Item 1. | |
(a) | Name of issuer:
Starco Brands, Inc. |
(b) | Address of issuer's principal executive
offices:
706 North Citrus Avenue, Los Angeles, CA 90038 |
Item 2. | |
(a) | Name of person filing:
GV 2016, L.P., a Delaware limited partnership (the "2016 Partnership");
GV 2016 GP, L.P., a Delaware limited partnership ("2016 GP");
GV 2016 GP, L.L.C., a Delaware limited liability company ("2016 LLC");
Alphabet Holdings LLC, a Delaware limited liability company ("Alphabet Holdings");
XXVI Holdings Inc., a Delaware corporation ("XXVI");and
Alphabet Inc., a Delaware corporation ("Parent" and, together with the 2016 Partnership, 2016 GP, 2016 LLC, Alphabet Holdings, and XXVI, the "Reporting Persons"). |
(b) | Address or principal business office or, if
none, residence:
The address of the principal business office of each of the Reporting Persons is:
1600 Amphitheatre Parkway
Mountain View, CA 94043 |
(c) | Citizenship:
Each of the Reporting Persons is formed, organized or incorporated, as applicable, in the State of Delaware. |
(d) | Title of class of securities:
Class A Common Stock, par value $0.001 per share |
(e) | CUSIP No.:
85526F201 |
Item 3. | If this statement is filed pursuant to §§
240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a: |
(a) | Broker
or dealer registered under section 15 of the Act (15 U.S.C. 78o); |
(b) | Bank
as defined in section 3(a)(6) of the Act (15 U.S.C. 78c); |
(c) | Insurance
company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c); |
(d) | Investment
company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8); |
(e) | An
investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E); |
(f) | An
employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F); |
(g) | A
parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G); |
(h) | A
savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C.
1813); |
(i) | A
church plan that is excluded from the definition of an investment company under section 3(c)(14)
of the Investment Company Act of 1940 (15 U.S.C. 80a-3); |
(j) | A
non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S.
institution in accordance with § 240.13d-1(b)(1)(ii)(J), please
specify the type of institution: |
(k) | Group,
in accordance with Rule 240.13d-1(b)(1)(ii)(K). |
| |
Item 4. | Ownership |
(a) | Amount beneficially owned:
Reference to "beneficial ownership" of securities of Starco Brands, Inc. (the "Issuer") for purposes of this statement (this "Statement") shall be understood to refer to beneficial ownership as that term is defined in Rule 13d-3 of the Securities Exchange Act of 1934, as amended (the "Exchange Act").
Each Reporting Person's beneficial ownership of the Issuer's securities is reported in this Statement as of December 31, 2024, which is the most recent practicable date for which their beneficial ownership may be confirmed. The ownership reported herein as of December 31, 2024 remains the same as of the date set forth on the signature page below.
The Reporting Persons may be deemed to beneficially own an aggregate 99,510,805 shares of the Issuer's Class A Common Stock.
The 2016 Partnership is the direct beneficial owner of all of the securities described in the preceding paragraph. 2016 GP is the general partner of the 2016 Partnership, and 2016 LLC is the general partner of 2016 GP. Additionally: (i) Alphabet Holdings is the sole managing member of 2016 LLC; (ii) XXVI is the sole managing member of Alphabet Holdings; and (iii) Parent is the controlling stockholder of XXVI. As such, for purposes of Section 13(d) of the Exchange Act, each of 2016 GP, 2016 LLC, Alphabet Holdings, XXVI, and Parent may be deemed to indirectly beneficially own all of the Issuer's securities directly beneficially owned by the 2016 Partnership.
Pursuant to the terms of that certain Agreement and Plan of Merger (the "Merger Agreement"), dated February 14, 2023, entered into by and among: (i) the Issuer; (ii) Starco Merger Sub I, Inc., a Delaware corporation; (iii) Soylent Nutrition, Inc., a Delaware corporation ("Soylent"); and (iv) Hamilton Start, LLC, solely in its capacity as the representative of the Soylent equityholders, the 2016 Partnership received additional shares of the Issuer's Class A Common Stock for no additional consideration in respect of a post-closing working capital adjustment (the "Working Capital Adjustment").
Pursuant to the terms of the Merger Agreement as further modified by that certain Stockholder Agreement (the "Stockholder Agreement") entered into on March 15, 2024, by and between the Issuer and certain Soylent stockholders, the 2016 Partnership may be entitled to receive additional shares of the Issuer's Class A Common Stock for no additional consideration if the volume weighted average trading price of the Issuer's Class A Common Stock is less than $0.35 per share for each of the 30-trading day periods ending on: (i) February 14, 2024 (the "First Post-Closing Adjustment") and (ii) May 15, 2025 (the "Second Post-Closing Adjustment").
The shares issuable pursuant to the Working Capital Adjustment and the First Post-Closing Adjustment were issued on a delayed basis during 2024, retroactive to their respective contractually agreed post-closing adjustment dates. The number of securities reported in this Statement as beneficially owned by the Reporting Persons includes the shares issued pursuant to the Working Capital Adjustment and the First Post-Closing Adjustment but does not include any securities which may be issued at a future date pursuant to the Second Post-Closing Adjustment.
The foregoing description of the Merger Agreement is not complete and is qualified in its entirety by reference to the full text of the Merger Agreement, which was filed by the Issuer with the SEC on February 21, 2023, as Exhibit 2.1 to the Issuer's Current Report filed on Form 8-K (File No. 000-54892). The foregoing description of the Stockholder Agreement, the First Post-Closing Adjustment, and the Second Post-Closing Adjustment is not complete and is qualified in its entirety by reference to the full text of the Stockholder Agreement, which was filed by the Issuer with the SEC on March 21, 2024, as Exhibit 10.1 to the Issuer's Current Report filed on Form 8-K (File No. 000-54892). |
(b) | Percent of class:
The percentage reported below was calculated in accordance with Rule 13(d)-3(d)(1)(i) promulgated under the Exchange Act and in reliance on the aggregate total of 647,431,696 shares of the Issuer's Class A Common Stock outstanding as of November 14, 2024, reported by the Issuer in its Quarterly Report for the period ended September 30, 2024, filed on Form 10-Q with the SEC on November 14, 2024.
As of December 31, 2024, the Reporting Persons were deemed to directly or indirectly beneficially own 15.4% of the Issuer's outstanding Class A Common Stock. % |
(c) | Number of shares as to which the person has:
|
| (i) Sole power to vote or to direct the vote:
2016 Partnership 0
2016 GP 0
2016 LLC 0
Alphabet Holdings 0
XXVI 0
Parent 0
|
| (ii) Shared power to vote or to direct the
vote:
2016 Partnership 99,510,805
2016 GP 99,510,805
2016 LLC 99,510,805
Alphabet Holdings 99,510,805
XXVI 99,510,805
Parent 99,510,805
|
| (iii) Sole power to dispose or to direct the
disposition of:
2016 Partnership 0
2016 GP 0
2016 LLC 0
Alphabet Holdings 0
XXVI 0
Parent 0
|
| (iv) Shared power to dispose or to direct the
disposition of:
2016 Partnership 99,510,805
2016 GP 99,510,805
2016 LLC 99,510,805
Alphabet Holdings 99,510,805
XXVI 99,510,805
Parent 99,510,805
|
Item 5. | Ownership of 5 Percent or Less of a Class. |
| |
Item 6. | Ownership of more than 5 Percent on Behalf of
Another Person. |
|
If any other person is known to have the right to receive or the power to direct
the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to
that effect should be included in response to this item and, if such interest relates to more
than 5 percent of the class, such person should be identified. A listing of the shareholders of
an investment company registered under the Investment Company Act of 1940 or the beneficiaries
of employee benefit plan, pension fund or endowment fund is not required.
Under certain circumstances described more specifically in the respective: (i) limited partnership agreements of the 2016 Partnership and 2016 GP and (ii) limited liability company agreement of 2016 LLC, the general and limited partners or members, as the case may be, of each of such Reporting Persons may be deemed to have the right to receive dividends from, or proceeds from the sale of, the Issuer's securities directly or indirectly owned by each Reporting Person of which it is a general partner, limited partner, or member. |
Item 7. | Identification and Classification of the
Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or
Control Person. |
|
Not Applicable
|
Item 8. | Identification and Classification of Members
of the Group. |
|
Not Applicable
|
Item 9. | Notice of Dissolution of Group. |
|
Not Applicable
|