SCHEDULE 13G: Lynrock Lake Entities Disclose 6.6% Passive Stake in BigCommerce Holdings

Lynrock Lake LP, Lynrock Lake Partners LLC, and Cynthia Paul have jointly reported a 6.6% beneficial ownership stake in BigCommerce Holdings, Inc. as of December 31, 2024, held for passive investment purposes.

Summary

• The filing is a Schedule 13G, reporting beneficial ownership of Series 1 common stock of BigCommerce Holdings, Inc. (Issuer).
• The Reporting Persons are Lynrock Lake LP, Lynrock Lake Partners LLC, and Cynthia Paul.
• As of December 31, 2024, the Reporting Persons collectively beneficially own 5,188,398 shares of BigCommerce Holdings, Inc. Series 1 common stock.
• This ownership represents 6.6% of the outstanding Series 1 common stock.
• The percentage is calculated based on 78,379,980 shares outstanding as of November 5, 2024, as reported in the Issuer's Form 10-Q filed on November 7, 2024.
• The Reporting Persons have sole voting and sole dispositive power over all 5,188,398 shares.
• The securities were acquired and are held in the ordinary course of business and not for the purpose of or with the effect of changing or influencing the control of the Issuer.

Sentiment

Score: 6

Explanation: The document is a routine regulatory filing (Schedule 13G) indicating a significant passive investment by an institutional entity. It contains no positive or negative operational news about the issuer, BigCommerce Holdings, Inc., but the presence of a substantial institutional investor can be seen as a neutral to slightly positive signal of confidence.

Positives

• The disclosure of a significant 6.6% stake by institutional investors (Lynrock Lake LP, Lynrock Lake Partners LLC) and an individual (Cynthia Paul) can be viewed as a signal of confidence in BigCommerce Holdings, Inc.
• The filing explicitly states that the securities are held for passive investment purposes and not to influence control, which indicates a non-activist stance.

Future Outlook

This Schedule 13G filing does not contain any forward-looking statements or guidance from BigCommerce Holdings, Inc. regarding its future performance or strategic outlook. It solely pertains to the beneficial ownership disclosure of certain investors.

Management Comments

• "By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and 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."

Industry Context

This filing indicates a significant passive investment by an institutional entity in BigCommerce Holdings, Inc., a company operating in the e-commerce platform and software-as-a-service (SaaS) industry. While the filing itself does not provide industry trends, it suggests continued institutional interest in companies within the digital commerce ecosystem.

Stakeholder Impact

• Shareholders: Disclosure of a significant passive institutional investor holding 6.6% of the common stock, potentially signaling institutional confidence in the company's long-term prospects.

Key Dates

Keywords

BigCommerce Holdings, Series 1 common stock, Schedule 13G, beneficial ownership, Lynrock Lake LP, Lynrock Lake Partners LLC, Cynthia Paul, e-commerce, SaaS, investment, passive stake