0001172661-17-001866.txt : 20171102 0001172661-17-001866.hdr.sgml : 20171102 20171102101821 ACCESSION NUMBER: 0001172661-17-001866 CONFORMED SUBMISSION TYPE: SC 13G PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20171102 DATE AS OF CHANGE: 20171102 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: ARDELYX, INC. CENTRAL INDEX KEY: 0001437402 STANDARD INDUSTRIAL CLASSIFICATION: PHARMACEUTICAL PREPARATIONS [2834] IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G SEC ACT: 1934 Act SEC FILE NUMBER: 005-88209 FILM NUMBER: 171171100 BUSINESS ADDRESS: STREET 1: 34175 ARDENWOOD BLVD. CITY: FREMONT STATE: CA ZIP: 94555 BUSINESS PHONE: 510-745-7047 MAIL ADDRESS: STREET 1: 34175 ARDENWOOD BLVD. CITY: FREMONT STATE: CA ZIP: 94555 FORMER COMPANY: FORMER CONFORMED NAME: NTERYX INC DATE OF NAME CHANGE: 20080611 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: Rock Springs Capital Management LP CENTRAL INDEX KEY: 0001595725 IRS NUMBER: 800944416 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G BUSINESS ADDRESS: STREET 1: 650 SOUTH EXETER STREET STREET 2: SUITE 1070 CITY: BALTIMORE STATE: MD ZIP: 21202 BUSINESS PHONE: 4102200129 MAIL ADDRESS: STREET 1: 650 SOUTH EXETER STREET STREET 2: SUITE 1070 CITY: BALTIMORE STATE: MD ZIP: 21202 SC 13G 1 ardx102317.htm 13G



 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549

 

SCHEDULE 13G

 

Under the Securities Exchange Act of 1934

(Amendment No. )*



Ardelyx, Inc.

(Name of Issuer)

 

Common Stock, par value, $0.0001 per share

(Title of Class of Securities)

 

039697107

(CUSIP Number)

 

 

October 23, 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:

 

o Rule 13d-1(b)

x Rule 13d-1(c)

o Rule 13d-1(d)

 

 

*The remainder of this cover page shall be filled out for a reporting person’s 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.  039697107
 SCHEDULE 13G
Page 2 of 8 Pages

 

         
1
NAME OF REPORTING PERSONS
 
Rock Springs Capital Management LP
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) o
(b) o
 
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
 
2,390,187
7
SOLE DISPOSITIVE POWER
 
0
8
SHARED DISPOSITIVE POWER
 
2,390,187
9
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 
2,390,187
10
CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
 
 
o
11
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
 
5.02%
12
TYPE OF REPORTING PERSON
 
IA

 

 


 

CUSIP No.  039697107
 SCHEDULE 13G
Page 3 of 8 Pages

 

         
1
NAME OF REPORTING PERSONS
 
Rock Springs Capital Master Fund LP
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) o
(b) o
 
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
 
0
6
SHARED VOTING POWER
 
2,390,187
7
SOLE DISPOSITIVE POWER
 
0
8
SHARED DISPOSITIVE POWER
 
2,390,187
9
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 
2,390,187
10
CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
 
 
o
11
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
 
5.02%
12
TYPE OF REPORTING PERSON
 
PN

 

 
 

 

CUSIP No.  039697107
 SCHEDULE 13G
Page 4 of 8 Pages

 

Item 1.(a) Name of Issuer

Ardelyx, Inc.

(b) Address of Issuer’s Principal Executive Offices

34175 Ardenwood Blvd., Suite 200

Fremont, CA 94555

Item 2.(a) Name of Person Filing

Rock Springs Capital Management LP

Rock Springs Capital Master Fund LP

(b) Address of Principal Business Office, or, if none, Residence

Rock Springs Capital Management LP

650 South Exeter, Suite 1070

Baltimore, MD 21202

 

Rock Springs Capital Master Fund LP

c/o Walkers Corporate Limited

Cayman Corporate Centre

27 Hospital Road

George Town, Grand Cayman, KY1-9008, Cayman Islands

 

(c) Citizenship

Rock Springs Capital Management LP - Delaware

Rock Springs Capital Master Fund LP - Cayman Islands

 (d) Title of Class of Securities

Common Stock, par value, $0.0001 per share (the “Common Stock”)

 (e) CUSIP No.:

039697107

 
 

 

CUSIP No.  039697107
 SCHEDULE 13G
Page 5 of 8 Pages

 

 

Item 3. If this statement is filed pursuant to §§240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:

  (a) ¨ Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
 
  (b) ¨ Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
 
  (c) ¨ Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
 
  (d) ¨ Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
 
  (e) o An investment adviser in accordance with §240.13d-1(b)(1)(ii)(E);
 
  (f) ¨ An employee benefit plan or endowment fund in accordance with §240.13d-1(b)(1)(ii)(F);
 
  (g) ¨ A parent holding company or control person in accordance with §240.13d-1(b)(1)(ii)(G);
 
  (h) ¨ A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
 
  (i) ¨ A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
 
  (j) ¨ A non-U.S. institution in accordance with §240.13d-1(b)(1)(ii)(J);
 
  (k) ¨ A group, in accordance with §240.13d-1(b)(1)(ii)(K). If filing as a non-U.S. institution in accordance with §240.13d-1(b)(1)(ii)(J), please specify the type of institution:                            
       

 

 
 

 

CUSIP No. 039697107
 SCHEDULE 13G
Page 6 of 8 Pages

 

 

Item 4. Ownership

 

Provide the following information regarding the aggregate number and percentage of the class of securities of the issuer identified in Item 1.

 

As of the date of this filing, the Reporting Persons may be deemed to be the beneficial owners of 2,390,187 shares of Common Stock. The Reporting Persons hold 2,250,000 shares of Common Stock and 140,187 warrants to purchase the Common Stock. The percent of class is determined by dividing the number of shares of Common Stock beneficially owned by the Reporting Persons by 47,585,326, the number of shares of Common Stock (47,445,139) issued and outstanding as of August 2, 2017 combined with the number of warrants (140,187) held by the Reporting Persons.

(a) Amount beneficially owned:

Rock Springs Capital Management LP: 2,390,187

Rock Springs Capital Master Fund LP: 2,390,187

 

(b) Percent of class:

Rock Springs Capital Management LP: 5.02%

Rock Springs Capital Master Fund LP: 5.02%

 

(c) Number of shares as to which the person has:

 

(i) Sole power to vote or to direct the vote:

Rock Springs Capital Management LP: 0

Rock Springs Capital Master Fund LP: 0

 

(ii) Shared power to vote or to direct the vote:

Rock Springs Capital Management LP: 2,390,187

Rock Springs Capital Master Fund LP: 2,390,187

 

(iii) Sole power to dispose or to direct the disposition of:

Rock Springs Capital Management LP: 0

Rock Springs Capital Master Fund LP: 0

 

(iv) Shared power to dispose or to direct the disposition of:

Rock Springs Capital Management LP: 2,390,187

Rock Springs Capital Master Fund LP: 2,390,187

 

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 o

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

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect.

 

 

 
 
CUSIP No.  039697107
 SCHEDULE 13G
Page 7 of 8 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: November 2, 2017

 

 

  Rock Springs Capital Management LP
       
  By:   Graham McPhail
    Name:  Graham McPhail 
    Title:  Managing Member

 

  Rock Springs Capital Master Fund LP
  By: Rock Springs Capital Management LP
       
  By:   Graham McPhail
    Name:  Graham McPhail 
    Title:  Managing Member

 

 

 
 
CUSIP No.  039697107
 SCHEDULE 13G
Page 8 of 8 Pages

 

 

JOINT FILING AGREEMENT

 

The undersigned acknowledge and agree that the foregoing statement on Schedule 13G is filed on behalf of each of the undersigned and that all subsequent amendments to this statement on Schedule 13G shall be filed on behalf of each of the undersigned without the necessity of filing additional joint filing agreements. The undersigned acknowledge that each shall be responsible for the timely filing of such amendments, and for the completeness and accuracy of the information concerning him or it contained herein and therein, but shall not be responsible for the completeness and accuracy of the information concerning the others, except to the extent that he or it knows or has reason to believe that such information is inaccurate.

 

Date: November 2, 2017

 

 

  Rock Springs Capital Management LP
       
  By:   Graham McPhail
    Name:  Graham McPhail 
    Title:  Managing Member

 

  Rock Springs Capital Master Fund LP
  By: Rock Springs Capital Management LP
       
  By:   Graham McPhail
    Name:  Graham McPhail 
    Title:  Managing Member