Filing Details

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 3)*

 

 

Liquidia Corporation

(Name of Issuer)

COMMON STOCK, $0.001 PAR VALUE PER SHARE

(Title of Class of Securities)

53635D202

(CUSIP Number)

December 31, 2022

(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 persons initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.

The information required in 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. 53635D202		SCHEDULE 13G/A		Page 2 of 7 Pages

 

1.		NAMES OF REPORTING PERSONS     Canaan VIII L.P.
2.		CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP   (a)  ☐        (b)  ☒
3.		SEC USE ONLY
4.		CITIZENSHIP OR PLACE OF ORGANIZATION     Cayman Islands

NUMBER OF SHARES  BENEFICIALLY  OWNED BY EACH REPORTING PERSON WITH				5.		SOLE VOTING POWER     2,917,169
				6.		SHARED VOTING POWER     0
				7.		SOLE DISPOSITIVE POWER     2,917,169
				8.		SHARED DISPOSITIVE POWER     0

9.		AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON     2,917,169
10.		CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES     ☐
11.		PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9     4.5% (1)
12.		TYPE OF REPORTING PERSON     PN

 

(1)	The percent of class was calculated based on 64,494,951 shares of common stock outstanding as of November 1, 2022, as disclosed in the Issuers Quarterly Report on Form 10-Q for the period ended September 30, 2022, as filed with the Securities and Exchange Commission on November 8, 2022.

CUSIP No. 53635D202		SCHEDULE 13G/A		Page 3 of 7 Pages

 

 

1.		NAMES OF REPORTING PERSONS     Canaan Partners VIII LLC
2.		CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP   (a)  ☐        (b)  ☒
3.		SEC USE ONLY
4.		CITIZENSHIP OR PLACE OF ORGANIZATION     Delaware

NUMBER OF SHARES  BENEFICIALLY  OWNED BY EACH REPORTING PERSON WITH				5.		SOLE VOTING POWER     2,917,169
				6.		SHARED VOTING POWER     0
				7.		SOLE DISPOSITIVE POWER     2,917,169
				8.		SHARED DISPOSITIVE POWER     0

9.		AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON     2,917,169
10.		CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES     ☐
11.		PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9     4.5% (1)
12.		TYPE OF REPORTING PERSON     OO

 

(1)	The percent of class was calculated based on 64,494,951 shares of common stock outstanding as of November 1, 2022, as disclosed in the Issuers Quarterly Report on Form 10-Q for the period ended September 30, 2022, as filed with the Securities and Exchange Commission on November 8, 2022.

CUSIP No. 53635D202		SCHEDULE 13G/A		Page 4 of 7 Pages

 

Explanatory Note: On November 18, 2020 (the Closing Date), Liquidia Corporation, a Delaware corporation (the Issuer), completed the acquisition contemplated by the Agreement and Plan of Merger, dated as of June 29, 2019, as amended by a Limited Waiver and Modification to the Merger Agreement, dated as of August 3, 2020 (the Merger Agreement), by and among the Issuer, Liquidia Technologies, Inc., a Delaware corporation (Liquidia Technologies), RareGen, LLC, a Delaware limited liability company (RareGen), Gemini Merger Sub I, Inc., a Delaware corporation (Liquidia Merger Sub), Gemini Merger Sub II, LLC, a Delaware limited liability company (RareGen Merger Sub), and PBM RG Holdings, LLC, a Delaware limited liability company, as Members Representative. Pursuant to the Merger Agreement, Liquidia Merger Sub, a wholly owned subsidiary of the Issuer, merged with and into Liquidia Technologies (the Liquidia Technologies Merger), and RareGen Merger Sub, a wholly owned subsidiary of the Issuer, merged with and into RareGen (the RareGen Merger and, together with the Liquidia Technologies Merger, the Merger Transaction). Upon consummation of the Merger Transaction, the separate corporate existences of Liquidia Merger Sub and RareGen Merger Sub ceased and Liquidia Technologies and RareGen continue as wholly owned subsidiaries of the Issuer. As disclosed in the Issuers Current Report on Form 8-K filed with the Securities and Exchange Commission on November 18, 2020, the Issuer is the successor issuer to Liquidia Technologies pursuant to Rule 12g-3(a) under the Securities Exchange Act of 1934, as amended.

 

Item 1.

Issuer

 

(a)

Name of Issuer:

Liquidia Corporation (the Issuer)

 

(b)

Address of Issuers Principal Executive Offices:

419 Davis Drive

Ste. 100

Morrisville, NC 27560

 

Item 2.

Filing Person

 

 

(i)

Canaan VIII L.P., a Cayman Islands limited partnership (the Fund); and

 

(ii)

Canaan Partners VIII LLC, a Delaware limited liability company (the General Partner).

The address of the principal business office of each of the reporting persons is 2765 Sand Hill Road, Menlo Park, CA 94025.

 

(d)

Title of Class of Securities:

Common Stock, $0.001 par value per share, (the Common Stock)

 

(e)

CUSIP Number:

53635D202

 

Item 3.

If this statement is filed pursuant to Rules 13d-1(b), or 13d-2(b) or (c), check whether the person filing is a:

 

CUSIP No. 53635D202		SCHEDULE 13G/A		Page 5 of 7 Pages

 

 

Item 4.

Ownership.

 

 

		Number of shares of Common Stock
Reporting Person		(i)				(ii)				(iii)				(iv)
Canaan VIII L.P.			2,917,169				0				2,917,169				0
Canaan Partners VIII LLC			2,917,169				0				2,917,169				0

 

(i)

Sole power to vote or direct the vote

 

(ii)

Shared power to vote or to direct the vote

 

(iii)

Sole power to dispose or to direct the disposition of

 

(iv)

Shared power to dispose or to direct the disposition of

The percent of class was calculated based on 64,494,951 shares of common stock outstanding as of November 1, 2022, as disclosed in the Issuers Quarterly Report on Form 10-Q for the period ended September 30, 2022, as filed with the Securities and Exchange Commission on November 8, 2022.

CUSIP No. 53635D202		SCHEDULE 13G/A		Page 6 of 7 Pages

 

Item 5.

Ownership of Five Percent or Less of a Class.

If this statement is being filed to report the fact that as of the date hereof the reporting persons have ceased to be the beneficial owner of more than five percent of the class of securities, check the following. ☒

 

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 or Control Person.

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.

Not applicable.

CUSIP No. 53635D202		SCHEDULE 13G/A		Page 7 of 7 Pages

 

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.

Date: February 1, 2023