0001193125-23-254180.txt : 20231011 0001193125-23-254180.hdr.sgml : 20231011 20231011163556 ACCESSION NUMBER: 0001193125-23-254180 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 2 FILED AS OF DATE: 20231011 DATE AS OF CHANGE: 20231011 GROUP MEMBERS: ABDIEL CAPITAL ADVISORS, LP GROUP MEMBERS: ABDIEL CAPITAL MANAGEMENT, LLC GROUP MEMBERS: ABDIEL CAPITAL, LP GROUP MEMBERS: COLIN T. MORAN SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: Cricut, Inc. CENTRAL INDEX KEY: 0001828962 STANDARD INDUSTRIAL CLASSIFICATION: SPECIAL INDUSTRY MACHINERY, NEC [3559] IRS NUMBER: 870282025 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-92454 FILM NUMBER: 231321022 BUSINESS ADDRESS: STREET 1: 10855 SOUTH RIVER FRONT PARKWAY CITY: SOUTH JORDAN STATE: UT ZIP: 84095 BUSINESS PHONE: 877-727-4288 MAIL ADDRESS: STREET 1: 10855 SOUTH RIVER FRONT PARKWAY CITY: SOUTH JORDAN STATE: UT ZIP: 84095 FORMER COMPANY: FORMER CONFORMED NAME: Cricut Inc DATE OF NAME CHANGE: 20201019 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: Abdiel Qualified Master Fund LP CENTRAL INDEX KEY: 0001508239 IRS NUMBER: 208096029 STATE OF INCORPORATION: E9 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: 90 PARK AVENUE, 29TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10016 BUSINESS PHONE: 646-496-9351 MAIL ADDRESS: STREET 1: 90 PARK AVENUE, 29TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10016 SC 13D/A 1 d555857dsc13da.htm SC 13D/A SC 13D/A

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

 

 

SCHEDULE 13D

(Rule 13d-101)

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 29)*

 

 

Cricut, Inc.

(Name of Issuer)

Class A Common Stock, $0.001 par value per share

(Title of Class of Securities)

22658D100

(CUSIP Number)

Abdiel Capital

90 Park Avenue, 29th Floor

New York, NY 10016

Attn: Colin T. Moran

Tel: (646) 496-9202

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

October 6, 2023

(Date of Event Which Requires Filing of This Statement)

 

 

If the filing person has previously filed a statement on Schedule 13G to report the acquisition which is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d-1(e), 13d-1(f) or 13d-1(g), check the following box. ☒

 

 

Note. Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See Rule 13d-7 for other parties to whom copies are to be sent.

 

 

*

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 disclosures provided in a prior cover page.

The information required on 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. 22658D100

 

 1.   

 NAME OF REPORTING PERSONS

 

 Abdiel Qualified Master Fund, LP

 

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

 2.  

 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

 (a) ☐  (b) ☐

 

 3.  

 SEC USE ONLY

 

 4.  

 SOURCE OF FUNDS

 

 Not Applicable

 5.  

 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) or 2(e)

 

 ☐

 6.  

 CITIZENSHIP OR PLACE OF ORGANIZATION

 

 Cayman Islands

NUMBER OF

SHARES  BENEFICIALLY 

OWNED BY

EACH

REPORTING

PERSON

WITH

 

     7.   

 SOLE VOTING POWER

 

 0

    8.  

 SHARED VOTING POWER

 

 13,117,587

    9.  

 SOLE DISPOSITIVE POWER

 

 0

   10.  

 SHARED DISPOSITIVE POWER

 

 13,117,587

11.   

 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

 13,117,587

12.  

 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES

 

 ☐

13.  

 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

 

 24.8% (1)

14.  

 TYPE OF REPORTING PERSON

 

 PN

 

(1)

Based on 52,972,343 shares of Class A Common Stock outstanding as of August 1, 2023, as reported in the Issuer’s Report on Form 10-Q for the period ended June 30, 2023 filed with the Securities and Exchange Commission on August 9, 2023.

 

2

CUSIP No. 22658D100

 

 1.   

 NAME OF REPORTING PERSONS

 

 Abdiel Capital, LP

 

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

 2.  

 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

 (a) ☐  (b) ☐

 

 3.  

 SEC USE ONLY

 

 4.  

 SOURCE OF FUNDS

 

 Not Applicable

 5.  

 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) or 2(e)

 

 ☐

 6.  

 CITIZENSHIP OR PLACE OF ORGANIZATION

 

 Delaware

NUMBER OF

SHARES  BENEFICIALLY 

OWNED BY

EACH

REPORTING

PERSON

WITH

 

     7.   

 SOLE VOTING POWER

 

 0

    8.  

 SHARED VOTING POWER

 

 468,716

    9.  

 SOLE DISPOSITIVE POWER

 

 0

   10.  

 SHARED DISPOSITIVE POWER

 

 468,716

11.   

 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

 468,716

12.  

 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES

 

 ☐

13.  

 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

 

 0.9% (1)

14.  

 TYPE OF REPORTING PERSON

 

 PN

 

(1)

Based on 52,972,343 shares of Class A Common Stock outstanding as of August 1, 2023, as reported in the Issuer’s Report on Form 10-Q for the period ended June 30, 2023 filed with the Securities and Exchange Commission on August 9, 2023.

 

3

CUSIP No. 22658D100

 

 1.   

 NAME OF REPORTING PERSONS

 

 Abdiel Capital Management, LLC

 

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

 2.  

 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

 (a) ☐  (b) ☐

 

 3.  

 SEC USE ONLY

 

 4.  

 SOURCE OF FUNDS

 

 Not Applicable

 5.  

 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) or 2(e)

 

 ☐

 6.  

 CITIZENSHIP OR PLACE OF ORGANIZATION

 

 Delaware

NUMBER OF

SHARES  BENEFICIALLY 

OWNED BY

EACH

REPORTING

PERSON

WITH

 

     7.   

 SOLE VOTING POWER

 

 0

    8.  

 SHARED VOTING POWER

 

 13,586,303 (1)

    9.  

 SOLE DISPOSITIVE POWER

 

 0

   10.  

 SHARED DISPOSITIVE POWER

 

 13,586,303 (1)

11.   

 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

 13,586,303 (1)

12.  

 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES

 

 ☐

13.  

 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

 

 25.7% (2)

14.  

 TYPE OF REPORTING PERSON

 

 OO

 

(1)

Consists of 13,117,587 shares of Class A Common Stock held by Abdiel Qualified Master Fund, LP and 468,716 shares of Class A Common Stock held by Abdiel Capital, LP.

(2)

Based on 52,972,343 shares of Class A Common Stock outstanding as of August 1, 2023, as reported in the Issuer’s Report on Form 10-Q for the period ended June 30, 2023 filed with the Securities and Exchange Commission on August 9, 2023.

 

4

CUSIP No. 22658D100

 

 1.   

 NAME OF REPORTING PERSONS

 

 Abdiel Capital Advisors, LP

 

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

 2.  

 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

 (a) ☐  (b) ☐

 

 3.  

 SEC USE ONLY

 

 4.  

 SOURCE OF FUNDS

 

 Not Applicable

 5.  

 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) or 2(e)

 

 ☐

 6.  

 CITIZENSHIP OR PLACE OF ORGANIZATION

 

 Delaware

NUMBER OF

SHARES  BENEFICIALLY 

OWNED BY

EACH

REPORTING

PERSON

WITH

 

     7.   

 SOLE VOTING POWER

 

 0

    8.  

 SHARED VOTING POWER

 

 13,586,303 (1)

    9.  

 SOLE DISPOSITIVE POWER

 

 0

   10.  

 SHARED DISPOSITIVE POWER

 

 13,586,303 (1)

11.   

 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

 13,586,303 (1)

12.  

 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES

 

 ☐

13.  

 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

 

 25.7% (2)

14.  

 TYPE OF REPORTING PERSON

 

 PN, IA

 

(1)

Consists of 13,117,587 shares of Class A Common Stock held by Abdiel Qualified Master Fund, LP and 468,716 shares of Class A Common Stock held by Abdiel Capital, LP.

(2)

Based on 52,972,343 shares of Class A Common Stock outstanding as of August 1, 2023, as reported in the Issuer’s Report on Form 10-Q for the period ended June 30, 2023 filed with the Securities and Exchange Commission on August 9, 2023.

 

5

CUSIP No. 22658D100

 

 1.   

 NAME OF REPORTING PERSONS

 

 Colin T. Moran

 

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

 2.  

 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

 (a) ☐  (b) ☐

 

 3.  

 SEC USE ONLY

 

 4.  

 SOURCE OF FUNDS

 

 Not Applicable

 5.  

 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) or 2(e)

 

 ☐

 6.  

 CITIZENSHIP OR PLACE OF ORGANIZATION

 

 United States

NUMBER OF

SHARES  BENEFICIALLY 

OWNED BY

EACH

REPORTING

PERSON

WITH

 

     7.   

 SOLE VOTING POWER

 

 0

    8.  

 SHARED VOTING POWER

 

 13,586,303 (1)

    9.  

 SOLE DISPOSITIVE POWER

 

 0

   10.  

 SHARED DISPOSITIVE POWER

 

 13,586,303 (1)

11.   

 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

 13,586,303 (1)

12.  

 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES

 

 ☐

13.  

 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

 

 25.7% (2)

14.  

 TYPE OF REPORTING PERSON

 

 IN

 

(1)

Consists of 13,117,587 shares of Class A Common Stock held by Abdiel Qualified Master Fund, LP and 468,716 shares of Class A Common Stock held by Abdiel Capital, LP.

(2)

Based on 52,972,343 shares of Class A Common Stock outstanding as of August 1, 2023, as reported in the Issuer’s Report on Form 10-Q for the period ended June 30, 2023 filed with the Securities and Exchange Commission on August 9, 2023.

 

6

CUSIP No. 22658D100

 

AMENDMENT NO. 29 TO SCHEDULE 13D

Reference is hereby made to the statement on Schedule 13D filed with the Securities and Exchange Commission by the Reporting Persons with respect to the Class A Common Stock of the Issuer on June 25, 2021, Amendment No. 1 thereto filed on July 13, 2021, Amendment No. 2 thereto filed on July 14, 2021, Amendment No. 3 thereto filed on July 20, 2021, Amendment No. 4 thereto filed on July 30, 2021, Amendment No. 5 thereto filed on August 2, 2021, Amendment No. 6 thereto filed on August 13, 2021, Amendment No. 7 thereto filed on August 18, 2021, Amendment No. 8 thereto filed on August 19, 2021, Amendment No. 9 thereto filed on August 23, 2021, Amendment No. 10 thereto filed on August 27, 2021, Amendment No. 11 thereto filed on September 16, 2021, Amendment No. 12 thereto filed on September 20, 2021, Amendment No. 13 thereto filed on September 23, 2021, Amendment No. 14 thereto filed on November 12, 2021, Amendment No. 15 thereto filed on November 15, 2021, Amendment No. 16 thereto filed on November 26, 2021, Amendment No. 17 thereto filed on December 2, 2021, Amendment No. 18 thereto filed on December 22, 2021, Amendment No. 19 thereto filed on January 21, 2022, Amendment No. 20 thereto filed on January 28, 2022, Amendment No. 21 thereto filed on February 4, 2022, Amendment No. 22 thereto filed on February 25, 2022, Amendment No. 23 thereto filed on March 10, 2022, Amendment No. 24 thereto filed on March 22, 2022, Amendment No. 25 thereto filed on April 8, 2022, Amendment No. 26 thereto filed on May 12, 2022, Amendment No. 27 thereto filed on March 14, 2023 and Amendment No. 28 filed on August 9, 2023 (as so amended, the “Schedule 13D”). Terms defined in the Schedule 13D are used herein as so defined.

 

Item 5.

Interest in Securities of the Issuer.

The following paragraphs of Item 5 of the Schedule 13D are hereby amended and restated as follows:

(a) – (b) The information requested by these paragraphs is incorporated herein by reference to the cover pages to this Amendment No. 29 to Schedule 13D.

(c) Information with respect to all transactions in the Common Stock effected by the Reporting Persons in the last sixty days is incorporated herein by reference to Exhibit A attached hereto.

 

Item 7.

Material to be Filed as Exhibits.

Exhibit A – Transactions Effected in the Last Sixty Days

 

7

CUSIP No. 22658D100

 

SIGNATURES

After reasonable inquiry and to the best of their knowledge and belief, the undersigned certify that the information set forth in this statement is true, complete and correct.

Dated: October 11, 2023

 

ABDIEL QUALIFIED MASTER FUND, LP
By:   Abdiel Capital Management, LLC,
  its General Partner
By:   /s/ Colin T. Moran
  Colin T. Moran, Managing Member
ABDIEL CAPITAL, LP
By:   Abdiel Capital Management, LLC,
  its General Partner
By:   /s/ Colin T. Moran
  Colin T. Moran, Managing Member
ABDIEL CAPITAL MANAGEMENT, LLC
By:   /s/ Colin T. Moran
  Colin T. Moran, Managing Member
ABDIEL CAPITAL ADVISORS, LP
By:   Abdiel Capital Partners, LLC,
  its General Partner
By:   /s/ Colin T. Moran
  Colin T. Moran, Managing Member
COLIN T. MORAN
By:   /s/ Colin T. Moran
  Colin T. Moran, Individually

 

8

EX-99.A 2 d555857dex99a.htm EXHIBIT A Exhibit A

CUSIP No. 22658D100

 

EXHIBIT A

TRANSACTIONS EFFECTED IN THE LAST SIXTY DAYS

All of the below transactions in the Common Stock were traded in the ordinary course on the NASDAQ Stock Market.

Abdiel Capital Advisors, LP serves as the investment manager of Abdiel Qualified Master Fund, LP and effected the below transactions.

 

Transaction Date

    Transaction
Type		      Amount of Securities      Price Per Share  

10/06/2023

      Sale        1,299,695      $ 8.70  

Abdiel Capital Advisors, LP serves as the investment manager of Abdiel Capital, LP and effected the below transactions.

 

Transaction Date

    Transaction
Type		      Amount of Securities      Price Per Share  

10/06/2023

      Sale        305      $ 8.70  

 

9