Insider filing report for Changes in Beneficial Ownership
- Schedule 13G & 13D forms are used to report a party's ownership of stock which exceeds 5% of a company's total stock issue.
- Schedule 13G is a shorter version of Schedule 13D with fewer reporting requirements.
"Insiders might sell their shares for any number of reasons, but they buy them for only one: they think the price will rise"
- Peter Lynch
What is insider trading>>
- Peter Lynch
What is insider trading>>
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
SCHEDULE 13D
(Amendment No. 7)*
Under the Securities Exchange Act of 1934
|
AQUABOUNTY TECHNOLOGIES, INC.
|
|
(Name of Issuer)
|
|
Common Stock, par value $0.01 per share
|
|
(Title of Class of Securities)
|
|
UO387J108
|
|
(CUSIP Number)
|
|
Third Security, LLC
1881 Grove Avenue
Radford, Virginia 24141
Attention: Marcus E. Smith, Esq.
(540) 633-7900
|
||
|
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
|
||
|
Copy to:
Troutman Pepper Hamilton Sanders LLP
1001 Haxall Point
Richmond, Virginia 23219
Attention: David I. Meyers, Esq.
John Owen Gwathmey, Esq.
(804) 697-1200
|
|
December 17, 2020
|
|
(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 which is the subject of this Schedule 13D, and is filing this schedule
because of Rule 13d-1(b)(3) or (4), 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 §240.13d-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. UO387J108
|
Page 2 of 9
|
|
1
|
NAMES OF REPORTING PERSONS
|
|
|
||
|
RANDAL J. KIRK
|
|
|
|||
|
|
|
||||
|
2
|
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
|
(a)
|
☐
|
||
|
(b)
|
☒
|
||||
|
|
|
||||
|
3
|
SEC USE ONLY
|
|
|
||
| |
|
|
|||
|
|
|
||||
|
4
|
SOURCE OF FUNDS (SEE INSTRUCTIONS)
|
|
|
||
|
PF
|
|
|
|||
|
|
|
||||
|
5
|
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(D) OR 2(E)
|
|
☐
|
||
|
|
|
||||
|
|
|
||||
|
6
|
CITIZENSHIP OR PLACE OF ORGANIZATION
|
|
|
||
|
United States
|
|
|
|||
|
|
|
||||
|
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
|
7
|
SOLE VOTING POWER
|
|
|
|
|
18,219,824
|
|
|
|||
|
|
|
||||
|
8
|
SHARED VOTING POWER
|
|
|
||
| 0 |
|
|
|||
|
|
|
||||
|
9
|
SOLE DISPOSITIVE POWER
|
|
|
||
|
18,219,824
|
|
|
|||
|
|
|
||||
|
10
|
SHARED DISPOSITIVE POWER
|
|
|
||
| 0 |
|
|
|||
|
|
|
||||
|
11
|
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
|
|
|
||
|
18,219,824
|
|
|
|||
|
|
|
||||
|
12
|
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
|
|
☐
|
||
|
|
|
||||
|
|
|
||||
|
13
|
PERCENT OF CLASS REPRESENTED BY AMOUN
T IN ROW (11)
|
|
|
||
|
33.1%
|
|
|
|||
|
|
|
||||
|
14
|
TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
|
|
|
||
|
IN
|
|
|
|||
|
|
|
||||
|
CUSIP No. UO387J108
|
Page 3 of 9
|
|
1
|
NAMES OF REPORTING PERSONS
|
|
|
||
|
THIRD SECURITY, LLC
I.R.S. IDENTIFICATION NO.: 54-1923091
|
|
|
|||
|
|
|
||||
|
2
|
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
|
(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 ITEM 2(D) OR 2(E)
|
|
☐
|
||
|
|
|
||||
|
|
|
||||
|
6
|
CITIZENSHIP OR PLACE OF ORGANIZATION
|
|
|
||
|
Virginia
|
|
|
|||
|
|
|
||||
|
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
|
7
|
SOLE VOTING POWER
|
|
|
|
|
17,893,580
|
|
|
|||
|
|
|
||||
|
8
|
SHARED VOTING POWER
|
|
|
||
|
0
|
|
|
|||
|
|
|
||||
|
9
|
SOLE DISPOSITIVE POWER
|
|
|
||
|
17,893,580
|
|
|
|||
|
|
|
||||
|
10
|
SHARED DISPOSITIVE POWER
|
|
|
||
|
0
|
|
|
|||
|
|
|
||||
|
11
|
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
|
|
|
||
|
17,893,580
|
|
|
|||
|
|
|
||||
|
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)
|
|
|
||
|
32.5%
|
|
|
|||
|
|
|
||||
|
14
|
TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
|
|
|
||
|
OO – limited liability company
|
|
|
|||
|
|
|
||||
|
CUSIP No. UO387J108
|
Page 4 of 9
|
|
1
|
NAMES OF REPORTING PERSONS
|
|
|
||
|
TS AQUACULTURE LLC
I.R.S. IDENTIFICATION NO.: 84-3478741
|
|
|
|||
|
|
|
||||
|
2
|
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
|
(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 ITEM 2(D) OR 2(E)
|
|
☐
|
||
|
|
|
||||
|
|
|
||||
|
6
|
CITIZENSHIP OR PLACE OF ORGANIZATION
|
|
|
||
|
Virginia
|
|
|
|||
|
|
|
||||
|
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
|
7
|
SOLE VOTING POWER
|
|
|
|
|
8,239,199
|
|
|
|||
|
|
|
||||
|
8
|
SHARED VOTING POWER
|
|
|
||
|
0
|
|
|
|||
|
|
|
||||
|
9
|
SOLE DISPOSITIVE POWER
|
|
|
||
|
8,239,199
|
|
|
|||
|
|
|
||||
|
10
|
SHARED DISPOSITIVE POWER
|
|
|
||
|
0
|
|
|
|||
|
|
|
||||
|
11
|
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
|
|
|
||
|
8,239,199
|
|
|
|||
|
|
|
||||
|
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)
|
|
|
||
|
15.0%
|
|
|
|||
|
|
|
||||
|
14
|
TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
|
|
|
||
|
OO – limited liability company
|
|
|
|||
|
|
|
||||
|
CUSIP No. UO387J108
|
Page 5 of 9
|
|
1
|
NAMES OF REPORTING PERSONS
|
|
|
||
|
TS BIOTECHNOLOGY HOLDINGS, LLC
I.R.S. IDENTIFICATION NO.: 84-4504203
|
|
|
|||
|
|
|
||||
|
2
|
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
|
(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 ITEM 2(D) OR 2(E)
|
|
☐
|
||
|
|
|
||||
|
|
|
||||
|
6
|
CITIZENSHIP OR PLACE OF ORGANIZATION
|
|
|
||
|
Virginia
|
|
|
|||
|
|
|
||||
|
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
|
7
|
SOLE VOTING POWER
|
|
|
|
|
9,175,000
|
|
|
|||
|
|
|
||||
|
8
|
SHARED VOTING POWER
|
|
|
||
|
0
|
|
|
|||
|
|
|
||||
|
9
|
SOLE DISPOSITIVE POWER
|
|
|
||
|
9,175,000
|
|
|
|||
|
|
|
||||
|
10
|
SHARED DISPOSITIVE POWER
|
|
|
||
|
0
|
|
|
|||
|
|
|
||||
|
11
|
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
|
|
|
||
|
9,175,000
|
|
|
|||
|
|
|
||||
|
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)
|
|
|
||
|
16.7%
|
|
|
|||
|
|
|
||||
|
14
|
TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
|
|
|
||
|
CO
|
|
|
|||
|
|
|
||||
|
CUSIP No. UO387J108
|
Page 6 of 9
|
This Amendment No. 7 (the “Amendment”) amends and supplements the Statement on Schedule 13D, dated January 18, 2017 and filed on January 20, 2017, as amended by Amendment No. 1, dated July 24, 2017 and filed on
July 26, 2017, as amended by Amendment No. 2 dated January 17, 2018 and filed on January 19, 2018, as amended by Amendment No. 3 dated October 24, 2018 and filed on October 29, 2018, as amended by Amendment No. 4 dated October 29, 2019 and filed
on October 31, 2019, as amended by Amendment No. 5 dated February 13, 2020 and filed on February 18, 2020, and as amended by Amendment No. 6 dated August 11, 2020 and filed on August 13, 2020 (the “Original Schedule 13D”), relating to the Common
Stock, par value $0.001 per share (the “Common Stock”), of AquaBounty Technologies, Inc., a Delaware corporation (the “Company”). Mr. Randal J. Kirk (“Mr. Kirk”), Third Security, LLC, a Virginia limited liability company that is
controlled by Mr. Kirk (“Third Security”), TS AquaCulture LLC, a Virginia limited liability company that is managed by Third Security (“TS AquaCulture”), and TS Biotechnology Holdings, LLC, a Virginia limited liability company that is managed by
Third Security (“TS Biotechnology” and, together with Mr. Kirk, Third Security, and TS AquaCulture, the “Reporting Persons”) are filing this Amendment to disclose the distribution of 199,682 shares of Common
Stock by NRM VI Holdings I, LLC, a Delaware limited liability company that is managed by an affiliate that is managed by Third Security (“NRM VI Holdings”), in connection with its pro rata liquidation in accordance with the terms of its Amended
and Restated Limited Liability Company Agreement dated December 21, 2009. In connection with such pro rata liquidation, 165,862 of such shares are being distributed to entities under the common control of Mr. Kirk. Additionally, the Reporting
Persons are filing this Amendment to disclose the distribution of 3,637 shares of Common Stock by NRM VII Holdings I, LLC, a Delaware limited liability company that is managed by an affiliate that is managed by Third Security (“NRM VII
Holdings”), in connection with its pro rata liquidation in accordance with the terms of its Limited Liability Company Agreement dated January 12, 2012. In connection with such pro rata liquidation, 3,369 of such shares are being distributed to
entities under the common control of Mr. Kirk.
| Item 4. |
Purpose of Transaction.
|
Item 4 of the Original Schedule 13D is hereby amended and supplemented as follows:
The information set forth in Items 3 and 6 is incorporated herein by reference.
The Reporting Persons are filing this Amendment to disclose the distribution of (i) 199,682 shares of Common Stock by NRM VI Holdings and (ii) 3,637 shares of Common Stock by NRM VII Holdings in
connection with the pro rata liquidation of each fund in accordance with the terms of each funds’ respective Limited Liability Company Agreement.
In connection with the pro rata liquidation of NRM VI Holdings, 165,862 of such shares are being distributed to entities under the common control of Mr. Kirk. In connection with the pro rata
liquidation of NRM VII Holdings, 3,369 shares are being distributed to entities under the common control of Mr. Kirk.
Other than as disclosed herein, as of the date of this Amendment, none of the Reporting Persons have present plans or proposals which would result in:
|
CUSIP No. UO387J108
|
Page 7 of 9
|
|
|
(a)
|
The acquisition by any person of additional securities of the Company, or the disposition of securities of the Company;
|
|
(b)
|
An extraordinary corporate transaction such as a merger, reorganization or disposition, involving the Company or any of its subsidiaries;
|
|
(c)
|
A sale or transfer of a material amount of assets of the Company or any of its subsidiaries;
|
|
(d)
|
Any change in the present board of directors or management of the Company, including any plans or proposals to change the number or term of directors or to fill any existing vacancies on
the board;
|
|
(e)
|
Any material change in the present capitalization or dividend policy of the Company;
|
|
(f)
|
Any other material change in the Company’s business or corporate structure, including but not limited to, if the Company is a registered closed-end investment company, any plans or
proposals to make any changes in its investment policy for which a vote is required by Section 13 of the Investment Company Act of 1940;
|
|
(g)
|
Changes in the Company’s charter, bylaws or instruments corresponding thereto or other actions which may impede the acquisition of control of the Company by any person;
|
|
(h)
|
Causing a class of securities of the Company to be delisted from a national securities exchange or to cease to be authorized to be quoted in an inter-dealer quotation system of a
registered national securities association;
|
|
(i)
|
A class of equity securities of the Company becoming eligible for termination of registration pursuant to Section 12(g)(4) of the Securities Exchange Act of 1934; or
|
|
(j)
|
Any action similar to any of those actions enumerated above.
|
| Item 5. |
Interest in Securities of the Issuer.
|
The information contained on the cover pages to this Statement and the information set forth or incorporated in Items 2, 3, 4 and 6 is incorporated herein by reference.
(a) and (b) See Items 11 and 13 of the cover pages to this Statement for the aggregate number of shares and
percentage of issued and outstanding shares of Common Stock owned by the Reporting Persons. The percentage ownership is calculated based on 44,960,806 shares of Common Stock issued and outstanding as of November 2, 2020, as disclosed by the
Company in its Quarterly Report on Form 10-Q for the period ended September 30, 2020, increased by 10,028,000 shares issued in connection with an underwritten public offering, which closed on December 14, 2020.
|
CUSIP No. UO387J108
|
Page 8 of 9
|
|
Reporting Person
|
Amount of
Common Stock
Beneficially
Owned
|
Percent
of Class
|
Sole Power
to Vote or
Direct
the Vote
|
Shared
Power to
Vote or
Direct
the Vote
|
Sole Power to
Dispose or to
Direct the
Disposition
|
Shared
Power to
Dispose or to
Direct the
Disposition
|
||||||||||||||||||
|
Randal J. Kirk
|
18,219,824
|
(1)
|
33.1
|
%
|
18,219,824
|
(1)
|
--
|
18,219,824
|
(1)
|
--
|
||||||||||||||
|
Third Security, LLC
|
17,893,580
|
(2)
|
32.5
|
%
|
17,893,580
|
(2)
|
--
|
17,893,580
|
2)
|
--
|
||||||||||||||
|
TS AquaCulture LLC
|
8,239,199
|
(2)
|
15.0
|
%
|
8,239,199
|
(2)
|
--
|
8,239,199
|
(2)
|
--
|
||||||||||||||
|
TS Biotechnology Holdings, LLC
|
9,175,000
|
(2)
|
16.7
|
%
|
9,175,000
|
(2)
|
--
|
9,175,000
|
(2)
|
--
|
||||||||||||||
| (1) |
Includes (i) 324,085 shares of Common Stock held by various entities that are controlled by Mr. Kirk but not managed by Third Security, none of which beneficially owns more than 5.0% individually, and (ii)
2,159 shares of Comm
on Stock held by the spouse of Mr. Kirk.
|
| (2) |
Mr. Kirk could be deemed to have indirect beneficial ownership of the shares of Common Stock directly held by entities managed by Third Security, including TS AquaCulture and TS Biotechnology.
|
(c) Except as set forth in this Statement, none of the Reporting Persons have engaged in any transactions in
the Common Stock in the past 60 days.
(d)-(e) Not Applicable
| Item 6. |
Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer.
|
The Reporting Persons’ responses to Items 3, 4 and 5 are incorporated herein by reference.
| Item 7. |
Material to be Filed as Exhibits.
|
| Exhibit 1 |
Joint Filing Agreement, dated as of December 21, 2020, by and between Mr. Kirk, Third Security, TS AquaCulture, and TS Biotechnology
|
SIGNATURES
After reasonable inquiry and to the best of their knowledge and belief, the undersigned certify that the information set forth in this statement is true, complete and correct.
| Date: December 21, 2020 | ||
|
/s/ Randal J. Kirk
|
||
|
Randal J. Kirk
|
||
|
THIRD SECURITY, LLC
|
||
|
By:
|
/s/ Randal J. Kirk
|
|
|
Randal J. Kirk
|
||
|
Manager
|
||
|
TS AQUACULTURE LLC
|
||
|
By:
|
/s/ Randal J. Kirk
|
|
|
Randal J. Kirk
|
||
|
Manager
|
||
|
TS BIOTECHNOLOGY HOLDINGS, LLC
|
||
|
By:
|
/s/ Randal J. Kirk
|
|
|
Randal J. Kirk
|
||
|
Manager
|
||
EXHIBIT INDEX
| Exhibit 1 |
Joint Filing Agreement, dated as of December 21, 2020, by and between Mr. Kirk, Third Security, TS AquaCulture and TS Biotechnology
|