424B3 1 tm2323300d2_424b3.htm 424B3

 

Filed Pursuant to Rule 424(b)(3)
Registration No. 333-269268

 

PROSPECTUS SUPPLEMENT NO. 9

(to the Prospectus dated March 24, 2023)

 

 

MariaDB plc

 

16,351,314 Ordinary Shares Underlying Warrants

56,414,951 Ordinary Shares by selling holders

7,310,297 Warrants to Purchase Ordinary Shares by selling holders

 

This prospectus supplement updates, amends and supplements the prospectus, dated March 24, 2023 (the “Prospectus”), which forms a part of our registration statement on Form S-1 (No. 333-269268), with the information contained in our Current Report on Form 8-K filed with the Securities and Exchange Commission on August 14, 2023 (“Current Report”). Accordingly, we have attached the Current Report to this prospectus supplement.

 

The Prospectus and this prospectus supplement relate to the issuance by us of an aggregate of up to 16,351,314 Ordinary Shares (as defined in the Prospectus), consisting of:

 

    up to 7,310,297 Ordinary Shares that are issuable upon the exercise of the Private Placement Warrants (as defined in the Prospectus);

 

    up to 8,850,458 Ordinary Shares that are issuable upon the exercise of the Public Warrants (as defined in the Prospectus); and

 

    up to 190,559 Ordinary Shares that are issuable upon exercise of the Kreos Warrants (as defined in the Prospectus).

 

The Public Warrants, which are exercisable at a price of $11.50 per share, were originally sold as part of the APHC Public Units (as defined in the Prospectus) purchased by public investors in the APHC IPO (as defined in the Prospectus) at a price of $10.00 per APHC Public Unit. The Private Placement Warrants, which are exercisable at a price of $11.50 per share, were originally purchased by the Sponsor (as defined in the Prospectus) concurrent with the consummation of the APHC IPO at a price of $1.00 per warrant. Prior to the consummation of the Irish Domestication Merger (as defined in the Prospectus), 1,600,000 Private Placement Warrants were transferred by the Sponsor to the Syndicated Investors (as defined in the Prospectus) pursuant to the At Risk Capital Syndication (as defined in the Prospectus) (at a price per warrant of $1.00), and 5,710,297 Private Placement Warrants were transferred to the Sponsor’s co-founders, Lionyet International Ltd. (an entity owned and controlled by Shihuang “Simon” Xie) and Theodore T. Wang. The Kreos Warrants, which are exercisable at a price of €2.29 per share, were originally issued to Kreos (as defined in the Prospectus) by Legacy MariaDB (as defined in the Prospectus) in connection with a loan facility that is no longer outstanding. The Private Placement Warrants, the Public Warrants and the Kreos Warrants are sometimes referred to collectively in the Prospectus as the “Warrants.” To the extent that the Warrants are exercised for cash, we will receive the proceeds from such exercises.

 

The Prospectus and this prospectus supplement also relate to the offer and sale from time to time by the selling holders named in the Prospectus or their permitted transferees (the “selling holders”) of (i) up to 7,310,297 Private Placement Warrants and (ii) up to 56,414,951 Ordinary Shares, consisting of:

 

    1,915,790 Ordinary Shares held by the PIPE Investors (as defined in the Prospectus), which they purchased in connection with the consummation of the PIPE Investment (as defined in the Prospectus) at a price of $9.50 per share;

 

 

 

 

    4,857,870 Founder Shares (as defined in the Prospectus) currently held by the Sponsor’s co-founders, Lionyet International Ltd. (an entity owned and controlled by Shihuang “Simon” Xie) and Theodore T. Wang, which were originally acquired by the Sponsor at a price of approximately $0.004 per share and transferred to its co-founders prior to the consummation of the Irish Domestication Merger;

 

    65,000 Founder Shares held by individuals who served as independent directors of APHC or otherwise provided services prior to the consummation of the Business Combination (as defined in the Prospectus), which were transferred from the Sponsor (who originally acquired such shares at a price of approximately $0.004 per share) in consideration of such services;

 

    1,550,000 Founders Shares held by certain Syndicated Investors, which were originally acquired by the Sponsor at a price of approximately $0.004 per share and transferred to such Syndicated Investors prior to the consummation of the Irish Domestication Merger in connection with the At Risk Capital Syndication (at a price of $3.00 per share);

 

    38,897,106 Ordinary Shares held by former affiliates and certain other shareholders of Legacy MariaDB, which, upon consummation of the Merger, were issued to them pursuant to the terms of the Merger Agreement in exchange for shares of (i) Legacy MariaDB they had previously purchased from Legacy MariaDB in private placement transactions or on exercise of Legacy MariaDB Equity Awards or warrants, at prices per share ranging from $0.38 to $7.50, as adjusted based on the Exchange Ratio (as defined in the Prospectus);

 

    1,818,888 Ordinary Shares issuable upon exercise of stock options held by certain of our executive officers and directors, at exercise prices ranging from $0.38 to $4.15 per Ordinary Share; and

 

    7,310,297 Ordinary Shares issuable upon exercise of the Private Placement Warrants held by Lionyet International Ltd. and Dr. Wang, the Sponsor’s co-founders, and the Syndicated Investors.

 

We are registering the Ordinary Shares and Private Placement Warrants that may be offered and sold by selling holders from time to time pursuant to their registration rights under certain agreements between us and the selling holders or their affiliates, as applicable.

 

This prospectus supplement is not complete without the Prospectus. This prospectus supplement should be read in conjunction with the Prospectus, including any amendments or supplements thereto, which is to be delivered with this prospectus supplement., This prospectus supplement is qualified by reference to the Prospectus, including any amendments or supplements thereto, except to the extent that the information in this prospectus supplement updates or supersedes the information contained therein. Capitalized terms used in this prospectus supplement and not otherwise defined herein have the meanings specified in the Prospectus.

 

Our Ordinary Shares and Public Warrants are listed on The New York Stock Exchange (“NYSE”) under the symbols “MRDB” and “MRDBW”, respectively. On August 11, 2023, the closing sale prices of our Ordinary Shares and Public Warrants were $0.92 and $0.1349, respectively.

 

We are an “emerging growth company” and a “smaller reporting company” as defined under the U.S. federal securities laws and, as such, may elect to comply with certain reduced public company reporting requirements for this and future filings.

 

Investing in our Ordinary Shares and Warrants involves a high degree of risk. See the section entitled “Risk Factors” beginning on page 9 of the Prospectus.

 

Neither the Securities and Exchange Commission nor any state securities commission has approved or disapproved of these securities or passed upon the accuracy or adequacy of the Prospectus or this prospectus supplement. Any representation to the contrary is a criminal offense.

 

The date of this prospectus supplement is August 14, 2023.

 

 

 

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(D)

OF THE SECURITIES EXCHANGE ACT OF 1934

 

Date of Report (Date of earliest event reported): August 14, 2023

 

MariaDB plc

(Exact name of registrant as specified in its charter)

 

Ireland   001-41571   N/A

(State or other jurisdiction

of incorporation)

 

(Commission

File Number)

 

(I.R.S. Employer

Identification No.)

 

699 Veterans Blvd

Redwood City, CA 94063

(Address of principal executive offices, including zip code)

 

(855) 562-7423

(Registrant’s telephone number, including area code)

 

Not Applicable

(Former name or former address, if changed since last report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

¨ Written communication pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class   Trading Symbol(s)   Name of each exchange on which registered
Ordinary Shares, nominal value $0.01 per share   MRDB   New York Stock Exchange
Warrants, each whole warrant exercisable for one Ordinary Share at an exercise price of $11.50 per share   MRDBW   New York Stock Exchange

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

 

Emerging growth company x

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

 

 

 

 

 

Item 2.02 Results of Operations and Financial Condition.

 

On August 14, 2023, MariaDB plc issued a press release announcing its financial results for its third fiscal quarter ended June 30, 2023. A copy of the press release is furnished herewith as Exhibit 99.1 and is incorporated herein by reference.

 

The information furnished under this Item 2.02, including Exhibit 99.1, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), nor will it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended (the “Securities Act”), or the Exchange Act, except as expressly set forth by specific reference in such a filing.

 

Exhibit No.                        Description

 

99.1                 Press Release dated August 14, 2023

104                  Cover Page Interactive Data File (embedded within the Inline XBRL document).

 

 

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

  MariaDB plc
Dated: August 14, 2023  
  By: /s/ Conor McCarthy
    Name: Conor McCarthy
    Title:  Chief Financial Officer

 

 

 

 

EXHIBIT 99.1

 

MariaDB Announces Third Quarter Fiscal 2023 Financial Results

 

REDWOOD CITY, Calif. and DUBLIN – August 14, 2023 – MariaDB plc (NYSE:MRDB) today announced its financial results for the third quarter of fiscal year 2023, which ended June 30, 2023.

 

“We drove strong 22% year-over-year revenue growth in the third quarter, which is consistent with our revenue growth rate over the last few years,” said Paul O’Brien, CEO at MariaDB plc. “While we are growing at a steady pace, we have also demonstrated restraint on spending thanks to a company wide effort. Looking ahead, we are excited to leverage five years of foundational Artificial Intelligence and Machine Learning (AI/ML) experience to build new AI/ML database features that will allow customers to predict, classify and even communicate with the database in bespoke ways tailored to specific business needs.”

 

Third Quarter Fiscal 2023 Financial Highlights

 

Revenue: Total revenue was $13.0 million for the third quarter of fiscal 2023, an increase of 22% year-over-year.
Annual recurring revenue (ARR): Total ARR as of June 30, 2023 was $55.0 million, an increase of 14% year-over-year.
Gross profit: Gross profit was $9.4 million for the third quarter of fiscal 2023, representing a 72% gross margin compared to 65% in the year-ago period.
Loss from operations: Loss from operations was $12.2 million for the third quarter of fiscal 2023, compared to a loss of $13.1 million in the year-ago period.
Net loss: Net loss was $9.7 million, or $0.14 per share. This compared to a net loss of $9.6 million, or $0.69 per share, in the year-ago period.

 

Business Highlights

 

Paul O’Brien was appointed CEO of MariaDB effective May 26, after joining the company in March as Senior Vice President of Sales and Field Operations. For 30+ years, O’Brien has leveraged his substantial experience in sales and customer success, as well as his track record of leading successful turnarounds and implementing world-class go-to-market strategies.
The MariaDB board appointed Tom Siegel as chief revenue officer (CRO) to lead the sales, consulting, support and training teams and Jonah Harris as chief technology officer (CTO) to lead product strategy, effective June 5, 2023.
The company held its global user conference MariaDB OpenWorks in New York City on May 11-12, 2023 where the company celebrated customers who are unstoppable with MariaDB. The event was the backdrop of the first MariaDB Wavemaker Awards, which included winners:
oEnterprise of the Year: Copart
oPartner of the Year: SADA Systems
oCloud Champion of the Year: WBX Commerce (formerly known as Whitebox)
oDatabase Transformation of the Year: Samsung SDS
oSaaS Application of the Year: Vergent LMS

 

Conference Call Information

 

MariaDB plc will host a live webcast at 1:30 p.m. Pacific Time (or 4:30 p.m. Eastern Time) on Monday, August 14, 2023 to discuss its financial results. The live webcast and replay of the webcast can be accessed from MariaDB plc's investor relations website at investors.mariadb.com. The webcast replay will be available for 12 months.

 

About MariaDB

 

MariaDB is a new generation cloud database company whose products are used by companies big and small, reaching more than a billion users through Linux distributions and have been downloaded over one billion times. Deployed in minutes and maintained with ease, leveraging cloud automation, our database products are engineered to support any workload, any cloud and any scale – all while saving up to 90% of proprietary database costs. Trusted by organizations such as Bandwidth, DigiCert, InfoArmor, Oppenheimer, Samsung, SelectQuote and SpendHQ, MariaDB’s software is the backbone of critical services that people rely on every day. Learn more at mariadb.com.

 

 

 

 

Key Business Metrics

 

We review a number of operating and financial metrics, including Annual Recurring Revenue (“ARR”), to evaluate our business, measure our performance, identify trends affecting our business, formulate business plans and make strategic decisions.

 

We believe that our ARR is an important indicator of our financial performance and operating results given the renewable nature of our business. ARR does not have a standardized meaning and is therefore unlikely to be comparable to similarly titled metrics presented by other companies. We define ARR as the annualized revenue for our subscription customers, excluding revenue from nonrecurring contract services (e.g., time and material consulting services). For our annual subscription customers, we calculate ARR as the annualized value of their subscription contracts as of the measurement date, assuming any contract that expires during the next 12 months is renewed on its existing terms (including contracts for which we are negotiating a renewal). In the event that we are negotiating a renewal with a customer after the expiration of their subscription, we continue to include that revenue in ARR if we are actively in discussion with the customer for a new subscription or renewal, or until we are notified that the customer will not be renewing its subscription. Additionally, a subset of customers under the MariaDB SkySQL subscription service offering has monthly pay-as-you-go contract terms. We calculate ARR as their monthly recurring revenue as of the measurement date, multiplied by 12. We consider these annualized pay-as-you-go revenues relevant in the determination of ARR as it aligns with our strategic goal to convert the pay-as-you-go customers to annual subscription customers.

 

ARR should be viewed independently of revenue, and does not represent our revenue under U.S. GAAP on an annualized basis, as it is an operating metric that can be impacted by contract start and end dates and renewal dates. ARR is not intended to be a replacement for or forecast of revenue. Our calculation of ARR is not adjusted for the impact of any known or projected events that may cause any such contract not to be renewed on its existing terms. Consequently, our ARR may fluctuate within each quarter and from quarter to quarter.

 

Forward-Looking Statements

 

This press release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements often contain words such as “expect,” “anticipate,” “intend,” “plan,” “project,” “estimate,” “believe,” “seek,” “see,” “will,” “would,” “target,” similar or comparable expressions, and variations or negatives of such words. Forward-looking statements by their nature address matters that are, to different degrees, uncertain, such as future opportunities for us and our products and services, the ultimate length and value of contractual relationships with our customers, and any other statements regarding MariaDB’s future operations, anticipated growth, financial or operating results or condition, capital allocation, market opportunities, strategies, anticipated business levels, future earnings, customer relationships (including terms), planned activities, competition, and other expectations and targets for future periods.

 

As a result of a number of known and unknown risks and uncertainties, our actual results, condition, or performance may be materially different from those expressed or implied by these forward-looking statements. Some factors that could cause actual results to differ include: (a) our ability to continue as a going concern and to secure additional financing needed to meet short-term and long-term liquidity needs; (b) the potential dilution of our shareholders' potential ownership due to future issuances of our ordinary shares; (c) our ability to maintain the listing of our ordinary shares, public warrants and other securities on the New York Stock Exchange; (d) our ability to realize the anticipated benefits of cost reductions, which may be affected by, among other things, needs of our business, customer demands, competition, and potential growth and expansion; (e) our ability to retain existing customers and their business and attract additional customers and business; (f) our ability to retain and recruit qualified personnel, directors and other key personnel; (g) our ability to expand, acquire and integrate technologies, personnel, and other assets; (h) intellectual property, information technology and privacy requirements that may subject us to unanticipated liabilities; (i) our ability to manage our operations, including potential growth and expansion of our business operations and building out controls, effectively; (j) any regulatory actions or litigation; and (k) other risks and uncertainties indicated from time to time in our filings with the Securities and Exchange Commission (“SEC”), such as on Forms 10-Q and 10-K, including those under “Risk Factors” therein, and other documents filed or to be filed with the SEC by us, which you should review and consider.

 

 

 

 

Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and we assume no obligation and, except as required by law, do not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. We give no assurance that we will achieve our expectations or plans, which may change over time.

 

Source: MariaDB

#earn-news

 

Contacts

 

Investors:

ir@mariadb.com

 

Media:

pr@mariadb.com

 

 

 

 

MariaDB plc

Condensed Consolidated Balance Sheets

(in thousands, except par value)

(unaudited)

 

   June 30,   September 30, 
   2023   20221 
ASSETS          
Current assets:          
Cash and cash equivalents  $12,860   $4,756 
Short-term investments       25,999 
Accounts receivable, net   12,425    12,154 
Prepaids and other current assets   5,321    15,463 
Total current assets   30,606    58,372 
Property and equipment, net   406    708 
Goodwill   7,944    7,535 
Intangible assets, net   915    1,120 
Operating lease right-of-use assets   736    890 
Other noncurrent assets   5,605    4,146 
Total assets  $46,212   $72,771 
LIABILITIES AND STOCKHOLDERS’ DEFICIT          
Current liabilities:          
Accounts payable  $3,108   $3,267 
Accrued expenses   6,171    8,902 
Operating lease liabilities   743    496 
Long-term debt, current   16,268    122 
Deferred revenue   28,034    26,236 
Total current liabilities   54,324    39,023 
Long-term debt, net of current       14,622 
Operating lease liabilities, net of current   35    433 
Deferred revenue, net of current   18,286    5,321 
Warrant liabilities   2,106    1,749 
Deferred tax liability   177     
Total liabilities   74,928    61,148 
Commitments and contingencies          
Convertible preferred shares, par value of $0 per share       206,969 
Stockholders’ equity (deficit):          
Ordinary shares, par value of $0.01 per share   674     
Additional paid-in-capital   213,254    11,482 
Accumulated deficit   (231,738)   (197,523)
Accumulated other comprehensive income (loss)   (10,906)   (9,305)
Total stockholders’ equity (deficit)   (28,716)   (195,346)
Total liabilities, convertible preferred shares and stockholders’ equity (deficit)  $46,212   $72,771 

 

1Reflects the impact of immaterial revisions to the financial statements.

 

 

 

 

MariaDB plc

Condensed Consolidated Statements of Operations and Comprehensive Loss

(in thousands, except share and per share amounts)

(unaudited)

 

   Three Months Ended June 30,   Nine Months Ended June 30, 
   2023   20221   2023   20221 
Revenue:                    
Subscription  $11,539   $9,406   $34,837   $28,425 
Services   1,503    1,290    4,484    3,665 
Total revenue   13,042    10,696    39,321    32,090 
Cost of revenue:                    
Subscription   1,822    1,832    4,957    4,859 
Services   1,866    1,904    5,315    4,945 
Total cost of revenue   3,688    3,736    10,272    9,804 
Gross profit   9,354    6,960    29,049    22,286 
Operating expenses:                    
Research and development   8,668    8,555    27,415    25,911 
Sales and marketing   6,290    7,547    20,465    19,795 
General and administrative   6,631    3,915    18,850    11,007 
Total operating expense   21,589    20,017    66,730    56,713 
Loss from operations   (12,235)   (13,057)   (37,681)   (34,427)
Other (expense) income:                    
Interest expense   (307)   (242)   (821)   (1,472)
Change in fair value of warrant liabilities   1,807    303    5,835    (4,442)
Other income (expense), net   1,077    3,434    (1,531)   4,400 
Loss before income tax expense   (9,658)   (9,562)   (34,198)   (35,941)
Income tax expense   (11)   (26)   (17)   (54)
Net loss  $(9,669)  $(9,588)  $(34,215)  $(35,995)
Net loss per share attributable to common shares – basic and diluted  $(0.14)  $(0.69)  $(0.65)  $(2.71)
Weighted-average shares outstanding – basic and diluted   66,999,987    13,864,320    52,444,086    13,264,834 
Comprehensive Loss:                    
Net loss  $(9,669)  $(9,588)  $(34,215)  $(35,995)
Foreign currency translation adjustment, net of taxes   (91)   (2,387)   576    (2,155)
Unrealized gain (loss) from available-for-sale securities, net of taxes           (2,177)    
Total comprehensive loss  $(9,760)  $(11,975)  $(35,816)  $(38,150)

 

1Reflects the impact of immaterial revisions to the financial statements.