite 4210
New York, NY 10281
(212) 782-3480
Daniel I. Fisher
Akin Gump Strauss Hauer & Feld LLP
One Bryant Park
New York, NY 10036
(212) 872-1000
(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)
May 22, 2023
(Date of Event Which Requires Filing of 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 Rule 13d-1(e), Rule 13d-1(f) or Rule 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(b) 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 (“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)
Schedule 13D
CUSIP No. 30322L101
(1) |
Name of Reporting Persons:
Kennedy Lewis Management LP | |||||
(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):
AF | |||||
(5) | Check if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d) or 2(e):
☐ | |||||
(6) | Citizenship or Place of Organization:
Delaware |
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH:
|
(7) | Sole Voting Power
14,061,993 | ||||
(8) | Shared Voting Power
0 | |||||
(9) | Sole Dispositive Power
14,061,993 | |||||
(10) | Shared Dispositive Power
0 |
(11) |
Aggregate Amount Beneficially Owned by Each Reporting Person:
14,061,993 | |||||
(12) | Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions):
☐ | |||||
(13) | Percent of Class Represented by Amount in Row (11):
14.5% | |||||
(14) | Type of Reporting Person (See Instructions):
PN, IA |
Schedule 13D
CUSIP No. 30322L101
(1) |
Name of Reporting Persons:
KLM GP LLC | |||||
(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):
AF | |||||
(5) | Check if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d) or 2(e):
☐ | |||||
(6) | Citizenship or Place of Organization:
Delaware |
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH:
|
(7) | Sole Voting Power
14,061,993 | ||||
(8) | Shared Voting Power
0 | |||||
(9) | Sole Dispositive Power
14,061,993 | |||||
(10) | Shared Dispositive Power
0 |
(11) |
Aggregate Amount Beneficially Owned by Each Reporting Person:
14,061,993 | |||||
(12) | Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions):
☐ | |||||
(13) | Percent of Class Represented by Amount in Row (11):
14.5% | |||||
(14) | Type of Reporting Person (See Instructions):
OO, HC |
Schedule 13D
CUSIP No. 30322L101
(1) |
Name of Reporting Persons:
Kennedy Lewis Investment Management LLC | |||||
(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):
AF | |||||
(5) | Check if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d) or 2(e):
☐ | |||||
(6) | Citizenship or Place of Organization:
Delaware |
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH:
|
(7) | Sole Voting Power
14,061,993 | ||||
(8) | Shared Voting Power
0 | |||||
(9) | Sole Dispositive Power
14,061,993 | |||||
(10) | Shared Dispositive Power
0 |
(11) |
Aggregate Amount Beneficially Owned by Each Reporting Person:
14,061,993 | |||||
(12) | Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions):
☐ | |||||
(13) | Percent of Class Represented by Amount in Row (11):
14.5% | |||||
(14) | Type of Reporting Person (See Instructions):
OO, HC |
Schedule 13D
CUSIP No. 30322L101
(1) |
Name of Reporting Persons:
Kennedy Lewis Investment Holdings LLC | |||||
(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):
AF | |||||
(5) | Check if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d) or 2(e):
☐ | |||||
(6) | Citizenship or Place of Organization:
Delaware |
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH:
|
(7) | Sole Voting Power
2,109,759 | ||||
(8) | Shared Voting Power
0 | |||||
(9) | Sole Dispositive Power
2,109,759 | |||||
(10) | Shared Dispositive Power
0 |
(11) |
Aggregate Amount Beneficially Owned by Each Reporting Person:
2,109,759 | |||||
(12) | Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions):
☐ | |||||
(13) | Percent of Class Represented by Amount in Row (11):
2.2% | |||||
(14) | Type of Reporting Person (See Instructions):
OO |
Schedule 13D
CUSIP No. 30322L101
(1) |
Name of Reporting Persons:
Kennedy Lewis Investment Holdings II LLC | |||||
(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):
AF | |||||
(5) | Check if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d) or 2(e):
☐ | |||||
(6) | Citizenship or Place of Organization:
Delaware |
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH:
|
(7) | Sole Voting Power
11,952,234 | ||||
(8) | Shared Voting Power
0 | |||||
(9) | Sole Dispositive Power
11,952,234 | |||||
(10) | Shared Dispositive Power
0 |
(11) |
Aggregate Amount Beneficially Owned by Each Reporting Person:
11,952,234 | |||||
(12) | Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions):
☐ | |||||
(13) | Percent of Class Represented by Amount in Row (11):
12.3% | |||||
(14) | Type of Reporting Person (See Instructions):
OO |
Schedule 13D
CUSIP No. 30322L101
(1) |
Name of Reporting Persons:
Kennedy Lewis Capital Partners Master Fund LP | |||||
(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 if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d) or 2(e):
☐ | |||||
(6) | Citizenship or Place of Organization:
Cayman Islands |
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH:
|
(7) | Sole Voting Power
2,109,759 | ||||
(8) | Shared Voting Power
0 | |||||
(9) | Sole Dispositive Power
2,109,759 | |||||
(10) | Shared Dispositive Power
0 |
(11) |
Aggregate Amount Beneficially Owned by Each Reporting Person:
2,109,759 | |||||
(12) | Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions):
☐ | |||||
(13) | Percent of Class Represented by Amount in Row (11):
2.2% | |||||
(14) | Type of Reporting Person (See Instructions):
PN |
Schedule 13D
CUSIP No. 30322L101
(1) |
Name of Reporting Persons:
Kennedy Lewis GP LLC | |||||
(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):
AF | |||||
(5) | Check if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d) or 2(e):
☐ | |||||
(6) | Citizenship or Place of Organization:
Delaware |
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH:
|
(7) | Sole Voting Power
2,109,759 | ||||
(8) | Shared Voting Power
0 | |||||
(9) | Sole Dispositive Power
2,109,759 | |||||
(10) | Shared Dispositive Power
0 |
(11) |
Aggregate Amount Beneficially Owned by Each Reporting Person:
2,109,759 | |||||
(12) | Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions):
☐ | |||||
(13) | Percent of Class Represented by Amount in Row (11):
2.2% | |||||
(14) | Type of Reporting Person (See Instructions):
OO |
Schedule 13D
CUSIP No. 30322L101
(1) |
Name of Reporting Persons:
Kennedy Lewis Capital Partners Master Fund II LP | |||||
(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 if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d) or 2(e):
☐ | |||||
(6) | Citizenship or Place of Organization:
Cayman Islands |
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH:
|
(7) | Sole Voting Power
9,728,141 | ||||
(8) | Shared Voting Power
0 | |||||
(9) | Sole Dispositive Power
9,728,141 | |||||
(10) | Shared Dispositive Power
0 |
(11) |
Aggregate Amount Beneficially Owned by Each Reporting Person:
9,728,141 | |||||
(12) | Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions):
☐ | |||||
(13) | Percent of Class Represented by Amount in Row (11):
10.0% | |||||
(14) | Type of Reporting Person (See Instructions):
PN |
Schedule 13D
CUSIP No. 30322L101
(1) |
Name of Reporting Persons:
Kennedy Lewis GP II LLC | |||||
(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):
AF | |||||
(5) | Check if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d) or 2(e):
☐ | |||||
(6) | Citizenship or Place of Organization:
Delaware |
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH:
|
(7) | Sole Voting Power
9,728,141 | ||||
(8) | Shared Voting Power
0 | |||||
(9) | Sole Dispositive Power
9,728,141 | |||||
(10) | Shared Dispositive Power
0 |
(11) |
Aggregate Amount Beneficially Owned by Each Reporting Person:
9,728,141 | |||||
(12) | Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions):
☐ | |||||
(13) | Percent of Class Represented by Amount in Row (11):
10.0% | |||||
(14) | Type of Reporting Person (See Instructions):
OO |
Schedule 13D
CUSIP No. 30322L101
(1) |
Name of Reporting Persons:
Kennedy Lewis Capital Partners Master Fund III LP | |||||
(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 if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d) or 2(e):
☐ | |||||
(6) | Citizenship or Place of Organization:
Cayman Islands |
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH:
|
(7) | Sole Voting Power
2,224,093 | ||||
(8) | Shared Voting Power
0 | |||||
(9) | Sole Dispositive Power
2,224,093 | |||||
(10) | Shared Dispositive Power
0 |
(11) |
Aggregate Amount Beneficially Owned by Each Reporting Person:
2,224,093 | |||||
(12) | Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions):
☐ | |||||
(13) | Percent of Class Represented by Amount in Row (11):
2.3% | |||||
(14) | Type of Reporting Person (See Instructions):
PN |
Schedule 13D
CUSIP No. 30322L101
(1) |
Name of Reporting Persons:
Kennedy Lewis GP III LLC | |||||
(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):
AF | |||||
(5) | Check if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d) or 2(e):
☐ | |||||
(6) | Citizenship or Place of Organization:
Delaware |
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH:
|
(7) | Sole Voting Power
2,224,093 | ||||
(8) | Shared Voting Power
0 | |||||
(9) | Sole Dispositive Power
2,224,093 | |||||
(10) | Shared Dispositive Power
0 |
(11) |
Aggregate Amount Beneficially Owned by Each Reporting Person:
2,224,093 | |||||
(12) | Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions):
☐ | |||||
(13) | Percent of Class Represented by Amount in Row (11):
2.3% | |||||
(14) | Type of Reporting Person (See Instructions):
OO |
Schedule 13D
CUSIP No. 30322L101
(1) |
Name of Reporting Persons:
Darren Richman | |||||
(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):
AF | |||||
(5) | Check if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d) or 2(e):
☐ | |||||
(6) | Citizenship or Place of Organization:
USA |
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH:
|
(7) | Sole Voting Power
14,061,993 | ||||
(8) | Shared Voting Power
0 | |||||
(9) | Sole Dispositive Power
14,061,993 | |||||
(10) | Shared Dispositive Power
0 |
(11) |
Aggregate Amount Beneficially Owned by Each Reporting Person:
14,061,993 | |||||
(12) | Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions):
☐ | |||||
(13) | Percent of Class Represented by Amount in Row (11):
14.5% | |||||
(14) | Type of Reporting Person (See Instructions):
IN, HC |
Schedule 13D
CUSIP No. 30322L101
(1) |
Name of Reporting Persons:
David Chene | |||||
(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):
AF | |||||
(5) | Check if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d) or 2(e):
☐ | |||||
(6) | Citizenship or Place of Organization:
USA |
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH:
|
(7) | Sole Voting Power
14,061,993 | ||||
(8) | Shared Voting Power
0 | |||||
(9) | Sole Dispositive Power
14,061,993 | |||||
(10) | Shared Dispositive Power
0 |
(11) |
Aggregate Amount Beneficially Owned by Each Reporting Person:
14,061,993 | |||||
(12) | Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions):
☐ | |||||
(13) | Percent of Class Represented by Amount in Row (11):
14.5% | |||||
(14) | Type of Reporting Person (See Instructions):
IN, HC |
AMENDMENT NO. 4 TO SCHEDULE 13D
The following constitutes Amendment No. 4 (“Amendment No. 4”) to the Schedule 13D filed with the Securities and Exchange Commission (“SEC”) by Kennedy Lewis Management LP (the “Adviser”), KLM GP LLC (“KLM”), Kennedy Lewis Investment Management LLC (“Kennedy Lewis Investment Management”), Kennedy Lewis Investment Holdings LLC (“Holdings I”), Kennedy Lewis Investment Holdings II LLC (“Holdings II”), Kennedy Lewis Capital Partners Master Fund LP (“Master Fund I”), Kennedy Lewis GP LLC (“Fund I GP”), Kennedy Lewis Capital Partners Master Fund II LP (“Master Fund II”), Kennedy Lewis GP II LLC (“Fund II GP”), Kennedy Lewis Capital Partners Master Fund III LP (“Master Fund III”), Kennedy Lewis GP III LLC (“Fund III GP”), Darren Richman and David Chene (collectively, the “Reporting Persons”) on August 31, 2022, as amended by Amendment No. 1 filed on September 30, 2022, Amendment No. 2 filed on October 18, 2022, and Amendment No. 3 filed on February 15, 2023. This Amendment No. 4 amends and supplements the Schedule 13D as specifically set forth herein.
All capitalized terms contained herein but not otherwise defined shall have the meanings ascribed to such terms in the Schedule 13D, as amended. Information given in response to each item shall be deemed incorporated by reference in all other items, as applicable.
ITEM 4. | PURPOSE OF TRANSACTION |
Item 4 of this Schedule 13D is supplemented and superseded, as the case may be, as follows:
On May 22, 2023, the Board of Directors (the “Board”) of F45 Training Holdings Inc. (the “Issuer”) elected Anthony Pasqua, the Chief Operating Officer of the Adviser, to serve as a director on the Board. Mr. Pasqua will serve as a Class II Director until the Issuer’s 2023 Annual Meeting of Stockholders and until his successor is duly elected and qualified.
Amendment to Letter Agreement
On April 14, 2023, the Issuer, Master Fund II and Master Fund III entered into an amendment to the Letter Agreement (the “Amendment to the Letter Agreement”) extending the amount of time for the Issuer to identify a CFO candidate to no later than 150 days following the effective date of the New Credit Agreement; provided, that if the Issuer is using commercially reasonable efforts to identify a CFO candidate, then such 150-day period shall be automatically extended by a single additional 15 days upon notice from the Issuer to Master Fund II and Master Fund III.
The foregoing description of the Amendment to the Letter Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the Amendment to the Letter Agreement, which is incorporated by reference as Exhibit 99.1 and is incorporated herein by reference.
ITEM 6. | CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT TO SECURITIES OF THE ISSUER |
Item 6 of this Schedule 13D is supplemented and superseded, as the case may be, as follows:
The disclosure in Item 4 is incorporated herein by reference.
The Amendment to the Letter Agreement is incorporated by reference as Exhibit 99.1 and is incorporated herein by reference.
ITEM 7. | MATERIAL TO BE FILED AS EXHIBITS |
Exhibit |
Description | |
99.1 | Amendment to Letter Agreement, dated April 14, 2023, by among F45 Training Holdings Inc., Kennedy Lewis Capital Partners Master Fund II LP, and Kennedy Lewis Capital Partners Master Fund III LP (incorporated by reference to Exhibit 10.1 to the Issuer’s Current Report on Form 8-K, filed with the SEC on April 25, 2023). |
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, each of the undersigned certifies that the information set forth in this statement is true, complete and correct.
Dated as of May 26, 2023
KENNEDY LEWIS MANAGEMENT LP | ||
By: | KLM GP LLC, its general partner | |
By: | /s/ Anthony Pasqua | |
Name: | Anthony Pasqua | |
Title: | Chief Operating Officer | |
KLM GP LLC | ||
By: | /s/ Anthony Pasqua | |
Name: | Anthony Pasqua | |
Title: | Authorized Person | |
KENNEDY LEWIS INVESTMENT MANAGEMENT LLC | ||
By: | /s/ Anthony Pasqua | |
Name: | Anthony Pasqua | |
Title: | Chief Operating Officer | |
KENNEDY LEWIS INVESTMENT HOLDINGS LLC | ||
By: | /s/ Anthony Pasqua | |
Name: | Anthony Pasqua | |
Title: | Authorized Person | |
KENNEDY LEWIS INVESTMENT HOLDINGS II LLC | ||
By: | /s/ Anthony Pasqua | |
Name: | Anthony Pasqua | |
Title: | Authorized Person | |
KENNEDY LEWIS CAPITAL PARTNERS MASTER FUND LP | ||
By: | Kennedy Lewis GP LLC, its general partner | |
By: | Kennedy Lewis Investment Holdings LLC, its managing member | |
By: | /s/ Anthony Pasqua | |
Name: | Anthony Pasqua | |
Title: | Authorized Person |
KENNEDY LEWIS GP LLC | ||
By: | Kennedy Lewis Investment Holdings LLC, its managing member | |
By: | /s/ Anthony Pasqua | |
Name: | Anthony Pasqua | |
Title: | Authorized Person | |
KENNEDY LEWIS CAPITAL PARTNERS MASTER FUND II LP | ||
By: | Kennedy Lewis GP II LLC, its general partner | |
By: | Kennedy Lewis Investment Holdings II LLC, its managing member | |
By: | /s/ Anthony Pasqua | |
Name: | Anthony Pasqua | |
Title: | Authorized Person | |
KENNEDY LEWIS GP II LLC | ||
By: | Kennedy Lewis Investment Holdings II LLC, its managing member | |
By: | /s/ Anthony Pasqua | |
Name: | Anthony Pasqua | |
Title: | Authorized Person | |
KENNEDY LEWIS CAPITAL PARTNERS MASTER FUND III LP | ||
By: | Kennedy Lewis GP III LLC, its general partner | |
By: | Kennedy Lewis Investment Holdings II LLC, its managing member | |
By: | /s/ Anthony Pasqua | |
Name: | Anthony Pasqua | |
Title: | Authorized Person | |
KENNEDY LEWIS GP III LLC | ||
By: | Kennedy Lewis Investment Holdings II LLC, its managing member | |
By: | /s/ Anthony Pasqua | |
Name: | Anthony Pasqua | |
Title: | Authorized Person | |
By: | /s/ Darren Richman | |
By: | /s/ David Chene |