SC 13G/A

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

SCHEDULE 13G

(Rule 13d-102)

INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT

TO §240.13d-1(b), (c) AND (d) AND AMENDMENTS THERETO FILED PURSUANT TO §240.13d-2

Amendment No. 1

 

 

ARDELYX, INC.

(Name of Issuer)

Common Stock, $0.0001 par value per share

(Title of Class of Securities)

039697107

(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).

 

 

 

  1   

Names of Reporting Persons

 

Presidio Partners 2007 GP, LLC

  2  

Check the Appropriate Box if a Member of a Group

(a)  ¨        (b)  x (1)

 

  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

 

    0 Shares

   6   

Shared Voting Power

 

    2,539,706 Shares (2)

   7   

Sole Dispositive Power

 

    0 Shares

   8   

Shared Dispositive Power

 

    2,539,706 Shares (2)

  9  

Aggregate Amount Beneficially Owned by Each Reporting Person

 

    2,539,706 Shares (2)

10  

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

 

11  

Percent of Class Represented by Amount in Row (9)

 

    9.78% (3)

12  

Type of Reporting Person

 

    OO

 

(1) This Schedule 13G is filed by Presidio Partners 2007 GP, LLC (Presidio GP LLC), Presidio Partners 2007 GP, L.P. (“Presidio GP LP”), Presidio Partners 2007, L.P. (“Presidio 2007”) and Presidio Partners 2007 (Parallel), L.P. (“Presidio Parallel”), David J. Collier (“Collier”), Faysal A. Sohail (“Sohail”) and James F. Watson (“Watson”) (together, the “Reporting Persons”). The Reporting Persons may be considered a “group” for purposes of Section 13 of the Exchange Act and expressly disclaim status as a “group” for purposes of this Schedule 13G. Presidio GP LLC serves as the general partner of Presidio GP LP, which serves as the general partner of Presidio 2007 and Presidio Parallel and may be deemed to own beneficially the shares held by Presidio 2007 and Presidio Parallel. Collier, Watson and Sohail share voting and investment power over and may be deemed to own beneficially the shares held by Presidio 2007 and Presidio Parallel.
(2) Includes 2,476,216 shares of Common Stock held by Presidio 2007 and 63,490 shares of Common Stock held by Presidio Parallel as of December 31, 2015.
(3) The percentage is based upon 25,956,941 shares of Common Stock of the Issuer outstanding (as of November 9, 2015) as reported by the Issuer in its 10-Q for the period ended September 30, 2015; and filed on November 12, 2015.

 

Page 2 of 14 pages

  1   

Names of Reporting Persons

 

Presidio Partners 2007 GP, L.P.

  2  

Check the Appropriate Box if a Member of a Group

(a)  ¨        (b)  x (1)

 

  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

 

    0 Shares

   6   

Shared Voting Power

 

    2,539,706 Shares (2)

   7   

Sole Dispositive Power

 

    0 Shares

   8   

Shared Dispositive Power

 

    2,539,706 Shares (2)

  9  

Aggregate Amount Beneficially Owned by Each Reporting Person

 

    2,539,706 Shares (2)

10  

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

 

11  

Percent of Class Represented by Amount in Row (9)

 

    9.78% (3)

12  

Type of Reporting Person

 

    PN

 

(1) This Schedule 13G is filed by Presidio Partners 2007 GP, LLC (Presidio GP LLC), Presidio Partners 2007 GP, L.P. (“Presidio GP LP”), Presidio Partners 2007, L.P. (“Presidio 2007”) and Presidio Partners 2007 (Parallel), L.P. (“Presidio Parallel”), David J. Collier (“Collier”), Faysal A. Sohail (“Sohail”) and James F. Watson (“Watson”) (together, the “Reporting Persons”). The Reporting Persons may be considered a “group” for purposes of Section 13 of the Exchange Act and expressly disclaim status as a “group” for purposes of this Schedule 13G. Presidio GP LLC serves as the general partner of Presidio GP LP, which serves as the general partner of Presidio 2007 and Presidio Parallel and may be deemed to own beneficially the shares held by Presidio 2007 and Presidio Parallel. Collier, Watson and Sohail share voting and investment power over and may be deemed to own beneficially the shares held by Presidio 2007 and Presidio Parallel.
(2) Includes 2,476,216 shares of Common Stock held by Presidio 2007 and 63,490 shares of Common Stock held by Presidio Parallel as of December 31, 2015.
(3) The percentage is based upon 25,956,941 shares of Common Stock of the Issuer outstanding (as of November 9, 2015) as reported by the Issuer in its 10-Q for the period ended September 30, 2015; and filed on November 12, 2015.

 

Page 3 of 14 pages

  1   

Names of Reporting Persons

 

Presidio Partners 2007, L.P.

  2  

Check the Appropriate Box if a Member of a Group

(a)  ¨        (b)  x (1)

 

  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

 

    0 Shares

   6   

Shared Voting Power

 

    2,539,706 Shares (2)

   7   

Sole Dispositive Power

 

    0 Shares

   8   

Shared Dispositive Power

 

    2,539,706 Shares (2)

  9  

Aggregate Amount Beneficially Owned by Each Reporting Person

 

    2,539,706 Shares (2)

10  

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

 

11  

Percent of Class Represented by Amount in Row (9)

 

    9.78% (3)

12  

Type of Reporting Person

 

    PN

 

(1) This Schedule 13G is filed by Presidio Partners 2007 GP, LLC (Presidio GP LLC), Presidio Partners 2007 GP, L.P. (“Presidio GP LP”), Presidio Partners 2007, L.P. (“Presidio 2007”) and Presidio Partners 2007 (Parallel), L.P. (“Presidio Parallel”), David J. Collier (“Collier”), Faysal A. Sohail (“Sohail”) and James F. Watson (“Watson”) (together, the “Reporting Persons”). The Reporting Persons may be considered a “group” for purposes of Section 13 of the Exchange Act and expressly disclaim status as a “group” for purposes of this Schedule 13G. Presidio GP LLC serves as the general partner of Presidio GP LP, which serves as the general partner of Presidio 2007 and Presidio Parallel and may be deemed to own beneficially the shares held by Presidio 2007 and Presidio Parallel. Collier, Watson and Sohail share voting and investment power over and may be deemed to own beneficially the shares held by Presidio 2007 and Presidio Parallel.
(2) Includes 2,476,216 shares of Common Stock held by Presidio 2007 and 63,490 shares of Common Stock held by Presidio Parallel as of December 31, 2015.
(3) The percentage is based upon 25,956,941 shares of Common Stock of the Issuer outstanding (as of November 9, 2015) as reported by the Issuer in its 10-Q for the period ended September 30, 2015; and filed on November 12, 2015.

 

Page 4 of 14 pages

  1   

Names of Reporting Persons

 

Presidio Partners 2007 (Parallel), L.P.

  2  

Check the Appropriate Box if a Member of a Group

(a)  ¨        (b)  x (1)

 

  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

 

    0 Shares

   6   

Shared Voting Power

 

    2,539,706 Shares (2)

   7   

Sole Dispositive Power

 

    0 Shares

   8   

Shared Dispositive Power

 

    2,539,706 Shares (2)

  9  

Aggregate Amount Beneficially Owned by Each Reporting Person

 

    2,539,706 Shares (2)

10  

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

 

11  

Percent of Class Represented by Amount in Row (9)

 

    9.78% (3)

12  

Type of Reporting Person

 

    PN

 

(1) This Schedule 13G is filed by Presidio Partners 2007 GP, LLC (Presidio GP LLC), Presidio Partners 2007 GP, L.P. (“Presidio GP LP”), Presidio Partners 2007, L.P. (“Presidio 2007”) and Presidio Partners 2007 (Parallel), L.P. (“Presidio Parallel”), David J. Collier (“Collier”), Faysal A. Sohail (“Sohail”) and James F. Watson (“Watson”) (together, the “Reporting Persons”). The Reporting Persons may be considered a “group” for purposes of Section 13 of the Exchange Act and expressly disclaim status as a “group” for purposes of this Schedule 13G. Presidio GP LLC serves as the general partner of Presidio GP LP, which serves as the general partner of Presidio 2007 and Presidio Parallel and may be deemed to own beneficially the shares held by Presidio 2007 and Presidio Parallel. Collier, Watson and Sohail share voting and investment power over and may be deemed to own beneficially the shares held by Presidio 2007 and Presidio Parallel.
(2) Includes 2,476,216 shares of Common Stock held by Presidio 2007 and 63,490 shares of Common Stock held by Presidio Parallel as of December 31, 2015.
(3) The percentage is based upon 25,956,941 shares of Common Stock of the Issuer outstanding (as of November 9, 2015) as reported by the Issuer in its 10-Q for the period ended September 30, 2015; and filed on November 12, 2015.

 

Page 5 of 14 pages

  1   

Names of Reporting Persons

 

David J. Collier

  2  

Check the Appropriate Box if a Member of a Group

(a)  ¨        (b)  x (1)

 

  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

 

    0 Shares

   6   

Shared Voting Power

 

    2,539,706 Shares (2)

   7   

Sole Dispositive Power

 

    0 Shares

   8   

Shared Dispositive Power

 

    2,539,706 Shares (2)

  9  

Aggregate Amount Beneficially Owned by Each Reporting Person

 

    2,539,706 Shares (2)

10  

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

 

11  

Percent of Class Represented by Amount in Row (9)

 

    9.78% (3)

12  

Type of Reporting Person

 

    IN

 

(1) This Schedule 13G is filed by Presidio Partners 2007 GP, LLC (Presidio GP LLC), Presidio Partners 2007 GP, L.P. (“Presidio GP LP”), Presidio Partners 2007, L.P. (“Presidio 2007”) and Presidio Partners 2007 (Parallel), L.P. (“Presidio Parallel”), David J. Collier (“Collier”), Faysal A. Sohail (“Sohail”) and James F. Watson (“Watson”) (together, the “Reporting Persons”). The Reporting Persons may be considered a “group” for purposes of Section 13 of the Exchange Act and expressly disclaim status as a “group” for purposes of this Schedule 13G. Presidio GP LLC serves as the general partner of Presidio GP LP, which serves as the general partner of Presidio 2007 and Presidio Parallel and may be deemed to own beneficially the shares held by Presidio 2007 and Presidio Parallel. Collier, Watson and Sohail share voting and investment power over and may be deemed to own beneficially the shares held by Presidio 2007 and Presidio Parallel.
(2) Includes 2,476,216 shares of Common Stock held by Presidio 2007 and 63,490 shares of Common Stock held by Presidio Parallel as of December 31, 2015.
(3) The percentage is based upon 25,956,941 shares of Common Stock of the Issuer outstanding (as of November 9, 2015) as reported by the Issuer in its 10-Q for the period ended September 30, 2015; and filed on November 12, 2015.

 

Page 6 of 14 pages

  1   

Names of Reporting Persons

 

James F. Watson

  2  

Check the Appropriate Box if a Member of a Group

(a)  ¨        (b)  x (1)

 

  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

 

    5,319 Shares

   6   

Shared Voting Power

 

    2,539,706 Shares (2)

   7   

Sole Dispositive Power

 

    5,319 Shares

   8   

Shared Dispositive Power

 

    2,539,706 Shares (2)

  9  

Aggregate Amount Beneficially Owned by Each Reporting Person

 

    2,545,025 Shares (2)

10  

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

 

11  

Percent of Class Represented by Amount in Row (9)

 

    9.80% (3)

12  

Type of Reporting Person

 

    IN

 

(1) This Schedule 13G is filed by Presidio Partners 2007 GP, LLC (Presidio GP LLC), Presidio Partners 2007 GP, L.P. (“Presidio GP LP”), Presidio Partners 2007, L.P. (“Presidio 2007”) and Presidio Partners 2007 (Parallel), L.P. (“Presidio Parallel”), David J. Collier (“Collier”), Faysal A. Sohail (“Sohail”) and James F. Watson (“Watson”) (together, the “Reporting Persons”). The Reporting Persons may be considered a “group” for purposes of Section 13 of the Exchange Act and expressly disclaim status as a “group” for purposes of this Schedule 13G. Presidio GP LLC serves as the general partner of Presidio GP LP, which serves as the general partner of Presidio 2007 and Presidio Parallel and may be deemed to own beneficially the shares held by Presidio 2007 and Presidio Parallel. Collier, Watson and Sohail share voting and investment power over and may be deemed to own beneficially the shares held by Presidio 2007 and Presidio Parallel.
(2) Includes 2,476,216 shares of Common Stock held by Presidio 2007 and 63,490 shares of Common Stock held by Presidio Parallel as of December 31, 2015.
(3) The percentage is based upon 25,956,941 shares of Common Stock of the Issuer outstanding (as of November 9, 2015) as reported by the Issuer in its 10-Q for the period ended September 30, 2015; and filed on November 12, 2015.

 

Page 7 of 14 pages

  1   

Names of Reporting Persons

 

Faysal A. Sohail

  2  

Check the Appropriate Box if a Member of a Group

(a)  ¨        (b)  x (1)

 

  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

 

    0 Shares

   6   

Shared Voting Power

 

    2,539,706 Shares (2)

   7   

Sole Dispositive Power

 

    0 Shares

   8   

Shared Dispositive Power

 

    2,539,706 Shares (2)

  9  

Aggregate Amount Beneficially Owned by Each Reporting Person

 

    2,539,706 Shares (2)

10  

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

 

11  

Percent of Class Represented by Amount in Row (9)

 

    9.78% (3)

12  

Type of Reporting Person

 

    IN

 

(1) This Schedule 13G is filed by Presidio Partners 2007 GP, LLC (Presidio GP LLC), Presidio Partners 2007 GP, L.P. (“Presidio GP LP”), Presidio Partners 2007, L.P. (“Presidio 2007”) and Presidio Partners 2007 (Parallel), L.P. (“Presidio Parallel”), David J. Collier (“Collier”), Faysal A. Sohail (“Sohail”) and James F. Watson (“Watson”) (together, the “Reporting Persons”). The Reporting Persons may be considered a “group” for purposes of Section 13 of the Exchange Act and expressly disclaim status as a “group” for purposes of this Schedule 13G. Presidio GP LLC serves as the general partner of Presidio GP LP, which serves as the general partner of Presidio 2007 and Presidio Parallel and may be deemed to own beneficially the shares held by Presidio 2007 and Presidio Parallel. Collier, Watson and Sohail share voting and investment power over and may be deemed to own beneficially the shares held by Presidio 2007 and Presidio Parallel.
(2) Includes 2,476,216 shares of Common Stock held by Presidio 2007 and 63,490 shares of Common Stock held by Presidio Parallel as of December 31, 2015.
(3) The percentage is based upon 25,956,941 shares of Common Stock of the Issuer outstanding (as of November 9, 2015) as reported by the Issuer in its 10-Q for the period ended September 30, 2015; and filed on November 12, 2015.

 

Page 8 of 14 pages

Item 1(a).   

Name of Issuer:

Ardelyx, Inc.

 

Item 1(b).   

Address of Issuer’s Principal Executive Offices:

34175 Ardenwood Blvd.

Fremont, California 94555

Item 2(a).   

Name of Person Filing:

This Schedule 13G is being jointly filed by:

 

Presidio Partners 2007 GP, LLC (“Presidio GP LLC”)

Presidio Partners 2007 GP, L.P. (“Presidio GP LP”)

Presidio Partners 2007, L.P. (“Presidio 2007”)

Presidio Partners 2007(Parallel), L.P. (“Presidio Parallel”)

 

David J. Collier (“Collier”)

James F. Watson (“Watson”)

Faysal A. Sohail (“Sohail”)

 

Item 2(b).

   

 

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

Presidio Partners

One Letterman Drive, Building C, Suite CM 500

San Francisco, CA 94129

Item 2(c).   

Citizenship:

 

   
   Presidio GP LLC   -    Delaware Limited Liability Company
   Presidio GP LP      Delaware Limited Partnership
   Presidio 2007   -    Delaware Limited Partnership
   Presidio Parallel   -    Delaware Limited Partnership
   Collier      United States citizen
   Watson      United States citizen
   Sohail      United States citizen

 

Item 2(d).

   

 

Title of Class of Securities:

Common Stock, $0.0001 par value per share

Item 2(e).   

CUSIP No.:

039697107

Item 3.    Not Applicable.

 

Page 9 of 14 pages

Item 4. Ownership

 

Presidio Entity

    Shares Held
Directly		      Sole
Voting
Power		      Shared
Voting
Power		      Sole
Dispositive
Power		      Shared
Dispositive
Power		      Beneficial
Ownership		      Percentage
of Class		  

Presidio 2007

      2,476,216         0         2,539,706         0         2,539,706         2,539,706         9.78 % 

Presidio Parallel

      63,490         0         2,539,706         0         2,539,706         2,539,706         9.78 % 

 

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 the beneficial owner 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

 

Page 10 of 14 pages

Item 10. Certifications

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect.

 

Page 11 of 14 pages

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.

Dated: February 10, 2016

 

Presidio Partners 2007 GP, LLC
By:  

/s/ David J. Collier

  David J. Collier, Manager
Presidio Partners 2007 GP, L.P.
By:   Presidio Partners 2007 GP, LLC
Its:   General Partner
By:  

/s/ David J. Collier

  David J. Collier, Manager
Presidio Partners 2007, L.P.
By:   Presidio Partners 2007 GP, L.P.
Its:   General Partner
By:   Presidio Partners 2007 GP, LLC
Its:   General Partner
By:  

/s/ David J. Collier

  David J. Collier, Manager

 

Presidio Partners 2007 (Parallel), L.P.
By:   Presidio Partners 2007 GP, L.P.
Its:   General Partner
By:   Presidio Partners 2007 GP, LLC
Its:   General Partner
By:  

/s/ David J. Collier

  David J. Collier, Manager

/s/ David J. Collier

David J. Collier

/s/ James F. Watson

James F. Watson

/s/ Faysal A. Sohail

Faysal A. Sohail

 

Page 12 of 14 pages

EXHIBIT INDEX

 

Exhibit
No.

     
99.1    Agreement pursuant to 13d-1(k)(1) among Presidio Partners 2007 GP, LLC, Presidio Partners 2007, GP, L.P., Presidio Partners 2007, L.P. and Presidio Partners 2007 (Parallel), L.P.

 

Page 13 of 14 pages