General Atlantic funds report 24M Liftoff Mobile (LFTO) shares after IPO conversion
Filing Impact
Filing Sentiment
Form Type
3
Rhea-AI Filing Summary
Liftoff Mobile, Inc. has filed an initial ownership report showing that investment vehicles affiliated with General Atlantic collectively hold 24,011,299 shares of Common Stock indirectly. These shares are held of record by General Atlantic (LFT), L.P. after conversion of 425,000 shares of Series A Redeemable Convertible Preferred Stock in connection with the company’s initial public offering.
The filing explains a layered fund structure in which multiple General Atlantic funds share beneficial ownership of the shares, with various general partners and managing entities exercising control. Members of the GA Partnership Committee disclaim ownership of the shares except to the extent of their pecuniary interest.
Positive
- None.
Negative
- None.
Insider Trade Summary
1 transaction reported
Mixed
1 txn
Insider
GENERAL ATLANTIC GENPAR, L.P., General Atlantic GenPar (Lux) SCSp, General Atlantic (Lux) S.a r.l., GENERAL ATLANTIC, L.P.
Role
null | null | null | null
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| holding | Common Stock, par value $0.0001 per share ("Common Stock") | -- | -- | -- |
Holdings After Transaction:
Common Stock, par value $0.0001 per share ("Common Stock") — 24,011,299 shares (Indirect, See footnote)
Footnotes (1)
- Consists of 24,011,299 shares held by General Atlantic (LFT), L.P. ("GA LFT") that were acquired upon the conversion of 425,000 shares of Series A Redeemable Convertible Preferred Stock of the Issuer in connection with the Issuer's initial public offering. The following investment funds share beneficial ownership of the common shares held of record by GA LFT (collectively, the "GA Funds"): General Atlantic Partners 100, L.P. ("GAP 100"), General Atlantic Partners (Lux) SCSp ("GAP Lux"), GAP Coinvestments III, LLC ("GAPCO III"), GAP Coinvestments IV, LLC ("GAPCO IV"), GAP Coinvestments V, LLC ("GAPCO V") and GAP Coinvestments CDA, L.P. ("GAPCO CDA"). (Cont'd in FN3) (Cont'd from FN2) General Atlantic (SPV) GP, LLC ("GA SPV") is the general partner of GA LFT. General Atlantic, L.P. ("GA LP") is the sole member of GA SPV. The general partner of GAP Lux is General Atlantic GenPar (Lux) SCSp ("GA GenPar Lux"), and the general partner of GA GenPar Lux is General Atlantic (Lux) S.a. r.l. ("GA Lux"). The sole shareholder of GA Lux is General Atlantic GenPar (Bermuda), L.P. ("GenPar Bermuda"). (Cont'd in FN4) (Cont'd from F3) GA LP, which is controlled by the Partnership Committee of GASC MGP, LLC (the "GA Partnership Committee"), is the managing member of GAPCO III, GAPCO IV, and GAPCO V and the general partner of GAPCO CDA. GAP (Bermuda) LP ("GAP Bermuda"), which is also controlled by the Partnership Committee, is the general partner of GenPar Bermuda. The general partner of GAP 100 is General Atlantic GenPar, L.P. ("GA GenPar"), and the general partner of GA GenPar is GA LP. There are six members of the GA Partnership Committee. Each of the members of the GA Partnership Committee disclaims ownership of the shares except to the extent that he has a pecuniary interest therein.
Key Figures
Common shares beneficially owned: 24,011,299 shares
Preferred shares converted: 425,000 shares
2 metrics
Common shares beneficially owned
24,011,299 shares
Indirectly held by General Atlantic (LFT), L.P.
Preferred shares converted
425,000 shares
Series A Redeemable Convertible Preferred Stock converted at IPO
Key Terms
beneficial ownership, Series A Redeemable Convertible Preferred Stock, initial public offering, pecuniary interest
4 terms
beneficial ownership financial
"The following investment funds share beneficial ownership of the common shares held of record by GA LFT"
Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.
Series A Redeemable Convertible Preferred Stock financial
"acquired upon the conversion of 425,000 shares of Series A Redeemable Convertible Preferred Stock of the Issuer"
initial public offering financial
"in connection with the Issuer's initial public offering"
An initial public offering (IPO) is when a private company first sells its shares to the public and becomes a stock-listed company. It matters because it allows the company to raise money from a wide range of investors, helping it grow, while giving early shareholders a way to sell some of their ownership.
pecuniary interest financial
"disclaims ownership of the shares except to the extent that he has a pecuniary interest therein"
FAQ
What does General Atlantic’s Form 3 filing show for Liftoff Mobile (LFTO)?
The filing shows General Atlantic-affiliated funds indirectly holding 24,011,299 shares of Liftoff Mobile Common Stock. These shares are reported as beneficially owned through a layered fund and general partner structure tied to General Atlantic investment vehicles.
Why is General Atlantic reported as a ten percent owner of Liftoff Mobile (LFTO)?
General Atlantic-affiliated entities report 24,011,299 Common shares as beneficially owned, making them a significant shareholder. As a result, the reporting entities are identified as directors and ten percent owners of Liftoff Mobile in this Form 3.