industry conditions, the Reporting Persons may take actions with respect to their investment in the Issuer. These actions include changing their current investment purpose and/or, from time
to time, (i) acquiring or causing affiliates to acquire additional shares of Common Stock in open market transactions, in privately negotiated transactions or through other methods; (ii) disposing or causing affiliates to dispose of some
or all of the shares of Common Stock in open market transactions, in privately negotiated transactions or through other methods; or (iii) continuing to hold or causing affiliates to hold the shares of Common Stock (or any derivative
thereof). In addition, the Reporting Persons may engage, either directly or indirectly through Dr. Khanna, in discussions with the Issuers management, members of its board of directors, stockholders and other relevant parties or take
other actions concerning the Issuers operations, capital expenditures, financings, executive compensation practices, capital structure, and the composition of the Issuers Board of Directors.
Except as indicated herein, no Reporting Person, as a stockholder of the Issuer, has any plans or proposals that relates to or would result in
any of the transactions or other matters specified in clauses (a) though (j) of Item 4 of Schedule 13D. Each Reporting Person may, at any time and from time to time, review or reconsider its or his position and/or change its or his purpose
and/or formulate plans or proposals with respect thereto.
The information in Item 6 of this Schedule 13D is incorporated by reference into
this Item 4.
Item 5. Interest in Securities of the Issuer
Item 5 of the Schedule 13D is amended and restated as follows:
|
(a)
|
The information set forth in rows 11 and 13 of the cover pages to this Schedule 13D is incorporated by
reference. The percentage set forth in row 13 is based on 36,338,130 outstanding shares of Common Stock, as reported by the Issuer in its Form 10-Q filed with the Securities and Exchange Commission on
May 13, 2021.
|
In addition, Mr. Kam Chung Leung directly owns 173,698 shares of Common Stock.
|
(b)
|
The information set forth in rows 7 through 10 of the cover pages to this Schedule 13D is incorporated by
reference.
|
|
(c)
|
Except as set forth in Item 3 above, none of the Reporting Persons has effected any transaction in the Common
Stock during the last 60 days.
|
|
(d)
|
No person (other than the Reporting Persons) 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, the shares of Common Stock subject to this Schedule 13D.
|
Item 6. Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer
Item 6 of the Schedule 13D is amended and restated as follows:
Lock-up Agreement
Pursuant to lock-up agreements (each, a Lock-Up
Agreement) signed in connection with the Issuers initial public offering, Pivotal, certain other stockholders of the Issuer and each director and officer of the Issuer agreed with the representatives of the underwriters in the
initial public offering (the Representatives), subject to certain exceptions, not to offer, pledge, sell, contract to sell, sell any option or contract to purchase, purchase any option or contract to sell, grant any option, right
or warrant to sale of or otherwise dispose of or transfer any shares of Common Stock or any securities convertible into or exercisable or exchangeable for shares of Common Stock, request or demand that the Issuer file a registration statement
related to the Common Stock, or enter into any swap or other agreement that transfers to another, in whole or in part, directly or indirectly, the economic consequence of ownership of the Common Stock, for a period ending on the date that is 180
days after the date of the prospectus in connection with the Issuers initial public offering, except with the prior written consent of the Representatives.
15