SCHEDULE 13G/A: Lightyear Entities Report Minimal 0.1% Stake in FirstSun Capital Bancorp, Signaling Significant Ownership Reduction
Ownership Disclosure Amendment
An amended Schedule 13G filing reveals that Lightyear Fund III and related entities now collectively hold a negligible 0.1% beneficial ownership in FirstSun Capital Bancorp, indicating a substantial reduction in their investment.
Summary
- This document is an Amendment No. 2 to a Schedule 13G filing by Lightyear Fund III, L.P., Lightyear Co-Invest Partnership III, L.P., and several related Lightyear entities, including Lightyear Capital III, LLC, Lightyear Capital LLC, Lightyear Capital Management LP, Lightyear Capital GP LLC, and individual Mark F. Vassallo.
- The filing reports beneficial ownership in FirstSun Capital Bancorp's Common Stock, par value $0.0001 per share (CUSIP: 33767U107).
- As of March 31, 2025, the aggregate amount beneficially owned by the reporting persons is 19,964 shares, representing 0.1% of the class.
- This percentage is calculated based on a total of 27,758,382 shares of common stock, which includes 27,753,918 shares outstanding as of March 31, 2024, and 4,464 shares underlying options held by Lightyear Capital III, LLC that are currently exercisable.
- Most Lightyear entities (Lightyear Fund III, L.P., Lightyear Co-Invest Partnership III, L.P., Lightyear Fund III GP, L.P., Lightyear Fund III GP Holdings, LLC, and LY Holdings, LLC) report 0.00 shares and 0% beneficial ownership.
- Lightyear Capital III, LLC, Lightyear Capital LLC, Lightyear Capital Management LP, Lightyear Capital GP LLC, and Mark F. Vassallo each report sole voting and dispositive power over 19,964 shares, representing 0.1% of the class.
- Lightyear Capital LLC, Lightyear Capital Management LP, Lightyear Capital GP LLC, and Mr. Vassallo disclaim beneficial ownership of the shares held by Lightyear Capital III, LLC, despite potentially being deemed to have voting and/or dispositive power due to their control relationships.
Sentiment
Score: 4
Explanation: The document is a factual disclosure of a significant reduction in beneficial ownership by a reporting group. While neutral in tone, the reduction to a de minimis 0.1% could be perceived as a negative signal regarding the reporting entities' conviction in the issuer.
Negatives
- The reporting group's beneficial ownership in FirstSun Capital Bancorp has been reduced to a de minimis 0.1%, suggesting a significant divestment or reduced interest from a previously substantial investor.
Future Outlook
NA
Industry Context
NA
Stakeholder Impact
- Shareholders: The significant reduction in beneficial ownership by a previously notable investor group may influence market perception and potentially the stock price, signaling a lack of continued conviction or a divestment.
Key Dates
| Date | Description |
|---|---|
| 2015-07-15 | Date of Limited Power of Attorney granted by Mark F. Vassallo to Ellan Ben-Hayon and Lori Forlano. |
| 2024-03-31 | Date as of which 27,753,918 shares of Common Stock were outstanding, as reported in the Issuer's current report on Form 8-K. |
| 2025-03-31 | Date of event which requires filing of this statement (beneficial ownership calculation date). |
| 2025-04-28 | Date of Issuer's current report on Form 8-K, which reported shares outstanding as of March 31, 2024. |
| 2025-04-30 | Date of filing of this Schedule 13G Amendment No. 2 and the Joint Filing Agreement. |
Keywords
SEC filing, Schedule 13G, beneficial ownership, FirstSun Capital Bancorp, Lightyear Capital, common stock, ownership reduction, investment disclosure
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