Form SC 13D/A - General Statement of Acquisition of Beneficial Ownership: [Amend]
July 31 2024 - 8:38AM
Edgar (US Regulatory)
UNITED
STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
|
SCHEDULE
13D
Under the Securities Exchange Act of 1934
|
(Amendment
No. 12)*
|
TCTM
Kids IT Education Inc. |
(Name
of Issuer)
|
Class A
Ordinary Shares, par value $0.001 per share |
(Title
of Class of Securities)
|
G8675B
105 |
| (CUSIP Number) |
| |
Shaoyun
Han
Lijuan Han
Ying Sun
c/o 6/F, No. 1 Andingmenwai Street,
Litchi Tower
Chaoyang District, Beijing 100011
People’s Republic of China
+86 (10) 6213-5687
|
|
| |
With
copies to: |
|
Haiping
Li, Esq.
Skadden, Arps, Slate, Meagher &
Flom LLP
42/F, Edinburgh Tower, The Landmark
15 Queen’s Road Central
Hong Kong
+852 3740-4700 |
|
Yilin
Xu, Esq.
Skadden, Arps, Slate, Meagher &
Flom LLP
30/F, China World Office 2
No. 1, Jianguomenwai Avenue
Beijing 100004, China
+86 (10) 6535-5500 |
(Name, Address and
Telephone Number of Person Authorized to
Receive Notices and Communications) |
July 29, 2024 |
| (Date of Event Which Requires Filing of this Statement) |
| |
If the filing person has previously filed a statement on Schedule 13G
to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§240.13d-1(e), 240.13d-1(f) or
240.13d-1(g), check the following box. x
Note:
Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See §240.13d-7
for other parties to whom copies are to be sent.
* This
statement on Schedule 13D (the “Schedule 13D”) constitutes Amendment No. 12 to the initial Schedule 13D (the “Original
Schedule 13D”) filed on July 24, 2015 on behalf of Mr. Shaoyun Han, Ms. Lijuan Han and Ms. Ying Sun (and collectively
with Mr. Shaoyun Han and Ms. Lijuan Han, the “Reporting Persons” ), as amended by Amendment No.1 to the Original
Schedule 13D filed on September 8, 2017, Amendment No. 2 to the Original Schedule 13D filed on October 13, 2017, Amendment
No. 3 to the Original Schedule 13D filed on December 10, 2018, Amendment No. 4 to the Original Schedule 13D filed on October 15,
2019, Amendment No. 5 to the Original Schedule 13D filed on December 11, 2020, Amendment No. 6 to the Original Schedule
13D filed on January 21, 2021, Amendment No. 7 to the Original Schedule 13D filed on May 3, 2021, Amendment No. 8
to the Original Schedule 13D filed on November 16, 2021, Amendment No. 9 to the Original Schedule 13D filed on May 8, 2023,
Amendment No. 10 to the Original Schedule 13D filed on November 9, 2023 and Amendment No. 11 to the Original Schedule 13D
filed on April 24, 2024 on behalf of the Reporting Persons (together with the Original Schedule 13D, the “Original Filings”),
with respect to the ordinary shares (the “Ordinary Shares”), comprising Class A ordinary shares, par value $0.001 per
share (“Class A Ordinary Shares”), and Class B ordinary shares, par value $0.001 per share (“Class B
Ordinary Shares”), of TCTM Kids IT Education Inc., a Cayman Islands company (the “Company”). Except as amended hereby,
the Original Filings remain in full force and effect. Capitalized terms used but not defined in this Amendment No. 12 to the Schedule
13D have the meanings ascribed to them in the Original Filings. The Ordinary Shares beneficially owned by the Reporting Persons were previously
reported on a Schedule 13G filed on February 10, 2015, as amended by amendments thereto.
The information required on the remainder of this
cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934
(“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of
the Act (however, see the Notes). |
| 1 |
NAMES OF REPORTING PERSONS
Shaoyun Han |
| 2 |
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a)
x
(b)
¨ |
| 3 |
SEC
USE ONLY |
| 4 |
SOURCE OF FUNDS (See Instructions)
OO |
| 5 |
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) ¨ |
| 6 |
CITIZENSHIP OR PLACE OF ORGANIZATION
The People’s Republic of China |
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY EACH
REPORTING
PERSON
WITH |
7 |
SOLE VOTING POWER
683,285(1) Ordinary Shares |
| 8 |
SHARED VOTING POWER
9,550,724(2) Ordinary Shares |
| 9 |
SOLE DISPOSITIVE POWER
683,285(1) Ordinary Shares |
| 10 |
SHARED DISPOSITIVE POWER
0 |
| 11 |
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
10,234,009 Ordinary Shares |
| 12 |
CHECK
IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (See Instructions) |
| 13 |
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
20.7% of the Class A Ordinary Shares(3) (or
20.7% of the total Ordinary Shares(4) assuming conversion of all outstanding Class B Ordinary Shares into Class A
Ordinary Shares, representing 65.6% of the total outstanding voting power). |
| 14 |
TYPE OF REPORTING PERSON (See Instructions)
IN |
| (1) | Composed of (i) 268,285 Class A Ordinary Shares held by Mr. Shaoyun Han and (ii) 83,000 ADSs representing 415,000
Class A Ordinary Shares that Mr. Shaoyun Han may purchase upon exercise of options within 60 days of July 31, 2024. Mr. Shaoyun
Han is the record owner of these options. |
| (2) | Composed of (i) 7,206,059 Class B Ordinary Shares held by Learningon
Limited (“Learningon”), (ii) 438,644 restricted ADSs representing 2,193,220 Class A Ordinary Shares held by Learningon
and (iii) 30,289 ADSs representing 151,445 Class A Ordinary Shares held by Ms. Lijuan Han. Learningon is ultimately
owned by Ms. Lijuan Han, sister of Mr. Shaoyun Han. By virtue of such relationship, Ms. Lijuan Han and Mr. Shaoyun
Han undertake to act in concert in accordance with the instructions of Mr. Shaoyun Han with regard to any matter submitted to vote
by Ms. Lijuan Han. Therefore, Mr. Shaoyun Han may be deemed to share the voting power with respect to these shares. |
The rights of the holders of Class A Ordinary Shares
and Class B Ordinary Shares are identical, except with respect to conversion rights (noted above) and voting rights. Each Class B
Ordinary Share is entitled to ten votes per share, whereas each Class A Ordinary Share is entitled to one vote per share.
| (3) | Based on 41,937,704 Class A Ordinary Shares outstanding as of February 29, 2024 as reported on the Company’s 20-F,
assuming all Class B Ordinary Shares held by such reporting person are converted into Class A Ordinary Shares and all share
options held by such reporting person that are exercisable within 60 days of July 31, 2024 are exercised. |
| (4) | Based on 49,143,763 outstanding Ordinary Shares, being the sum of 41,937,704 Class A Ordinary Shares and 7,206,059 Class B
Ordinary Shares outstanding as of February 29, 2024 as reported on the Company’s 20-F, assuming conversion of all Class B
Ordinary Shares into Class A Ordinary Shares and all share options held by such reporting person that are exercisable within 60 days
of July 31, 2024 are exercised. |
| CUSIP
No. G8675B 105 |
13D |
Page 3
of 6 |
| 1 |
NAMES OF REPORTING PERSONS
Lijuan Han |
| 2 |
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) x
(b)
¨ |
| 3 |
SEC
USE ONLY |
| 4 |
SOURCE OF FUNDS (See Instructions)
OO |
| 5 |
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) o |
| 6 |
CITIZENSHIP OR PLACE OF ORGANIZATION
The People’s Republic of China |
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY EACH
REPORTING
PERSON
WITH |
7 |
SOLE VOTING POWER
0 Ordinary Shares |
| 8 |
SHARED VOTING POWER
9,550,724(5) Ordinary Shares |
| 9 |
SOLE DISPOSITIVE POWER
9,550,724(5) Ordinary Shares |
| 10 |
SHARED DISPOSITIVE POWER
0 |
| 11 |
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9,550,724 Ordinary Shares |
| 12 |
CHECK
IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (See Instructions) |
| 13 |
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
19.4% of the Class A Ordinary Shares(6) (or
19.4% of the total Ordinary Shares(7) assuming conversion of all outstanding Class B Ordinary Shares into Class A
Ordinary Shares, representing 65.3% of the total outstanding voting power). |
| 14 |
TYPE OF REPORTING PERSON (See Instructions)
IN |
| (5) | Composed of (i) 7,206,059 Class B Ordinary Shares held by Learningon,
(ii) 438,644 restricted ADSs representing 2,193,220 Class A Ordinary Shares held by Learningon and (iii) 30,289
ADSs representing 151,445 Class A Ordinary Shares held by Ms. Lijuan Han. Learningon is ultimately owned by Ms. Lijuan
Han, sister of Mr. Shaoyun Han. By virtue of such relationship, Ms. Lijuan Han and Mr. Shaoyun Han undertake to act in
concert in accordance with the instructions of Mr. Shaoyun Han with regard to any matter submitted to vote by Ms. Lijuan Han.
Therefore, Ms. Lijuan Han may be deemed to share the voting power with respect to these shares. |
The rights of the holders of Class A Ordinary Shares
and Class B Ordinary Shares are identical, except with respect to conversion rights (noted above) and voting rights. Each Class B
Ordinary Share is entitled to ten votes per share, whereas each Class A Ordinary Share is entitled to one vote per share.
| (6) | Based on 41,937,704 Class A Ordinary Shares outstanding as of February 29, 2024 as reported on the Company’s 20-F,
assuming all Class B Ordinary Shares held by such reporting person are converted into Class A Ordinary Shares. |
| (7) | Based on 49,143,763 outstanding Ordinary Shares, being the sum of 41,937,704 Class A Ordinary Shares and 7,206,059 Class B
Ordinary Shares outstanding as of February 29, 2024 as reported on the Company’s 20-F, assuming conversion of all Class B
Ordinary Shares into Class A Ordinary Shares. |
| CUSIP
No. G8675B 105 |
13D |
Page 4
of 6 |
| 1 |
NAMES OF REPORTING PERSONS
Ying Sun |
| 2 |
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) ¨
(b)
¨ |
| 3 |
SEC
USE ONLY |
| 4 |
SOURCE OF FUNDS (See Instructions)
OO |
| 5 |
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) o |
| 6 |
CITIZENSHIP OR PLACE OF ORGANIZATION
The People’s Republic of China |
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY EACH
REPORTING
PERSON
WITH |
7 |
SOLE VOTING POWER
8,398,224(8) Ordinary Shares |
| 8 |
SHARED VOTING POWER
0 |
| 9 |
SOLE DISPOSITIVE POWER
8,398,224(8) Ordinary Shares |
| 10 |
SHARED DISPOSITIVE POWER
0 |
| 11 |
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
8,398,224(8) Ordinary Shares |
| 12 |
CHECK
IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (See Instructions) |
| 13 |
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
19.8% of the Class A Ordinary Shares(9) (or
16.9% of the total Ordinary Shares(10) assuming conversion of all outstanding Class B Ordinary Shares into Class A
Ordinary Shares, representing 7.3% of the total outstanding voting power). |
| 14 |
TYPE OF REPORTING PERSON (See Instructions)
IN |
| (8) | Composed of (i) 718,887 ADSs representing 3,594,435 Class A Ordinary
Shares held by Connion Capital Limited (“Connion”), (ii) 3,152,183 Class A Ordinary Shares held by Connion, (iii) 1,066,236
Class A Ordinary Shares and 28,174 ADSs representing 140,870 Class A Ordinary Shares held by Ms. Ying Sun and (iv) 88,900
ADSs representing 444,500 Class A Ordinary Shares that Ms. Ying Sun may purchase upon exercise of options within 60 days of
July 31, 2024. Ms. Ying Sun is the ultimate owner of Connion and Moocon. |
| (9) | Based on 41,937,704 Class A Ordinary Shares outstanding as of February 29, 2024 as reported on the Company’s 20-F,
assuming all share options held by such reporting person that are exercisable within 60 days of July 31, 2024 are exercised. |
| (10) | Based on 49,143,763 outstanding Ordinary Shares, being the sum of 41,937,704 Class A Ordinary Shares and 7,206,059 Class B
Ordinary Shares outstanding as of February 29, 2024 as reported on the Company’s 20-F, assuming conversion of all Class B
Ordinary Shares into Class A Ordinary Shares and all share options held by such reporting person that are exercisable within 60 days
of July 31, 2024 are exercised. |
| CUSIP
No. G8675B 105 |
13D |
Page 5
of 6 |
Item 5. Interest in Securities of the Issuer.
Item 5(a)–(d) of the Schedule 13D is
hereby amended and restated as follows:
(a)–(b) The
responses of each Reporting Person to Rows (7) through (13), including the footnotes thereto, of the cover pages of this Schedule
13D are hereby incorporated by reference in this Item 5.
Except as disclosed in this Schedule 13D, none
of the Reporting Persons beneficially owns any Ordinary Shares or has the right to acquire any Ordinary Shares.
Except as disclosed in this Schedule 13D, none
of the Reporting Persons presently has the power to vote or to direct the vote or to dispose or direct the disposition of any of the Ordinary
Shares which it may be deemed to beneficially own.
(c) Except
as disclosed in this Schedule 13D, none of the Reporting Persons has effected any transaction in the Ordinary Shares during the past
60 days.
(d) Except
as disclosed in this Schedule 13D, to the best knowledge of the Reporting Persons, no other person has the right to receive or the power
to direct the receipt of dividends from, or the proceeds from the sale of, the Ordinary Shares beneficially owned by any of the Reporting
Persons.
(e) Not
Applicable.
Item 6. Contracts, Arrangements, Understandings or Relationships
With Respect to Securities of the Issuer.
Item 6 of the Schedule 13D is hereby amended and
supplemented by the following:
On July 29, 2024, Moocon Education Limited
(“Moocon”) and Connion entered into an Instrument of Transfer, pursuant to which Moocon agreed to transfer 2,000,000 Class A
Ordinary Shares to Connion in a consideration of USD 1.
The description of the above Instruments of Transfer
is qualified in its entirety by reference to the full text of each of such agreements, a copy of which is filed by the Reporting Person
as exhibits to this Schedule 13D.
To the best knowledge of the Reporting Persons,
except as provided herein and disclosed before, there are no other contracts, arrangements, understandings or relationships (legal or
otherwise) between the Reporting Persons and between any of the Reporting Persons and any other person with respect to any securities
of the Company, joint ventures, loan or option arrangements, puts or calls, guarantees of profits, divisions of profits or loss, or the
giving or withholding of proxies, or a pledge or contingency, the occurrence of which would give another person voting power over the
securities of the Company.
| CUSIP
No. G8675B 105 |
13D |
Page 6
of 6 |
SIGNATURE
After reasonable inquiry and to the best of my
knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
Date: July 31, 2024
| |
Shaoyun Han |
| |
|
| |
/s/ Shaoyun Han |
| |
Shaoyun Han |
| |
|
| |
Lijuan Han |
| |
|
| |
/s/ Lijuan Han |
| |
Lijuan Han |
| |
|
| |
Ying Sun |
| |
|
| |
/s/ Ying Sun |
| |
Ying Sun |
Exhibit 99.1
JOINT FILING AGREEMENT
In accordance with Rule 13d-1(k) under
the Securities Exchange Act of 1934, as amended, each of the undersigned hereby agrees to the joint filing on behalf of each of them of
a statement on Schedule 13D (including amendments thereto) with respect to the Ordinary Shares of TCTM Kids IT Education Inc., including
Class A Ordinary Shares and Class B Ordinary Shares, and that this Agreement be included as an Exhibit to such joint filing.
Each of the undersigned acknowledges that each shall be responsible for the timely filing of any statement (including amendments) on Schedule
13D, and for the completeness and accuracy of the information concerning him or it contained therein, but shall not be responsible for
the completeness and accuracy of the information concerning the other persons making such filings, except to the extent that he or it
knows or has reason to believe that such information is inaccurate.
IN WITNESS WHEREOF, the undersigned hereby execute
this Agreement as of July 31, 2024.
| |
Shaoyun Han |
| |
|
| |
/s/ Shaoyun Han |
| |
Shaoyun Han |
| |
|
| |
Lijuan Han |
| |
|
| |
/s/ Lijuan Han |
| |
Lijuan Han |
| |
|
| |
Ying Sun |
| |
|
| |
/s/ Ying Sun |
| |
Ying Sun |
Exhibit 99.2
TCTM
Kids IT Education Inc.
(the “Company”)
INSTRUMENT OF TRANSFER
| FOR VALUE RECEIVED |
| |
|
|
|
|
USD1.0 |
, |
(amount) |
| |
|
|
|
| We, |
Moocon Education
Limited |
of |
(transferor) |
| |
|
|
|
|
Trident Chambers,
P.O. Box 146, Road Town,
Tortola VG1110, British Virgin Islands |
|
(address) |
| |
|
|
| hereby sell, assign and transfer unto |
Connion Capital
Limited |
|
(transferee) |
| |
|
|
|
| of |
Trident Chambers,
P.O. Box 146,
Town, Tortola, British Virgin Islands |
|
(address) |
| |
|
|
|
|
2,000,000 |
Class A Ordinary Shares |
| |
|
|
|
| of |
TCTM Kids IT
Education Inc. |
(company name) |
Dated this 29 day of July, 2024
| Signed by the Transferor: |
|
| |
|
| /s/ Sun Ying |
|
| For and on behalf of Moocon Education Limited |
|
| Name: Sun Ying |
|
| Title: Director |
|
| Signed by the Transferee: |
|
| |
|
| /s/ Sun Ying |
|
| For and on behalf of Connion Capital Limited |
|
| Name: Sun Ying |
|
| Title: Director |
|
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