Filing Details

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

SCHEDULE 13G

(Amendment No.    )

Under the Securities Exchange Act of 1934

 

 

Carvana Co.

(Name of Issuer)

Class A common stock, $0.001 par value per share

(Titles of Class of Securities)

146869102

(CUSIP Number)

December 31, 2017

(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 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, as amended (the 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).

 

 

 

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CUSIP No. 146869102		Schedule 13G

 

1		NAME OF REPORTING PERSON   CVAN Holdings, 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   - 0 -
				6		SHARED VOTING POWER   13,795,376 (1)(2)(3)
				7		SOLE DISPOSITIVE POWER   - 0 -
				8		SHARED DISPOSITIVE POWER   13,795,376 (1)(2)(3)
9		AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON   13,795,376 (1)(2)(3)
10		CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES   ☐
11		PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9   46.19% (1)(4)
12		TYPE OF REPORTING PERSON   OO

 

(1)

Represents shares of Class A common stock, par value $0.001 per share (the Class A Shares) of Carvana Co., a Delaware corporation (the Issuer), issuable in exchange for Class A common units (Class A Units) of Carvana Group, LLC, a Delaware limited liability company (Carvana Group) and subsidiary of the Issuer.

(2)

CVAN Holdings, LLC (CVAN) owns Class A Units which are exchangeable for 13,795,376 Class A Shares pursuant to an exchange agreement entered into by and among CVAN, the Issuer and certain other holders of Class A Units party thereto immediately prior to the effectiveness of the Registration Statement on Form S-1 (File No. 333-217085) relating to the Issuers initial public offering.

(3)

The Class A Units are held directly by CVAN. CVAN is a wholly-owned subsidiary of Delaware Life Holdings Parent, LLC (Parent I). Parent I is a wholly-owned subsidiary Delaware Life Holdings Parent II, LLC (Parent II). Each of Parent I and Parent II is managed by Delaware Life Holdings Manager, LLC (Manager) and each of Parent II and Manager is controlled by Mr. Mark Walter (Mr. Walter). Each of Parent I, Parent II, Manager and Mr. Walter may be deemed to indirectly share voting and dispositive power over the securities held directly by CVAN, and as a result, may be deemed to have or share beneficial ownership of the securities held directly by CVAN. Each of Parent I, Parent II, Manager and Mr. Walter disclaim beneficial ownership of such securities except to the extent of their respective pecuniary interest therein.

(4)

Based on 16,070,675 Class A Shares outstanding as of January 8, 2018, as reported by the Issuer in its Schedule 14C filed with the U.S. Securities and Exchange Commission on January 8, 2018. The percentage assumes the conversion of all Class A Units held by CVAN into Class A Shares, in accordance with Rule 13d-3 of the Securities Act of 1933, as amended.

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CUSIP No. 146869102		Schedule 13G

 

1		NAME OF REPORTING PERSON   Delaware Life Holdings Parent, 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   - 0 -
				6		SHARED VOTING POWER   13,795,376 (1)(2)(3)
				7		SOLE DISPOSITIVE POWER   - 0 -
				8		SHARED DISPOSITIVE POWER   13,795,376 (1)(2)(3)
9		AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON   13,795,376 (1)(2)(3)
10		CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES   ☐
11		PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9   46.19% (1)(4)
12		TYPE OF REPORTING PERSON   OO

 

(1)

Represents shares of Class A common stock, par value $0.001 per share (the Class A Shares) of Carvana Co., a Delaware corporation (the Issuer), issuable in exchange for Class A common units (Class A Units) of Carvana Group, LLC, a Delaware limited liability company (Carvana Group) and subsidiary of the Issuer.

 

(2)

CVAN Holdings, LLC (CVAN) owns Class A Units which are exchangeable for 13,795,376 Class A Shares pursuant to an exchange agreement entered into by and among CVAN, the Issuer and certain other holders of Class A Units party thereto immediately prior to the effectiveness of the Registration Statement on Form S-1 (File No. 333-217085) relating to the Issuers initial public offering.

 

(3)

The Class A Units are held directly by CVAN. CVAN is a wholly-owned subsidiary of Delaware Life Holdings Parent, LLC (Parent I). Parent I is a wholly-owned subsidiary Delaware Life Holdings Parent II, LLC (Parent II). Each of Parent I and Parent II is managed by Delaware Life Holdings Manager, LLC (Manager) and each of Parent II and Manager is controlled by Mr. Mark Walter (Mr. Walter). Each of Parent I, Parent II, Manager and Mr. Walter may be deemed to indirectly share voting and dispositive power over the securities held directly by CVAN, and as a result, may be deemed to have or share beneficial ownership of the securities held directly by CVAN. Each of Parent I, Parent II, Manager and Mr. Walter disclaim beneficial ownership of such securities except to the extent of their respective pecuniary interest therein.

 

(4)

Based on 16,070,675 Class A Shares outstanding as of January 8, 2018, as reported by the Issuer in its Schedule 14C filed with the U.S. Securities and Exchange Commission on January 8, 2018. The percentage assumes the conversion of all Class A Units held by CVAN into Class A Shares, in accordance with Rule 13d-3 of the Securities Act of 1933, as amended.

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CUSIP No. 146869102		Schedule 13G

 

1		NAME OF REPORTING PERSON   Delaware Life Holdings Parent II, 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   - 0 -
				6		SHARED VOTING POWER   13,795,376 (1)(2)(3)
				7		SOLE DISPOSITIVE POWER   - 0 -
				8		SHARED DISPOSITIVE POWER   13,795,376 (1)(2)(3)
9		AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON   13,795,376 (1)(2)(3)
10		CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES   ☐
11		PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9   46.19% (1)(4)
12		TYPE OF REPORTING PERSON   OO

 

(1)

Represents shares of Class A common stock, par value $0.001 per share (the Class A Shares) of Carvana Co., a Delaware corporation (the Issuer), issuable in exchange for Class A common units (Class A Units) of Carvana Group, LLC, a Delaware limited liability company (Carvana Group) and subsidiary of the Issuer.

 

(2)

CVAN Holdings, LLC (CVAN) owns Class A Units which are exchangeable for 13,795,376 Class A Shares pursuant to an exchange agreement entered into by and among CVAN, the Issuer and certain other holders of Class A Units party thereto immediately prior to the effectiveness of the Registration Statement on Form S-1 (File No. 333-217085) relating to the Issuers initial public offering.

 

(3)

The Class A Units are held directly by CVAN. CVAN is a wholly-owned subsidiary of Delaware Life Holdings Parent, LLC (Parent I). Parent I is a wholly-owned subsidiary Delaware Life Holdings Parent II, LLC (Parent II). Each of Parent I and Parent II is managed by Delaware Life Holdings Manager, LLC (Manager) and each of Parent II and Manager is controlled by Mr. Mark Walter (Mr. Walter). Each of Parent I, Parent II, Manager and Mr. Walter may be deemed to indirectly share voting and dispositive power over the securities held directly by CVAN, and as a result, may be deemed to have or share beneficial ownership of the securities held directly by CVAN. Each of Parent I, Parent II, Manager and Mr. Walter disclaim beneficial ownership of such securities except to the extent of their respective pecuniary interest therein.

 

(4)

Based on 16,070,675 Class A Shares outstanding as of January 8, 2018, as reported by the Issuer in its Schedule 14C filed with the U.S. Securities and Exchange Commission on January 8, 2018. The percentage assumes the conversion of all Class A Units held by CVAN into Class A Shares, in accordance with Rule 13d-3 of the Securities Act of 1933, as amended.

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CUSIP No. 146869102		Schedule 13G

 

1		NAME OF REPORTING PERSON   Delaware Life Holdings Manager, 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   - 0 -
				6		SHARED VOTING POWER   13,795,376 (1)(2)(3)
				7		SOLE DISPOSITIVE POWER   - 0 -
				8		SHARED DISPOSITIVE POWER   13,795,376 (1)(2)(3)
9		AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON   13,795,376 (1)(2)(3)
10		CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES   ☐
11		PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9   46.19% (1)(4)
12		TYPE OF REPORTING PERSON   OO

 

(1)

Represents shares of Class A common stock, par value $0.001 per share (the Class A Shares) of Carvana Co., a Delaware corporation (the Issuer), issuable in exchange for Class A common units (Class A Units) of Carvana Group, LLC, a Delaware limited liability company (Carvana Group) and subsidiary of the Issuer.

 

(2)

CVAN Holdings, LLC (CVAN) owns Class A Units which are exchangeable for 13,795,376 Class A Shares pursuant to an exchange agreement entered into by and among CVAN, the Issuer and certain other holders of Class A Units party thereto immediately prior to the effectiveness of the Registration Statement on Form S-1 (File No. 333-217085) relating to the Issuers initial public offering.

 

(3)

The Class A Units are held directly by CVAN. CVAN is a wholly-owned subsidiary of Delaware Life Holdings Parent, LLC (Parent I). Parent I is a wholly-owned subsidiary Delaware Life Holdings Parent II, LLC (Parent II). Each of Parent I and Parent II is managed by Delaware Life Holdings Manager, LLC (Manager) and each of Parent II and Manager is controlled by Mr. Mark Walter (Mr. Walter). Each of Parent I, Parent II, Manager and Mr. Walter may be deemed to indirectly share voting and dispositive power over the securities held directly by CVAN, and as a result, may be deemed to have or share beneficial ownership of the securities held directly by CVAN. Each of Parent I, Parent II, Manager and Mr. Walter disclaim beneficial ownership of such securities except to the extent of their respective pecuniary interest therein.

 

(4)

Based on 16,070,675 Class A Shares outstanding as of January 8, 2018, as reported by the Issuer in its Schedule 14C filed with the U.S. Securities and Exchange Commission on January 8, 2018. The percentage assumes the conversion of all Class A Units held by CVAN into Class A Shares, in accordance with Rule 13d-3 of the Securities Act of 1933, as amended.

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CUSIP No. 146869102		Schedule 13G

 

1		NAME OF REPORTING PERSON   Mark Walter
2		CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a)  ☐        (b)  ☐
3		SEC USE ONLY
4		CITIZENSHIP OR PLACE OF ORGANIZATION   United States
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH:				5		SOLE VOTING POWER   - 0 -
				6		SHARED VOTING POWER   13,795,376 (1)(2)(3)
				7		SOLE DISPOSITIVE POWER   - 0 -
				8		SHARED DISPOSITIVE POWER   13,795,376 (1)(2)(3)
9		AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON   13,795,376 (1)(2)(3)
10		CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES   ☐
11		PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9   46.19% (1)(4)
12		TYPE OF REPORTING PERSON   IN

 

(1)

Represents shares of Class A common stock, par value $0.001 per share (the Class A Shares) of Carvana Co., a Delaware corporation (the Issuer), issuable in exchange for Class A common units (Class A Units) of Carvana Group, LLC, a Delaware limited liability company (Carvana Group) and subsidiary of the Issuer.

 

(2)

CVAN Holdings, LLC (CVAN) owns Class A Units which are exchangeable for 13,795,376 Class A Shares pursuant to an exchange agreement entered into by and among CVAN, the Issuer and certain other holders of Class A Units party thereto immediately prior to the effectiveness of the Registration Statement on Form S-1 (File No. 333-217085) relating to the Issuers initial public offering.

 

(3)

The Class A Units are held directly by CVAN. CVAN is a wholly-owned subsidiary of Delaware Life Holdings Parent, LLC (Parent I). Parent I is a wholly-owned subsidiary Delaware Life Holdings Parent II, LLC (Parent II). Each of Parent I and Parent II is managed by Delaware Life Holdings Manager, LLC (Manager) and each of Parent II and Manager is controlled by Mr. Mark Walter (Mr. Walter). Each of Parent I, Parent II, Manager and Mr. Walter may be deemed to indirectly share voting and dispositive power over the securities held directly by CVAN, and as a result, may be deemed to have or share beneficial ownership of the securities held directly by CVAN. Each of Parent I, Parent II, Manager and Mr. Walter disclaim beneficial ownership of such securities except to the extent of their respective pecuniary interest therein.

 

(4)

Based on 16,070,675 Class A Shares outstanding as of January 8, 2018, as reported by the Issuer in its Schedule 14C filed with the U.S. Securities and Exchange Commission on January 8, 2018. The percentage assumes the conversion of all Class A Units held by CVAN into Class A Shares, in accordance with Rule 13d-3 of the Securities Act of 1933, as amended.

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Item 1(a). Name of Issuer:

Carvana Co.

Item 1(b). Address of Issuers Principal Executive Offices:

1930 W. Rio Salado Parkway

Tempe, Arizona 85281

Item 2(a). Name of Person Filing:

This statement is filed on behalf of each of the following persons:

 

1.

CVAN Holdings, LLC (CVAN)

 

2.

Delaware Life Holdings Parent, LLC (Parent I)

 

3.

Delaware Life Holdings Parent II, LLC (Parent II)

 

4.

Delaware Life Holdings Manager, LLC (Manager)

 

5.

Mark Walter (Mr. Walter)

Item 2(b). Address of Principal Business Office or, if none, Residence:

The principal business address of each of CVAN, Parent I, Parent II, Manager and Mr. Walter is as follows:

227 W. Monroe, Suite 4800

Chicago, IL 60606

Item 2(c). Citizenship:

See responses to Item 4 on each cover page.

Item 2(d). Titles of Classes of Securities:

Class A common stock, $0.001 par value per share (Class A Shares).

Item 2(e). CUSIP Number:

146869102

Item 3. If This Statement is Filed Pursuant to Rule 13d-1(b), or 13d-2(b) or (c), Check Whether the Person Filing is a(n):

 

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Item 4. Ownership

 

(a)

Amount beneficially owned:

13,795,376 Class A Shares issuable in exchange for Class A common units (Class A Units) of Carvana Group, LLC, a Delaware limited liability company (Carvana Group) and subsidiary of the Issuer, pursuant to an exchange agreement entered into by and among CVAN, the Issuer and certain other holders of Class A Units party thereto immediately prior to the effectiveness of the Registration Statement on Form S-1 (File No. 333-217085) relating to the Issuers initial public offering.

The Class A Units are held directly by CVAN. CVAN is a wholly-owned subsidiary of Parent I. Parent I is a wholly-owned subsidiary Parent II. Each of Parent I and Parent II is managed by Manager and each of Parent II and Manager is controlled by Mr. Walter. Each of Parent I, Parent II, Manager and Mr. Walter may be deemed to indirectly share voting and dispositive power over the securities held directly by CVAN, and as a result, may be deemed to have or share beneficial ownership of the securities held directly by CVAN. Each of Parent I, Parent II, Manager and Mr. Walter disclaim beneficial ownership of such securities except to the extent of their respective pecuniary interest therein.

 

(b)

Percent of class:

46.19% based on 16,070,675 Class A Shares outstanding as of January 8, 2018, as reported by the Issuer in its Schedule 14C filed with the U.S. Securities and Exchange Commission on January 8, 2018. The percentage assumes the conversion of all Class A Units held by CVAN into Class A Shares, in accordance with Rule 13d-3 of the Securities Act of 1933, as amended.

 

(c)

Number of shares as to which such person has:

 

(i)

Sole power to vote or to direct the vote:

0

 

(ii)

Shared power to vote or to direct the vote:

13,795,376. See response to Item 4(a) above.

 

(iii)

Sole power to dispose or to direct the disposition of:

0

 

(iv)

Shared power to dispose or to direct the disposition of:

13,795,376. See response to Item 4(a) above.

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 person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following  ☐.

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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.

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.

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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.

Dated: February 14, 2018

 

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Exhibit Index

 

Exhibit No.		Description
Exhibit 1		Joint Filing Agreement, dated as of February 14, 2018, by and among CVAN Holdings, LLC, Delaware Life Holdings Parent, LLC, Delaware Life Holdings Parent II, LLC, Delaware Life Holdings Manager, LLC and Mark Walter.