Sec Form 13D Filing - Carlyle Group Inc. (CG) filing for SOLENO THERAPEUTICS INC (SLNO) - 2023-08-18

Insider filing report for Changes in Beneficial Ownership

  • Schedule 13G & 13D forms are used to report a party's ownership of stock which exceeds 5% of a company's total stock issue.
  • Schedule 13G is a shorter version of Schedule 13D with fewer reporting requirements.
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SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 6)*

 

 

Soleno Therapeutics, Inc.

(Name of Issuer)

Common Stock, par value $0.001 per share

(Title of Class of Securities)

834203200

(CUSIP Number)

Jeffrey Ferguson

The Carlyle Group

1001 Pennsylvania Avenue, NW

Suite 220 South

Washington, D.C. 20004

(202) 729-5626

(Name, Address and Telephone Number of Person

Authorized to Receive Notices and Communications)

August 8, 2023

(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 Rule 13d-1(e), Rule 13d-1(f) or Rule 13d-1(g), check the following box.  ☐

 

 

Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See Rule 13d-7(b) for other parties to whom copies are to be sent.

 

 

 

*

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 disclosures provided in a prior cover page.

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).

 

 

 

 


CUSIP No. 834203200    13D    Page 1 of 14 pages

 

  1    

  Names of Reporting Persons

 

  The Carlyle Group Inc.

  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 if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

 

  ☐

  6  

  Citizenship or Place of Organization

 

  Delaware

NUMBER OF

SHARES

 BENEFICIALLY 

OWNED BY

EACH

REPORTING

PERSON

WITH

 

     7    

  Sole Voting Power

 

  0

     8  

  Shared Voting Power

 

  1,227,317

     9  

  Sole Dispositive Power

 

  0

   10  

  Shared Dispositive Power

 

  1,227,317

11    

  Aggregate Amount Beneficially Owned by Each Reporting Person

 

  1,227,317

12  

  Check if the Aggregate Amount in Row (11) Excludes Certain Shares

 

  ☐

13  

  Percent of Class Represented by Amount in Row (11)

 

  12.3%

14  

  Type of Reporting Person

 

  CO


CUSIP No. 834203200    13D    Page 2 of 14 pages

 

  1    

  Names of Reporting Persons

 

  Carlyle Holdings I GP Inc.

  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 if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

 

  ☐

  6  

  Citizenship or Place of Organization

 

  Delaware

NUMBER OF

SHARES

 BENEFICIALLY 

OWNED BY

EACH

REPORTING

PERSON

WITH

 

     7    

  Sole Voting Power

 

  0

     8  

  Shared Voting Power

 

  1,227,317

     9  

  Sole Dispositive Power

 

  0

   10  

  Shared Dispositive Power

 

  1,227,317

11    

  Aggregate Amount Beneficially Owned by Each Reporting Person

 

  1,227,317

12  

  Check if the Aggregate Amount in Row (11) Excludes Certain Shares

 

  ☐

13  

  Percent of Class Represented by Amount in Row (11)

 

  12.3%

14  

  Type of Reporting Person

 

  CO


CUSIP No. 834203200    13D    Page 3 of 14 pages

 

  1    

  Names of Reporting Persons

 

  Carlyle Holdings I GP Sub L.L.C.

  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 if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

 

  ☐

  6  

  Citizenship or Place of Organization

 

  Delaware

NUMBER OF

SHARES

 BENEFICIALLY 

OWNED BY

EACH

REPORTING

PERSON

WITH

 

     7    

  Sole Voting Power

 

  0

     8  

  Shared Voting Power

 

  1,227,317

     9  

  Sole Dispositive Power

 

  0

   10  

  Shared Dispositive Power

 

  1,227,317

11    

  Aggregate Amount Beneficially Owned by Each Reporting Person

 

  1,227,317

12  

  Check if the Aggregate Amount in Row (11) Excludes Certain Shares

 

  ☐

13  

  Percent of Class Represented by Amount in Row (11)

 

  12.3%

14  

  Type of Reporting Person

 

  OO (Limited Liability Company)


CUSIP No. 834203200    13D    Page 4 of 14 pages

 

  1    

  Names of Reporting Persons

 

  Carlyle Holdings I L.P.

  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 if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

 

  ☐

  6  

  Citizenship or Place of Organization

 

  Delaware

NUMBER OF

SHARES

 BENEFICIALLY 

OWNED BY

EACH

REPORTING

PERSON

WITH

 

     7    

  Sole Voting Power

 

  0

     8  

  Shared Voting Power

 

  1,227,317

     9  

  Sole Dispositive Power

 

  0

   10  

  Shared Dispositive Power

 

  1,227,317

11    

  Aggregate Amount Beneficially Owned by Each Reporting Person

 

  1,227,317

12  

  Check if the Aggregate Amount in Row (11) Excludes Certain Shares

 

  ☐

13  

  Percent of Class Represented by Amount in Row (11)

 

  12.3%

14  

  Type of Reporting Person

 

  PN


CUSIP No. 834203200    13D    Page 5 of 14 pages

 

  1    

  Names of Reporting Persons

 

  CG Subsidiary Holdings L.L.C.

 & #xA0;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 if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

 

  ☐

  6  

  Citizenship or Place of Organization

 

  Delaware

NUMBER OF

SHARES

 BENEFICIALLY 

OWNED BY

EACH

REPORTING

PERSON

WITH

 

     7    

  Sole Voting Power

 

  0

     8  

  Shared Voting Power

 

  1,227,317

     9  

  Sole Dispositive Power

 

  0

   10  

  Shared Dispositive Power

 

  1,227,317

11    

  Aggregate Amount Beneficially Owned by Each Reporting Person

 

  1,227,317

12  

  Check if the Aggregate Amount in Row (11) Excludes Certain Shares

 

  ☐

13  

  Percent of Class Represented by Amount in Row (11)

 

  12.3%

14  

  Type of Reporting Person

 

  OO (Limited Liability Company)

 


CUSIP No. 834203200    13D    Page 6 of 14 pages

 

  1    

  Names of Reporting Persons

 

  TC Group, L.L.C.

  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 if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

 

  ☐

  6  

  Citizenship or Place of Organization

 

  Delaware

NUMBER OF

SHARES

 BENEFICIALLY 

OWNED BY

EACH

REPORTING

PERSON

WITH

 

     7    

  Sole Voting Power

 

  0

     8  

  Shared Voting Power

 

  1,227,317

     9  

  Sole Dispositive Power

 

  0

   10  

  Shared Dispositive Power

 

  1,227,317

11    

  Aggregate Amount Beneficially Owned by Each Reporting Person

 

  1,227,317

12  

  Check if the Aggregate Amount in Row (11) Excludes Certain Shares

 

  ☐

13  

  Percent of Class Represented by Amount in Row (11)

 

  12.3%

14  

  Type of Reporting Person

 

  OO (Limited Liability Company)


CUSIP No. 834203200    13D    Page 7 of 14 pages

 

  1    

  Names of Reporting Persons

 

  Carlyle Investment Management L.L.C.

  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 if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

 

  ☐

  6  

  Citizenship or Place of Organization

 

  Delaware

NUMBER OF

SHARES

 BENEFICIALLY 

OWNED BY

EACH

REPORTING

PERSON

WITH

 

     7    

  Sole Voting Power

 

  0

     8  

  Shared Voting Power

 

  1,227,317

     9  

  Sole Dispositive Power

 

  0

   10  

  Shared Dispositive Power

 

  1,227,317

11    

  Aggregate Amount Beneficially Owned by Each Reporting Person

 

  1,227,317

12  

  Check if the Aggregate Amount in Row (11) Excludes Certain Shares

 

  ☐

13  

  Percent of Class Represented by Amount in Row (11)

 

  12.3%

14  

  Type of Reporting Person

 

  OO (Limited Liability Company)

 


CUSIP No. 834203200    13D    Page 8 of 14 pages

 

  1    

  Names of Reporting Persons

 

  Carlyle Genesis UK LLC

  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 if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

 

  ☐

  6  

  Citizenship or Place of Organization

 

  Delaware

NUMBER OF

SHARES

 BENEFICIALLY 

OWNED BY

EACH

REPORTING

PERSON

WITH

 

     7    

  Sole Voting Power

 

  0

     8  

  Shared Voting Power

 

  1,227,317

     9  

  Sole Dispositive Power

 

  0

   10  

  Shared Dispositive Power

 

  1,227,317

11    

  Aggregate Amount Beneficially Owned by Each Reporting Person

 

  1,227,317

12  

  Check if the Aggregate Amount in Row (11) Excludes Certain Shares

 

  ☐

13  

  Percent of Class Represented by Amount in Row (11)

 

  12.3%

14  

  Type of Reporting Person

 

  OO (Limited Liability Company)

 


CUSIP No. 834203200    13D    Page 9 of 14 pages

 

  1    

  Names of Reporting Persons

 

  Abingworth LLP

  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 if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

 

  ☐

  6  

  Citizenship or Place of Organization

 

  England and Wales

NUMBER OF

SHARES

 BENEFICIALLY 

OWNED BY

EACH

REPORTING

PERSON

WITH

 

     7    

  Sole Voting Power

 

  0

     8  

  Shared Voting Power

 

  1,227,317

     9  

  Sole Dispositive Power

 

  0

   10  

  Shared Dispositive Power

 

  1,227,317

11    

  Aggregate Amount Beneficially Owned by Each Reporting Person

 

  1,227,317

12  

  Check if the Aggregate Amount in Row (11) Excludes Certain Shares

 

  ☐

13  

  Percent of Class Represented by Amount in Row (11)

 

  12.3%

14  

  Type of Reporting Person

 

  PN


CUSIP No. 834203200    13D    Page 10 of 14 pages

 

  1    

  Names of Reporting Persons

 

  Abingworth Bioventures VII LP

  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 if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

 

  ☐

  6  

  Citizenship or Place of Organization

 

  England and Wales

NUMBER OF

SHARES

 BENEFICIALLY 

OWNED BY

EACH

REPORTING

PERSON

WITH

 

     7    

  Sole Voting Power

 

  0

     8  

  Shared Voting Power

 

  1,227,317

     9  

  Sole Dispositive Power

 

  0

   10  

  Shared Dispositive Power

 

  1,227,317

11    

  Aggregate Amount Beneficially Owned by Each Reporting Person

 

  1,227,317

12  

  Check if the Aggregate Amount in Row (11) Excludes Certain Shares

 

  ☐

13  

  Percent of Class Represented by Amount in Row (11)

 

  12.3%

14  

  Type of Reporting Person

 

  PN

 


CUSIP No. 834203200    13D    Page 11 of 14 pages

 

Explanatory Note

This Amendment No. 6 to Schedule 13D (“Amendment No. 6”) amends and supplements the Schedule 13D originally filed with the United States Securities and Exchange Commission on December 27, 2018 (as amended to date, the “Schedule 13D”), relating to the shares of common stock, par value $0.001 per share (the “Common Stock”), of Soleno Therapeutics, Inc., a Delaware corporation (the “Issuer”). Capitalized terms used herein without definition shall have the meanings set forth in the Schedule 13D.

 

Item 5.

Interest in Securities of the Issuer.

Item 5 of the Schedule 13D is hereby amended and restated in its entirety as follows:

(a) – (b) The following sets forth, as of the date of this Schedule 13D, the aggregate number of shares of Common Stock and percentage of Common Stock beneficially owned by each of the Reporting Persons, as well as the number of shares of Common Stock as to which each Reporting Person has the sole power to vote or to direct the vote, shared power to vote or to direct the vote, sole power to dispose or to direct the disposition of, or shared power to dispose or to direct the disposition of, as of the date hereof, based on 9,992,178 shares of Common Stock outstanding as of August 3, 2023, as disclosed in the Issuer’s quarterly report on Form 10-Q filed on August 8, 2023. The shares reported herein reflect a 1-to-15 reverse stock split effected by the Issuer on August 26, 2022.

 

Reporting Person

   Amount
beneficially
owned
     Percent
of class
    Sole
power to
vote or to
direct
the vote
     Shared
power to
vote or to
direct the
vote
     Sole power
to dispose
or to direct
the
disposition
     Shared
power to
dispose or to
direct the
disposition
 

The Carlyle Group Inc.

     1,227,317        12.3     0        1,227,317        0        1,227,317  

Carlyle Holdings I GP Inc.

     1,227,317        12.3     0        1,227,317        0        1,227,317  

Carlyle Holdings I GP Sub L.L.C.

     1,227,317        12.3     0        1,227,317        0        1,227,317  

Carlyle Holdings I L.P.

     1,227,317        12.3     0        1,227,317        0        1,227,317  

CG Subsidiary Holdings L.L.C.

     1,227,317        12.3     0        1,227,317        0        1,227,317  

TC Group, L.L.C.

     1,227,317        12.3     0        1,227,317        0        1,227,317  

Carlyle Investment Management L.L.C.

     1,227,317        12.3     0        1,227,317        0        1,227,317  

Carlyle Genesis UK LLC

     1,227,317        12.3     0        1,227,317        0        1,227,317  

Abingworth LLP

     1,227,317        12.3     0        1,227,317        0        1,227,317  

Abingworth Bioventures VII LP

     1,227,317        12.3     0        1,227,317        0        1,227,317  

Includes (i) 1,201,506 shares of Common Stock held of record by Abingworth Bioventures VII LP, (ii) 10,247 shares of Common Stock underlying stock options exercisable within 60 days as of the date hereof and (iii) 15,564 shares of Common Stock underlying warrants convertible within 60 days as of the date hereof.


CUSIP No. 834203200    13D    Page 12 of 14 pages

 

The amount of securities disclosed excludes (i) 514,666 shares of Common Stock underlying the March 2022 Warrants, which contain a provision prohibiting exercise to the extent that the holder, together with its affiliates, would beneficially own in excess of 4.99% of the total number of shares of Common Stock then issued and outstanding, and (ii) 1,092,056 and 1,778,000 shares of Common Stock underlying the Tranche A Warrants and Tranche B Warrants, respectively, which each contain a provision prohibiting exercise to the extent that the holder, together with its affiliates, would beneficially own in excess of 9.99% of the total number of shares of Common Stock then issued and outstanding.

The Carlyle Group Inc., which is a publicly traded entity listed on Nasdaq, is the sole shareholder of Carlyle Holdings I GP Inc., which is the sole member of Carlyle Holdings I GP Sub L.L.C., which is the general partner of Carlyle Holdings I L.P., which, with respect to the securities reported herein, is the managing member of CG Subsidiary Holdings L.L.C., which is the managing member of TC Group, L.L.C., which is the managing member of Carlyle Investment Management, L.L.C., which is the sole member of Carlyle Genesis UK LLC, which is the principal member of Abingworth LLP. Abingworth Bioventures VII LP has delegated to Abingworth LLP all investment and dispositive power over the securities held of record by Abingworth Bioventures VII LP. Accordingly, each of the foregoing entities may be deemed to share beneficial ownership of the securities held of record by Abingworth Bioventures VII LP, but each disclaims beneficial ownership of such securities.

 

(c)

During the past 60 days, the Reporting Persons have not effected any transactions with respect to the Common Stock.

 

(d)

None.

 

(e)

Not applicable.


CUSIP No. 834203200    13D    Page 13 of 14 pages

 

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.

Date: August 18, 2023

 

The Carlyle Group Inc.
By:  

/s/ Anne Frederick, attorney-in-fact

Name:   Curtis L. Buser
Title:   Chief Financial Officer
Carlyle Holdings I GP Inc.
By:  

/s/ Anne Frederick, attorney-in-fact

Name:   Curtis L. Buser
Title:   Managing Director and Chief Financial Officer
Carlyle Holdings I GP Sub L.L.C.
By: Carlyle Holdings I GP Inc., its sole member
By:  

/s/ Anne Frederick, attorney-in-fact

Name:   Curtis L. Buser
Title:   Managing Director and Chief Financial Officer
Carlyle Holdings I L.P.
By:  

/s/ Anne Frederick, attorney-in-fact

Name:   Curtis L. Buser
Title:   Managing Director
CG Subsidiary Holdings L.L.C.
By:  

/s/ Anne Frederick, attorney-in-fact

Name:   Curtis L. Buser
Title:   Managing Director
TC Group, L.L.C.
By:  

/s/ Anne Frederick, attorney-in-fact

Name:   Curtis L. Buser
Title:   Managing Director


CUSIP No. 834203200    13D    Page 14 of 14 pages

 

Carlyle Investment Management L.L.C.
By:  

/s/ Anne Frederick, attorney-in-fact

Name:   Curtis L. Buser
Title:   Chief Financial Officer
Carlyle Genesis UK LLC
By: Carlyle Investment Management L.L.C., its sole member
By:  

/s/ Anne Frederick, attorney-in-fact

Name:   Curtis L. Buser
Title:   Chief Financial Officer
Abingworth LLP
By:  

/s/ John Heard

Name:   John Heard
Title:   Authorized Signatory
Abingworth Bioventures VII LP
By:  

/s/ John Heard

Name:   John Heard
Title:   Authorized Signatory

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