Filing Details

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CUSIP No. 0001844744

13D/A

Page 2 of 10

 

1	NAMES OF REPORTING PERSONS
	I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Abu Dhabi Investment Authority
2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP		(a)	☐
			(b)	☒
3	SEC USE ONLY
4	SOURCE OF FUNDS (SEE INSTRUCTIONS)
	OO
5	CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(D) OR 2(E)			☐
6	CITIZENSHIP OR PLACE OF ORGANIZATION
	The Emirate of Abu Dhabi, United Arab Emirates
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH	7	SOLE VOTING POWER
		0
	8	SHARED VOTING POWER
		29,955,499
	9	SOLE DISPOSITIVE POWER
		0
	10	SHARED DISPOSITIVE POWER
		29,955,499
11	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
	29,955,499
12	CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)			☒
13	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
	6.5% (1)
14	TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
	OO (2)

1	NAMES OF REPORTING PERSONS
	I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Platinum Falcon B 2018 RSC Limited
2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP		(a)	☐
			(b)	☒
3	SEC USE ONLY
4	SOURCE OF FUNDS (SEE INSTRUCTIONS)
	OO
5	CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(D) OR 2(E)			☐
6	CITIZENSHIP OR PLACE OF ORGANIZATION
	Abu Dhabi Global Market, Abu Dhabi, United Arab Emirates
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH	7	SOLE VOTING POWER
		0
	8	SHARED VOTING POWER
		29,955,499
	9	SOLE DISPOSITIVE POWER
		0
	10	SHARED DISPOSITIVE POWER
		29,955,499
11	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
	29,955,499
12	CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)			☒
13	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
	6.5% (2)
14	TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
	CO

 

This Amendment No. 1 (this “First Amendment”) to Schedule 13D amends and supplements the Schedule 13D originally filed by the Reporting Persons (as defined below) on July 12, 2021 (the “Statement”) with respect to Class A common stock, par value $0.0001 (the “Class A Common Stock”) of Alight, Inc. (the “Issuer” or the “Company”), whose principal executive offices are located at 4 Overlook Point, Lincolnshire, Illinois 60069. Except as specifically provided herein, this First Amendment does not modify any of the information previously reported in the Statement. Unless otherwise indicated, capitalized terms used but not defined in this First Amendment have the meanings ascribed to such terms in the Statement.

 

Item 2. Identity and Background

 

Schedules 1 and 2 of the Statement are hereby amended by deleting the previous responses in their entirety and replacing them with Schedules 1 and 2, respectively, of this First Amendment.

 

Item 4. Purpose of Transaction.

 

The response set forth in Item 4 of the Statement is hereby amended by supplementing the previous response with the following:

 

 

On November 14, 2022, in connection with the public offering of the shares of Class A Common Stock (the “Public Offering”), an underwriting agreement was entered into by and among the Issuer, Alight Holding Company, LLC, J.P. Morgan Securities LLC, Credit Suisse Securities (USA) LLC, the other underwriters named therein (collectively the “Underwriters”), Platinum Falcon and the other selling stockholders named therein (the “Underwriting Agreement”), pursuant to which Platinum Falcon sold, on November 17, 2022, 3,251,922 shares of Class A Common Stock to the Underwriters at a price of $7.46 per share of Class A Common Stock in accordance with the terms and conditions of the Underwriting Agreement. Pursuant to the Underwriting Agreement, Platinum Falcon granted the Underwriters an option to purchase additional 487,788  shares of Class A Common Stock (the “Option Shares”) at a price of $7.46 per share of Class A Common Stock (i) at any time before the closing date of the Public Offering and (ii) at any time, from time to time thereafter within 30 days after the date of the Underwriting Agreement. The Underwriters exercised their option to purchase the Option Shares, and Platinum Falcon sold the Option Shares to the Underwrites on November 17, 2022.

 

 

In connection with the Public Offering, pursuant to the Underwriting Agreement, on November 14, 2022, Platinum Falcon executed a lock-up agreement (the “Lock-up Agreement”), pursuant to which and subject to specified exceptions, it agreed for a period starting on the date of the Lock-up Agreement and continuing until, and including, the date that is 75 days after the date of the final prospectus relating to the Public Offering, not to, without the prior written consent of the Representatives (as defined in the Lock-up Agreement), among other matters, directly or indirectly, (i) offer, sell, pledge, contract to sell (including any short sale), grant any option to purchase or otherwise dispose of any shares of Class A Common Stock or enter into any Hedging Transaction (as defined in the Lock-up Agreement) relating to the Class A Common Stock (each of the foregoing referred to as a “Disposition”), or (ii) publicly announce the intention to make such a Disposition.

 

The foregoing summary of the Lock-up Agreement is not intended to be complete, and is qualified in entirety by reference to the full text of the Lock-up Agreement, a copy of which is included as Exhibit 99.4 and which is incorporated herein by reference.

 

Item 5. Interest in Securities of the Issuer.

 

The responses set forth in Items 5(a)-5(c) of the Statement are hereby amended by deleting the previous responses in their entirety and replacing them with the following:

 

(a) Platinum Falcon is the direct beneficial owner of 29,955,499 shares of Class A Common Stock, representing 6.5% of the shares of Class A Common Stock outstanding.

 

Platinum Falcon is the direct owner of 1,088,850 unvested shares of non-voting Class B-1 common stock of the Issuer. The non-voting Class B-1 common stock will vest and convert into shares of Class A Common Stock on a one-for-one basis if the volume-weighted average price (“VWAP”) of the Class A Common Stock equals or exceeds $12.50 per share for 20 or more trading days within a consecutive 30-trading day period (or in the event of a change of control or liquidation event that implies a $12.50 per share valuation). As the vesting of non-voting Class B-1 common stock is dependent on company performance criteria not within the control of Platinum Falcon, Platinum Falcon does not beneficially own any Class A Common Stock by virtue of its ownership of the non-voting Class B-1 common stock.

 

Platinum Falcon is the direct owner of 1,088,850 unvested shares of non-voting Class B-2 common stock of the Issuer. The non-voting Class B-2 common stock will vest and convert into shares of Class A Common Stock on a one-for-one basis if the VWAP of the Class A Common Stock equals or exceeds $15.00 per share for 20 or more trading days within a consecutive 30-trading day period (or in the event of a change of control or liquidation event that implies a $15.00 per share valuation). As the vesting of non-voting Class B-2 common stock is dependent on company performance criteria not within the control of Platinum Falcon, Platinum Falcon does not beneficially own any Class A Common Stock by virtue of its ownership of the non-voting Class B-2 common stock.

 

Platinum Falcon is the direct owner of (i) 1,203,710 unvested shares of Class Z-A common stock of the Issuer; (ii) 65,442 unvested  shares of Class Z-B-1 common stock of the Issuer; and (iii) 65,442 unvested shares of Class Z-B-2 common stock of the Issuer (together with the Class Z-A Common Stock and the Class Z-B-1 Common Stock, the “Class Z Common Stock”). The Class Z Common Stock is unvested, non-economic and non-voting and is intended to allow for the re-allocation of the consideration paid to the holders of unvested management equity in Tempo Holding to the other pre-closing equity holders of Tempo Holding in the event such equity is forfeited under the terms of the applicable award agreement and will only vest in connection with any such forfeiture. Upon vesting, the shares of Class Z-A common stock, Class Z-B-1 common stock and Class Z-B-2 common stock will convert, on a one-for-one basis, into shares of Class A Common Stock, Class B-1 common stock and Class B-2 common stock, respectively; provided, however, that if at the time of such conversion into Class B-1 common stock or Class B-2 common stock, the Class B-1 common stock and the Class B-2 common stock are to vest and convert into Class A Common Stock, then the shares of Class Z-B-1 common stock and Class Z-B-2 common stock shall convert directly into shares of Class A Common Stock on a one-for-one basis. As the vesting of Class Z Common Stock is dependent on events outside the control of Platinum Falcon, Platinum Falcon does not beneficially own any Class A Common Stock by virtue of its ownership of the Class Z Common Stock.

 

ADIA is the indirect beneficial owner of 29,955,499  shares of Class A Common Stock mentioned above, representing 6.5% of the shares of Class A Common Stock outstanding, by virtue of ADIA’s 100% indirect ownership of Platinum Falcon.

 

 (b) Platinum Falcon has the power to vote or to direct the vote or dispose or direct the disposition of 29,955,499 shares of Class A Common Stock, representing 6.5% of the Issuer, which it shares with ADIA by virtue of ADIA’s indirect beneficial ownership of Platinum Falcon, and with the Issuer pursuant to the Investor Rights Agreement (as defined under Item 6 below), as described in more detail under Item 6, which description is hereby incorporated herein by reference.

 

ADIA has the power to vote or to direct the vote or dispose or direct the disposition of 29,955,499 shares of Class A Common Stock, representing 6.5% of the Issuer, which it shares with Platinum Falcon by virtue of ADIA’s indirect beneficial ownership of Platinum Falcon, and with the Issuer pursuant to the Investor Rights Agreement.

 

The calculation of the beneficial ownership information set forth in Item 5(a) and 5(b) is based on a total of 464,365,807 shares of Class A Common Stock of the Company, as reported in the Prospectus Supplement dated November 14, 2022 to the Prospectus dated April 20, 2022 with respect to the Public Offering, filed by the Company with the SEC.

 

(c) On November 17, 2022, Platinum Falcon sold 3,251,922 shares of Class A Common Stock to the Underwriters at a price of $7.46 per share of Class A Common Stock pursuant to the terms and conditions of the Underwriting Agreement. The Underwriters exercised their option to purchase the Option Shares at a price of $7.46 per share of Class A Common Stock, and Platinum Falcon sold the Option Shares to the Underwriters on November 17, 2022. Except as disclosed in the immediately preceding sentence, to the knowledge of the Reporting Persons, none of the persons named in Item 2 has effected any transaction in the securities of the Issuer during the past 60 days.

 

Item 6. Contracts, Arrangements, Understanding or Relationships with Respect to Securities of the Issuer.

 

The response set forth in Item 6 of the Statement is hereby amended by adding the following disclosure after the paragraph with the header “Aon Deferred Consideration Agreements”.

 

The information set forth in Item 4 of this First Amendment is incorporated by reference in its entirety into this Item 6.

 

 

Item 7.

Material to be Filed as Exhibits

EXHIBIT INDEX

 

 

SIGNATURE

 

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.

 

 

Schedule 1 sets forth the Managing Director and the members of the Investment Committee of ADIA.

Schedule 2 sets forth the executive officers and the members of the board of directors of Platinum Falcon B 2018 RSC Limited.