SC 13D/A

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

SCHEDULE 13D

UNDER SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 6)*

 

 

Genpact Limited

(Name of Issuer)

Common Shares, $0.01 par value per share

(Title of Class of Securities)

G3922B107

(CUSIP Number)

 

Glory Investments B Limited

Suite 110, 10th Floor

Ebene Heights Building

34 Ebene Cybercity

Ebene, Mauritius

(230) 468 1320

 

GIC Private Limited

168, Robinson Road

#37-01, Capital Tower

Singapore 068912

+65 6889 8888

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

November 26, 2019

(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), 13d-1(f) or 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 §240.13d-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 (the “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. G3922B107    13D   

 

  1    

  NAME OF REPORTING PERSON: Glory Investments A Limited 

 

   I.R.S. IDENTIFICATION NO. OF ABOVE PERSON: 98-0651998

  2    

  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

  (a)  ☐        (b)  ☐

 

  3    

  SEC USE ONLY

 

  4    

  SOURCE OF FUNDS

 

  AF, BK

  5    

  CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) or 2(e)

 

  ☐

  6    

  CITIZENSHIP OR PLACE OF ORGANIZATION

 

   Mauritius

NUMBER OF

SHARES

  BENEFICIALLY  

OWNED BY

EACH

REPORTING

PERSON

WITH

    7     

  SOLE VOTING POWER

 

  0

  8     

  SHARED VOTING POWER

 

  0

  9     

  SOLE DISPOSITIVE POWER

 

  0

  10     

  SHARED DISPOSITIVE POWER

 

  0

11    

  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

  0

12    

  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES

 

  ☐

13    

  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

 

  0%

14    

  TYPE OF REPORTING PERSON

 

  CO


CUSIP No. G3922B107    13D   

 

  1    

  NAME OF REPORTING PERSON: Glory Investments B Limited 

 

   I.R.S. IDENTIFICATION NO. OF ABOVE PERSON: 98-0652001

  2    

  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

  (a)  ☐        (b)  ☐

 

  3    

  SEC USE ONLY

 

  4    

  SOURCE OF FUNDS

 

  AF, BK

  5    

  CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) or 2(e)

 

  ☐

  6    

  CITIZENSHIP OR PLACE OF ORGANIZATION

 

   Mauritius

NUMBER OF

SHARES

  BENEFICIALLY  

OWNED BY

EACH

REPORTING

PERSON

WITH

    7     

  SOLE VOTING POWER

 

  0

  8     

  SHARED VOTING POWER

 

  0

  9     

  SOLE DISPOSITIVE POWER

 

  0

  10     

  SHARED DISPOSITIVE POWER

 

  0

11    

  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

  0

12    

  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES

 

  ☐

13    

  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

 

  0%

14    

  TYPE OF REPORTING PERSON

 

  CO


CUSIP No. G3922B107    13D   

 

  1    

   NAME OF REPORTING PERSON: Glory Investments IV Limited 

 

   I.R.S. IDENTIFICATION NO. OF ABOVE PERSON: 98-1067044

  2    

  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

  (a)  ☐        (b)  ☐

 

  3    

  SEC USE ONLY

 

  4    

  SOURCE OF FUNDS

 

  AF, BK

  5    

  CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) or 2(e)

 

  ☐

  6    

  CITIZENSHIP OR PLACE OF ORGANIZATION

 

   Mauritius

NUMBER OF

SHARES

  BENEFICIALLY  

OWNED BY

EACH

REPORTING

PERSON

WITH

    7     

  SOLE VOTING POWER

 

  0

  8     

  SHARED VOTING POWER

 

  0

  9     

  SOLE DISPOSITIVE POWER

 

  0

  10     

  SHARED DISPOSITIVE POWER

 

  0

11    

  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

  0

12    

  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES

 

  ☐

13    

  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

 

  0%

14    

  TYPE OF REPORTING PERSON

 

  CO


CUSIP No. G3922B107    13D   

 

  1    

   NAME OF REPORTING PERSON: Glory Investments IV-B Limited 

 

   I.R.S. IDENTIFICATION NO. OF ABOVE PERSON: 39-2079858

  2    

  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

  (a)  ☐        (b)  ☐

 

  3    

  SEC USE ONLY

 

  4    

  SOURCE OF FUNDS

 

  AF, BK

  5    

  CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) or 2(e)

 

  ☐

  6    

  CITIZENSHIP OR PLACE OF ORGANIZATION

 

   Mauritius

NUMBER OF

SHARES

  BENEFICIALLY  

OWNED BY

EACH

REPORTING

PERSON

WITH

    7     

  SOLE VOTING POWER

 

  0

  8     

  SHARED VOTING POWER

 

  0

  9     

  SOLE DISPOSITIVE POWER

 

  0

  10     

  SHARED DISPOSITIVE POWER

 

  0

11    

  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

  0

12    

  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES

 

  ☐

13    

  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

 

  0%

14    

  TYPE OF REPORTING PERSON

 

  CO


CUSIP No. G3922B107    13D   

 

  1    

  NAME OF REPORTING PERSON: GIC Private Limited

 

   I.R.S. IDENTIFICATION NO. OF ABOVE PERSON: N/A

  2    

  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

  (a)  ☐        (b)  ☐

 

  3    

  SEC USE ONLY

 

  4    

  SOURCE OF FUNDS

 

  OO

  5    

  CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) or 2(e)

 

  ☐

  6    

  CITIZENSHIP OR PLACE OF ORGANIZATION

 

   Republic of Singapore

NUMBER OF

SHARES

  BENEFICIALLY  

OWNED BY

EACH

REPORTING

PERSON

WITH

    7     

  SOLE VOTING POWER

 

  0

  8     

  SHARED VOTING POWER

 

  0

  9     

  SOLE DISPOSITIVE POWER

 

  0

  10     

  SHARED DISPOSITIVE POWER

 

  0

11    

  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

  0

12    

  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES

 

  ☐

13    

  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

 

  0%

14    

  TYPE OF REPORTING PERSON

 

  CO


CUSIP No. G3922B107    13D   

 

  1    

  NAME OF REPORTING PERSON: GIC Special Investments Pte. Ltd.

 

   I.R.S. IDENTIFICATION NO. OF ABOVE PERSON: N/A

  2    

  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

  (a)  ☐        (b)  ☐

 

  3    

  SEC USE ONLY

 

  4    

  SOURCE OF FUNDS

 

  OO

  5    

  CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) or 2(e)

 

  ☐

  6    

  CITIZENSHIP OR PLACE OF ORGANIZATION

 

   Republic of Singapore

NUMBER OF

SHARES

  BENEFICIALLY  

OWNED BY

EACH

REPORTING

PERSON

WITH

    7     

  SOLE VOTING POWER

 

  0

  8     

  SHARED VOTING POWER

 

  0

  9     

  SOLE DISPOSITIVE POWER

 

  0

  10     

  SHARED DISPOSITIVE POWER

 

  0

11    

  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

  0

12    

  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES

 

  ☐

13    

  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

 

  0%

14    

  TYPE OF REPORTING PERSON

 

  CO


CUSIP No. G3922B107    13D   

 

  1    

   NAME OF REPORTING PERSON: Twickenham Investment Private Limited

 

   I.R.S. IDENTIFICATION NOS. OF ABOVE PERSON: N/A

  2    

  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

  (a)  ☐        (b)  ☐

 

  3    

  SEC USE ONLY

 

  4    

  SOURCE OF FUNDS

 

  OO

  5    

  CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) or 2(e)

 

  ☐

  6    

  CITIZENSHIP OR PLACE OF ORGANIZATION

 

   Republic of Singapore

NUMBER OF

SHARES

  BENEFICIALLY  

OWNED BY

EACH

REPORTING

PERSON

WITH

    7     

  SOLE VOTING POWER

 

  0

  8     

  SHARED VOTING POWER

 

  0

  9     

  SOLE DISPOSITIVE POWER

 

  0

  10     

  SHARED DISPOSITIVE POWER

 

  0

11    

  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

  0

12    

  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES

 

  ☐

13    

  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

 

  0%

14    

  TYPE OF REPORTING PERSON

 

  CO


This Amendment No. 6 to Schedule 13D relates to common shares, par value $0.01 per share (the “Common Shares”) of the Issuer and amends the initial statement on Schedule 13D filed on November 5, 2012, as amended and supplemented by Amendment No. 1 filed on August 18, 2017, Amendment No. 2 filed on November 20, 2017, Amendment No. 3 filed on February 19, 2019, Amendment No. 4 filed on May 28, 2019, and Amendment No. 5 filed on August 19, 2019 filed jointly by each of Glory Investments A Limited, a Mauritius public company limited by shares (“Glory A”), Glory Investments B Limited, a Mauritius public company limited by shares (“Glory B”), Glory Investments IV Limited, a Mauritius private company limited by shares (“Glory IV”), Glory Investments IV-B Limited, a Mauritius private company limited by shares (“Glory IV-B”), RGIP, LP, a Delaware limited partnership, GIC Private Limited, a private company limited by shares organized under the laws of the Republic of Singapore (“GIC”), GIC Special Investments Pte. Ltd., a private company limited by shares organized under the laws of the Republic of Singapore (“GICSI”), and Twickenham Investment Private Limited, a private company limited by shares organized under the laws of the Republic of Singapore (“Twickenham”), (Glory A, Glory B, Glory IV, Glory IV-B, GIC, GICSI and Twickenham, each a “Reporting Person” and, collectively, the “Reporting Persons”) relating to the Common Shares (the “Initial Statement” and, together with this Amendment No. 3, the “Schedule 13D”). Capitalized terms used but not defined herein shall have the meanings ascribed to them in the Initial Statement. Glory A, Glory B, Glory IV and Glory IV-B are collectively referred to herein as the “Glory Entities”.

Item 2. Identity and Background

Item 2 of the Schedule 13D is hereby amended as follows:

(c) With respect to each of the Reporting Persons, the names of each of (i) the executive officers and directors of such Reporting Person and (ii) the person(s) controlling such Reporting Person, and their respective principal business address, principal business, occupation and citizenship (as applicable), are provided on Schedule A to this Schedule 13D.

Item 5. Interest in Securities of the Issuer.

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

(a), (b) The information required in these paragraphs with respect to each of the Reporting Persons is set forth in Rows 7 through 13 of the cover pages to this Schedule 13D and Item 2(b) and is incorporated herein by reference. Because the Glory Entities and Twickenham are party to the Investor Agreement, and by virtue of the nature of the transaction contemplated therein (as described in Item 4), (i) the Genpact Investors could be deemed to be a “group” (within the meaning of Section 13(d)(3) of the Exchange Act) with respect to the Common Shares, and (ii) each of the Genpact Investors and the other persons identified in Item 2(b) may be deemed to beneficially own all of the Common Shares beneficially owned by one another. As noted in Item 2, each of the Reporting Persons disclaims beneficial ownership of any Common Shares beneficially owned by any of the other Reporting Persons or any other person. The Reporting Persons hold an aggregate of zero Common Shares.

Twickenham is controlled and managed by GICSI, which is in turn wholly-owned by GIC. Pursuant to Section 13(d) of the Exchange Act and the rules promulgated thereunder, GIC and GICSI may be deemed to beneficially own all of the Common Shares beneficially owned by Twickenham.

(c) On November 26, 2019, Glory A, Glory B, Glory IV, Glory IV-B and Twickenham (collectively, the “Selling Shareholders”) collectively sold 15,430,841 Common Shares in an underwritten public offering, as further described in Item 6 below. The Common Shares sold by Twickenham included 230,975 Common Shares transferred to it by GIC on November 21, 2019 for no additional consideration.

(d) Not Applicable.

(e) See above.


Item 6. Contracts, Arrangements, Understandings or Relationships with respect to Securities of the Issuer.

Item 6 of the Schedule 13D is hereby amended and supplemented as follows:

Underwriting Agreement

On November 21, 2019, the Selling Shareholders entered into an underwriting agreement (the “Underwriting Agreement”) with the Issuer and Goldman Sachs & Co. LLC (the “Underwriter”), pursuant to which the Underwriter agreed to purchase an aggregate of 15,430,841 Common Shares from the Selling Shareholders at a price of $39.865 per share. The transaction closed on November 26, 2019. The Selling Shareholders sold the following Common Shares pursuant to the Underwriting Agreement:

 

Selling Shareholder    Number of Common Shares Sold  

Glory A

     3,596,840  

Glory B

     8,868,930  

Glory IV

     418,700  

Glory IV-B

     31,534  

Twickenham

     2,514,837  

The summary of the Underwriting Agreement contained in this Item 6 is qualified in its entirety by reference to the Underwriting Agreement, which is filed as an exhibit hereto and incorporated by reference herein.

Item 7. Material to be Filed as Exhibits.

Item 7 of the Schedule 13D is hereby amended and supplemented as follows:

 

Exhibit R    Underwriting Agreement, dated November 21, 2019, by and among the Issuer, the Selling Shareholders and the Underwriter (incorporated by reference to Exhibit 1.1 to the Issuer’s Current Report on Form 8-K filed with the Securities and Exchange Commission on November 25, 2019).


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: November 27, 2019

 

Glory Investments A Limited
By:  

/s/ Numesh Nunkoo

  Name: Numesh Nunkoo
  Title: Director
Glory Investments B Limited
By:  

/s/ Numesh Nunkoo

  Name: Numesh Nunkoo
  Title: Director
Glory Investments IV Limited
By:  

/s/ Numesh Nunkoo

  Name: Numesh Nunkoo
  Title: Director
Glory Investments IV-B Limited
By:  

/s/ Numesh Nunkoo

  Name: Numesh Nunkoo
  Title: Director

 

GIC Private Limited
By:  

/s/ Celine Loh Sze Ling

 

Name: Celine Loh Sze Ling

 

Title: Senior Vice President

By:  

/s/ Toh Tze Meng

  Name: Toh Tze Meng
 

Title: Senior Vice President

GIC Special Investments Pte. Ltd.
By:  

/s/ Chan Hoe Yin

 

Name: Chan Hoe Yin

 

Title: Director

Twickenham Investment Private Limited

By:  

/s/ Amit Kunal

 

Name: Amit Kunal

 

Title: Director


SCHEDULE A

Executive Officers, Directors and Control Persons of the Reporting Persons

The following are each of the directors of Glory Investments A Limited, Glory Investments B Limited, Glory Investments IV Limited and Glory Investments IV-B Limited:

 

   

Heerdaye Jugbandhan, Fellow of the Association of Chartered Certified Accountants – UK, member of Chartered Institute of Securities & Investment – UK, International Fiscal Association and Mauritius Institute of Directors, Bain Capital Mauritius, Suite 110, 10th Floor Ebene Heights Building, 34 Ebene Cybercity Ebene, Mauritius

 

   

Numesh Nunkoo, Member of the Association of Chartered Certified Accountants – UK, member of Chartered Institute of Securities & Investment – UK, Mauritius Institute of Professional Accountants, Bain Capital Mauritius, Suite 110, 10th Floor Ebene Heights Building, 34 Ebene Cybercity Ebene, Mauritius

 

   

James Henry Hildebrandt, Managing Director, Bain Capital, 51/F Cheung Kong Center, 2 Queen’s Road Central, Hong Kong

The following are each of the executive officers and directors of Twickenham Investment Private Limited and their respective address, occupation and citizenship:

 

Name

  

Address

  

Principal Occupation

  

Citizenship

Amit Kunal    168 Robinson Road #37-01 Capital Tower Singapore 068912    Senior Vice President, GIC Special Investments Private Limited    Singapore Citizen
Matthew Lim Oon Su    168 Robinson Road #37-01 Capital Tower Singapore 068912    Senior Vice President, GIC Special Investments Private Limited    Singapore Permanent Resident

The following are each of the executive officers and directors of GIC Special Investments Pte. Ltd. and their respective address, occupation and citizenship:

 

Name

  

Address

  

Principal Occupation

  

Citizenship

Dr Jeffrey Jaensubhakij    168 Robinson Road #37-01 Capital Tower Singapore 068912    Group Chief Investment Officer, GIC    Singapore Citizen
Chan Hoe Yin    168 Robinson Road #37-01 Capital Tower Singapore 068912    Director, Investment Services Private Markets & Finance, GIC    Singapore Citizen
Lim Chow Kiat    168 Robinson Road #37-01 Capital Tower Singapore 068912    Chief Executive Officer, GIC    Singapore Citizen
Deanna Ong Aun Nee    168 Robinson Road #37-01 Capital Tower Singapore 068912    Chief People Officer (HR), GIC    Singapore Citizen


The following are each of the executive officers and directors of GIC Private Limited and their respective address, occupation and citizenship:

 

Name

  

Address

  

Principal Occupation

  

Citizenship

Lee Hsien Loong   

Prime Minister’s Office

Istana Annexe

Singapore 238823

   Prime Minister    Singapore Citizen
Teo Chee Hean   

Ministry of Home Affairs

New Phoenix Park

28 Irrawaddy Road

Singapore 329560

  

Senior Minister &

Coordinating Minister for National Security

   Singapore Citizen
Tharman Shanmugaratnam   

Ministry of Finance

100 High Street

#10-01 The Treasury

Singapore 179434

   Senior Minister & Coordinating Minister for Social Policies    Singapore Citizen
Lim Hng Kiang   

Ministry of Trade & Industry

100 High Street

#10-01 The Treasury

Singapore 179434

   Special Advisor to Ministry of Trade & Industry    Singapore Citizen
Heng Swee Keat   

Ministry of Finance

100 High Street

#10-01 The Treasury

Singapore 179434

   Deputy Prime Minister and Minister for Finance    Singapore Citizen
Lawrence Wong   

5 Maxwell Road #21-00 & #22-00

Tower Block, MND Complex

Singapore 069110

   Minister for National Development and Second Minister for Finance    Singapore Citizen
Peter Seah Lim Huat   

12 Marina Boulevard

Marina Bay Financial Centre

Tower 3, Level 45

Singapore 018982

   Chairman, DBS Group Holdings Ltd    Singapore Citizen
Ang Kong Hua   

30 Hill Street #05-04

Singapore 179360

   Chairman, Sembcorp Industries Ltd    Singapore Citizen
Chew Choon Seng   

c/o 168 Robinson Road

#37-01 Capital Tower Singapore 068912

   Former Chairman, Singapore Exchange Ltd    Singapore Citizen


Hsieh Fu Hua   

National University of Singapore

University Hall

Lee Kong Chian Wing, UHL #06-01

21 Lower Kent Ridge Road

Singapore 119077

   Secretariat of the Board of Trustees    Singapore Citizen
Loh Boon Chye   

2 Shenton Way

#02-02 SGX Centre 1

Singapore 068804

   Chief Executive Officer, Singapore Exchange Ltd    Singapore Citizen
Gautam Banerjee   

Marina Bay Financial Centre Tower 2

Suite 13-01/02, Marina Boulevard

Singapore 018983

   Chairman, Blackstone Singapore    Singapore Citizen
S. Dhanabalan   

60B Orchard Road #06-18 Tower 2

The Atrium@Orchard

Singapore 238891

   Member, Council of Presidential Advisers    Singapore Citizen
Koh Boon Hwee   

c/o 03-13 Orchard Parade Hotel

1 Tanglin Road

Singapore 247905

   Chairman, Far East Orchard Limited    Singapore Citizen
Dr Tony Tan Keng Yam   

168 Robinson Road

#37-01

Capital Tower

Singapore 068912

   Special Advisor, GIC    Singapore Citizen
Seck Wai Kwong   

10 Marina Boulevard #32-01

Marina Bay Financial Centre Tower 2

Singapore 018983

   Chief Executive Officer, Asia Pacific Eastspring Investments (Singapore) Limited    Singapore Citizen
Lim Chow Kiat   

168 Robinson Road #37-01 Capital Tower

Singapore 068912

   Chief Executive Officer, GIC    Singapore Citizen
Dr Jeffrey Jaensubhakij   

168 Robinson Road #37-01 Capital Tower

Singapore 068912

   Group Chief Investment Officer, GIC    Singapore Citizen


INDEX TO EXHIBITS

 

Exhibit R    Underwriting Agreement, dated November 21, 2019, by and among the Issuer, the Selling Shareholders and the Underwriter (incorporated by reference to Exhibit 1.1 to the Issuer’s Current Report on Form 8-K filed with the Securities and Exchange Commission on November 25, 2019).