Sec Form 13D Filing - Curative Ventures V LLC filing for INSTIL BIO INC (TIL) - 2024-10-22

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.
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SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

 

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 1)*

 

 

Instil Bio, Inc.

(Name of Issuer)

Common Stock, par value $0.000001

(Title of Class of Securities)

4578C101

(CUSIP NUMBER)

Curative Ventures V LLC

3963 Maple Avenue Suite 390

Dallas, Texas 75219

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

August 6, 2022

(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(e), 13d-1(f) or 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 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 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, as amended (the “Act”), or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act.

 

 

 


CUSIP No. 45783C101    13D

 

 1   

 NAMES OF REPORTING PERSONS

 

 Curative Ventures V LLC

 2  

 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*

 (a) ☐  (b) ☒

 

 3  

 SEC USE ONLY

 

 4  

 SOURCE OF FUNDS*

 

 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

 

 0

    8  

 SHARED VOTING POWER

 

 1,899,003

    9  

 SOLE DISPOSITIVE POWER

 

 0

   10  

 SHARED DISPOSITIVE POWER

 

 1,899,003

11   

 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

 1,899,003

12  

 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*

 

 ☐

13  

 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

 

 29.2%

14  

 TYPE OF REPORTING PERSON*

 

 OO

 

*

SEE INSTRUCTIONS BEFORE FILLING OUT


CUSIP No. 45783C101

   13D

 

 1   

 NAMES OF REPORTING PERSONS

 

 CV-Immetacyte Manager LP

 2  

 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*

 (a) ☐  (b) ☒

 

 3  

 SEC USE ONLY

 

 4  

 SOURCE OF FUNDS*

 

 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

 

 0

    8  

 SHARED VOTING POWER

 

 1,899,003

    9  

 SOLE DISPOSITIVE POWER

 

 0

   10  

 SHARED DISPOSITIVE POWER

 

 1,899,003

11   

 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

 1,899,003

12  

 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*

 

 ☐

13  

 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

 

 29.2%

14  

 TYPE OF REPORTING PERSON*

 

 OO

 

*

SEE INSTRUCTIONS BEFORE FILLING OUT


CUSIP No. 45783C101    13D

 

 1   

 NAMES OF REPORTING PERSONS

 

 CV-Immetacyte Ultimate Manager LLC

 2  

 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*

 (a) ☐  (b) ☒

 

 3  

 SEC USE ONLY

 

 4  

 SOURCE OF FUNDS*

 

 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

 

 0

    8  

 SHARED VOTING POWER

 

 1,899,003

    9  

 SOLE DISPOSITIVE POWER

 

 0

   10  

 SHARED DISPOSITIVE POWER

 

 1,899,003

11   

 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

 1,899,003

12  

 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*

 

 ☐

13  

 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

 

 29.2%

14  

 TYPE OF REPORTING PERSON*

 

 OO

 

*

SEE INSTRUCTIONS BEFORE FILLING OUT


CUSIP No. 45783C101    13D

 

 1   

 NAMES OF REPORTING PERSONS

 

 SB2A LP

 2  

 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*

 (a) ☐  (b) ☒

 

 3  

 SEC USE ONLY

 

 4  

 SOURCE OF FUNDS*

 

 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

 

 2,019,002

    9  

 SOLE DISPOSITIVE POWER

 

   10  

 SHARED DISPOSITIVE POWER

 

 2,019,002

11   

 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

 2,019,002

12  

 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*

 

 ☐

13  

 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

 

 31.0%

14  

 TYPE OF REPORTING PERSON*

 

 PN


CUSIP No. 45783C101    13D

 

 1   

 NAMES OF REPORTING PERSONS

 

 SB2A Management LLC

 2  

 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*

 (a) ☐  (b) ☒

 

 3  

 SEC USE ONLY

 

 4  

 SOURCE OF FUNDS*

 

 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

 

 2,019,002

    9  

 SOLE DISPOSITIVE POWER

 

   10  

 SHARED DISPOSITIVE POWER

 

 2,019,002

11   

 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

 2,019,002

12  

 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*

 

 ☐

13  

 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

 

 31.0%

14  

 TYPE OF REPORTING PERSON*

 

 OO


 1   

 NAMES OF REPORTING PERSONS

 

 Bronson Crouch

 2  

 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*

 (a) ☐  (b) ☒

 

 3  

 SEC USE ONLY

 

 4  

 SOURCE OF FUNDS*

 

 PF/AF

 5  

 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)

 

 ☐

 6  

 CITIZENSHIP OR PLACE OF ORGANIZATION

 

 United States

NUMBER OF

SHARES  BENEFICIALLY 

OWNED BY

EACH

REPORTING

PERSON

WITH

 < /p>

    7   

 SOLE VOTING POWER

 

 518,496

    8  

 SHARED VOTING POWER

 

 2,019,002

    9  

 SOLE DISPOSITIVE POWER

 

 518,496

   10  

 SHARED DISPOSITIVE POWER

 

 2,019,002

11   

 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

 2,537,498

12  

 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*

 

 ☐

13  

 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

 

 36.80%

14  

 TYPE OF REPORTING PERSON*

 

 HC, IN

 

*

SEE INSTRUCTIONS BEFORE FILLING OUT


SCHEDULE 13D

Explanatory Note

This Amendment No. 1 (this “Amendment”) reflects changes to the information in the Schedule 13D relating to the Common Stock, par value $0.000001 (the “Shares”) of Instil Bio, Inc. (the “Issuer” or the “Company”) filed on March 23, 2021 by the Reporting Persons (as amended, the “Schedule 13D”).

Unless otherwise indicated, each capitalized term used but not defined in this Amendment shall have the meaning assigned to such term in the Schedule 13D. With the exception of the changes indicated below, the Schedule 13D is unchanged.

 

Item 3.

Source and Amount of Funds or Other Considerations

Solely as a result of the periodic vesting of options held directly by Bronson Crouch, the Chief Executive Officer of the Issuer, Mr. Crouch was deemed to beneficially own additional shares of Common Stock as follows:

 

   

On August 6, 2022, Mr. Crouch’s vesting of options caused the number of shares to be 46,220,773 resulting in the Reporting Persons’ having aggregate beneficial ownership of 34.60%.

 

   

On August 6, 2023, Mr. Crouch’s vesting of options caused the number of shares to be 48,301,188 resulting in the Reporting Persons’ having aggregate beneficial ownership of 35.60%.

 

   

On August 10, 2024, Mr. Crouch’s vesting of options caused the number of shares to be 2,518,124 (which would have been equal to 50,362,470 on a pre-split basis**) resulting in the Reporting Persons’ having aggregate beneficial ownership of 36.60%.

 

**

On December 7, 2023, the Issuer effected a 1-for-20 reverse stock split of its common stock. As a result, the number of Shares held by the Reporting Persons, as well as all other common stockholders, was proportionately reduced on such date.

All changes were solely the result of the periodic vesting of options held by Mr. Crouch. Mr. Crouch did not exercise any such options during this period, and no other Reporting Person acquired any Common Stock during this period. Additionally, Mr. Crouch reports his beneficial ownership in accordance with the filing requirements of Section 16(a) of the Act.

 

Item 5.

Interest in Securities of the Issuer

 

  (a)

As of the date hereof, (i) Curative Ventures V LLC (“CVV”) may be deemed to beneficially own 1,899,003 shares of Common Stock, which represents approximately 29.2% of the outstanding Common Stock; (ii) CV-Immetacyte Manager LP (“CV-Immetacyte Manager”) may be deemed to beneficially own 1,899,003 shares of Common Stock, which represents approximately 29.2% of the outstanding Common Stock; (iii) CV-Immetacyte Ultimate Manager LLC (“Ultimate Manager”) may be deemed to beneficially own 1,899,003 shares of Common Stock, which represents approximately 29.2% of the outstanding Common Stock; (iv) SB2A LP (“SB2A”) may be deemed to beneficially own 2,019,002 shares of Common


  Stock, which represents approximately 31.0% of the Outstanding Common Stock; (v) SB2A Management LLC (“SB2A Manager”) may be deemed to beneficially own 2,019,002 shares of Common Stock, which represents approximately 31.0% of the Outstanding Common Stock; and (vi) Mr. Crouch may be deemed to beneficially own 2,537,498 shares of Common Stock (this amount includes 391,603 shares of Common Stock that are obtainable upon exercise of options within the next 60 days), which represents approximately 36.80% of the outstanding Common Stock. Each of the Reporting Persons disclaims beneficial ownership of the shares reported herein except to the extent of its or his pecuniary interest therein.
  (b)

As of August 6, 2022:

 

Name of Reporting Person

   Sole Voting
Power
     Shared Voting
Power
     Sole Dispositive
Power
     Shared Dispositive
Power
 

CVV

     0        37,980,073        0        37,980,073  

CV-Immetacyte Manager

     0        37,980,073        0        37,980,073  

Ultimate Manager

     0        37,980,073        0        37,980,073  

SB2A

     0        40,380,072        0        40,380,072  

SB2A Manager

     0        40,380,072        0        40,380,072  

Bronson Crouch

     5,840,701        40,380,072        5,840,701        40,380,072  

As of August 6, 2023:

 

Name of Reporting Person

   Sole Voting
Power
     Shared Voting
Power
     Sole Dispositive
Power
     Shared Dispositive
Power
 

CVV

     0        37,980,073        0        37,980,073  

CV-Immetacyte Manager

     0        37,980,073        0        37,980,073  

Ultimate Manager

     0        37,980,073        0        37,980,073  

SB2A

     0        40,380,072        0        40,380,072  

SB2A Manager

     0        40,380,072        0        40,380,072  

Bronson Crouch

     7,921,116        40,380,072        7,921,116        40,380,072  

Following Reverse Stock Split

As of August 10, 2024:

 

Name of Reporting Person

   Sole Voting
Power
     Shared Voting
Power
     Sole Dispositive
Power
     Shared Dispositive
Power
 

CVV

     0        1,899,003        0        1,899,003  

CV-Immetacyte Manager

     0        1,899,003        0        1,899,003  

Ultimate Manager

     0        1,899,003        0        1,899,003  

SB2A

     0        2,019,002        0        2,019,002  

SB2A Manager

     0        2,019,002        0        2,019,002  

Bronson Crouch

     499,122        2,019,002        499,122        2,019,002  

As of the date hereof:

 

Name of Reporting Person   

Sole Voting

Power

    

Shared Voting

Power

    

Sole Dispositive

Power

    

Shared Dispositive

Power

 

CVV

     0        1,899,003        0        1,899,003  

CV-Immetacyte Manager

     0        1,899,003        0        1,899,003  

Ultimate Manager

     0        1,899,003        0        1,899,003  

SB2A

     0        2,019,002        0        2,019,002  

SB2A Manager

     0        2,019,002        0        2,019,002  

Bronson Crouch

     518,496        2,019,002        518,496        2,019,002  

 

Item 7.

Material to be Filed as Exhibits

Exhibit A: Joint Filing Agreement

Exhibit B: Second Amended and Restated Investors’ Rights Agreement (incorporated by reference to Exhibit 4.1 to the registration statement on Form S-1 filed by the Company as File Number 333-253620)


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: October 22, 2024

 

CURATIVE VENTURES V LLC

By:

 

By:

 

CV-Immetacyte Manager LP, its manager

 

CV-Immetacyte Ultimate Manager LLC, its general partner

By:  

/S/ Bronson Crouch

  Name:   Bronson Crouch
  Title:   Manager
CV-IMMETACYTE MANAGER LP
By:   CV-Immetacyte Ultimate Manager LLC, its general partner
By:  

/S/ Bronson Crouch

  Name:   Bronson Crouch
  Title:   Manager

 

CV-IMMETACYTE ULTIMATE MANAGER LLC
By:  

/S/ Bronson Crouch

  Name: Bronson Crouch
  Title: Manager
SB2A LP
By:   SB2A Management LLC, its general partner
By:  

/S/ Bronson Crouch

 

Name: Bronson Crouch

Title: Managing Member


SB2A MANAGEMENT LLC
By:  

/S/ Bronson Crouch

Name: Bronson Crouch
Title: Managing Member
BRONSON CROUCH

/S/ Bronson Crouch