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Reporting Person | | Amount beneficially owned: | | | Percent of class: | | | Sole power to vote or direct the vote: | | | Shared power to vote or to direct the vote: | | | Sole power to dispose or to direct the disposition of: | | | Shared power to dispose or to direct the disposition of: | |
Mandra iBase Limited | | | 15,014,948 | | | | 19.2 | % | | | 15,014,948 | | | | 0 | | | | 15,014,948 | | | | 0 | |
Beansprouts Ltd. | | | 15,021,014 | | | | 19.2 | % | | | 15,021,014 | | | | 0 | | | | 15,021,014 | | | | 0 | |
Bing How Mui | | | 15,021,014 | | | | 19.2 | % | | | 0 | | | | 15,021,014 | | | | 0 | | | | 15,021,014 | |
Song Yi Zhang | | | 15,536,798 | | | | 19.8 | % | | | 515,784 | | | | 15,021,014 | | | | 515,784 | | | | 15,021,014 | |
As of December 31, 2020, 14,306,280 Class A common shares and 425,310 ADSs, representing 283,540 Class A common shares were directly held by Mandra iBase Limited, a British Virgin Islands company. In addition, as of December 31, 2020, 425,128 Class A common shares were issuable to Mandra iBase Limited upon the conversion of the three-year convertible note in the principal amount of US$5.0 million issued by the Issuer to Mandra iBase Limited in April 2018, at an assumed initial conversion price of US$11.7612 per common share. Mandra iBase Limited is wholly owned by Beansprouts Ltd., a British Virgin Islands company. The shareholders of Beansprouts Ltd. are Bing How Mui and Song Yi Zhang, each holding 50% of the issued and outstanding share capital of Beansprouts Ltd. Pursuant to Section 13(d) of the Securities Exchange Act of 1934, as amended, and the rules promulgated thereunder, each of Bing How Mui and Song Yi Zhang may be deemed to beneficially own all of the shares of the Issuer held by Mandra iBase Limited.
As of December 31, 2020, 9,100 ADSs, representing 6,066 Class A common shares were directly held by Mandra Mirabilite Limited, a British Virgin Islands company, which is wholly owned by Woo Foong Hong Limited, another British Virgin Islands company. Woo Foong Hong Limited is controlled by Beansprouts Ltd., a British Virgin Islands company. The shareholders of Beansprouts Ltd. are Bing How Mui and Song Yi Zhang, each holding 50% of the issued and outstanding share capital of Beansprouts Ltd. Pursuant to Section 13(d) of the Securities Exchange Act of 1934, as amended, and the rules promulgated thereunder, each of Bing How Mui and Song Yi Zhang may be deemed to beneficially own all of the shares of the Issuer held by Mandra Mirabilite Limited.
As of December 31, 2020, 773,676 ADSs, representing 515,784 Class A common shares were directly held by iBase Ltd., a British Virgin Islands company, which is wholly owned by Song Yi Zhang. Pursuant to Section 13(d) of the Securities Exchange Act of 1934, as amended, and the rules promulgated thereunder, Song Yi Zhang may be deemed to beneficially own all of the shares of the Issuer held by iBase Ltd.
The percentage of class of securities beneficially owned by each Reporting Person is based on a total of 78,392,359 common shares (being the sum of 61,392,170 Class A common shares and 17,000,189 Class B common shares) of the Issuer outstanding as of December 31, 2020 as a single class. Class B common shares are convertible at any time by the holder thereof into Class A common shares on a one-for-one basis. Class A common shares are not convertible into Class B common shares under any circumstances.
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Item 5. | | Ownership of Five Percent or Less of a Class: |
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| | Not applicable |
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Item 6. | | Ownership of More than Five Percent on Behalf of Another Person: |
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| | Not applicable |
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Item 7. | | Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company or Controlling Person: |
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| | Not applicable |
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Item 8. | | Identification and Classification of Members of the Group: |
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| | Not applicable |
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Item 9. | | Notice of Dissolution of Group: |
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| | Not applicable |
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Item 10. | | Certifications: |
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| | Not applicable |
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