SEC Form SC 13D/A filed by Nextdoor Holdings Inc. (Amendment)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities
Exchange Act of 1934
(Amendment No. 2)*
Nextdoor Holdings, Inc.
(Name of Issuer)
Class A common stock, $0.0001 par value
(Title of Class of Securities)
65345M108
(CUSIP Number)
Avery Cannon
Chief Financial Officer
c/o Shasta Ventures
3130 Alpine Rd, Ste 288-446
Portola Valley, CA 94028
(Name, Address and
Telephone Number of Person
Authorized to Receive Notices and Communications)
June 5, 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 ("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. 65345M108 |
| 1. | Names of Reporting Persons
Shasta Ventures II, L.P. |
| 2. | Check the Appropriate Box if a Member of a Group (See Instructions)
(a) ¨ (b) x (1) |
| 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
Delaware |
Number of Shares Beneficially Owned by Each Reporting Person With |
7. | Sole Voting Power
|
| 8. | Shared Voting Power
18,360,232 shares (2) | |
| 9. | Sole Dispositive Power
| |
| 10. | Shared Dispositive Power
18,360,232 shares (2) |
| 11. | Aggregate Amount Beneficially Owned by Each Reporting Person
18,360,232 shares (2) |
| 12. | Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) ¨ |
| 13. | Percent of Class Represented by Amount in Row (11)
4.7% of combined common stock (8.5% of Class A common stock) (3) |
| 14. | Type of Reporting Person (See Instructions)
PN |
| (1) | This Schedule 13D is filed by Shasta Ventures II, L.P (“Shasta Ventures II”) and Shasta Ventures II GP, LLC (“SVII GP” and, with Shasta Ventures II, collectively, the “Reporting Persons”). The Reporting Persons expressly disclaim status as a “group” for purposes of this Schedule 13D. |
| (2) | Consists of shares of Class A common stock issuable upon conversion of 18,360,232 shares of Class B common stock held by Shasta Ventures II. SVII GP serves as the sole general partner of Shasta Ventures II and, as such, SVII GP possesses voting and dispositive power over the shares held by Shasta Ventures II. |
| (3) | Calculations of the percentage of combined common stock beneficially owned is based on 390,281,701 shares of common stock (189,105,696 shares of Class A common stock and 201,176,005 shares of Class B common stock) issued and outstanding as of May 3, 2024, as disclosed in the Issuer’s Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission (the “SEC”) on May 7, 2024. Calculations of the percentage of the shares of Class A common stock beneficially owned is based on 189,105,696 shares of Class A common stock, as adjusted to reflect the conversions of Class B common stock by Shasta Ventures II subsequent to May 3, 2024 (including the conversion described herein) and as further adjusted pursuant to SEC Rule 13d-3. |
| CUSIP No. 65345M108 |
| 1. | Names of Reporting Persons
Shasta Ventures II GP, LLC |
| 2. | Check the Appropriate Box if a Member of a Group (See Instructions)
(a) ¨ (b) x (1) |
| 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
|
| 8. | Shared Voting Power
18,405,232 shares (2) | |
| 9. | Sole Dispositive Power
| |
| 10. | Shared Dispositive Power
18,405,232 shares (2) |
| 11. | Aggregate Amount Beneficially Owned by Each Reporting Person
18,405,232 shares (2) |
| 12. | Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) ¨ |
| 13. | Percent of Class Represented by Amount in Row (11)
4.7% of combined common stock (8.5% of Class A common stock) (3) |
| 14. | Type of Reporting Person (See Instructions)
OO |
| (1) | This Schedule 13D is filed by the Reporting Persons. The Reporting Persons expressly disclaim status as a “group” for purposes of this Schedule 13D. |
| (2) | Consists of (i) shares of Class A common stock issuable upon conversion of 18,360,232 shares of Class B common stock held by Shasta Ventures II and (ii) 45,000 shares of Class A common stock held by SVII GP. SVII GP serves as the sole general partner of Shasta Ventures II and, as such, SVII GP possesses voting and dispositive power over the shares held by Shasta Ventures II. |
| (3) | Calculations of the percentage of combined common stock beneficially owned is based on 390,281,701 shares of common stock (189,105,696 shares of Class A common stock and 201,176,005 shares of Class B common stock) issued and outstanding as of May 3, 2024, as disclosed in the Issuer’s Quarterly Report on Form 10-Q filed with the SEC on May 7, 2024. Calculations of the percentage of the shares of Class A common stock beneficially owned is based on 189,105,696 shares of Class A common stock, as adjusted to reflect the conversions of Class B common stock by Shasta Ventures II subsequent to May 3, 2024 (including the conversion described herein) and as further adjusted pursuant to SEC Rule 13d-3. |
Explanatory Note: This Amendment No. 2 (the “Amendment”), which amends the Schedule 13D filed with the Securities and Exchange Commission (the “SEC”) on November 15, 2021, and amended on May 30, 2024 (as amended, the “Original Schedule 13D”) filed on behalf of Shasta Ventures II, L.P. (“Shasta Ventures II”) and Shasta Ventures II GP, LLC (“SVII GP” and, with Shasta Ventures II, collectively, the “Reporting Persons”), relates to the Class A common stock, $0.0001 par value (“Class A common stock”) of Nextdoor Holdings, Inc., a Delaware corporation (the “Issuer” or “Nextdoor”) and is being filed to report the distributions in kind of shares of Class B common stock and the related conversion of such shares to Class A common stock on June 5, 2024. Accordingly, the number of securities beneficially owned by the Reporting Persons has decreased as described in Items 4 and 5 below.
Items 4 and 5 of the Original Schedule 13D are hereby amended and supplemented to the extent hereinafter expressly set forth and, except as amended and supplemented hereby, the Original Schedule 13D remains in full force and effect. All capitalized terms used in this Amendment but not defined herein shall have the meanings ascribed thereto in the Original Schedule 13D.
| Item 4. | Purpose of Transaction |
Item 4 of the Original Schedule 13D is hereby amended and supplemented by adding the following paragraph at the end of Item 4:
On June 5, 2024, Shasta Ventures II made a pro rata in-kind distribution for no additional consideration of an aggregate of 5,000,000 shares of Class B common stock to its general partner and limited partners. Of the shares distributed by Shasta Ventures II, SVII GP received 1,040,000 shares. Pursuant to the applicble provisions of the Issuer’s certificate of incorporation, the distributed shares automatically converted to Class A common stock upon transfer.
On June 5, 2024, SVII GP made a further pro rata in-kind distribution for no additional consideration of 1,015,000 shares received in the distribution by Shasta Ventures II to its members.
| Item 5. | Interest in Securities of the Issuer |
| (a) – (b). | The following information with respect to the ownership of the Class A common stock of the Issuer by the persons filing this statement on Schedule 13D is provided as of June 7, 2024: |
| Reporting Persons | Shares Held Directly | Sole Voting Power | Shared Voting Power | Sole Dispositive Power | Shared Dispositive Power | Beneficial Ownership | Percentage of Combined Common Stock (3) | Percentage of Class A Common Stock (3) | |||||||||||||||
| Shasta Ventures II (1) | 18,360,232 | 18,360,232 | 18,360,232 | 18,360,232 | 4.7 | % | 8.5 | % | |||||||||||||||
| SVII GP (1) (2) | 45,000 | 18,405,232 | 18,405,232 | 18,405,232 | 4.7 | % | 8.5 | % | |||||||||||||||
| (1) | Includes shares of Class A common stock issuable upon conversion of 18,360,232 shares of Class B common stock held by Shasta Ventures II. SVII GP serves as the sole general partner of Shasta Ventures II and, as such, SVII GP possesses voting and dispositive power over the shares held by Shasta Ventures II. |
| (2) | Includes 45,000 shares of Class A common stock held by SVII GP. |
| (3) | Calculations of the percentage of combined common stock beneficially owned is based on 390,281,701 shares of common stock (189,105,696 shares of Class A common stock and 201,176,005 shares of Class B common stock) issued and outstanding as of May 3, 2024, as disclosed in the Issuer’s Quarterly Report on Form 10-Q filed with the SEC on May 7, 2024. Calculations of the percentage of the shares of Class A common stock beneficially owned is based on 189,105,696 shares of Class A common stock, as adjusted to reflect the conversions of Class B common stock by Shasta Ventures II subsequent to May 3, 2024 (including the conversion described in Item 4 of this Amendment) and as further adjusted pursuant to SEC Rule 13d-3. |
| (c) | Except as set forth herein, none of the Reporting Persons has effected any transactions in shares of the Issuer’s Class A common stock since May 30, 2024, the date as of which beneficial ownership information was presented in the most recent amendment to this Schedule 13D. |
| (d) | No other person is known to have the right to receive or the power to direct the receipt of dividends from, or any proceeds from the sale of, the shares of Class A common stock beneficially owned by any of the Reporting Persons. |
| (e) | Not applicable. |
SIGNATURE
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: June 7, 2024
| Shasta Ventures II, L.P. | ||
| By: | Shasta Ventures II GP, LLC | |
| its | General Partner | |
| By: | /s/ Jason Pressman | ||
| Name: | Jason Pressman | ||
| Title: | Managing Member | ||
| Shasta Ventures II GP, LLC | |||
| By: | /s/ Jason Pressman | ||
| Name: | Jason Pressman | ||
| Title: | Managing Member | ||
| ATTENTION | ||
| Intentional misstatements or omissions of fact constitute Federal Criminal Violations (See 18 U.S.C. 1001). | ||
Exhibit(s):
JOINT FILING AGREEMENT
The undersigned hereby agree that a single Schedule 13D (or any amendment thereto) relating to the Class A common stock of Nextdoor Holdings, Inc. shall be filed on behalf of each of the undersigned and that this Agreement shall be filed as an exhibit to such Schedule 13D.
Dated: June 7, 2024
| Shasta Ventures II, L.P. | ||
| By: | Shasta Ventures II GP, LLC | |
| its | General Partner | |
| By: | /s/ Jason Pressman | ||
| Name: | Jason Pressman | ||
| Title: | Managing Member | ||
| Shasta Ventures II GP, LLC | |||
| By: | /s/ Jason Pressman | ||
| Name: | Jason Pressman | ||
| Title: | Managing Member | ||