Sec Form 13G Filing - Value Base Ltd. filing for Valens Semiconductor Ltd. (VLN) - 2024-05-06

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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

 

SCHEDULE 13G

 

Under the Securities Exchange Act of 1934

 

(Name of Issuer)

 

(Title of Class of Securities)

 

(CUSIP Number)

 

(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 (however, see the Notes).

 

CUSIP No. M9607U115

Schedule 13G

Page 2 of 10

(*) The beneficial ownership of the securities reported herein is described in Item 4(a).

(*) The beneficial ownership of the securities reported herein is described in Item 4(a).

(*) The beneficial ownership of the securities reported herein is described in Item 4(a).

(*) The beneficial ownership of the securities reported herein is described in Item 4(a).

1.	NAME OF REPORTING PERSON Value Base Fund Invest 1, Limited Partnership
2.	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (see instructions) (a)    ☐ (b)    ☒
3.	SEC USE ONLY
4.	CITIZENSHIP OR PLACE OF ORGANIZATION   Israel

NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH	5.	SOLE VOTING POWER   0
	6.	SHARED VOTING POWER   5,429,294 (*)
	7.	SOLE DISPOSITIVE POWER   0
	8.	SHARED DISPOSITIVE POWER   5,429,294 (*)

9.	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 5,429,294 (*)
10.	CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (see instructions)     ☐
11.	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 5.16% (*) (**)
12.	TYPE OF REPORTING PERSON (see instructions) PN

Item 1.

 

 

Item 2.

 

 

Item 3.  If this statement is filed pursuant to §§240.13d-1(b) or 240.13d-2(b) or (c):

 

Not applicable.

 

Item 4.  Ownership.

 

The securities reported herein are beneficially owned as follows: (i) 10,449,348 ordinary shares owned directly by Value Base Fund Limited Partnership, a Cayman Islands limited partnership, and (ii) 5,429,294 ordinary shares owned directly by Value Base Fund Invest 1, Limited Partnership, an Israeli limited partnership.

 

The general partner of Value Base Fund Limited Partnership is Value Base Fund General Partner Ltd., an Israeli private company (the "VBF General Partner"), which has delegated its management responsibilities to a management company, Value Base Fund Management Ltd., an Israeli private company (the "Management Company").

 

The general partner of Value Base Fund Invest 1, Limited Partnership is Value Base Invest Management Ltd., an Israeli private company (the "VBFI General Partner").

 

Each of the VBF General Partner, the VBFI General Partner and the Management Company is controlled by Value Base Ltd., which directly and indirectly holds a majority of the shares of each company. Value Base Ltd., an Israeli company, is controlled by Messrs Victor Shamrich and Ido Nouberger.

 

This Statement shall not be construed as an admission by any of the Reporting Persons that it is the beneficial owner of any of the securities covered by this Statement, and each Reporting Person disclaims beneficial ownership of any such securities. In addition, the Reporting Persons and other entities named in this Schedule 13G may be deemed to constitute a "group" for purposes of Section 13(d) of the Securities Exchange Act of 1934. Neither the filing of this Schedule 13G nor any of its contents shall be deemed to constitute an admission that a group exists for purposes of Section 13(d) of the Securities Exchange Act of 1934 or for any other purpose, and each of the Reporting Persons and other entities named in this Schedule 13G disclaims the existence of any such group.

 

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.

 

Not Applicable. 

 

Item 7.  Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company.

 

 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.

 

By signing below I certify that, to the best of my 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 that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.

 

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.

 

	/s/ Ido Nouberger	/s/ Victor Shamrich
	Value Base Fund Limited Partnership By: Value Base Fund Management Ltd.
	By: Ido Nouberger*	Victor Shamrich*
	Title: Director	Director

	/s/ Ido Nouberger	/s/ Victor Shamrich
	Value Base Fund Invest 1, Limited Partnership By: Value Base Invest Management Ltd.
	By: Ido Nouberger**	Victor Shamrich**
	Title: Director	Director

 

EXHIBIT NO.	DESCRIPTION
Exhibit 1	Joint Filing Agreement by and among the Reporting Persons
Exhibit 2	Unanimous Written Resolutions of the Directors of the Company (dated September 27, 2023) (incorporated herein by reference to Exhibit 2 to Schedule 13G filed by the Reporting Persons on September 28, 2023)
Exhibit 3	Unanimous Written Resolutions of the Directors of the Company (dated May 6, 2024)

 

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