0001387131-18-002633.txt : 20180611 0001387131-18-002633.hdr.sgml : 20180611 20180611172917 ACCESSION NUMBER: 0001387131-18-002633 CONFORMED SUBMISSION TYPE: SC 13G/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20180611 DATE AS OF CHANGE: 20180611 GROUP MEMBERS: FIRST LIGHT FOCUS FUND GP, LLC GROUP MEMBERS: FIRST LIGHT FOCUS FUND, LP GROUP MEMBERS: MATHEW P. ARENS SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: TANDEM DIABETES CARE INC CENTRAL INDEX KEY: 0001438133 STANDARD INDUSTRIAL CLASSIFICATION: SURGICAL & MEDICAL INSTRUMENTS & APPARATUS [3841] IRS NUMBER: 204327508 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-87718 FILM NUMBER: 18892912 BUSINESS ADDRESS: STREET 1: 11075 ROSELLE STREET CITY: San Diego STATE: CA ZIP: 92121 BUSINESS PHONE: 858-366-6900 MAIL ADDRESS: STREET 1: 11075 ROSELLE STREET CITY: San Diego STATE: CA ZIP: 92121 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: First Light Asset Management, LLC CENTRAL INDEX KEY: 0001600004 IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A BUSINESS ADDRESS: STREET 1: 3300 EDINBOROUGH WAY STREET 2: SUITE 201 CITY: EDINA STATE: MN ZIP: 55435 BUSINESS PHONE: 952-831-6500 MAIL ADDRESS: STREET 1: 3300 EDINBOROUGH WAY STREET 2: SUITE 201 CITY: EDINA STATE: MN ZIP: 55435 SC 13G/A 1 flam-sc13ga_060618.htm AMENDED SC 13G

 

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE 13G/A

Under the Securities Exchange Act of 1934*

Tandem Diabetes Care, Inc.

(Name of Issuer)

 

Common Stock, $0.001 par value

(Title of Class of Securities)

 

875372104

(CUSIP Number)

 

June 6, 2018

(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 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 . 875372104    

 

1

NAME OF REPORTING PERSONS
First Light Focus Fund, LP

 

I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
(ENTITIES ONLY)

47-4771203

  
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

2,042,188

  
7

SOLE DISPOSITIVE POWER

0

  
8

SHARED DISPOSITIVE POWER

2,042,188

  
9

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

2,042,188

  
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 9 EXCLUDES CERTAIN SHARES ☐
11

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

4.08%

  
12

TYPE OF REPORTING PERSON

PN

  
         
  
 

 

CUSIP No . 875372104   Page 3 of 10

 

1

NAME OF REPORTING PERSONS
First Light Focus Fund GP, LLC

 

I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
(ENTITIES ONLY)

35-2538554

  
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

2,042,188

  
7

SOLE DISPOSITIVE POWER

0

  
8

SHARED DISPOSITIVE POWER

2,042,188

  
9

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

2,042,188

  
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 9 EXCLUDES CERTAIN SHARES ☐
11

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

4.08%

  
12

TYPE OF REPORTING PERSON

HC

  
         

 

  
 

 

 

CUSIP No . 875372104   Page 4 of 10

 

1

NAME OF REPORTING PERSONS
First Light Asset Management, LLC

 

I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
(ENTITIES ONLY)

46-3521994

  
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

2,146,963

  
7

SOLE DISPOSITIVE POWER

0

  
8

SHARED DISPOSITIVE POWER

2,146,963

  
9

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

2,146,963

  
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 9 EXCLUDES CERTAIN SHARES ☐
11

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

4.29%

  
12

TYPE OF REPORTING PERSON

IA

  
         
  
 

 

 

  CUSIP No . 875372104   Page 5 of 10
         
1

NAME OF REPORTING PERSONS
Mathew P. Arens

 

I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
(ENTITIES ONLY)

  
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a) ☐

(b) ☐

3 SEC USE ONLY  
4

CITIZENSHIP OR PLACE OF ORGANIZATION

United State of America

  

NUMBER OF
SHARES

BENEFICIALLY
OWNED BY

EACH
REPORTING

PERSON
WITH:

 5

SOLE VOTING POWER

8,000

  
6

SHARED VOTING POWER

2,271,963

  
7

SOLE DISPOSITIVE POWER

8,000

  
8

SHARED DISPOSITIVE POWER

2,271,963

  
9

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

2,271,963

  
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 9 EXCLUDES CERTAIN SHARES ☐
11

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

4.55%

  
12

TYPE OF REPORTING PERSON

IN

  
                 

 

  
 

 

 

CUSIP No. 875372104   Page 6 of 10

 

Item 1(a).   Name of Issuer:
    Tandem Diabetes Care, Inc.
     
Item 1(b).   Address of Issuer’s Principal Executive Offices:
    11075 Roselle St., San Diego, CA 92121
     
Item 2(a).   Name of Person Filing:
   

This Schedule 13G is being jointly filed by the following:

 

First Light Focus Fund, LP (the “Fund”)

First Light Focus Fund GP, LLC (the “General Partner”)

First Light Asset Management, LLC (the “Manager”)

Mathew P. Arens (“Mr. Arens”)

   

 

(1)    The Fund is the direct holder and the beneficial owner of the Issuer’s shares of common stock, par value $0.001 per share (“Shares”) reflected in Item 4 below.

(2)    The General Partner is deemed to be a beneficial owner of Shares held directly by the Fund because it is the sole general partner of the Fund. The General Partner does not own any Shares for its own account, and disclaims beneficial ownership of the Shares reported herein.

(3)    The Manager is deemed to be a beneficial owner of the Shares reflected in Item 4 below because it (i) acts as investment adviser to the Fund and (ii) acts as investment adviser to certain separately managed accounts that are the direct holders of an aggregate amount of 104,775 Shares. The Manager does not own any Shares for its own account, and disclaims beneficial ownership of the Shares reported herein.

(4)    Mr. Arens (i) directly holds 125,000 Shares held in a joint spousal account for which he shares control, (ii) directly holds 8,000 Shares in an individual capacity, and (iii) is deemed to be the beneficial owner of the Shares with respect to which the Manager has investment power because Mr. Arens controls the Manager in his position as the managing member and majority owner of the Manager. Mr. Arens does not own any of the Shares reported under the foregoing clause (ii), and disclaims beneficial ownership of such Shares.

 

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

Each of the reporting persons identified in Item 2(a) has its principal business office at:

 

3300 Edinborough Way, Suite 201, Edina, MN 55435

     
Item 2(c).   Citizenship:
   

First Light Focus Fund, LP – Delaware limited partnership

First Light Focus Fund GP, LLC – Delaware limited liability company

First Light Asset Management, LLC – Delaware limited liability company

Mathew P. Arens – United States citizen

     
Item 2(d).   Title of Class of Securities:
    Common Stock, $0.001 par value
     
Item 2(e).   CUSIP Number:
    875372104
     
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) ☐ An investment adviser in accordance with §240.13d-1(b)(1)(ii)(E);
  
 

 

CUSIP No . 875372104   Page 7 of 10  
         
  (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)(ii)(G);
       
  (h) ☐ A savings association 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 (15 U.S.C. 80a-3);
       
  (j) ☐ Group, in accordance with §240.13d-1(b)(1)(ii)(J).
       
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.
   
  (a) Amount beneficially owned:
   

First Light Focus Fund, LP – 2,042,188

First Light Focus Fund GP, LLC – 2,042,188
First Light Asset Management, LLC – 2,146,963

Mathew P. Arens – 2,279,963

     
  (b) Percent of class:
   

First Light Focus Fund, LP – 4.08%

First Light Focus Fund GP, LLC – 4.08%

First Light Asset Management, LLC – 4.29%

Mathew P. Arens – 4.55%

     
  (c) Number of shares as to which such person has:
     
    (i) Sole power to vote or to direct the vote
     

First Light Focus Fund, LP – 0

First Light Focus Fund GP, LLC – 0

First Light Asset Management, LLC – 0

Mathew P. Arens – 8,.000

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

First Light Focus Fund, LP – 2,042,188

First Light Focus Fund GP, LLC – 2,042,188

First Light Asset Management, LLC – 2,146,963

Mathew P. Arens – 2,271,963

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

First Light Focus Fund, LP – 0

First Light Focus Fund GP, LLC – 0

First Light Asset Management, LLC – 0

Mathew P. Arens – 8,000

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

First Light Focus Fund, LP – 2,042,188

First Light Focus Fund GP, LLC – 2,042,188

First Light Asset Management, LLC – 2,146,963

Mathew P. Arens – 2,271,963

               
  
 

 

CUSIP No . 875372104   Page 8 of 10

 

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 ☐
   
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, other than activities solely in connection with a nomination under § 240.14a-11.

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.

 

FIRST LIGHT FOCUS FUND, LP

 

Date: June 11, 2018

  
   
  By: /s/ Jin K. Lien  
  Name: Jin K. Lien  
  Title: Chief Compliance Officer  
     
 

FIRST LIGHT FOCUS FUND GP, LLC

 

Date: June 11, 2018

  
 
  By: /s/ Jin K. Lien  
  Name: Jin K. Lien  
  Title: Chief Compliance Officer  
     
 

FIRST LIGHT ASSET MANAGEMENT, LLC

 

Date: June 11, 2018

  
   
  By: /s/ Jin K. Lien  
  Name: Jin K. Lien  
  Title: Chief Compliance Officer  
     
  
 

 

CUSIP No . 875372104   Page 9 of 10
 

 

Date: June 11, 2018

  
     
    Signature: /s/ Mathew P. Arens    
    Name: Mathew P. Arens    
                 

 

  
 

 


CUSIP No . 		875372104   Page 10 of 10

 

Exhibit A

JOINT FILING AGREEMENT

 

 

The Undersigned agree that the statement on Schedule 13G with respect to the common stock of Tandem Diabetes Care, Inc., dated as of June 11, 2018, is, and any amendment thereto signed by each of the undersigned shall be, filed on behalf of each of them pursuant to and in accordance with the provisions of Rule 13d-1(k) under the Securities Exchange Act of 1934, as amended.

 

FIRST LIGHT FOCUS FUND, LP

 

By: /s/ Jin K. Lien

Name: Jin K. Lien

Title: Chief Compliance Officer

 

FIRST LIGHT FOCUS FUND GP, LLC

 

By: /s/ Jin K. Lien

Name: Jin K. Lien

Title: Chief Compliance Officer

 

FIRST LIGHT ASSET MANAGEMENT, LLC

 

By: /s/ Jin K. Lien

Name: Jin K. Lien

Title: Chief Compliance Officer

 

 

Signature: /s/ Mathew P. Arens

Name: Mathew P. Arens