UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

 

SCHEDULE 13D

 

Under the Securities Exchange Act of 1934

 

 

 

Atara Biotherapeutics, Inc.

(Name of Issuer)

 

Common Stock, par value $0.0001 per share

(Title of Class of Securities)

 

046513107
(CUSIP Number)

 

Gregory A. Ciongoli

Adiumentum Capital Fund I LP

c/o Cadwalader, Wickersham & Taft LLP

200 Liberty Street

New York, NY 10281

(212) 504-6000

 

with a copy to

 

Richard M. Brand

Erica L. Hogan

Cadwalader, Wickersham & Taft LLP

200 Liberty Street

New York, NY 10281

(212) 504-6000

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

 

May 15, 2024

(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 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 (“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. 046513107   13D

 
  1.

Names of Reporting Persons

Adiumentum Capital Fund I LP

  2. Check the Appropriate Box if a Member of a Group (See Instructions)
    (a) x
    (b) o
  3. SEC Use Only
  4.

Source of Funds (See Instructions)

OO

  5. Check Box if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e) o
  6.

Citizenship or Place of Organization

Delaware

Number of

Shares

Beneficially

Owned by

Each

Reporting

Person With

7.

Sole Voting Power

0

8.

Shared Voting Power

8,065,923

9.

Sole Dispositive Power

0

10.

Shared Dispositive Power

8,065,923

  11.

Aggregate Amount Beneficially Owned by Each Reporting Person

8,065,923

  12. Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) o
  13.

Percent of Class Represented by Amount in Row (11)

6.7%*

  14.

Type of Reporting Person (See Instructions)

IA

           

* All percentage calculations set forth herein are based upon the aggregate of 120,416,138 Common Shares outstanding as of May 2, 2024, as reported in the Issuer’s Quarterly Report on Form 10-Q filed with the U.S. Securities and Exchange Commission (the “SEC”) on May 9, 2024.

 

-2-

 

 

CUSIP No. 046513107   13D

 
  1.

Names of Reporting Persons

Adiumentum Capital Fund I GP LLC

  2. Check the Appropriate Box if a Member of a Group (See Instructions)
    (a) x
    (b) o
  3. SEC Use Only
  4.

Source of Funds (See Instructions)

OO

  5. Check Box if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e) o
  6.

Citizenship or Place of Organization

Delaware

Number of

Shares

Beneficially

Owned by

Each

Reporting

Person With

7.

Sole Voting Power

0

8.

Shared Voting Power

8,065,923

9.

Sole Dispositive Power

0

10.

Shared Dispositive Power

8,065,923

  11.

Aggregate Amount Beneficially Owned by Each Reporting Person

8,065,923

  12. Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) o
  13.

Percent of Class Represented by Amount in Row (11)

6.7%*

  14.

Type of Reporting Person (See Instructions)

IA

           

* All percentage calculations set forth herein are based upon the aggregate of 120,416,138 Common Shares outstanding as of May 2, 2024, as reported in the Issuer’s Quarterly Report on Form 10-Q filed with the SEC on May 9, 2024.

 

-3-

 

 

CUSIP No. 046513107   13D

 
  1.

Names of Reporting Persons

Gregory A. Ciongoli

  2. Check the Appropriate Box if a Member of a Group (See Instructions)
    (a) x
    (b) o
  3. SEC Use Only
  4.

Source of Funds (See Instructions)

OO

  5. Check Box if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e) o
  6.

Citizenship or Place of Organization

United States

Number of

Shares

Beneficially

Owned by

Each

Reporting

Person With

7.

Sole Voting Power

0

8.

Shared Voting Power

8,065,923

9.

Sole Dispositive Power

0

10.

Shared Dispositive Power

8,065,923

  11.

Aggregate Amount Beneficially Owned by Each Reporting Person

8,065,923

  12. Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) o
  13.

Percent of Class Represented by Amount in Row (11)

6.7%*

  14.

Type of Reporting Person (See Instructions)

IN

           

* All percentage calculations set forth herein are based upon the aggregate of 120,416,138 Common Shares outstanding as of May 2, 2024, as reported in the Issuer’s Quarterly Report on Form 10-Q filed with the SEC on May 9, 2024.

 

-4-

 

 

Item 1. Security and Issuer.
   

This statement on Schedule 13D (this “Schedule 13D”) relates to the common stock, par value $0.0001 per share (the “Common Stock”), of Atara Biotherapeutics, Inc., a Delaware corporation (the “Issuer”) having its principal executive offices at 2380 Conejo Spectrum Street, Suite 200, Thousand Oaks, California 91320.

 

The Reporting Persons (as defined below) each beneficially owns an aggregate of 8,065,923 shares of Common Stock. These shares represent approximately 6.7% of the outstanding shares of Common Stock.

 

Item 2. Identity and Background.

 

(a), (f) This Schedule 13D is being filed by:

 

(i)Adiumentum Capital Fund I LP, a Delaware limited partnership (“Adiumentum”);

 

(ii)Adiumentum Capital Fund I GP LLC, a Delaware limited liability company (“Adiumentum GP”); and

 

(iii)Gregory A. Ciongoli, a citizen of the United States of America (together with Adiumentum and Adiumentum GP, the “Reporting Persons”).

 

The Reporting Persons have entered into a joint filing agreement, dated as of May 22, 2024, a copy of which is attached hereto as Exhibit 99.1.

 

(b) The address of the principal business and office of each of the Reporting Persons is c/o Cadwalader, Wickersham & Taft LLP, 200 Liberty Street, New York, New York 10281.

 

(c) Adiumentum’s principle business is to make investments in securities.

 

Adiumentum GP’s principal business is to serve as the general partner of Adiumentum.

 

Mr. Ciongoli’s principal occupation is to serve as the managing partner of Adiumentum, and as the managing member of Adiumentum GP.

 

(d), (e) During the last five years, none of the Reporting Persons (i) has been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors) or (ii) was a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violations with respect to such laws.

 

-5-

 

 

Item 3. Source and Amount of Funds or Other Consideration.

 

The responses to Item 4, 5 and 6 of this Schedule 13D are incorporated herein by reference.

 

The investment costs (including commissions, if any) of the Common Stock directly owned by Adiumentum is approximately $5,643,549.82. The source of funding for such transactions was derived from the capital of Adiumentum.

 

Item 4. Purpose of Transaction.

 

The Reporting Persons acquired beneficial ownership of the shares of Common Stock over which they exercise beneficial ownership in the belief that the Common Stock was undervalued and an attractive investment opportunity.

 

The Reporting Persons intend to engage in conversations, meetings and other communications with certain members of the Issuer’s board of directors and management team, stockholders, industry analysts, and other interested parties, in each case to discuss the Issuer’s business, operations, financial condition, strategic plans and governance.

 

The Reporting Persons may take or engage in various plans, actions or transactions in seeking to bring about changes to increase stockholder value, and may discuss such plans, actions or transactions with the Issuer and the board of directors and management team of the Issuer, stockholders, industry analysts, and other interested parties. The Reporting Persons may change their intentions with respect to any and all matters referred to in Item 4 of Schedule 13D, and may also take steps to explore and prepare for various plans and actions, and propose transactions, before forming an intention to engage in such plans or actions or proceed with such plans, actions or transactions.

 

The Reporting Persons intend to review their investments in the Issuer on a continuing basis. Depending on various factors, including, without limitation, the outcome of any discussions referenced above, the Issuer’s financial position and strategic direction, actions taken by the Issuer’s management and board of directors, price levels of the Common Stock, other investment opportunities available to the Reporting Persons, conditions in the securities markets and general economic and industry conditions, the Reporting Persons may from time to time and at any time in the future take or engage in various plans, actions or transactions with respect to the investment in the Issuer as they deem appropriate, including, without limitation, purchasing additional shares of Common Stock, disposing of shares of Common Stock, acquiring other financial instruments that are based upon or relate to the value of the Common Stock, selling or obtaining financing on some or all of their beneficial or economic holdings, and engaging in hedging or similar transactions with respect to securities that are based upon or relate to the value of the Common Stock.

 

-6-

 

 

Item 5. Interest in Securities of the Issuer.

 

(a), (b) The Reporting Persons each beneficially owns an aggregate of 8,065,923 shares of Common Stock (the “Subject Shares”). The Subject Shares represent approximately 6.7% of the outstanding shares of Common Stock, based on 120,416,138 shares of Common Stock outstanding as of May 2, 2024, as reported in the Issuer’s Quarterly Report on Form 10-Q filed with the SEC on May 9, 2024.

 

Adiumentum may be deemed to have the shared power to vote or direct the vote of (and the shared power to dispose or direct the disposition of) all of the Subject Shares. Adiumentum GP, as the general partner of Adiumentum may be deemed to have the shared power to vote or direct the vote of (and the shared power to dispose or direct the disposition of) all the Subject Shares. Mr. Ciongoli, as the managing partner of Adiumentum, and as the managing member of Adiumentum GP, may be deemed to have the shared power to vote or direct the vote of (and the shared power to dispose or direct the disposition of) all the Subject Shares.

 

(c) Exhibit 99.2 filed herewith, which is incorporated herein by reference, describes the transactions in the Common Stock that were effected by the Reporting Persons during the past sixty days.

 

(d) The Reporting Persons have the right to receive dividends from, and the proceeds from the sale of, the Subject Shares. No other person is known to the Reporting Persons to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the Subject Shares.

 

(e) Not applicable.

 

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

 

The Reporting Persons may, from time to time, enter into and dispose of swaps, options or other derivative transactions with one or more counterparties that are based upon the value of shares of the Common Stock, which transactions may be significant in amount. The profit, loss and/or return on such contracts may be wholly or partially dependent on the market value of the shares of the Common Stock.

 

On May 22, 2024, the Reporting Persons entered into a Joint Filing Agreement in which the Reporting Persons agreed to the joint filing on behalf of each of them of statements on Schedule 13D with respect to the securities of the Issuer to the extent required by applicable law. The Joint Filing Agreement is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

 

Except as disclosed in this Schedule 13D, there are no contracts, arrangements, understandings or relationships (legal or otherwise) among the Reporting Persons (or to the knowledge of the Reporting Persons, any other person referred to in Item 2) and between the Reporting Persons (or to the knowledge of the Reporting Persons, any other person referred to in Item 2) and any other person with respect to any securities of the Issuer.

 

Item 7. Material to be Filed as Exhibits.

 

Exhibit 99.1 Joint Filing Agreement, dated May 22, 2024, among the Reporting Persons.
Exhibit 99.2 Trading Data

 

-7-

 

 

SIGNATURES

 

After reasonable inquiry and to the best of my knowledge and belief, the undersigned certifies that the information set forth in this statement is true, complete and correct.

 

Date: May 22, 2024 ADIUMENTUM CAPITAL FUND I LP
   
  By: Adiumentum Capital Fund I GP LLC, its general partner

 

  By: /s/ Gregory A. Ciongoli
    Name: Gregory A. Ciongoli
    Title: Managing Member

   
Date: May 22, 2024 ADIUMENTUM CAPITAL FUND I GP LLC
   
  By: /s/ Gregory A. Ciongoli
    Name: Gregory A. Ciongoli
    Title: Managing Member
   
Date: May 22, 2024 GREGORY A. CIONGOLI
   
  By: /s/ Gregory A. Ciongoli    
    Gregory A. Ciongoli

 

-8-

 

Exhibit 99.1

 

AGREEMENT

JOINT FILING OF SCHEDULE 13D

 

The undersigned hereby agree to jointly prepare and file with regulatory authorities this Schedule 13D and any future amendments thereto reporting each of the undersigned’s ownership of securities of Atara Biotherapeutics, Inc., and hereby affirm that such Schedule 13D is being filed on behalf of each of the undersigned pursuant to and in accordance with the provisions of Rule 13d-1(k) under the Securities Exchange Act of 1934. 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 other, except to the extent that he or it knows or has reason to believe that such information is inaccurate.

 

Date: May 22, 2024 ADIUMENTUM CAPITAL FUND I LP
   
  By: Adiumentum Capital Fund I GP LLC, its general partner

 

  By: /s/ Gregory A. Ciongoli
    Name: Gregory A. Ciongoli
    Title: Managing Member

 

Date: May 22, 2024 ADIUMENTUM CAPITAL FUND I GP LLC
   
  By: /s/ Gregory A. Ciongoli
    Name: Gregory A. Ciongoli
    Title: Managing Member
   
Date: May 22, 2024 GREGORY A. CIONGOLI
   
  By: /s/ Gregory A. Ciongoli    
    Gregory A. Ciongoli

 

 

 

 

Exhibit 99.2

 

TRADING DATA

 

The following table sets forth all transactions with respect to shares of Common Stock effected in the last sixty days by the Reporting Persons on behalf of the Reporting Persons in respect of the shares of Common Stock, inclusive of any transactions effected prior to the filing hereof. Except as otherwise indicated, all such transactions were purchases or sales of shares of Common Stock effected in the open market, and the table includes commissions paid in per share of Common Stock prices.

 

Trade Date Buy/Sell Quantity Cost Value
(USD)
Price ($)(1)
05/22/2024 Buy 6,366 4,301.98 0.67
05/21/2024 Buy 224,157 158,892.82 0.71
05/21/2024 Buy 175,843 122,905.46 0.70
05/21/2024 Buy 244,007 172,234.27 0.71
05/21/2024 Buy 131,363 92,956.83 0.71
05/20/2024 Buy 71,331 45,526.79 0.64
05/20/2024 Buy 10,260 6,239.45 0.61
05/20/2024 Buy 90,535 62,337.87 0.69
05/20/2024 Buy 84,531 60,026.01 0.71
05/17/2024 Buy 218,981 134,423.83 0.61
05/17/2024 Buy 68,857 41,988.99 0.61
05/17/2024 Buy 258,515 160,804.94 0.62
05/16/2024 Buy 71,655 45,086.55 0.63
05/16/2024 Buy 13,638 8,192.80 0.60
05/16/2024 Buy 145,330 91,039.55 0.63
05/15/2024 Buy 61,993 38,431.33 0.62
05/15/2024 Buy 73,939 48,515.07 0.66
05/15/2024 Buy 108,582 69,582.96 0.64
05/14/2024 Buy 37,210 22,351.84 0.60
05/14/2024 Buy 7,525 4,291.01 0.57
05/01/2024 Buy 132,902 99,314.80 0.75
05/01/2024 Buy 40,693 30,086.84 0.74
04/30/2024 Buy 53,114 38,164.87 0.72
04/30/2024 Buy 83,295 59,578.35 0.71
04/29/2024 Buy 7,804 5,537.47 0.71
04/29/2024 Buy 61,169 42,084.27 0.69
04/29/2024 Buy 50,000 34,550.00 0.69
04/29/2024 Buy 22,263 16,033.81 0.72
04/26/2024 Buy 144,795 101,203.22 0.70
04/26/2024 Buy 10,046 7,042.24 0.70
04/26/2024 Buy 35,926 24,817.68 0.69
04/25/2024 Buy 200,923 138,462.03 0.69
04/25/2024 Buy 100,000 69,680.00 0.70
04/25/2024 Buy 5,042 3,358.47 0.67
04/25/2024 Buy 79,777 54,935.75 0.69
04/24/2024 Buy 106,593 77,520.43 0.73
04/24/2024 Buy 107,260 75,875.72 0.71
04/24/2024 Buy 77,161 55,903.14 0.72
04/23/2024 Buy 46,881 33,272.76 0.71
04/23/2024 Buy 74,212 52,260.08 0.70
04/23/2024 Buy 190,186 136,857.84 0.72

 

 

 

04/22/2024 Buy 78,111 54,675.89 0.70
04/22/2024 Buy 167,083 115,855.35 0.69
04/22/2024 Buy 113,028 78,757.90 0.70
04/19/2024 Buy 250,000 166,031.00 0.66
04/19/2024 Buy 114,961 74,195.83 0.64
04/19/2024 Buy 177,456 123,118.97 0.69
04/18/2024 Buy 250,000 180,606.00 0.72
04/18/2024 Buy 29,483 20,758.97 0.70
04/17/2024 Buy 199,179 142,578.33 0.72
04/17/2024 Buy 118,712 86,920.93 0.72
04/16/2024 Buy 1,017 736.76 0.69
04/16/2024 Buy 204,679 146,058.93 0.71
04/16/2024 Buy 248,983 172,620.73 0.69
04/15/2024 Buy 10,000 6,580.00 0.66
04/15/2024 Buy 250,000 169,825.00 0.68
04/15/2024 Buy 240,000 160,880.00 0.67
04/15/2024 Buy 119,487 82,876.17 0.69
04/12/2024 Buy 250,000 180,831.00 0.72
04/12/2024 Buy 187,218 135,957.71 0.73
04/11/2024 Buy 58,615 43,304.90 0.74
04/10/2024 Buy 54,854 39,548.87 0.72
04/10/2024 Buy 40,253 28,808.06 0.71
04/10/2024 Buy 41,413 29,811.61 0.72
04/09/2024 Buy 62,926 47,385.07 0.75
04/09/2024 Buy 40,594 31,103.12 0.77
04/09/2024 Buy 4,987 3,862.93 0.76
04/08/2024 Buy 1 0.80 0.78
04/08/2024 Buy 250,000 197,106.00 0.79
04/08/2024 Buy 29,940 23,167.57 0.77
04/05/2024 Buy 89,914 70,597.48 0.78
04/04/2024 Buy 147,414 116,020.82 0.79
04/03/2024 Buy 14,898 10,730.01 0.72
04/03/2024 Buy 73,499 53,676.59 0.73
04/03/2024 Buy 10,980 8,040.65 0.71
04/03/2024 Buy 25,458 18,193.56 0.71
04/02/2024 Buy 7,899 5,614.29 0.70
04/02/2024 Buy 19,336 14,254.50 0.73
04/02/2024 Buy 98,885 71,938.84 0.72
04/01/2024 Buy 53,024 38,066.62 0.72
04/01/2024 Buy 196,976 145,781.94 0.72

 

(1) Prices rounded to the nearest cent.

 

 

 


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