Filing Details

Accession Number:
0001193125-17-034419
Form Type:
13G Filing
Publication Date:
2017-02-08 14:24:02
Filed By:
Foundation Capital Vi Lp
Company:
Lendingclub Corp (NYSE:LC)
Filing Date:
2017-02-08
SEC Url:
13G Filing
Ownership Summary

Please notice the below summary table is generated without human intervention and may contain errors. Please refer to the complete filing displayed below for exact figures.

Name Sole Voting Power Shared Voting Power Sole Dispositive Power Shared Dispositive Power Aggregate Amount Owned Power Percent of Class
Foundation Capital VI 0 21,849,648 0 21,849,648 21,849,648 5.5%
Foundation Capital VI Principals Fund 0 21,849,648 0 21,849,648 21,849,648 5.5%
Foundation Capital Management Co. VI 0 21,849,648 0 21,849,648 21,849,648 5.5%
Filing

 

 

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

 

 

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 2)

 

 

LendingClub Corporation

(Name of Issuer)

Common Stock

(Title of Class of Securities)

52603A109

(CUSIP Number)

December 31, 2016

(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. 52603A109    13G    Page 2 of 8 Pages

 

  1.   

Names of Reporting Persons

 

Foundation Capital VI, L.P.

  2.  

Check the Appropriate Box if a Member of a Group (see instructions)

(a)  ☐        (b)  ☒ (1)

 

  3.  

SEC USE ONLY

 

  4.  

Citizenship or Place of Organization

 

Delaware, United States of America

Number of

Shares

Beneficially

Owned by

Each

Reporting

Person

With:

   5.    

Sole Voting Power

 

0 shares

   6.   

Shared Voting Power

 

21,849,648 shares of Common Stock (2)

   7.   

Sole Dispositive Power

 

0 shares

   8.   

Shared Dispositive Power

 

21,849,648 shares of Common Stock (2)

  9.  

Aggregate Amount Beneficially Owned by Each Reporting Person

 

21,849,648 shares of Common Stock (2)

10.  

Check if the Aggregate Amount in Row (9) Excludes Certain Shares (see instructions)

 

11.  

Percent of Class Represented by Amount in Row 9

 

5.5%

12.  

Type of Reporting Person (see instructions)

 

PN

 

(1) This Schedule 13G is filed by Foundation Capital VI, L.P. (FC6), Foundation Capital VI Principals Fund, L.L.C. (FC6P) and Foundation Capital Management Co. VI, L.L.C. (FC6M and together with FC6 and FC6P, collectively, the Reporting Persons). The Reporting Persons expressly disclaim status as a group for purposes of this Schedule 13G.
(2) Includes (i) 21,632,144 shares held by FC6 and (ii) 217,504 shares held by FC6P. FC6M serves as the sole general partner of FC6 and serves as the manager of FC6P. As such, FC6M possesses voting and dispositive power over the shares held by FC6 and FC6P, and may be deemed to have indirect beneficial ownership of the shares held by FC6 and FC6P. FC6M owns no securities of the Issuer directly. The information with respect to the ownership of the Common Stock by the Reporting Persons filing this statement on Schedule 13G is provided as of December 31, 2016.
(3) This percentage is calculated based upon 394,289,150 shares of the Common Stock outstanding (as of October 31, 2016), as set forth in the Issuers most recent Form 10-Q filed with the Securities and Exchange Commission for the quarterly period ended September 30, 2016.

CUSIP No. 52603A109    13G    Page 3 of 8 Pages

 

  1.   

Names of Reporting Persons

 

Foundation Capital VI Principals Fund, L.L.C.

  2.  

Check the Appropriate Box if a Member of a Group (see instructions)

(a)  ☐        (b)  ☒ (1)

 

  3.  

SEC USE ONLY

 

  4.  

Citizenship or Place of Organization

 

Delaware, United States of America

Number of

Shares

Beneficially

Owned by

Each

Reporting

Person

With:

   5.    

Sole Voting Power

 

0 shares

   6.   

Shared Voting Power

 

21,849,648 shares of Common Stock (2)

   7.   

Sole Dispositive Power

 

0 shares

   8.   

Shared Dispositive Power

 

21,849,648 shares of Common Stock (2)

  9.  

Aggregate Amount Beneficially Owned by Each Reporting Person

 

21,849,648 shares of Common Stock (2)

10.  

Check if the Aggregate Amount in Row (9) Excludes Certain Shares (see instructions)

 

11.  

Percent of Class Represented by Amount in Row 9

 

5.5%

12.  

Type of Reporting Person (see instructions)

 

OO

 

(1) This Schedule 13G is filed by the Reporting Persons. The Reporting Persons expressly disclaim status as a group for purposes of this Schedule 13G.
(2) Includes (i) 21,632,144 shares held by FC6 and (ii) 217,504 shares held by FC6P. FC6M serves as the sole general partner of FC6 and serves as the manager of FC6P. As such, FC6M possesses voting and dispositive power over the shares held by FC6 and FC6P, and may be deemed to have indirect beneficial ownership of the shares held by FC6 and FC6P. FC6M owns no securities of the Issuer directly. The information with respect to the ownership of the Common Stock by the Reporting Persons filing this statement on Schedule 13G is provided as of December 31, 2016.
(3) This percentage is calculated based upon 394,289,150 shares of the Common Stock outstanding (as of October 31, 2016), as set forth in the Issuers most recent Form 10-Q filed with the Securities and Exchange Commission for the quarterly period ended September 30, 2016.

CUSIP No. 52603A109    13G    Page 4 of 8 Pages

 

  1.   

Names of Reporting Persons

 

Foundation Capital Management Co. VI, L.L.C.

  2.  

Check the Appropriate Box if a Member of a Group (see instructions)

(a)  ☐        (b)  ☒ (1)

 

  3.  

SEC USE ONLY

 

  4.  

Citizenship or Place of Organization

 

Delaware, United States of America

Number of

Shares

Beneficially

Owned by

Each

Reporting

Person

With:

   5.    

Sole Voting Power

 

0 shares

   6.   

Shared Voting Power

 

21,849,648 shares of Common Stock (2)

   7.   

Sole Dispositive Power

 

0 shares

   8.   

Shared Dispositive Power

 

21,849,648 shares of Common Stock (2)

  9.  

Aggregate Amount Beneficially Owned by Each Reporting Person

 

21,849,648 shares of Common Stock (2)

10.  

Check if the Aggregate Amount in Row (9) Excludes Certain Shares (see instructions)

 

11.  

Percent of Class Represented by Amount in Row 9

 

5.5%

12.  

Type of Reporting Person (see instructions)

 

OO

 

(1) This Schedule 13G is filed by the Reporting Persons. The Reporting Persons expressly disclaim status as a group for purposes of this Schedule 13G.
(2) Includes (i) 21,632,144 shares held by FC6 and (ii) 217,504 shares held by FC6P. FC6M serves as the sole general partner of FC6 and serves as the manager of FC6P. As such, FC6M possesses voting and dispositive power over the shares held by FC6 and FC6P, and may be deemed to have indirect beneficial ownership of the shares held by FC6 and FC6P. FC6M owns no securities of the Issuer directly. The information with respect to the ownership of the Common Stock by the Reporting Persons filing this statement on Schedule 13G is provided as of December 31, 2016.
(3) This percentage is calculated based upon 394,289,150 shares of the Common Stock outstanding (as of October 31, 2016), as set forth in the Issuers most recent Form 10-Q filed with the Securities and Exchange Commission for the quarterly period ended September 30, 2016.

Item 1(a).   

Name of Issuer:

 

LendingClub Corporation

Item 1(b).   

Address of Issuers Principal Executive Offices:

 

71 Stevenson Street, Suite 300

San Francisco, CA 94105

Item 2(a).   

Name of Person Filing:

 

Foundation Capital VI, L.P. (FC6)

Foundation Capital VI Principals Fund, L.L.C. (FC6P)

Foundation Capital Management Co. VI, L.L.C. (FC6M)

Item 2(b).   

Address of Principal Business Office or, if none, Residence:

 

c/o Foundation Capital

250 Middlefield Road

Menlo Park, California 94025

Item 2(c).   

Citizenship:

 

FC6       Delaware, United States of America

FC6P     Delaware, United States of America

FC6M   Delaware, United States of America

Item 2(d).    Title of Class of Securities:     Common Stock
Item 2(e).    CUSIP Number:                      52603A109
Item 3.    Not applicable.

Item 4. Ownership. The following information with respect to the ownership of the Common Stock by the Reporting Persons filing this statement on Schedule 13G is provided as of December 31, 2016:

 

Reporting Persons    Shares Held
Directly (1)
     Sole Voting
Power
     Shared
Voting
Power (1)
     Sole
Dispositive
Power
     Shared
Dispositive
Power (1)
     Beneficial
Ownership (1)
     Percentage
of Class (3)
 

FC6

     21,632,144         0         21,849,648         0         21,849,648         21,849,648         5.5

FC6P

     217,504         0         21,849,648         0         21,849,648         21,849,648         5.5

FC6M (2)

     0         0         21,849,648         0         21,849,648         21,849,648         5.5

 

(1) Represents the number of shares of Common Stock currently underlying all Securities held by the Reporting Person.
(2) FC6M serves as the sole general partner of FC6 and serves as the manager of FC6P. As such, FC6M possesses voting and dispositive power over the shares held by FC6 and FC6P and may be deemed to have indirect beneficial ownership of the shares held by FC6 and FC6P. FC6M owns no securities of the Issuer directly.
(3) This percentage is calculated based upon 394,289,150 shares of the Common Stock outstanding (as of October 31, 2016), as set forth in the Issuers most recent Form 10-Q filed with the Securities and Exchange Commission for the quarterly period ended September 30, 2016.

Item 5. Ownership of 5 Percent or Less of a Class

If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than 5 percent of the class of securities, check the following  ☐

Item 6. Ownership of More than 5 Percent on Behalf of Another Person

Not applicable.

 

5.


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 a Group

Not applicable.

Item 10. Certification

Not applicable.

 

6.


SIGNATURES

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.

Dated: February 6, 2017

 

FOUNDATION CAPITAL MANAGEMENT CO. VI, L.L.C.
By:  

/s/ William B. Elmore

  Manager
FOUNDATION CAPITAL VI, L.P.
By:   Foundation Capital Management Co. VI, L.L.C., its General Partner
By:  

/s/ William B. Elmore

  Manager
FOUNDATION CAPITAL VI PRINCIPALS FUND, L.L.C.
By:   Foundation Capital Management Co. VI, L.L.C., its Manager
By:  

/s/ William B. Elmore

  Manager

 

Attention:    Intentional misstatements or omissions of fact constitute Federal criminal violations (See 18 U.S.C. 1001)

 

7.


AGREEMENT

Pursuant to Rule 13d-1(k)(1) under the Securities Exchange Act of 1934, as amended, the undersigned hereby agree that only one statement containing the information required by Schedule 13G need be filed with respect to the ownership by each of the undersigned of the shares of Common Stock of LendingClub Corporation

Dated: February 6, 2017

 

FOUNDATION CAPITAL MANAGEMENT CO. VI, L.L.C.
By:  

/s/ William B. Elmore

  Manager
FOUNDATION CAPITAL VI, L.P.
By:   Foundation Capital Management Co. VI, L.L.C., its General Partner
By:  

/s/ William B. Elmore

  Manager
FOUNDATION CAPITAL VI PRINCIPALS FUND, L.L.C.
By:   Foundation Capital Management Co. VI, L.L.C., its Manager
By:  

/s/ William B. Elmore

  Manager

 

8.