Sec Form 13G Filing - HighSage Ventures LLC filing for IAC INC (IAC) - 2023-11-13

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 13G
(Rule 13d-102)

INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
TO RULES 13d-1(b),(c) AND (d) AND AMENDMENTS THERETO FILED
PURSUANT TO RULE 13d-2
(Amendment No.) *

IAC Inc.
(Name of Issuer)
 
Common Stock, $0.0001 par value
(Title of Class of Securities)
 
44891N208
(CUSIP Number)
 
November 1, 2023
(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 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.



CUSIP No. 44891N208

1
NAMES OF REPORTING PERSONS
 
 
HighSage Ventures LLC
 
 
 
 
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
   
(a)☐
   
(b)
 
 
3
SEC USE ONLY
 
 
 
 
 
 
 
4
CITIZENSHIP OR PLACE OF ORGANIZATION
 
 
Delaware
 
 
 
 
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
5
SOLE VOTING POWER
 
 
0
 
 
 
 
6
SHARED VOTING POWER
 
 
4,048,153
 
 
 
 
7
SOLE DISPOSITIVE POWER
 
 
0
 
 
 
 
8
SHARED DISPOSITIVE POWER
 
 
4,048,153
 
 
 
 
9
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 
 
4,048,153
 
 
 
 
10
CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
 
 
 
 
 
 
11
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
 
 
5.1% *
 
 
 
 
12
TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
 
 
OO
 
 
 
 

* Based on 80,061,822 shares of Common Stock outstanding as of November 3, 2023, as reported in the Issuer’s Report on Form 10-Q for the period ended September 30, 2023, filed with the Securities and Exchange Commission on November 7, 2023.

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CUSIP No. 44891N208
 
1
NAMES OF REPORTING PERSONS
 
 
Jennifer Stier
 
 
 
 
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
   
(a)☐
    ;
(b)
 
 
3
SEC USE ONLY
 
 
 
 
 
 
 
4
CITIZENSHIP OR PLACE OF ORGANIZATION
 
 
United States
 
 
 
 
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
5
SOLE VOTING POWER
 
 
0
 
 
 
 
6
SHARED VOTING POWER
 
 
4,155,180
 
 
 
 
7
SOLE DISPOSITIVE POWER
 
 
0
 
 
 
 
8
SHARED DISPOSITIVE POWER
 
 
4,155,180
 
 
 
 
9
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 
 
4,155,180
 
 
 
 
10
CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
 
 
 
 
 
 
11
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
 
 
5.2% *
 
 
 
 
12
TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
 
 
HC
 
 
 
 
 
* Based on 80,061,822 shares of Common Stock outstanding as of November 3, 2023, as reported in the Issuer’s Report on Form 10-Q for the period ended September 30, 2023, filed with the Securities and Exchange Commission on November 7, 2023.

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CUSIP No. 44891N208

SCHEDULE 13G

Item 1(a)
Name of Issuer
IAC Inc.

Item 1(b)
Address of Issuer’s Principal Executive Offices
555 West 18th Street, New York, NY 10011

Item 2(a)
Name of Persons Filing
This statement is filed on behalf of HighSage Ventures LLC and Jennifer Stier (together, the “Reporting Persons”). The shares of Common Stock reported herein are directly held by certain limited liability companies managed by either HighSage Ventures LLC or Jennifer Stier. Jennifer Stier is the Manager of HighSage Ventures LLC. The Joint Filing Agreement between the Reporting Persons is attached hereto as Exhibit 1.

Item 2(b)
Address of Principal Business Office or, if none, Residence
For each Reporting Person: 200 Clarendon Street, 59th Floor, Boston, MA 02116

Item 2(c)
Citizenship or Place of Organization
HighSage Ventures LLC: Delaware
Jennifer Stier: United States

Item 2(d)
Title of Class of Securities
Common Stock, par value $0.0001 per share (“Common Stock”)

Item 2(e)
CUSIP Number
44891N208

Item 3
If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
Not Applicable.

Item 4
Ownership
The information requested in this item is incorporated herein by reference to the cover pages to this Schedule 13G.

Item 5
Ownership of Five Percent or Less of a Class
Not Applicable.

Item 6
Ownership of More than Five Percent on Behalf of Another Person
The shares of Common Stock reported herein are directly held by certain limited liability companies, each of which has the right to receive or the power to direct the receipt of dividends from, or proceeds from the sale of, the shares of Common Stock that it directly owns.

Item 7
Identification and Classification of the Subsidiary which Acquired the Security Being Reported on by the Parent Holding Company
Not Applicable.

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CUSIP No. 44891N208

Item 8
Identification and Classification of Members of the Group
Not Applicable.

Item 9
Notice of Dissolution of Group
Not Applicable.

Item 10
Certification
By signing below the undersigned certify that, to the best of their knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the Issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having such purpose or effect.
 
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CUSIP No. 44891N208

SIGNATURES

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

Dated: November 13, 2023
 
   
 
HIGHSAGE VENTURES LLC
   
 
By:
/s/ Matthew P. O’Connor
 
 
Name:
Matthew P. O’Connor
 
Title:
Chief Legal Officer
     
 
JENNIFER STIER
   
 
By:
/s/ Jennifer Stier
 
   
Jennifer Stier
 
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CUSIP No. 44891N208

EXHIBIT 1

JOINT FILING AGREEMENT

The undersigned hereby agree that the statement on Schedule 13G to which this Agreement is annexed as Exhibit 1, and any amendments thereto, is and will be filed on behalf of each of them in accordance with the provisions of Rule 13d-1(k) under the Securities Exchange Act of 1934, as amended.

Dated: November 13, 2023
 
   
 
HIGHSAGE VENTURES LLC
   
 
By:
/s/ Matthew P. O’Connor
 
 
Name:
Matthew P. O’Connor
 
Title:
Chief Legal Officer
     
 
JENNIFER STIER
   
 
By:
/s/ Jennifer Stier
 
   
Jennifer Stier


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