Form 4: Battery Partners XI Distributes Braze Inc. Shares In-Kind

Battery Partners XI and related entities distributed Braze, Inc. Class A Common Stock to their members in a pro rata, in-kind distribution.

Summary

• Battery Partners XI, LLC and affiliated entities, including Battery Ventures XI-A, L.P., Battery Ventures XI-B, L.P., Battery Ventures XI-A Side Fund, L.P., and Battery Ventures XI-B Side Fund, L.P., reported changes in their beneficial ownership of Braze, Inc. Class A Common Stock.
• The transactions involved pro rata, in-kind distributions of shares to the members, general partners, and limited partners of these entities without additional consideration.
• These distributions are not considered purchases or sales of securities.
• The reporting entities disclaim beneficial ownership of the securities except to the extent of their pecuniary interest.
• Battery Partners XI, LLC acquired 111,581 shares of Class A Common Stock and distributed 111,581 shares of Class A Common Stock.
• Battery Partners XI Side Fund, LLC acquired 750,000 shares of Class A Common Stock and distributed 750,000 shares of Class A Common Stock.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing related to a distribution of shares. It doesn't contain information that would significantly impact sentiment positively or negatively.

Industry Context

Venture capital firms often distribute shares of portfolio companies to their limited partners as part of the fund's lifecycle. This allows the partners to directly manage their investment in the company.

Stakeholder Impact

• The distribution of shares may increase the number of direct shareholders of Braze, Inc.

Key Dates