ITEM 1. |
SECURITY AND ISSUER: |
This Schedule 13D is being filed by the undersigned pursuant to Rule 13d-1(e) under the Act with respect to the shares of Common Stock, par value $0.001 per share, of Impinj, Inc. (the "Company"), whose principal executive offices are located at: 400 Fairview Avenue North, Suite 1200, Seattle WA 98109. |
ITEM 2. |
IDENTITY AND BACKGROUND: |
Sylebra Capital LLC ("Sylebra US") hereby files this Statement on behalf of the Reporting Persons pursuant to the Agreement with Respect to Schedule 13D (the Joint Filing Agreement) attached to this Statement as Exhibit 1.
Sylebra US and Sylebra Capital Limited ("Sylebra HK") are the investment sub-advisers to Sylebra Capital Partners Master Fund, Ltd. ("SCP MF"), Sylebra Capital Parc Master Fund ("PARC MF"), Sylebra Capital Menlo Master Fund ("MENLO MF") and other advisory clients. The term Affiliated Investment Entities refers to SCP MF, PARC MF, MENLO MF and other advisory clients. Sylebra Capital Management ("Sylebra Cayman") is the investment manager and parent of Sylebra HK. Sylebra Cayman owns 100% of the shares of Sylebra HK, and Daniel Patrick Gibson ("Gibson") owns 100% of the Class A shares of Sylebra Cayman and 100% of the share capital of Sylebra US. Gibson is a founder and Chief Investment Officer of Sylebra Cayman. In such capacities, Sylebra HK, Sylebra US, Sylebra Cayman, and Gibson may be deemed to share voting and dispositive power over the shares of common stock of the Issuer held by the Affiliated Investment Entities.
Sylebra US, Sylebra HK, Sylebra Cayman and Gibson are each referred to herein individually as a Reporting Person and collectively as the Reporting Persons.
The principal address of the Reporting Persons is c/o Sylebra Capital LLC, 3000 El Camino Real, Building 5 Suite 450, Palo Alto, CA 94306.
Each of Sylebra US, Sylebra HK and Sylebra Cayman are engaged in the principal business of fund management. Gibson serves as (i) a director and owner of each Sylebra HK and Sylebra Cayman and (ii) a sole member of Sylebra US. Each of the Affiliated Investment Entities are engaged in the principal business of investments. None of the Reporting Persons have been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors) during the last 5 years.
None of the Reporting Persons have during the last 5 years been party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws.
Sylebra US is a limited liability company organized under the laws of Delaware, United States. Sylebra HK is a private limited company organized under the laws of Hong Kong. Sylebra Cayman is an exempted company with limited liability organized under the laws of the Cayman Islands. Gibson is a citizen of Antiqua and Barbuda. |
ITEM 3. |
SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION: |
N/A as this was a disposal of securities. |
ITEM 4. |
PURPOSE OF TRANSACTION: |
N/A as this was a disposal of securities. |
ITEM 5. |
INTEREST IN SECURITIES OF THE ISSUER: |
(a)(b) Reporting Person: Sylebra Capital LLC (2) Shares Held Directly: -- Sole Voting Power: -- Shared Voting Power: 3,197,352 Sole Dispositive Power: -- Shared Dispositive Power: 3,197,352 Beneficial Ownership: 3,197,352 Percentage of Class: 11.54%(1)
Reporting Person: Sylebra Capital Limited (3) Shares Held Directly: -- Sole Voting Power: -- Shared Voting Power: 3,197,352 Sole Dispositive Power: -- Shared Dispositive Power: 3,197,352 Beneficial Ownership: 3,197,352 Percentage of Class: 11.54%(1)
Reporting Person: Sylebra Capital Management (4) Shares Held Directly: -- Sole Voting Power: -- Shared Voting Power: 3,197,352 Sole Dispositive Power: -- Shared Dispositive Power: 3,197,352 Beneficial Ownership: 3,197,352 Percentage of Class: 11.54%(1)
Reporting Person: Daniel Patrick Gibson (5) Shares Held Directly: -- Sole Voting Power: -- Shared Voting Power:3,197,352 Sole Dispositive Power: -- Shared Dispositive Power: 3,197,352 Beneficial Ownership: 3,197,352 Percentage of Class: 11.54%(1)
(1) This percentage is calculated based upon 27,712,953 shares of the Issuers common stock outstanding as of April 12, 2024, as computed in accordance with Rule 13d-3(d)(1)(i) promulgated under the 1934 Act. (2) Sylebra US holds no shares of the Issuers common stock directly. Sylebra US may be deemed to have beneficial ownership of the shares of the Issuers common stock held by the Affiliated Investment Entities due to its role as their investment sub-adviser. (3) Sylebra HK holds no shares of the Issuers common stock directly. Sylebra HK may be deemed to have beneficial ownership of the shares of the Issuers common stock held by the Affiliated Investment Entities due to its role as their investment sub-adviser. (4) Sylebra Cayman holds no shares of the Issuers common stock directly. Sylebra Cayman may be deemed to have beneficial ownership of the shares of the Issuers common stock held by the Affiliated Investment Entities due to its role as the investment manager and parent of Sylebra HK. (5) Gibson owns 100% of Class A shares of Sylebra Cayman and thus may be deemed to have beneficial ownership of the shares of the Issuers common stock held by the Affiliated Investment Entities.
(c) Other than as disclosed above, there have been no reportable transactions with respect to the Issuers common stock within the last 60 days by the Reporting Persons other than as described in this Statement.
(d) No person other than the Reporting Persons has the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the Issuers common stock.
(e) Not applicable. |
ITEM 6. |
CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT TO SECURITIES OF THE ISSUER: |
The information provided in Items 3, 4 and 5 is hereby incorporated herein by this reference.
Except for the Joint Filing Agreement attached hereto as Exhibit 1, to the knowledge of the Reporting Persons, there are no contracts, arrangements, understandings or relationships (legal or otherwise) among the Reporting Persons or, to the knowledge of any of the Reporting Persons, any other person or entity referred to in Item 2, or between such persons and any other person, with respect to any securities of the Issuer, including, but not limited to, transfer or voting of any of the securities, finders fees, joint ventures, loan or option arrangements, puts or calls, guarantees of profits, division of profits or loss, or the giving or withholding of proxies. |
ITEM 7. |
MATERIALS TO BE FILES AS EXHIBITS: |
Exhibit 1 Joint Filing Agreement, dated as of 10 June, 2024, by and among the Reporting Persons. |