Page 4 of 7 – SEC Filing
| Item 1. | Security and Issuer |
| This Amendment No. 3 to Schedule 13D (the “Amendment No. 3”) relates to the Common Stock, par value $0.01 per share (the “Common Stock”), of Planet Payment, Inc., a Delaware corporation (the “Company”), which has its principal executive offices at 670 Long Beach Boulevard, Long Beach, NY 11561. This Amendment No. 3 amends and supplements, as set forth below, the information contained in items 1, 3, 5 and 6 of the Schedule 13D filed by the Reporting Persons with respect to the Company on May 30, 2017, as amended by Amendment No. 1 thereto filed by the Reporting Persons on June 21, 2017, and as amended by Amendment No. 2 thereto filed by the Reporting Persons on July 12, 2017 (as so amended, the “Schedule 13D”). All capitalized terms used herein but not defined herein have the meanings set forth in the Schedule 13D. Except as amended by this Amendment No. 3, all information contained in the Schedule 13D is, after reasonable inquiry and to the best of the Reporting Persons’ knowledge and belief, complete and correct as of the date of this Amendment No. 3. | |
| Item 3. | Source and Amount of Funds or Other Consideration |
| Item 3 of the Schedule 13D is hereby amended The total purchase price for the 4,386,121 | |
| Item 5. | Interest in Securities of the Issuer |
| Item 5 of the Schedule 13D is hereby amended to read in its entirety as follows: | |
| The information concerning percentages of ownership set forth below is based on 49,888,019 shares of Common Stock outstanding as of July 31, 2017 in the Company’s Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2017. | |
| Discovery Equity Partners beneficially owns 4,386,121 shares of Common Stock as of August 11, 2017, which represents 8.8% of the outstanding Common Stock. | |
| Discovery Group beneficially owns 4,386,121 shares of Common Stock as of August 11, 2017, which represents 8.8% of the outstanding Common Stock. | |
| Discovery Group is the investment manager of Discovery Equity Partners. Discovery Group exercises ultimate voting and dispositive power of the securities held by Discovery Equity Partners. As a consequence, Discovery Group may be deemed to share beneficial ownership of all of the shares of Common Stock owned by Discovery Equity Partners. Voting and disposition decisions at Discovery Group with respect to the investment of such securities are made by a five-person investment committee (the “Committee”) which makes such investment decisions by majority vote. No member of the Committee may act individually to vote or sell shares of Common Stock held by Discovery Equity Partners, nor does any such member have a veto right concerning the vote or sale of any such common stock. Accordingly, no individual member of the Committee is deemed to beneficially own, and each individual member of the Committee expressly disclaims beneficial ownership of, within the meaning of Rule 13d-3, any shares of Common Stock held by Discovery Equity Partners solely by virtue of the fact that he or she is a member of the Committee. |
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