STOCK TITAN

LightInTheBox (LITB) CEO He Jian lifts holding to 24.1% after US$1.09M PIPE

(Moderate)
(Neutral)
Form Type
SCHEDULE 13D/A

Rhea-AI Filing Summary

LightInTheBox Holding Co., Ltd. received additional equity investment from Conner Growth Holding Limited, an entity wholly owned by CEO and chairman He Jian, through a private investment in public equity (PIPE). On July 10, 2026, Conner Growth agreed to purchase 4,254,553 ordinary shares at US$0.2566667 per share (US$3.08 per ADS, with each ADS representing twelve ordinary shares), for an aggregate of approximately US$1,092,003. The PIPE closed on August 10, 2026.

Following this transaction, He Jian is deemed to beneficially own 56,724,977 ordinary shares, or about 24.1% of LightInTheBox’s outstanding ordinary shares, including holdings through Conner Growth and ADSs. This ownership percentage is based on 235,371,506 ordinary shares outstanding after giving effect to a broader private placement completed on August 10, 2026.

Positive

  • None.

Negative

  • None.

Filing Explained

The completed investment is now reported in a 13D/A; resale registration remains an agreed future filing step.

This Schedule 13D/A places the completed PIPE in the beneficial-ownership report: He Jian, through Conner Growth and personally, reports sole voting and dispositive power over 56,724,977 ordinary shares, equal to 24.1%.

Schedules 13D and 13G disclose ownership above 5%; this amendment identifies He Jian as Conner Growth's sole beneficial owner and director, so the filing presents the entities' holdings together through beneficial-ownership attribution.

The company has agreed to file a registration statement for resale of the subscribed shares. That is a future registration obligation; this filing establishes the commitment, not a completed resale.

PIPE shares purchased by Conner Growth 4,254,553 ordinary shares Subscribed Shares acquired in private placement consummated on August 10, 2026
PIPE purchase price per share US$0.2566667 per Ordinary Share Equivalent to US$3.08 per ADS in the July 10, 2026 Subscription Agreement
Aggregate PIPE purchase price approximately US$1,092,003 Total consideration paid by Conner Growth for the Subscribed Shares
He Jian beneficial ownership 56,724,977 Ordinary Shares Beneficially held through Conner Growth and ADSs as of August 10, 2026
He Jian ownership percentage 24.1% Portion of total outstanding ordinary shares after August 10, 2026 private placement
Conner Growth holdings 52,958,777 Ordinary Shares Sole voting and dispositive power reported on Schedule 13D/A
Shares outstanding baseline 213,974,097 ordinary shares Outstanding as of June 30, 2026, prior to August 10, 2026 private placement
Additional private placement shares 21,397,409 ordinary shares Issued pursuant to subscription agreements with certain investors on August 10, 2026
American depository share financial
"Twelve Ordinary Shares of the Issuer are represented by one American depository share (the "ADS")."
An American Depository Share is a U.S.-listed certificate that represents one or more ordinary shares of a foreign company, letting that company's stock trade on U.S. exchanges without buying the shares directly overseas. For investors it matters because it makes foreign companies easier to buy and sell, settles and pays dividends in U.S. dollars, and subjects the listing to familiar U.S. trading rules — think of it as a U.S. receipt that stands in for a foreign stock.
private placement financial
"Conner Growth agreed to purchase 4,254,553 Ordinary Shares ... in a private placement (the "PIPE")."
A private placement is a sale of securities directly to a selected group of investors, typically institutions or accredited investors, instead of through a public offering. It lets a company raise money faster and with fewer regulatory steps; for existing shareholders it matters because the newly issued shares, often sold at a discount, increase the share count and can dilute their ownership.
Subscription Agreement financial
"Conner Growth entered into a subscription agreement (the "Subscription Agreement") with the Issuer."
A subscription agreement is a legal contract in which an investor agrees to buy a specific number of a company’s shares or other securities under set terms, including price, payment method and conditions for closing the sale. It matters to investors because it legally locks in their purchase and the company’s obligations, determines ownership percentage and any investor rights, and can include conditions or promises that affect future control or returns—like signing a detailed purchase order for equity.
PIPE financial
"4,254,553 Ordinary Shares of the Issuer ... in a private placement (the "PIPE")."
A PIPE (private investment in public equity) is a deal in which institutional or accredited investors buy shares or convertible securities directly from a publicly traded company, usually at a discount to the market price. Companies use PIPEs to raise money faster than through a traditional public offering; for existing shareholders they matter because the newly issued shares add to the share count and can dilute ownership.
beneficially own financial
"Accordingly, He Jian may be deemed to beneficially own 56,724,977 Ordinary Shares."
Beneficially own means having the economic rights and risks of a security—such as the right to receive dividends, sell the shares, or profit from price changes—whether or not your name appears on the official share register. Think of it like renting a car: you use it and reap the benefits even if the title lists someone else. Investors care because beneficial ownership determines who truly controls value, must be disclosed under securities rules, and can signal potential influence or trading activity that affects a stock’s price.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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FAQ

What did Conner Growth Holding Limited invest in LightInTheBox (LITB)?

Conner Growth Holding Limited purchased 4,254,553 ordinary shares of LightInTheBox in a PIPE at US$0.2566667 per share, totaling about US$1,092,003, with pricing equivalent to US$3.08 per ADS.

What is He Jian’s ownership stake in LightInTheBox (LITB) after the PIPE?

He Jian beneficially owns 56,724,977 ordinary shares of LightInTheBox, representing approximately 24.1% of the company’s outstanding ordinary shares, including shares held through Conner Growth and additional ADS holdings.

How many LightInTheBox shares does Conner Growth Holding Limited own?

Conner Growth Holding Limited has 52,958,777 ordinary shares under sole voting and dispositive power, including 4,058,685 ADSs (48,704,224 ordinary shares) plus 4,254,553 ordinary shares acquired in the August 10, 2026 PIPE.

What share count did LightInTheBox (LITB) use to calculate ownership percentages?

Ownership percentages are based on 213,974,097 ordinary shares outstanding as of June 30, 2026, plus 21,397,409 ordinary shares issued in an August 10, 2026 private placement, totaling 235,371,506 ordinary shares.

Will the new LightInTheBox PIPE shares held by Conner Growth be registered for resale?

Under the Subscription Agreement, LightInTheBox agreed to file a registration statement covering the 4,254,553 Subscribed Shares acquired by Conner Growth, enabling potential future resales of those securities.

What is the ADS to ordinary share ratio for LightInTheBox (LITB)?

Each LightInTheBox American depository share (ADS) represents twelve ordinary shares. Pricing in the PIPE was US$0.2566667 per ordinary share, equivalent to US$3.08 per ADS based on that 12:1 ratio.





53225G102

(CUSIP Number)
He Jian
4 Pandan Crescent, #03-03
Singapore, U0, 128475
65 6305 9667

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)
08/10/2026

(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 §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.

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).




schemaVersion:


SCHEDULE 13D




Comment for Type of Reporting Person:
Note to Row (7), (9) and (11): Including (a) 4,058,685 ADSs, representing 48,704,224 ordinary shares, and (b) 4,254,553 ordinary shares. Note to Row (13): The calculation of this percentage is based on 213,974,097 ordinary shares of the Issuer, par value US$0.000067 per share, outstanding as of June 30, 2026, as informed by the Issuer, plus 21,397,409 ordinary shares issued in a private placement pursuant to subscription agreements with certain investors on August 10, 2026.


SCHEDULE 13D




Comment for Type of Reporting Person:
Note to Row (7), (9) and (11): Including (a) 4,254,553 ordinary shares and 4,058,685 ADSs, representing 48,704,224 ordinary shares held by Conner Growth Holding Limited, and (b) 313,850 ADSs, representing 3,766,200 ordinary shares held by He Jian. Note to Row (13): The calculation of this percentage is based on 213,974,097 ordinary shares of the Issuer, par value US$0.000067 per share, outstanding as of June 30, 2026, as informed by the Issuer, plus 21,397,409 ordinary shares issued in a private placement pursuant to subscription agreements with certain investors on August 10, 2026.


SCHEDULE 13D


Conner Growth Holding Limited
Signature:/s/ He Jian
Name/Title:He Jian, Director
Date:08/11/2026
He Jian
Signature:/s/ He Jian
Name/Title:He Jian
Date:08/11/2026