Sec Form 13D Filing - Goldstone Yisroel Mordechai filing for Rent the Runway Inc. (RENT) - 2024-01-17

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>>

 

SECURITIES AND EXCHANGE COMMISSION  
Washington, D.C. 20549  
   
SCHEDULE 13D
 
Under the Securities Exchange Act of 1934
(Amendment No. )*
 

Rent the Runway, Inc.

(Name of Issuer)
 

 

Class A common stock, par value $0.001 per share

(Title of Class of Securities)
 

76010Y103

(CUSIP Number)
 

Eleazer Klein, Esq.

Adriana Schwartz, Esq.

Schulte Roth & Zabel LLP

919 Third Avenue

New York, NY 10022

(212) 756-2000

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

January 8, 2024

(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 Rule 13d-1(e), Rule 13d-1(f) or Rule 13d-1(g), check the following box. [ ]

 

(Page 1 of 14 Pages)

______________________________

* 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. 76010Y103SCHEDULE 13DPage 2 of 14 Pages

 

1

NAME OF REPORTING PERSON

Yisroel Mordechai Goldstone

2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a) ¨

(b) ¨

3 SEC USE ONLY
4

SOURCE OF FUNDS

PF

5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING 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:		 7

SOLE VOTING POWER

5,764,186 (including 1,034,900 shares of Class A Common Stock issuable upon the exercise of options)

8

SHARED VOTING POWER

-0-

9

SOLE DISPOSITIVE POWER

5,764,186 (including 1,034,900 shares of Class A Common Stock issuable upon the exercise of options)

10

SHARED DISPOSITIVE POWER

-0-

11

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON

5,764,186 (including 1,034,900 shares of Class A Common Stock issuable upon the exercise of options)

12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES ¨
13

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

8.6%

14

TYPE OF REPORTING PERSON

IN

         

 

CUSIP No. 76010Y103SCHEDULE 13DPage 3 of 14 Pages

  

Item 1. SECURITY AND ISSUER
   
  This statement on Schedule 13D (the “Schedule 13D”) relates to class A common stock, par value $0.001 per share (the “Class A Common Stock”) of Rent the Runway, Inc., a Delaware corporation (the “Issuer”). The Issuer’s principal executive offices are located at 10 Jay Street, Brooklyn, NY 11201.

 

Item 2. IDENTITY AND BACKGROUND
   
(a) This statement is filed by Yisroel Mordechai Goldstone (“Mr. Goldstone” or the “Reporting Person”) with respect to the shares of Class A Common Stock directly held by (and underlying options directly held by) him.
   
(b) The principal address of the Reporting Person is [6400 Av. Isla Verde #12A, Carolina, PR 00979].
   
(c) The principal occupation of Mr. Goldstone is software developer.
   
(d) The Reporting Person has not, during the last five years, been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors).
   
(e) The Reporting Person has not, during the last five years, been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and, as a result of such proceeding, was, or is subject to, a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, Federal or State securities laws or finding any violation with respect to such laws.
   
(f) Mr. Goldstone is a citizen of the United States.

 

Item 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION
   
  The aggregate purchase price of the shares of Class A Common Stock (and options to purchase Class A Common Stock) reported herein was approximately $3,258,518. Such securities were acquired with personal funds of the Reporting Person.
   
  The Reporting Person may effect purchases of shares of Class A Common Stock through margin accounts maintained for him with brokers, which extend margin credit as and when required to open or carry positions in his margin accounts, subject to applicable federal margin regulations, stock exchange rules and such firms’ credit policies. Positions in shares of Class A Common Stock may be held in margin accounts and may be pledged as collateral security for the repayment of debit balances in such accounts. Since other securities may be held in such margin accounts, it may not be possible to determine the amounts, if any, of margin used to purchase shares of Class A Common Stock.

 

CUSIP No. 76010Y103SCHEDULE 13DPage 4 of 14 Pages

  

Item 4. PURPOSE OF TRANSACTION
   
  The Reporting Person believes the securities of the Issuer are undervalued and represent an attractive investment opportunity.  The Reporting Person may consider, explore and/or develop plans and/or make proposals (whether preliminary or firm) with respect to, among other things, potential changes in, the Issuer’s operations, management, organizational documents, the composition of the board of directors of the Issuer (the “Board”), ownership, capital or corporate structure, dividend policy, and strategy and plans of the Issuer, as well as a potential strategic review or sale process involving the Issuer or certain of the Issuer’s businesses or assets, including transactions in which the Reporting Person may seek to participate and potentially engage in.  The Reporting Person intends to communicate with the Issu er’s management and Board about a broad range of operational and strategic matters (including the matters set forth above) and to communicate with other shareholders or third parties, including potential acquirers, service providers and financing sources regarding the foregoing.  The Reporting Person may exchange information with any such persons pursuant to appropriate confidentiality or similar agreements which may include customary standstill provisions.  He may also take steps to explore and prepare for various plans and actions, and propose transactions, before forming an intention to engage in such plans or actions or proceed with such transactions.
   
  The Reporting Person intends to review its investment in the Issuer on a continuing basis and depending upon various factors, including without limitation, the Issuer’s financial position and strategic direction, the outcome of any discussions referenced above, overall market conditions, other available investment opportunities, and the availability of securities of the Issuer at prices that would make the purchase or sale of such securities desirable, the Reporting Person may endeavor (i) to increase or decrease their position in the Issuer through, among other things, the purchase or sale of Class A Common Stock and/or other equity, debt, derivative securities or other instruments that are convertible into Class A Common Stock, or are based upon or relate to the value of the Class A Common Stock or the Issuer (collectively, the “Securities”) on the open market or in private transactions, including through a trading plan created under Rule 10b5-1(c) or otherwise, on such terms and at such times as the Reporting Person may deem advisable and/or (ii) to enter into transactions that increase or hedge its economic exposure to the Class A Common Stock or other Securities without affecting their beneficial ownership of the shares of Class A Common Stock or other Securities.  In addition, the Reporting Person may, at any time and from time to time, (i) review or reconsider its position and/or change its purpose and/or formulate plans or proposals with respect thereto and (ii) propose or consider one or more of the actions described in subparagraphs (a) - (j) of Item 4 of Schedule 13D.

 

CUSIP No. 76010Y103SCHEDULE 13DPage 5 of 14 Pages

 

 

Item 5. INTEREST IN SECURITIES OF THE ISSUER
   
(a) See rows (11) and (13) of the cover page to this Schedule 13D for the aggregate number of shares of Class A Common Stock and percentage of the shares of Class A Common Stock beneficially owned by the Reporting Person.  The percentage used in this Schedule 13D is calculated based upon 67,223,096 shares of Class A Common Stock outstanding as of November 30, 2023, as reported in the Issuer’s Quarterly Report on Form 10-Q for the quarterly period ended October 31, 2023, filed with the Securities and Exchange Commission (the “SEC”) on December 6, 2023.
   
(b) See rows (7) through (10) of the cover page to this Schedule 13D for the number of shares of Class A Common Stock as to which the Reporting Person has the sole or shared power to vote or direct the vote and sole or shared power to dispose or to direct the disposition.
   
(c) The transactions in the shares of Class A Common Stock within the past sixty (60) days by the Reporting Person, which were all in the open market, are set forth in Schedule A, and are incorporated herein by reference.
   
(d) No person other than the Reporting Person is known to have the right to receive, or the power to direct the receipt of dividends from, or proceeds from the sale of, such shares of Class A Common Stock.
   
(e) Not applicable.

 

Item 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT TO SECURITIES OF THE ISSUER
   
  The Reporting Person beneficially owns 10,349 call options for 1,034,900 shares of Class A Common Stock with a strike price of $1 and which have an expiration date of January 19, 2024.
   
  Except as otherwise set forth herein, the Reporting Person has no contracts, arrangements, understandings or relationships with any person with respect to any securities of the Issuer.

 

Item 7. MATERIAL TO BE FILED AS EXHIBITS
   
  Not applicable.

 

 

CUSIP No. 76010Y103SCHEDULE 13DPage 6 of 14 Pages

 

SIGNATURES

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

Date: January 17, 2024

 

/s/ Yisroel Mordechai Goldstone  
YISROEL MORDECHAI GOLDSTONE  

 

 

 

CUSIP No. 76010Y103SCHEDULE 13DPage 7 of 14 Pages

SCHEDULE A

 

This Schedule sets forth information with respect to each purchase and sale of shares of Class A Common Stock which were effectuated by the Reporting Person within the past sixty (60) days. All transactions were effectuated in the open market through a broker.

 

Trade Date

Shares Purchased

(Sold)

Price Per Share

($)

12/5/2023 10,682 0.646444729
12/5/2023 10,000 0.6419662
12/5/2023 10,000 0.64493923
12/5/2023 4,741 0.650430901
12/5/2023 4,000 0.669
12/5/2023 10,000 0.6692
12/5/2023 27,553 0.677587595
12/5/2023 10,000 0.67885122
12/5/2023 13,024 0.67886144
12/7/2023 10,000 0.63995669
12/7/2023 7,075 0.64
12/7/2023 10,000 0.649409
12/11/2023 10,000 0.67644
12/11/2023 10,000 0.6695
12/11/2023 10,000 0.669499
12/11/2023 59,416 0.678719089
12/11/2023 40,584 0.702140745
12/11/2023 10,000 0.685
12/11/2023 10,000 0.717019
12/11/2023 10,000 0.717659
12/11/2023 10,000 0.695
12/11/2023 10,000 0.7112
12/11/2023 10,000 0.711119
12/11/2023 10,000 0.700756
12/11/2023 10,000 0.702
12/11/2023 25,000 0.699892
12/11/2023 16,660 0.7
12/11/2023 20,000 0.70936
12/11/2023 501 0.7095
12/11/2023 1,000 0.71565
12/11/2023 7,500 0.73
12/11/2023 5,944 0.75

 

CUSIP No. 76010Y103SCHEDULE 13DPage 8 of 14 Pages

 

12/11/2023 20,000 0.77
12/11/2023 20,000 0.7912751
12/11/2023 20,000 0.7998
12/11/2023 20,000 0.799884035
12/11/2023 20,000 0.800931
12/11/2023 20,000 0.79905785
12/12/2023 10,000 0.739543
12/12/2023 200 0.7404
12/12/2023 603 0.750066335
12/12/2023 500 0.768
12/12/2023 10,000 0.789188
12/12/2023 10,000 0.7838957
12/12/2023 30,000 0.789066667
12/12/2023 26,957 0.788998405
12/12/2023 10,000 0.81
12/12/2023 1,000 0.7991
12/12/2023 1,000 0.7944
12/12/2023 30,000 0.800162
12/12/2023 3,788 0.80999905
12/12/2023 10,000 0.817455
12/12/2023 10,000 0.8279981
12/12/2023 10,000 0.83113812
12/12/2023 10,000 0.83579623
12/12/2023 30,000 0.8397503
12/12/2023 30,000 0.84664671
12/12/2023 10,000 0.82152296
12/12/2023 10,000 0.818353
12/12/2023 10,000 0.8254055
12/12/2023 10,000 0.82785593
12/12/2023 10,000 0.839448
12/12/2023 10,000 0.839135625
12/12/2023 10,000 0.8393185
12/12/2023 10,000 0.83342384
12/12/2023 10,000 0.82624825
12/12/2023 10,000 0.827178025
12/12/2023 10,000 0.8292995
12/12/2023 10,000 0.8286495
12/12/2023 10,000 0.83

 

CUSIP No. 76010Y103SCHEDULE 13DPage 9 of 14 Pages

  

12/12/2023 10,000 0.830522
12/12/2023 30,000 0.830097713
12/12/2023 10,000 0.828725
12/12/2023 10,000 0.81021045
12/12/2023 10,000 0.78424281
12/12/2023 10,000 0.79999949
12/13/2023 300 0.7702
12/13/2023 6,783 0.7712
12/14/2023 15,000 0.808741867
12/14/2023 10,000 0.819105
12/14/2023 10,000 0.81819037
12/20/2023 (2,080) 0.679976827
12/20/2023 (3,436) 0.679189348
12/22/2023 (1,600) 0.6710125
1/8/2024 10,000 0.4508
1/8/2024 10,000 0.44994144
1/8/2024 4,193 0.44841202
1/8/2024 35,134 0.4557522
1/8/2024 12,085 0.4683
1/8/2024 100,000 0.4698
1/8/2024 100,000 0.4826
1/8/2024 200 0.486
1/8/2024 43,927 0.4999
1/8/2024 5,800 0.502317241
1/8/2024 3,000 0.509
1/8/2024 50,000 0.5285172
1/8/2024 2,050 0.52
1/8/2024 24,854 0.526901959
1/8/2024 8,212 0.528
1/8/2024 28,995 0.53002775
1/8/2024 50,000 0.54
1/8/2024 50,000 0.54902346
1/8/2024 100,000 0.55
1/8/2024 50,000 0.5475692
1/8/2024 50,000 0.55966868
1/8/2024 50,000 0.56509864
1/8/2024 50,000 0.5474128
1/8/2024 50,000 0.544620256

 

CUSIP No. 76010Y103SCHEDULE 13DPage 10 of 14 Pages

  

1/8/2024 50,000 0.5527184
1/8/2024 50,000 0.55289165
1/8/2024 50,000 0.5597264
1/8/2024 50,000 0.559444512
1/8/2024 50,000 0.5644112
1/8/2024 1,934 0.498498345
1/8/2024 5 0,000 0.522854108
1/8/2024 13,008 0.522870649
1/8/2024 9,400 0.53
1/8/2024 42,849 0.5497
1/8/2024 13,988 0.5564
1/8/2024 2,246 0.5688
1/8/2024 20,000 0.5951
1/8/2024 20,000 0.581
1/8/2024 20,000 0.589315
1/8/2024 2,500 0.585
1/8/2024 20,000 0.6
1/8/2024 20,000 0.555
1/8/2024 2,682 0.554850858
1/8/2024 20,000 0.5695998
1/8/2024 2,506 0.5603417
1/8/2024 20,000 0.577999975
1/8/2024 1,000 0.5848
1/8/2024 16,500 0.576863636
1/8/2024 9,142 0.5497
1/8/2024 20,000 0.5599
1/8/2024 20,000 0.56490887
1/8/2024 8,600 0.550557035
1/8/2024 5,803 0.557688678
1/8/2024 7,391 0.56219356
1/8/2024 20,000 0.5653448
1/8/2024 20,000 0.56972386
1/9/2024 10,000 0.6
1/9/2024 8,700 0.6001
1/9/2024 10,000 0.620751
1/9/2024 10,000 0.620799
1/9/2024 10,000 0.62973
1/9/2024 10,000 0.62947432

 

CUSIP No. 76010Y103SCHEDULE 13DPage 11 of 14 Pages

  

1/9/2024 10,000 0.63
1/9/2024 10,000 0.636
1/9/2024 20,000 0.6132
1/9/2024 20,000 0.6179
1/9/2024 30,000 0.613
1/9/2024 30,000 0.613501333
1/9/2024 10,700 0.618206542
1/9/2024 3,398 0.6319
1/9/2024 10,000 0.6399
1/9/2024 10,000 0.64397498
1/9/2024 10,000 0.645
1/9/2024 4,401 0.64059307
1/9/2024 9,949 0.644712785
1/9/2024 1,202 0.6451
1/9/2024 5,131 0.6477
1/9/2024 9,900 0.66969697
1/9/2024 10,000 0.6862
1/9/2024 2,410 0.69
1/9/2024 10,000 0.6962
1/9/2024 10,000 0.699838
1/9/2024 10,000 0.6999514
1/9/2024 10,000 0.7
1/9/2024 10,000 0.70944
1/9/2024 10,000 0.71
1/9/2024 10,000 0.70996
1/9/2024 10,000 0.70996
1/9/2024 10,000 0.715
1/9/2024 10,000 0.71986268
1/9/2024 100,000 0.7273
1/9/2024 14,092 0.706795196
1/9/2024 50,000 0.748093794
1/9/2024 50,000 0.76880454
1/9/2024 50,000 0.762475
1/9/2024 50,000 0.7599376
1/9/2024 50,000 0.77
1/9/2024 50,000 0.783256
1/9/2024 50,000 0.779453646
1/9/2024 50,000 0.7680228

 

CUSIP No. 76010Y103SCHEDULE 13DPage 12 of 14 Pages

  

1/9/2024 50,000 0.7698888
1/9/2024 50,000 0.760679916
1/9/2024 10,000 0.7270546
1/9/2024 26,771 0.715094169
1/9/2024 28,803 0.729414991
1/9/2024 6,693 0.7326
1/9/2024 6,009 0.747247795
1/9/2024 20,000 0.77102769
1/9/2024 3,694 0.72
1/9/2024 50,000 0.7271916
1/9/2024 50,000 0.7285
1/9/2024 50,000 0.72949841
1/9/2024 7,700 0.6835
1/9/2024 20,000 0.699141
1/9/2024 20,000 0.6997765
1/9/2024 20,000 0.7020635
1/9/2024 9,336 0.70487832
1/9/2024 40,900 0.7127
1/9/2024 2,583 0.6981
1/9/2024 800 0.6986
1/9/2024 20,000 0.699984
1/9/2024 10,000 0.7164
1/9/2024 10,000 0.663999
1/9/2024 10,000 0.664
1/9/2024 13,857 0.6621
1/9/2024 10,000 0.66429788
1/10/2024 43,868 0.67
1/10/2024 30,000 0.71
1/10/2024 10,000 0.71887631
1/10/2024 10,000 0.72193618
1/10/2024 10,000 0.73
1/10/2024 6,902 0.705904549
1/10/2024 10,000 0.71397
1/10/2024 10,000 0.714127
1/10/2024 10,000 0.7236
1/10/2024 2,400 0.722014167
1/10/2024 10,000 0.743804
1/10/2024 10,000 0.7384

 

CUSIP No. 76010Y103SCHEDULE 13DPage 13 of 14 Pages

  

1/10/2024 10,000 0.738276
1/10/2024 3,078 0.736895582
1/10/2024 100 0.745
1/10/2024 200 0.747
1/10/2024 10,000 0.75991656
1/10/2024 10,000 0.77104
1/10/2024 10,000 0.7704278
1/10/2024 10,000 0.76
1/10/2024 300 0.762
1/10/2024 10,000 0.7759
1/10/2024 10,000 0.775854
1/10/2024 1,461 0.777599589
1/10/2024 10,000 0.789912
1/10/2024 1,200 0.7632
1/10/2024 200 0.7693
1/10/2024 200 0.7714
1/10/2024 10,000 0.78
1/10/2024 8,200 0.779706098
1/10/2024 3,993 0.7679
1/10/2024 700 0.7772
1/10/2024 2,700 0.774
1/10/2024 10,000 0.78
1/10/2024 10,000 0.77
1/10/2024 10,000 0.7502
1/10/2024 20,000 0.76
1/10/2024 10,000 0.7617792
1/10/2024 60,020 0.74
1/10/2024 10,000 0.74801409
1/11/2024 10,000 0.735
1/11/2024 10,000 0.7395985
1/11/2024 110,100 0.74
1/11/2024 10,921 0.75
1/11/2024 20,000 0.77158666
1/11/2024 30,000 0.777748873
1/11/2024 10,000 0.72
1/11/2024 10,000 0.7473057
1/11/2024 10,000 0.749999
1/11/2024 10,000 0.74999673

 

CUSIP No. 76010Y103SCHEDULE 13DPage 14 of 14 Pages

  

1/11/2024 20,000 0.76
1/11/2024 10,000 0.75
1/11/2024 10,000 0.739975
1/11/2024 10,000 0.74891
1/11/2024 10,000 0.748523
1/11/ 2024 10,000 0.74733294
1/11/2024 5,756 0.734976112
1/11/2024 10,000 0.7454795
1/11/2024 8,000 0.73
1/11/2024 1,264 0.7227
1/11/2024 10,000 0.732667