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Section 1: SC 13G/A



 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549

 

SCHEDULE 13G/A

 

Under the Securities Exchange Act of 1934

(Amendment No. 2)*



PagSeguro Digital Ltd.

(Name of Issuer)

 

Class A Common Stock, par value $0.000025 per share

(Title of Class of Securities)

 

G68707101

(CUSIP Number)

 

 

November 9, 2018
(Date of Event Which Requires Filing of this Statement)

 

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

 

o Rule 13d-1(b)

x Rule 13d-1(c)

o 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.  G68707101
 SCHEDULE 13G/A
Page 2 of  8 Pages

 

         
1
NAME OF REPORTING PERSONS
 
Melvin Capital Management LP
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) o
(b) o
 
3
SEC USE ONLY
 
 
4
CITIZENSHIP OR PLACE OF ORGANIZATION
 
Delaware, USA
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH
5
SOLE VOTING POWER
 
0
6
SHARED VOTING POWER
 
16,966,571
7
SOLE DISPOSITIVE POWER
 
0
8
SHARED DISPOSITIVE POWER
 
16,966,571
9
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 
16,966,571*
10
CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
 
 
o
11
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
 
10.4%
12
TYPE OF REPORTING PERSON
 
IA

*Includes 1,000,000 shares subject to call options.
 


 

CUSIP No.  G68707101
 SCHEDULE 13G/A
Page 3 of  8 Pages

 

         
1
NAME OF REPORTING PERSONS
 
Melvin Capital Master Fund Ltd
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) o
(b) o
 
3
SEC USE ONLY
 
 
4
CITIZENSHIP OR PLACE OF ORGANIZATION
 
Cayman Islands
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH
5
SOLE VOTING POWER
 
0
6
SHARED VOTING POWER
 
9,074,907
7
SOLE DISPOSITIVE POWER
 
0
8
SHARED DISPOSITIVE POWER
 
9,074,907
9
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 
9,074,907*
10
CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
 
 
o
11
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
 
5.6%
12
TYPE OF REPORTING PERSON
 
CO

 
*Includes 654,900 shares subject to call options.
 


 

CUSIP No. G68707101
 SCHEDULE 13G/A
Page 4 of  8 Pages

 

Item 1.(a) Name of Issuer

PagSeguro Digital Ltd. (the “Issuer”)

Item 1.(b) Address of Issuer’s Principal Executive Offices

Av. Brigadeiro Faria Lima, 1384, 4º andar, parte A

São Paulo, SP, 01451-001, Brazil

Item 2.(a, b, c) Names of Person Filing, Address of Principal Business Office, Citizenship:

Melvin Capital Management LP, a Delaware limited partnership, 527 Madison Avenue, 25th Floor, New York, NY 10022.

Melvin Capital Master Fund Ltd, a Cayman Islands exempt entity, 527 Madison Avenue, 25th Floor, New York, NY 10022.

  

Item 2.(d) Title of Class of Securities

Class A Common Stock, par value $0.000025 per share

 

Item 2.(e) CUSIP No.:

G68707101

 

CUSIP No.  G68707101
 SCHEDULE 13G/A
Page 5 of  8 Pages

 

 

Item 3. If this statement is filed pursuant to §§240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:

  (a) ¨ Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
 
  (b) ¨ Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
 
  (c) ¨ Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
 
  (d) ¨ Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
 
  (e) o An investment adviser in accordance with §240.13d-1(b)(1)(ii)(E);
 
  (f) ¨ An employee benefit plan or endowment fund in accordance with §240.13d-1(b)(1)(ii)(F);
 
  (g) ¨ A parent holding company or control person in accordance with §240.13d-1(b)(1)(ii)(G);
 
  (h) ¨ A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
 
  (i) ¨ A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
 
  (j) ¨ A non-U.S. institution in accordance with §240.13d-1(b)(1)(ii)(J);
 
  (k) ¨

A group, in accordance with §240.13d-1(b)(1)(ii)(K). If filing as a non-U.S. institution in accordance with §240.13d-1(b)(1)(ii)(J), please specify the type of institution:                             

 

Not Applicable.
       

 

CUSIP No. G68707101
 SCHEDULE 13G/A
Page 6 of  8 Pages

 

 

Item 4. Ownership

Information with respect to Melvin Capital Management LP’s (the “Firm”) and Melvin Capital Master Fund Ltd’s (“Melvin Master”) ownership of the Common Stock as of November 9, 2018 is incorporated by reference to items (5) - (9) and (11) of the respective cover page of the Firm and Melvin Master.

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 person has 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

The Firm is the investment manager to Melvin Master, a Cayman Islands exempted company, Melvin Capital Onshore LP, a Delaware limited partnership ("Melvin Onshore"), Melvin Capital II LTD, ("Melvin II") and one or more managed accounts (the "Managed Accounts" and together with Melvin Master, Melvin Onshore and Melvin II, the "Melvin Funds and Accounts").

As of November 9, 2018, the Firm may be deemed to beneficially own an aggregate of 16,966,571 shares of Common Stock of the Issuer. The number of shares reported above consists of (i) 8,420,007 shares of Common Stock and call options exercisable into 654,900 shares of Common Stock held by Melvin Master, (ii) 1,945,005 shares of Common Stock and call options exercisable into 139,500 shares of Common Stock held by Melvin Onshore, (iii) 3,054,349 shares of Common Stock held by Melvin II, and (iv) 2,547,210 shares of Common Stock and call options exercisable into 205,600 shares of Common Stock held by the Managed Accounts. The Firm, as the investment manager to the Melvin Funds and Accounts, may be deemed to beneficially own the 15,966,571 shares of Common Stock and the call options exercisable into 1,000,000 shares of Common Stock held by the Melvin Funds and Accounts. Ownership is based on 161,598,786 shares of Common Stock deemed issued and outstanding as of November 9, 2018, based on information from the Issuer.

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

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above 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.

 

 
CUSIP No. G68707101
 SCHEDULE 13G/A
Page 7 of  8 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: November 16, 2018

 

 

 

 

Melvin Capital Management LP

       
  By:  /s/ Evan Cohen
   

Evan Cohen, Chief Compliance Officer

 

 

Melvin Capital Master Fund Ltd

       
  By:  /s/ Evan Cohen
    Evan Cohen, Chief Compliance Officer
     
       

 

 
CUSIP No. G68707101
 SCHEDULE 13G/A
Page 8 of 8 Pages

 

Exhibit I

 

JOINT FILING STATEMENT

 

PURSUANT TO RULE 13d-1(k)

 

The undersigned acknowledge and agree that the foregoing statement on Schedule 13G/A, is filed on behalf of each of the undersigned and that all subsequent amendments to this statement on Schedule 13G/A, shall be filed on behalf of each of the undersigned without the necessity of filing additional joint acquisition statements. The undersigned acknowledge that each shall be responsible for the timely filing of such amendments, and for the completeness and accuracy of the information concerning him or it contained therein, but shall not be responsible for the completeness and accuracy of the information concerning the others, except to the extent that he or it knows or has reason to believe that such information is inaccurate.

 

Dated: November 16, 2018

 

 

 

 

Melvin Capital Management LP

       
  By:  /s/ Evan Cohen
    Evan Cohen, Chief Compliance Officer
       
 

Melvin Capital Master Fund Ltd

By:  Melvin Capital Management LP

       
  By:  /s/ Evan Cohen
    Evan Cohen, Chief Compliance Officer
       
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