SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

 

 

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

 

 

Sunrun, Inc.

(Name of Issuer)

Common Stock

(Title of Class of Securities)

86771W105

(CUSIP Number)

December 31, 2015

(Date of Event Which Requires Filing of This Statement)

 

 

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

¨ Rule 13d-1(b)

¨ Rule 13d-1(c)

x Rule 13d-1(d)

 

* The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.

The information required in 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).

 

 

 


CUSIP No. 86771W105    13G    Page 2 of 8 Pages

 

  1.     

Names of Reporting Persons

 

Foundation Capital VI, L.P.

  2.  

Check the Appropriate Box if a Member of a Group (see instructions)

(a)  ¨        (b)  x (1)

 

  3.  

SEC USE ONLY

 

  4.  

Citizenship or Place of Organization

 

Delaware, United States of America

Number of

Shares

Beneficially

Owned by

Each

Reporting

Person

With:

   5.      

Sole Voting Power

 

0 shares

   6.   

Shared Voting Power

 

16,247,374 shares of Common Stock (2)

   7.   

Sole Dispositive Power

 

0 shares

   8.   

Shared Dispositive Power

 

16,247,374 shares of Common Stock (2)

  9.    

Aggregate Amount Beneficially Owned by Each Reporting Person

 

16,247,374 shares of Common Stock (2)

10.  

Check if the Aggregate Amount in Row (9) Excludes Certain Shares (see instructions)

 

¨

11.  

Percent of Class Represented by Amount in Row 9

 

16.1% (3)

12.  

Type of Reporting Person (see instructions)

 

PN

 

(1) This Schedule 13G is filed by Foundation Capital VI, L.P. (“FC6”), Foundation Capital VI Principals Fund, L.L.C. (“FC6P”) and Foundation Capital Management Co. VI, L.L.C. (“FCM6,” together with FC6 and FC6P, collectively, the “Reporting Persons”). The Reporting Persons expressly disclaim status as a “group” for purposes of this Schedule 13G.
(2) Includes (i) 16,041,468 common shares held by FC6, (ii) 26,373 common shares issuable upon the exercise of warrants held by FC6, (iii) 179,238 common shares held by FC6P, and (iv) 295 common shares issuable upon the exercise of warrants held by FC6P. FCM6 serves as the sole general partner of FC6 and serves as the manager of FC6P. As such, FCM6 possesses voting and dispositive power over the shares held by FC6 and FC6P and may be deemed to have indirect beneficial ownership of the shares held by FC6 and FC6P. FCM6 owns no securities of the Issuer directly. The information with respect to the ownership of the Common Stock by the Reporting Persons filing this statement on Schedule 13G is provided as of December 31, 2015.
(3) This percentage is calculated based upon the sum of (i) 101,081,981 shares of the Common Stock outstanding (as of November 10, 2015), as set forth in the Issuer’s most recent Form 10-Q filed with the Securities and Exchange Commission on November 13, 2015, (ii) 26,373 common shares issuable upon the exercise of warrants held by FC6, and (iii) 295 common shares issuable upon the exercise of warrants held by FC6P.

 

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CUSIP No. 86771W105    13G    Page 3 of 8 Pages

 

  1.     

Names of Reporting Persons

 

Foundation Capital VI Principals Fund, L.L.C.

  2.  

Check the Appropriate Box if a Member of a Group (see instructions)

(a)  ¨        (b)  x (1)

 

  3.  

SEC USE ONLY

 

  4.  

Citizenship or Place of Organization

 

Delaware, United States of America

Number of

Shares

Beneficially

Owned by

Each

Reporting

Person

With:

   5.      

Sole Voting Power

 

0 shares

   6.   

Shared Voting Power

 

16,247,374 shares of Common Stock (2)

   7.   

Sole Dispositive Power

 

0 shares

   8.   

Shared Dispositive Power

 

16,247,374 shares of Common Stock (2)

  9.    

Aggregate Amount Beneficially Owned by Each Reporting Person

 

16,247,374 shares of Common Stock (2)

10.  

Check if the Aggregate Amount in Row (9) Excludes Certain Shares (see instructions)

 

¨

11.  

Percent of Class Represented by Amount in Row 9

 

16.1% (3)

12.  

Type of Reporting Person (see instructions)

 

OO

 

(1) This Schedule 13G is filed by the Reporting Persons. The Reporting Persons expressly disclaim status as a “group” for purposes of this Schedule 13G.
(2) Includes (i) 16,041,468 common shares held by FC6, (ii) 26,373 common shares issuable upon the exercise of warrants held by FC6, (iii) 179,238 common shares held by FC6P, and (iv) 295 common shares issuable upon the exercise of warrants held by FC6P. FCM6 serves as the sole general partner of FC6 and serves as the manager of FC6P. As such, FCM6 possesses voting and dispositive power over the shares held by FC6 and FC6P and may be deemed to have indirect beneficial ownership of the shares held by FC6 and FC6P. FCM6 owns no securities of the Issuer directly. The information with respect to the ownership of the Common Stock by the Reporting Persons filing this statement on Schedule 13G is provided as of December 31, 2015.
(3) This percentage is calculated based upon the sum of (i) 101,081,981 shares of the Common Stock outstanding (as of November 10, 2015), as set forth in the Issuer’s most recent Form 10-Q filed with the Securities and Exchange Commission on November 13, 2015, (ii) 26,373 common shares issuable upon the exercise of warrants held by FC6, and (iii) 295 common shares issuable upon the exercise of warrants held by FC6P.

 

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CUSIP No. 86771W105    13G    Page 4 of 8 Pages

 

  1.     

Names of Reporting Persons

 

Foundation Capital Management Co. VI, L.L.C.

  2.  

Check the Appropriate Box if a Member of a Group (see instructions)

(a)  ¨        (b)  x (1)

 

  3.  

SEC USE ONLY

 

  4.  

Citizenship or Place of Organization

 

Delaware, United States of America

Number of

Shares

Beneficially

Owned by

Each

Reporting

Person

With:

   5.      

Sole Voting Power

 

0 shares

   6.   

Shared Voting Power

 

16,247,374 shares of Common Stock (2)

   7.   

Sole Dispositive Power

 

0 shares

   8.   

Shared Dispositive Power

 

16,247,374 shares of Common Stock (2)

  9.    

Aggregate Amount Beneficially Owned by Each Reporting Person

 

16,247,374 shares of Common Stock (2)

10.  

Check if the Aggregate Amount in Row (9) Excludes Certain Shares (see instructions)

 

¨

11.  

Percent of Class Represented by Amount in Row 9

 

16.1% (3)

12.  

Type of Reporting Person (see instructions)

 

OO

 

(1) This Schedule 13G is filed by the Reporting Persons. The Reporting Persons expressly disclaim status as a “group” for purposes of this Schedule 13G.
(2) Includes (i) 16,041,468 common shares held by FC6, (ii) 26,373 common shares issuable upon the exercise of warrants held by FC6, (iii) 179,238 common shares held by FC6P, and (iv) 295 common shares issuable upon the exercise of warrants held by FC6P. FCM6 serves as the sole general partner of FC6 and serves as the manager of FC6P. As such, FCM6 possesses voting and dispositive power over the shares held by FC6 and FC6P and may be deemed to have indirect beneficial ownership of the shares held by FC6 and FC6P. FCM6 owns no securities of the Issuer directly. The information with respect to the ownership of the Common Stock by the Reporting Persons filing this statement on Schedule 13G is provided as of December 31, 2015.
(3) This percentage is calculated based upon the sum of (i) 101,081,981 shares of the Common Stock outstanding (as of November 10, 2015), as set forth in the Issuer’s most recent Form 10-Q filed with the Securities and Exchange Commission on November 13, 2015, (ii) 26,373 common shares issuable upon the exercise of warrants held by FC6, and (iii) 295 common shares issuable upon the exercise of warrants held by FC6P.

 

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Item 1(a).   

Name of Issuer:

 

Sunrun, Inc.

Item 1(b).   

Address of Issuer’s Principal Executive Offices:

 

595 Market Street, 29th Floor

San Francisco, CA 94105

Item 2(a).   

Name of Person Filing:

 

Foundation Capital VI, L.P. (“FC6”)

Foundation Capital VI Principals Fund, L.L.C. (“FC6P”)

Foundation Capital Management Co. VI, L.L.C. (“FCM6”)

Item 2(b).   

Address of Principal Business Office or, if none, Residence:

 

c/o Foundation Capital

250 Middlefield Road

Menlo Park, California 94025

Item 2(c).   

Citizenship:

 

FC6     – Delaware, United States of America

FC6P   – Delaware, United States of America

FCM6  – Delaware, United States of America

Item 2(d).    Title of Class of Securities:     Common Stock
Item 2(e).    CUSIP Number:     86771W105
Item 3.    Not applicable.

Item 4. Ownership. The following information with respect to the ownership of the Common Stock by the Reporting Persons filing this statement on Schedule 13G is provided as of December 31, 2015:

 

Reporting Persons    Shares Held
Directly (1)
     Shares
Issuable
Upon
Exercise of
Warrants
Held
Directly (1)
     Sole Voting
Power
     Shared
Voting
Power (1)
     Sole
Dispositive
Power
     Shared
Dispositive
Power (1)
     Beneficial
Ownership (1)
     Percentage
of Class
(1, 3)
 

FC6

     16,041,468         26,373         0         16,247,374         0         16,247,374         16,247,374         16.1

FC6P

     179,238         295         0         16,247,374         0         16,247,374         16,247,374         16.1

FC6M (2)

     0            0         16,247,374         0         16,247,374         16,247,374         16.1

 

(1) Represents the number of shares of Common Stock currently underlying all Securities held by the Reporting Person.
(2) FCM6 serves as the sole general partner of FC6 and serves as the manager of FC6P. As such, FCM6 possesses voting and dispositive power over the shares held by FC6 and FC6P and may be deemed to have indirect beneficial ownership of the shares held by FC6 and FC6P. FCM6 owns no securities of the Issuer directly.
(3) This percentage is calculated based upon the sum of (i) 101,081,981 shares of the Common Stock outstanding per the Company, (ii) 26,373 common shares issuable upon the exercise of warrants held by FC6, and (iii) 295 common shares issuable upon the exercise of warrants held by FC6P.

 

Item 5. Ownership of 5 Percent or Less of a Class

If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than 5 percent of the class of securities, check the following  ¨

 

5


Item 6. Ownership of More than 5 Percent on Behalf of Another Person

Not applicable.

 

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 a Group

Not applicable.

 

Item 10. Certification

Not applicable.

 

6


SIGNATURES

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.

Dated: February 5, 2016

 

FOUNDATION CAPITAL MANAGEMENT CO. VI, L.L.C.
By:  

/s/ Paul R. Holland

  Manager
FOUNDATION CAPITAL VI, L.P.
By:   Foundation Capital Management Co.VI, L.L.C.
  its General Partner
By:  

/s/ Paul R. Holland

  Manager
FOUNDATION CAPITAL VI PRINCIPALS FUND, L.L.C.
By:   Foundation Capital Management Co. VI, L.L.C.
  its Manager
By:  

/s/ Paul R. Holland

  Manager

Attention:  Intentional misstatements or omissions of fact constitute Federal criminal violations (See 18 U.S.C. 1001)

 

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AGREEMENT

Pursuant to Rule 13d-1(k)(1) under the Securities Exchange Act of 1934, as amended, the undersigned hereby agree that only one statement containing the information required by Schedule 13G need be filed with respect to the ownership by each of the undersigned of the shares of Common Stock of Sunrun, Inc.

Dated: February 5, 2016

 

FOUNDATION CAPITAL MANAGEMENT CO. VI, L.L.C.
By:  

/s/ Paul R. Holland

  Manager
FOUNDATION CAPITAL VI, L.P.
By:   Foundation Capital Management Co.VI, L.L.C.
  its General Partner
By:  

/s/ Paul R. Holland

  Manager
FOUNDATION CAPITAL VI PRINCIPALS FUND, L.L.C.
By:   Foundation Capital Management Co. VI, L.L.C.
  its Manager
By:  

/s/ Paul R. Holland

  Manager

 

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