Form 4: Shopify Strategic Holdings 3 LLC Reports Transaction in Klaviyo, Inc. (KVYO)

Shopify Strategic Holdings 3 LLC, a 10% owner of Klaviyo, Inc., reports a transaction involving warrants to purchase Series B Common Stock.

Summary

• Shopify Strategic Holdings 3 LLC, along with Shopify Inc., filed a Form 4 with the SEC on February 21, 2025.
• The filing reports a transaction involving warrants to purchase Series B Common Stock of Klaviyo, Inc. (KVYO).
• Shopify Strategic Holdings 3 LLC acquired 344,382 warrants with an exercise price of $0.01.
• These warrants are exercisable for Series B Common Stock, which is convertible into Series A Common Stock.
• 25% of the shares subject to the warrants vested on July 28, 2022, with the remaining shares vesting quarterly through July 28, 2027.
• An additional 25% of the total number of shares subject to the warrants vested immediately prior to Klaviyo's IPO.
• Shopify Strategic Holdings 3 LLC directly holds 3,443,822 shares of Series B Common Stock and Shopify Inc. disclaims beneficial ownership except to the extent of its pecuniary interest.
• Shopify Inc. is an indirect beneficial owner of the securities held by its wholly-owned subsidiary, Shopify Strategic Holdings 3 LLC.

Sentiment

Score: 5

Explanation: The document is a standard SEC filing reporting a transaction. It doesn't inherently convey positive or negative sentiment.

Industry Context

This filing reflects the ongoing relationship between Shopify and Klaviyo, likely stemming from a partnership or investment made prior to Klaviyo's IPO. Shopify's continued ownership stake is typical for companies that have strategic partnerships or early investments in other businesses.

Key Dates

Keywords

Form 4, Klaviyo, Shopify, Warrants, Series B Common Stock, Beneficial Ownership, Transaction