Colin Moran and his fund Abdiel Capital Advisors just can’t get enough of MINDBODY Inc (NASDAQ:MB). According to a recent regulatory filing, the fund has increased its holding in the stock to 3.29 million shares from the 2.81 million shares it reported holding at the end of July. Abdiel Capital’s current position accounts for roughly 16.7% of the company’s outstanding stock.
MINDBODY Inc (NASDAQ:MB) is a software company that offers cloud-based management software and payment services for the wellness services industry. After recovering from a sell-off at the start of the year, the stock embarked on a rally, advancing by 25% through yesterday’s closing price of $19.18 per share. In the second quarter, the company registered a 35% rise in revenue to $33.6 million, while posting an adjusted loss of $0.10 per share, narrower than the $0.21 loss that it posted a year earlier. The company also noted a 22% year-over-year increase in the number of subscribers and a 9% boost in average monthly revenue per subscriber.
“We had a successful second quarter highlighted by robust growth in both brick and mortar subscribers and payments volume. These results demonstrate the ongoing strength of the wellness services market we serve and we look forward to continuing to extend our market leadership,” commented Brett White, Chief Financial Officer and Chief Operating Officer of MINDBODY.
MINDBODY Inc (NASDAQ:MB) was not a very popular stock among the hedge funds in our database on March 31, as only six of them had reported holding a long position in the company as of that time, down from 12 three months earlier. According to its latest 13F filing, Jack Ripsteen‘s Potrero Capital Research held 104,973 shares of MINDBODY at the end of March. Jericho Capital Asset Management, run by Josh Resnick, held 700,000 shares on March 31, unchanged during the first quarter.
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You can access the original SEC filing by clicking here.
Ownership Summary Table
Name | Sole Voting Power | Shared Voting Power | Sole Dispositive Power | Shared Dispositive Power | Aggregate Amount Owned Power | Percent of Class |
---|---|---|---|---|---|---|
Abdiel Qualified Master Fund | 0 | 3,140,664 | 0 | 3,140,664 | 3,140,664 | 15.9% |
Abdiel Capital | 0 | 152,053 | 0 | 152,053 | 152,053 | 0.8% |
Abdiel Capital Management | 0 | 3,292,717 | 0 | 3,292,717 | 3,292,717 | 16.7% |
Abdiel Capital Advisors | 0 | 3,292,717 | 0 | 3,292,717 | 3,292,717 | 16.7% |
Colin T. Moran | 0 | 3,292,717 | 0 | 3,292,717 | 3,292,717 | 16.7% |
Page 1 of 8 – SEC Filing
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
SCHEDULE 13D
(Rule 13d-101)
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(Amendment No. 6)
MINDBODY,
Inc.
(Name of Issuer)
Class A Common Stock, par value $0.000004 per share
(Title of Class of Securities)
60255W105
(CUSIP Number)
with a copy to:
Abdiel Capital 410 Park Avenue, Suite 930 New York, NY 10022 Attn: Tel: (646) 496-9202 | Ropes & Gray LLP 1211 Avenue of the Americas New York, NY 10036 Attn: Tel: (212) 596-9000 | |
(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)
August 4, 2016
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 Rule 13d-7 for
other parties to whom copies are to be sent.
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).
Page 2 of 8 – SEC Filing
CUSIP No. 60255W105
1. | NAME OF Abdiel Qualified Master Fund, LP I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY) (VOLUNTARY) | |||||
2. | CHECK THE APPROPRIATE BOX IF A MEMBER (a) ¨ (b) ¨ | |||||
3. | SEC USE ONLY | |||||
4. | SOURCE OF FUNDS WC | |||||
5. | CHECK BOX IF DISCLOSURE OF LEGAL | |||||
6. | CITIZENSHIP OR PLACE OF Cayman Islands | |||||
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH | 7. | SOLE VOTING POWER 0 | ||||
8. | SHARED VOTING POWER 3,140,664 | |||||
9. | SOLE DISPOSITIVE POWER 0 | |||||
10. | SHARED DISPOSITIVE POWER 3,140,664 | |||||
11. | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 3,140,664 | |||||
12. | CHECK BOX IF THE AGGREGATE AMOUNT IN | |||||
13. | PERCENT OF CLASS REPRESENTED BY AMOUNT 15.9%* | |||||
14. | TYPE OF REPORTING PERSON PN |
* | Based on 19,732,441 shares of the Issuers Class A common stock, par value $0.000004 per share (the Common Stock), outstanding as of July 26, 2016, as reported in the Issuers Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on August 1, 2016. |
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Page 3 of 8 – SEC Filing
CUSIP No. 60255W105
1. | NAME OF Abdiel Capital, LP I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY) (VOLUNTARY) | |||||
2. | CHECK THE APPROPRIATE BOX IF A MEMBER (a) ¨ (b) ¨ | |||||
3. | SEC USE ONLY | |||||
4. | SOURCE OF FUNDS WC | |||||
5. | CHECK BOX IF DISCLOSURE OF LEGAL | |||||
6. | CITIZENSHIP OR PLACE OF Delaware | |||||
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH | 7. | SOLE VOTING POWER 0 | ||||
8. | SHARED VOTING POWER 152,053 | |||||
9. | SOLE DISPOSITIVE POWER 0 | |||||
10. | SHARED DISPOSITIVE POWER 152,053 | |||||
11. | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 152,053 | |||||
12. | CHECK BOX IF THE AGGREGATE AMOUNT IN | |||||
13. | PERCENT OF CLASS REPRESENTED BY AMOUNT 0.8%* | |||||
14. | TYPE OF REPORTING PERSON PN |
* | Based on 19,732,441 shares of Common Stock outstanding as of July 26, 2016, as reported in the Issuers Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on August 1, 2016. |
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Page 4 of 8 – SEC Filing
CUSIP No. 60255W105
1. | NAME OF Abdiel Capital Management, LLC I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY) (VOLUNTARY) | |||||
2. | CHECK THE APPROPRIATE BOX IF A MEMBER (a) ¨ (b) ¨ | |||||
3. | SEC USE ONLY | |||||
4. | SOURCE OF FUNDS AF | |||||
5. | CHECK BOX IF DISCLOSURE OF LEGAL | |||||
6. | CITIZENSHIP OR PLACE OF Delaware | |||||
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH | 7. | SOLE VOTING POWER 0 | ||||
8. | SHARED VOTING POWER 3,292,717** | |||||
9. | SOLE DISPOSITIVE POWER 0 | |||||
10. | SHARED DISPOSITIVE POWER 3,292,717** | |||||
11. | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 3,292,717** | |||||
12. | CHECK BOX IF THE AGGREGATE AMOUNT IN | |||||
13. | PERCENT OF CLASS REPRESENTED BY AMOUNT 16.7%* | |||||
14. | TYPE OF REPORTING PERSON OO |
* | Based on 19,732,441 shares of Common Stock outstanding as of July 26, 2016, as reported in the Issuers Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on August 1, 2016. |
** | Consists of 3,140,664 shares of Common Stock held by Abdiel Qualified Master Fund, LP and 152,053 shares of Common Stock held by Abdiel Capital, LP. |
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Page 5 of 8 – SEC Filing
CUSIP No. 60255W105
1. | NAME OF Abdiel Capital Advisors, LP I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY) (VOLUNTARY) | |||||
2. | CHECK THE APPROPRIATE BOX IF A MEMBER (a) ¨ (b) ¨ | |||||
3. | SEC USE ONLY | |||||
4. | SOURCE OF FUNDS AF | |||||
5. | CHECK BOX IF DISCLOSURE OF LEGAL | |||||
6. | CITIZENSHIP OR PLACE OF Delaware | |||||
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH | 7. | SOLE VOTING POWER 0 | ||||
8. | SHARED VOTING POWER 3,292,717** | |||||
9. | SOLE DISPOSITIVE POWER 0 | |||||
10. | SHARED DISPOSITIVE POWER 3,292,717** | |||||
11. | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 3,292,717** | |||||
12. | CHECK BOX IF THE AGGREGATE AMOUNT IN | |||||
13. | PERCENT OF CLASS REPRESENTED BY AMOUNT 16.7%* | |||||
14. | TYPE OF REPORTING PERSON PN, IA |
* | Based on 19,732,441 shares of Common Stock outstanding as of July 26, 2016, as reported in the Issuers Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on August 1, 2016. |
** | Consists of 3,140,664 shares of Common Stock held by Abdiel Qualified Master Fund, LP and 152,053 shares of Common Stock held by Abdiel Capital, LP. |
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Page 6 of 8 – SEC Filing
CUSIP No. 60255W105
1. | NAME OF Colin T. Moran I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY) (VOLUNTARY) | |||||
2. | CHECK THE APPROPRIATE BOX IF A MEMBER (a) ¨ (b) ¨ | |||||
3. | SEC USE ONLY | |||||
4. | SOURCE OF FUNDS AF | |||||
5. | CHECK BOX IF DISCLOSURE OF LEGAL | |||||
6. | CITIZENSHIP OR PLACE OF United States | |||||
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH | 7. | SOLE VOTING POWER 0 | ||||
8. | SHARED VOTING POWER 3,292,717** | |||||
9. | SOLE DISPOSITIVE POWER 0 | |||||
10. | SHARED DISPOSITIVE POWER 3,292,717** | |||||
11. | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 3,292,717** | |||||
12. | CHECK BOX IF THE AGGREGATE AMOUNT IN | |||||
13. | PERCENT OF CLASS REPRESENTED BY AMOUNT 16.7%* | |||||
14. | TYPE OF REPORTING PERSON IN |
* | Based on 19,732,441 shares of Common Stock outstanding as of July 26, 2016, as reported in the Issuers Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on August 1, 2016. |
** | Consists of 3,140,664 shares of Common Stock held by Abdiel Qualified Master Fund, LP and 152,053 shares of Common Stock held by Abdiel Capital, LP. |
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Page 7 of 8 – SEC Filing
CUSIP No. 60255W105
SCHEDULE 13D
This Amendment No. 6
(Amendment No. 6) amends and supplements the Schedule 13D filed on December 4, 2015 (the Original Schedule 13D) as amended by Amendment No. 1 thereto on February 10, 2016 (Amendment
No. 1), Amendment No. 2 thereto on February 12, 2016 (Amendment No. 2), Amendment No. 3 thereto on February 17, 2016 (Amendment No. 3), Amendment No. 4 thereto on March 7, 2016 (Amendment
No. 4) and Amendment No. 5 thereto on July 28, 2016 (Amendment No. 5 and, together with the Original Schedule 13D, Amendment No. 1, Amendment No. 2, Amendment No. 3 and Amendment No. 4, the Schedule
13D), relating to the shares of Class A common stock, par value $0.000004 per share (the Common Stock), of MINDBODY, Inc. (the Issuer). Each Item below amends and supplements the information disclosed under the
corresponding Item of the Schedule 13D. Except as specifically provided herein, this Amendment No. 6 does not modify any of the information previously reported in the Schedule 13D. Capitalized terms used but not defined in this Amendment
No. 6 shall have the same meanings herein as are ascribed to such terms in the Schedule 13D.
Item 3. Source and Amount of Funds or Other
Consideration.
Item 3 of the Schedule 13D is hereby supplemented by adding the following:
In a series of transactions completed through August 5, 2016, the Reporting Persons acquired 478,457 shares of Common Stock for the accounts of
Abdiel Qualified Master Fund, LP and Abdiel Capital, LP for aggregate consideration of approximately $8.6 million (including commissions). The source of funds used to acquire the 478,457 shares of Common Stock was the working capital of Abdiel
Qualified Master Fund, LP and Abdiel Capital, LP.
Item 5. Interest in Securities of the Issuer.
Item 5 of the Schedule 13D is hereby amended by amending and restating paragraphs (a) and (b) thereof as follows:
(a) The information requested by this paragraph is incorporated herein by reference to the information provided on the cover pages to this Amendment
No. 5.
(b) The information requested by this paragraph is incorporated herein by reference to the information provided on the cover pages to this
Amendment No. 5 and Item 2(c) of the Schedule 13D.
Item 5(c) of the Schedule 13D is hereby supplemented by adding the following:
(c) Information with respect to all transactions in the Common Stock which were effected by each of the Reporting Persons since the filing of Amendment No. 5
is set forth on Exhibit F attached hereto and incorporated herein by reference.
Item 7. Material to be Filed as Exhibits.
Item 7 of the Schedule 13D is hereby amended by amending and restating it as follows:
Exhibit A – Joint Filing Agreement (filed as Exhibit A to the Schedule 13D on December 4, 2015)
Exhibit B – Information with respect to Transactions Effected During the Past Sixty Days or Since the Most Recent Filing on Schedule 13D (filed as Exhibit B to
the Schedule 13D on December 4, 2015)
Exhibit C – Information with respect to Transactions Effected Since the Filing of the Schedule 13D (filed as Exhibit
C to Amendment No. 1 to the Schedule 13D on February 10, 2016)
Exhibit D – Information with respect to Transactions Effected Since the Filing of Amendment
No. 2 to the Schedule 13D (filed as Exhibit D to Amendment No. 3 to the Schedule 13D on February 17, 2016)
Exhibit E – Information with respect to
Transactions Effected Since the Filing of Amendment No. 3 to the Schedule 13D (filed as Exhibit E to Amendment No. 4 to the Schedule 13D on March 7, 2016)
Exhibit F – Information with respect to Transactions Effected Since the Filing of Amendment No. 5 to the Schedule 13D*
* Filed herewith
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Page 8 of 8 – SEC Filing
CUSIP No. 60255W105
SIGNATURES
After reasonable inquiry and
to the best of their knowledge and belief, the undersigned certify that the information set forth in this statement is true, complete and correct.
Dated:
August 8, 2016
ABDIEL QUALIFIED MASTER FUND, LP | ||
By: | Abdiel Capital Management, LLC, its General | |
By: | /s/ Colin T. Moran | |
Colin T. Moran, Managing Member | ||
ABDIEL CAPITAL, LP | ||
By: | Abdiel Capital Management, LLC, its General | |
By: | /s/ Colin T. Moran | |
Colin T. Moran, Managing Member | ||
ABDIEL CAPITAL MANAGEMENT, LLC | ||
By: | /s/ Colin T. Moran | |
Colin T. Moran, Managing Member | ||
ABDIEL CAPITAL ADVISORS, LP | ||
By: | Abdiel Capital Partners, LLC, its General | |
By: | /s/ Colin T. Moran | |
Colin T. Moran, Managing Member | ||
COLIN T. MORAN | ||
By: | /s/ Colin T. Moran | |
Colin T. Moran, Individually |
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