SC 13G/A 1 d525302dsc13ga.htm SC 13G/A SC 13G/A

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

SCHEDULE 13G

Under the Securities Exchange Act of 1934

(Amendment No. 1)*

 

 

BORQS Technologies, Inc.

(Name of Issuer)

Ordinary Shares

(Title of Class of Securities)

G1466B103

(CUSIP Number)

December 31, 2017

(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)

☒ 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).

 

 

 

13G

 

CUSIP NO. G1466B103  

 

  1)    

NAME OF REPORTING PERSON

 

Norwest Venture Partners X, LP

  2)    

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a)  ☐        (b)  ☐

 

  3)    

SEC USE ONLY

 

  4)    

CITIZENSHIP OR PLACE OF ORGANIZATION

 

Delaware

NUMBER OF

SHARES

BENEFICIALLY

OWNED BY

EACH

REPORTING

PERSON

WITH

    (5)    

SOLE VOTING POWER

 

3,342,126*

   (6)   

SHARED VOTING POWER

 

0

   (7)   

SOLE DISPOSITIVE POWER

 

3,342,126*

   (8)   

SHARED DISPOSITIVE POWER

 

0

  9)    

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

3,342,126*

10)    

CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES

 

11)    

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

 

10.85%

12)    

TYPE OF REPORTING PERSON

 

PN

 

* These shares include 102,258 ordinary shares held in an indemnity escrow account.

 

2

13G

 

CUSIP NO. G1466B103  

 

  1)    

NAME OF REPORTING PERSON

 

Genesis VC Partners X, LLC

  2)    

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a)  ☐        (b)  ☐

 

  3)    

SEC USE ONLY

 

  4)    

CITIZENSHIP OR PLACE OF ORGANIZATION

 

Delaware

NUMBER OF

SHARES

BENEFICIALLY

OWNED BY

EACH

REPORTING

PERSON

WITH

    (5)    

SOLE VOTING POWER

 

3,342,126*

   (6)   

SHARED VOTING POWER

 

0

   (7)   

SOLE DISPOSITIVE POWER

 

3,342,126*

   (8)   

SHARED DISPOSITIVE POWER

 

0

  9)    

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

3,342,126*

10)    

CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES

 

11)    

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

 

10.85%

12)    

TYPE OF REPORTING PERSON

 

PN

 

 

3

13G

 

CUSIP NO. G1466B103  

 

  1)    

NAME OF REPORTING PERSON

 

NVP Associates, LLC

  2)    

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a)  ☐        (b)  ☐

 

  3)    

SEC USE ONLY

 

  4)    

CITIZENSHIP OR PLACE OF ORGANIZATION

 

Delaware

NUMBER OF

SHARES

BENEFICIALLY

OWNED BY

EACH

REPORTING

PERSON

WITH

    (5)    

SOLE VOTING POWER

 

3,342,126*

   (6)   

SHARED VOTING POWER

 

0

   (7)   

SOLE DISPOSITIVE POWER

 

3,342,126*

   (8)   

SHARED DISPOSITIVE POWER

 

0

  9)    

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

3,342,126*

10)    

CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES

 

11)    

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

 

10.85%

12)    

TYPE OF REPORTING PERSON

 

PN

 

 

4

13G

 

CUSIP NO. G1466B103  

 

  1)    

NAME OF REPORTING PERSON

 

Promod Haque

  2)    

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a)  ☐        (b)  ☐

 

  3)    

SEC USE ONLY

 

  4)    

CITIZENSHIP OR PLACE OF ORGANIZATION

 

United States of America

NUMBER OF

SHARES

BENEFICIALLY

OWNED BY

EACH

REPORTING

PERSON

WITH

    (5)    

SOLE VOTING POWER

 

3,342,126*

   (6)   

SHARED VOTING POWER

 

0

   (7)   

SOLE DISPOSITIVE POWER

 

3,342,126*

   (8)   

SHARED DISPOSITIVE POWER

 

0

  9)    

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

3,342,126*

10)    

CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES

 

11)    

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

 

10.85%

12)    

TYPE OF REPORTING PERSON

 

IN

 

 

5

13G

 

CUSIP NO. G1466B103  

 

  1)    

NAME OF REPORTING PERSON

 

Jeffrey Crowe

  2)  

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a)  ☐        (b)  ☐

 

  3)  

SEC USE ONLY

 

  4)  

CITIZENSHIP OR PLACE OF ORGANIZATION

 

United States of America

NUMBER OF

SHARES

BENEFICIALLY

OWNED BY

EACH

REPORTING

PERSON

WITH

    (5)    

SOLE VOTING POWER

 

3,342,126*

   (6)   

SHARED VOTING POWER

 

0

   (7)   

SOLE DISPOSITIVE POWER

 

3,342,126*

   (8)   

SHARED DISPOSITIVE POWER

 

0

  9)    

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

3,342,126*

10)  

CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES

 

11)  

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

 

10.85%

12)  

TYPE OF REPORTING PERSON

 

IN

 

 

6

13G

 

CUSIP NO. G1466B103  

 

  1)    

NAME OF REPORTING PERSON

 

Matthew D. Howard

  2)  

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a)  ☐        (b)  ☐

 

  3)  

SEC USE ONLY

 

  4)  

CITIZENSHIP OR PLACE OF ORGANIZATION

 

United States of America

NUMBER OF

SHARES

BENEFICIALLY

OWNED BY

EACH

REPORTING

PERSON

WITH

    (5)    

SOLE VOTING POWER

 

3,342,126*

   (6)   

SHARED VOTING POWER

 

0

   (7)   

SOLE DISPOSITIVE POWER

 

3,342,126*

   (8)   

SHARED DISPOSITIVE POWER

 

0

  9)    

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

3,342,126*

10)  

CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES

 

11)  

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

 

10.85%

12)  

TYPE OF REPORTING PERSON

 

IN

 

 

7

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE 13G

Under the Securities Exchange Act of 1934

 

Item 1(a)

  

Name of Issuer:

 

BORQS Technologies, Inc.

Item 1(b)

  

Address of Issuer’s Principal Executive Offices:

  Tower A, Building B23, Universal
 

Business Park, No. 10

 

Jiuxiangqiao Road, Chaoyang District,

 

Beijing, 100015 China

Item 2(a)

  

Name of Person Filing:

 

1.      Norwest Venture Partners X, LP

 

2.      Genesis VC Partners X, LLC

 

3.      NVP Associates, LLC

 

4.      Promod Haque

 

5.      Jeffrey Crowe

 

6.      Matthew D. Howard

Item 2(b)

  

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

 

1.      Norwest Venture Partners X, LP

         525 University Ave, Suite 800

         Palo Alto, CA 94301

 

2.      Genesis VC Partners X, LLC

         525 University Ave, Suite 800

         Palo Alto, CA 94301

 

3.      NVP Associates, LLC

         525 University Ave, Suite 800

         Palo Alto, CA 94301

 

4.      Promod Haque

         525 University Ave, Suite 800

         Palo Alto, CA 94301

 

5.      Jeffrey Crowe

         525 University Ave, Suite 800

         Palo Alto, CA 94301

 

6.      Matthew D. Howard

         525 University Ave, Suite 800

         Palo Alto, CA 94301

This statement is filed by Norwest Venture Partners X, LP on behalf of all of the persons listed above pursuant to Rule 13d-1(d) and Rule 13d-1(k). Norwest Venture Partners X, LP is a Delaware limited partnership, whose general partner is Genesis VC Partners X, LLC. NVP Associates, LLC is the managing member of Genesis VC Partners X, LLC. Promod Haque, Jeffrey Crowe and Matthew D. Howard are co-Chief Executive Officers of NVP Associates, LLC.

 

8

Item 2(c)

    Citizenship:
  

1.      Norwest Venture Partners X, LP: Delaware

  

2.      Genesis VC Partners X, LLC: Delaware

  

3.      NVP Associates, LLC: Delaware

  

4.      Promod Haque: United States of America

  

5.      Jeffrey Crowe: United States of America

  

6.      Matthew D. Howard: United States of America

Item 2(d)    Title of Class of Securities:
   Ordinary Shares
Item 2(e)    CUSIP Number:
   G1466B103
Item 3    Not Applicable
Item 4    Ownership:

(1) Norwest Venture Partners X, LP (“NVP X”): At December 31, 2017, NVP X owned of record 3,342,126 shares of Issuer’s ordinary shares (“Ordinary Shares”). This amount represents 10.85% of the total shares of Ordinary Shares outstanding at this date.

(2) Genesis VC Partners X, LLC (“Genesis X”): At December 31, 2017, Genesis X may be deemed to have beneficially owned, by virtue of its status as general partner of NVP X, 3,342,126 shares of Ordinary Shares. This amount represents 10.85% of the total shares of Ordinary Shares outstanding at this date.

(3) NVP Associates, LLC (“NVP Associates”): At December 31, 2017, NVP Associates may be deemed to have beneficially owned 3,342,126 shares of Ordinary Shares by virtue of its status as managing member of Genesis X, the general partner of NVP X, the record owner of such shares. This amount represents 10.85% of the total shares of Ordinary Shares outstanding at this date.

(4) Promod Haque: At December 31, 2017, Promod Haque may be deemed to have beneficially owned 3,342,126 shares of Ordinary Shares by virtue of his status as co-Chief Executive Officer of NVP Associates,the managing member of Genesis X, the general partner of NVP X, the record owner of such shares. This amount represents 10.85% of the total shares of Ordinary Sharesoutstanding at this date.

(5) Jeffrey Crowe: At December 31, 2017, Jeffrey Crowe may be deemed to have beneficially owned 3,342,126 shares of Ordinary Shares by virtue of his status as co-Chief Executive Officer of NVP Associates, the managing member of Genesis X, the general partner of NVP X, the record owner of such shares. This amount represents 10.85% of the total shares of Ordinary Sharesoutstanding at this date.

(6) Matthew D. Howard: At December 31, 2017, Matthew D. Howard may be deemed to have beneficially owned 3,342,126 shares of Ordinary Shares by virtue of his status as co-Chief Executive Officer of NVP Associates, the managing member of Genesis X, the general partner of NVP X, the record owner of such shares. This amount represents 10.85% of the total shares of Ordinary Sharesoutstanding at this date.

 

9

Item 5    Ownership of Five Percent or Less of a Class:
   If this statement is being filed to report the fact that as of the date hereof the reporting persons have ceased to be beneficial owners of more than five percent of the class of securities, check the following [ ].
Item 6    Ownership of More than Five 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 Group:
   Not Applicable
Item 10    Certification:
   Not applicable

 

10

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: January 17, 2018

NORWEST VENTURE PARTNERS X, LP

By Genesis VC Partners X, LLC, as general partner

By NVP Associates, LLC, as managing member

 

By:  

/s/ Matthew De Dominicis

  Matthew De Dominicis, Chief Financial Officer

 

11

AGREEMENT

The undersigned hereby agree that this Schedule 13G to which this Agreement is attached shall be filed by Norwest Venture Partners X, LP on its own behalf and on behalf of (a) Genesis VC Partners X, LLC, a Delaware limited liability company, (b) NVP Associates, LLC, a Delaware limited liability company, (c) Promod Haque, (d) Jeffrey Crowe and (e) Matthew D. Howard.

Dated: January 17, 2018

Norwest Venture Partners X, LP

 

By Genesis VC Partners X, LLC, as general partner
By NVP Associates, LLC, as managing member
By:  

/s/ Matthew De Dominicis

  Matthew De Dominicis, Chief Financial Officer
Genesis VC Partners X, LLC
By NVP Associates, LLC, as managing member
By:  

/s/ Matthew De Dominicis

  Matthew De Dominicis, Chief Financial Officer
NVP Associates, LLC
By:  

/s/ Matthew De Dominicis

  Matthew De Dominicis, Chief Financial Officer

/s/ Matthew De Dominicis

Matthew De Dominicis, as Attorney-in-fact

for Promod Haque

/s/ Matthew De Dominicis

Matthew De Dominicis, as Attorney-in-fact

for Jeffrey Crowe

/s/ Matthew De Dominicis

Matthew De Dominicis, as Attorney-in-fact

for Matthew D. Howard

 

12