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Ownership Report - March 13, 2024
Khosla Ventures restructures RKLB holdings via internal distributions; 16.3% stake unchanged.
Brief
This SC 13D/A (Amendment No. 3) filed March 13, 2024, by Khosla Ventures entities and Vinod Khosla discloses pro rata share distributions on March 11, 2024, among affiliates. Total beneficial ownership remains 79,853,630 shares (16.3% of 489M outstanding). No sales to third parties or changes in investment intent, relevant for tracking major shareholder activity.
Detailed Brief
Khosla Ventures entities, led by Vinod Khosla, originally invested in Legacy Rocket Lab's preferred stock from 2013-2020 ($28.2M), converted to RKLB common stock post-2021 SPAC merger. This amendment details March 11, 2024, distributions: KV Seed B distributed 10,752,561 shares (5.25M to KVA Seed B); KV Seed B (CF) distributed 610,362 shares (209k to KVA Seed B). KVA Seed B then distributed to members, with 3,982,565 to VK Services, now directly holding 16,463,434 shares; KVA Seed B holds none. Total group beneficial ownership steady at 79,853,630 shares (16.3%). Purpose remains investment; registration rights allow future shelf sales. No plans for business changes.
Key Telemetry
- • Beneficial ownership: 79,853,630 shares (16.3%) unchanged.
- • March 11 distributions: 11.36M shares pro rata from two funds to partners.
- • VK Services direct holdings rise to 16.5M shares; KVA Seed B to 0.
- • No activist plans; reserves right to discuss strategy with management.
- • Registration rights for $50M+ underwritten offerings.
Impact Vector
Signals ongoing commitment from early major investor amid RKLB's growth phase; internal restructuring has neutral near-term price impact. Strategic alignment with long-term holder likely positive. Monitor future 13D/A for sales via registration rights or engagement shifts.