SEC Form SC 13G/A filed by Coupang Inc. (Amendment)

SEC Form SC 13G/A filed by Coupang Inc. (Amendment)

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Amendment: SEC Form SC 13G/A filed by Coupang Inc.

Amendment: SEC Form SC 13G/A filed by Coupang Inc.

2/14/23 7:34:58 AM ET

$CPNG

Catalog/Specialty Distribution

Consumer Discretionary

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SC 13G/A 1 d420433dsc13ga.htm SC 13G/A SC 13G/A

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

SCHEDULE 13G/A

Under the Securities Exchange Act of 1934

(Amendment No. 1)*

Coupang, Inc.

(Name of Issuer)

Class A Common Stock, par value $0.0001 per share

(Title of Class of Securities)

22266T109

(CUSIP Number)

December 31, 2022

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

☐ Rule 13d-1(b)

☐ Rule 13d-1(c)

☒ Rule 13d-1(d)

*	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 the disclosures provided in a prior cover page.

The information required in 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. 22266T109

CUSIP No. 22266T109

CUSIP No. 22266T109

CUSIP No. 22266T109

CUSIP No. 22266T109

Item

1(a). Name of Issuer:

Coupang, Inc. (the “Issuer”)

Item 1(b).

Address of Issuer’s Principal Executive Offices:

720 Olive Way, Suite 600

Seattle, Washington 98101

Item 2(a).

Names of Persons Filing:

This Schedule 13G (the “Schedule 13G”) is being filed on behalf of each of the following persons (each, a “Reporting Person”):

(i)

Maverick Capital, Ltd.;

(ii)

Maverick Capital Management, LLC;

(iii)

Lee S. Ainslie III (“Mr. Ainslie”);

(iv)

Maverick Holdings C, L.P; and

(v)

Maverick C GP, LLC.

The Schedule 13G relates to Class A Common Stock (as defined herein) held by Maverick Holdings C, L.P. and for the accounts of the clients of Maverick Capital, Ltd.

Item 2(b).

Address of Principal Business Office or, if None, Residence:

The address of the principal business office of each of the Reporting Persons is:

The address of the principal business office of (i) Maverick Capital, Ltd., Maverick Capital Management, LLC, Maverick Holdings C, L.P. and Maverick C GP, LLC is 1900 N. Pearl Street, 20th Floor, Dallas, Texas 75201, and (ii) Mr. Ainslie is C/O MCL Florida, LLC, 360 South Rosemary Ave., Suite 1440, West Palm Beach, Florida 33401.

Item 2(c).

Citizenship:

(i)

Maverick Capital, Ltd. is a Texas limited partnership;

(ii)

Maverick Capital Management, LLC is a Texas limited liability company;

(vi)

Mr. Ainslie is a citizen of the United States;

(vii)

Maverick Holdings C, L.P. is a Delaware limited partnership; and

(viii)

Maverick C GP, LLC is a Delaware limited liability company.

Item 2(d).

Title of Class of Securities:

Class A Common Stock, par value $0.0001 per share (“Class A Common Stock”)

Item 2(e).

CUSIP Number:

22266T109

Item 3.

If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), checkwhether the person filing is a:


(a)	☐	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o).

(b)	☐	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c).

(c)	☐	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c).

(d)	☐	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8).

(e)	☐	An investment advisor in accordance with §240.13d-1(b)(1)(ii)(E).

(f)	☐	An employee benefit plan or endowment fund in accordance with §240.13d-1(b)(1)(ii)(F).

(g)	☐	A parent holding company or control person in accordance with §240.13d-1(b)(1)(ii)(G).

(h)	☐	A savings association as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813).

(i)	☐	A church plan that is excluded from the definition of an investment company under Section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3).

(j)	☐	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J);
(k)	☐	Group, in accordance with § 240.13d-1(b)(1)(ii)(K).

Item 4.

Ownership.

Ownership as of December 31, 2022 is incorporated by reference to items (5) – (9) and (11) of the cover page of this Schedule 13G. The ownership percentages reported are based on 1,595,495,238 outstanding shares of Class A Common Stock, as reported in the Issuer’s Form 10-Q filed on November 10, 2022.

Maverick Holdings C, L.P. directly holds 74,191,904 shares of Class A Common Stock. Maverick C GP, LLC is the general partner of Maverick Holdings C, L.P, and Maverick Capital, Ltd. is the investment manager of Maverick Holdings C, L.P. Maverick Capital, Ltd. is an investment adviser registered under Section 203 of the Investment Advisers Act of 1940 and, as such, may be deemed to have beneficial ownership of the additional shares of Class A Common Stock which are the subject of this filing through the investment discretion it exercises over its clients’ accounts. Maverick Capital Management, LLC is the General Partner of Maverick Capital, Ltd. Mr. Ainslie is the manager of Maverick Capital Management, LLC.

Item 5.

Ownership of Five Percent or Less of a Class.

If this statement is being filed to report the fact that as of the date hereof the Reporting Persons have ceased to be the beneficial owner of more than five percent of the class of securities, check the following ☒.

Item 6.

Ownership of More than Five Percent on Behalf of Another Person.

Not applicable.

Item 7.

Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.

Not applicable.

Item 8.

Identification and Classification of Members of the Group.

Not applicable.

Item 9.

Notice of Dissolution of Group.

Not applicable.

Item 10.

Certification.

Not applicable.

SIGNATURES

After reasonable inquiry and to the best of its knowledge and belief, each of the undersigned certifies that the information set forth in this statement is true, complete and correct.

Date: February 14, 2023


MAVERICK CAPITAL, LTD.

By:		Maverick Capital Management, LLC, its General Partner

By:		Lee S. Ainslie III, Manager

By:		/s/ Mark Gurevich
		Mark Gurevich
		Under Power of Attorney dated March 15, 2018

MAVERICK CAPITAL MANAGEMENT, LLC

By:		Lee S. Ainslie III, Manager

By:		/s/ Mark Gurevich
		Mark Gurevich
		Under Power of Attorney dated March 15, 2018

LEE S. AINSLIE III

By:		/s/ Mark Gurevich
		Mark Gurevich
		Under Power of Attorney dated March 15, 2018

MAVERICK HOLDINGS C, L.P.

By:		Maverick C GP, LLC, its General Partner

By:		Maverick Capital Advisors, L.P. its Sole Member

By:		Maverick Capital Management, LLC its General Partner

By:		Lee S. Ainslie III, Manager

By:		/s/ Mark Gurevich
		Mark Gurevich
		Under Power of Attorney, dated March 15, 2018



MAVERICK C GP, LLC

By:		Maverick Capital Advisors, L.P. its Sole Member

By:		Maverick Capital Management, LLC its General Partner

By:		Lee S. Ainslie III, Manager

By:		/s/ Mark Gurevich
		Mark Gurevich
		Under Power of Attorney, dated March 15, 2018

EXHIBIT INDEX

A.	Joint Filing Agreement, dated February 14, 2023, by and among Maverick Holdings C, L.P., Maverick C GP, LLC, Maverick Capital, Ltd., Maverick Capital Management, LLC and Lee S. Ainslie III.

B.	Power of Attorney, Lee S. Ainslie III, dated March 15, 2018.

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Date	Price Target	Rating	Analyst
2/26/2025	$28.50	Hold → Buy	Deutsche Bank
10/7/2024	$30.00	Underperform → Outperform	Bernstein
9/4/2024	$18.00 → $31.00	Hold → Outperform	CLSA
5/16/2024	$26.00	Neutral → Buy	UBS
5/3/2024	$30.00	Buy	BofA Securities
4/15/2024	$19.00 → $26.00	Neutral → Buy	Citigroup
2/29/2024	$18.50 → $21.00	Hold → Buy	Deutsche Bank
1/16/2024	$20.00 → $17.00	Buy → Neutral	Citigroup

NAMES OF REPORTING PERSONS

  I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

  Maverick Capital, Ltd. – 75-2482446

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)

(a) ☐ (b) ☐

SEC USE ONLY

CITIZENSHIP OR PLACE OF ORGANIZATION

Texas