Sec Form 13D Filing - GLENVIEW CAPITAL MANAGEMENT LLC filing for Butterfly Network Inc. (BFLY) - 2023-02-14

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

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SCHEDULE 13D

(Rule 13d-101)

 

UNDER THE SECURITIES EXCHANGE ACT OF 1934

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BUTTERFLY NETWORK, INC.

(Name of Issuer)

 

Common Stock, par value $0.0001

(Title of Class of Securities)

 

124155102

(CUSIP Number)

 

Mark Horowitz

Co-President

Glenview Capital Management

767 Fifth Avenue, 44th Floor

New York, NY 10153

(212) 812-4700

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

 

February 13, 2023

(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 § 240.13d-7 for other parties to whom copies are to be sent.

 

 

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

 

Item 1 of the Original 13D is hereby amended and supplemented as follows.

 

This Amendment No. 3 (“Amendment No. 3”) amends and supplements the information set forth in the Schedule 13D filed by the Reporting Persons with the U.S. Securities and Exchange Commission (the “SEC”) on February 17, 2021, as amended by Amendment No. 1, filed with the SEC on March 30, 2021, and Amendment No. 2, filed with the SEC on March 11, 2022 (collectively, the “Schedule 13D”), relating to the Class A common stock, par value $0.0001 per share (the “Common Stock”), of Butterfly Network, Inc. (the “Issuer”). The Issuer’s principal executive offices are located at 1600 District Avenue, Burlington, MA 01803. All capitalized terms contained herein but not otherwise defined shall have the meanings ascribed to such terms in the Schedule 13D. Except as specifically provided herein, this Amendment No. 3 does not modify any of the information previously reported in the Schedule 13D.

 

Item 4 of the Schedule 13D is hereby amended and supplemented as follows:

 

On February 13, 2023, Longview Investors LLC (“Longview”) distributed in kind 2,568,750 shares of Common Stock and 1,713,333 Private Placement Warrants to certain funds managed by Glenview Capital Management, LLC (“Glenview”), on a pro rata basis based on their ownership interest in Longview, for no consideration.

 

Item 5 of the Schedule 13D is hereby amended and supplemented as follows:

 

(a, b) Items 7-11 of the cover pages of the Schedule 13D are incorporated herein by reference.

 

(c) Except as described in Item 4 of this Amendment No. 3, the Reporting Persons have not effected any transactions with respect to the Common Stock the past 60 days.

 

(d) Certain funds managed by Glenview are known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the shares of Common Stock reported in this Statement as beneficially owned by Glenview (and indirectly beneficially owned by Larry Robbins).

 

(e) As of February 13, 2023, Longview ceased to be the beneficial owner of more than five percent of the class of securities.

 

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.