Item 1. | Security and Issuer. |
The class of equity securities to which this statement relates is the common shares, $0.000037453 par value (the “Common Shares”), of Urovant Sciences Ltd., a Bermuda company (the “Issuer”). The address of the principal executive offices of the Issuer is Suite 1, 3rd Floor,11-12 St. James’s Square, London, United Kingdom SW1Y 4LB.
Item 2. | Identity and Background. |
(a)–(c) | This Schedule 13D is filed by SVF Investments (UK) Limited (“SVF Investments”), which is a wholly owned subsidiary of SVF Holdings (UK) LLP (“SVF Holdings”), which is a wholly owned subsidiary of SoftBank Vision Fund L.P. (“SoftBank Vision Fund”). SVF GP (Jersey) Limited (“SVF GP”), is the general partner of SoftBank Vision Fund. SVF Investments, SVF Holdings, SoftBank Vision Fund and SVF GP are referred to herein collectively as the “Reporting Persons”. |
The principal executive offices of SVF Investments and SVF Holdings is 69 Grosvenor Street, London, United Kingdom W1K 3JP. The principal executive office of SVF GP and Softbank Vision Fund is Aztec Group House,11-15 Seaton Place, St. Helier, Jersey JE4 0QH.
The principal business of SVF GP is the management and control of the business of the SoftBank Vision Fund. The principal business of the SoftBank Vision Fund is to engage in making investments in securities of public and private companies. The principal business of SVF Investments and SVF Holdings is to directly hold securities of public and private companies, as determined by SVF GP, via SoftBank Vision Fund.
Each of Jonathan Bullock, Rajeev Misra, Simon King and Robert David Milner is a managing director of SVF GP. Messrs. Bullock, Misra, King and Milner are referred to collectively herein as the “Covered Persons.” The business addresses and principal occupations of each of the Covered Persons are set forth in Appendix A attached hereto, which is incorporated herein by reference. The business address of each Covered Person is also the address of the principal employer of such Covered Person.
(d) | During the last five years, none of the Reporting Persons nor any of the Covered Persons has been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors, if any). |
(e) | During the last five years, none of the Reporting Persons nor any of the Covered Persons was a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws. |
(f) | See Item 2(a)-(c) above for citizenship of each of the Reporting Persons. The citizenship of each of the Covered Persons is set forth in Appendix A attached hereto which is incorporated herein by reference. |
The information set forth or incorporated in Items 4 and 5 is hereby incorporated herein by reference.
Item 3. | Source and Amount of Funds or Other Consideration. |
Prior to the Issuer’s initial public offering, which closed on October 1, 2018 (the “IPO”), Roivant Sciences, Ltd. (“Roivant”) was the Issuer’s sole shareholder, directly owning 20,025,098 Common Shares. In connection with the IPO, Roivant agreed to purchase 2,678,571 Common Shares at an IPO price of $14.00 per share. Roivant acquired the Common Shares using cash on hand.
Item 4. | Purpose of Transaction. |
To the extent required by Item 4, the information contained in Items 3 above and 6 below is incorporated herein by reference.
Roivant directly owns the Common Shares that are the subject of this Schedule 13D. As shareholders of Roivant (following an acquisition effective September 6, 2017), the Reporting Persons are filing this Schedule 13D because they may be deemed to have dispositive power and, therefore, beneficial ownership, over the Common Shares directly held by Roivant by virtue of governance arrangements in Roivant’sbye-laws.
Effective July 8, 2016, Dr. Andrew Lo was appointed to the board of directors of Roivant (the “Roivant Board”). Effective October 18, 2016, Patrick Machado was appointed to the Roivant Board. Each of Dr. Lo and Mr. Machado is an “independent director” within the meaning of that term under Roivant’sbye-laws. As of the appointment of at least one independent director on the Roivant Board, SVF Investments, voting unanimously with the other major shareholders of Roivant, has the right to override certain decisions of the Roivant Board under Roivant’sbye-laws, including with respect to dispositions of Common Shares (the “Override Right”). The Reporting Persons are filing this Schedule 13D because they may be deemed to have “dispositive power” and, therefore, beneficial ownership, over the Common Shares owned directly