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<TITLE>Form 8-K</TITLE>
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<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 1pt solid black; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="font-size: 14pt; margin-top: 12pt"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION</B>
</DIV>

<DIV align="center" style="font-size: 12pt"><B>Washington, D.C. 20549</B>
</DIV>

<DIV align="center" style="font-size: 18pt; margin-top: 12pt"><B>FORM 8-K</B>
</DIV>

<DIV align="center" style="font-size: 12pt; margin-top: 12pt"><B>CURRENT REPORT<BR>
Pursuant to Section&nbsp;13 OR 15(d) of The Securities Exchange Act of 1934</B>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>Date of Report (Date of earliest event reported): March 13, 2009</B></DIV>

<DIV align="center" style="font-size: 24pt; margin-top: 12pt"><B>LendingClub Corporation</B>
</DIV>

<DIV align="center" style="font-size: 10pt">(Exact name of registrant as specified in its charter)</DIV>

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<TD nowrap align="center" valign="top"><B>Delaware
</B></TD>
<TD>&nbsp;</TD>
<TD align="center" valign="top"><B>333-151827
</B></TD>
<TD>&nbsp;</TD>
<TD align="center" valign="top"><B>51-0605731</B></TD>
</TR>
<TR style="font-size: 1px">
<TD valign="top" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
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<TR valign="bottom">
<TD align="center" valign="top">(State or other jurisdiction<BR>
of incorporation)
</TD>
<TD>&nbsp;</TD>
<TD align="center" valign="top">(Commission File Number)
</TD>
<TD>&nbsp;</TD>
<TD align="center" valign="top">(IRS Employer Identification No.)</TD>
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<TD align="center" valign="top"><B><BR>
440 North Wolfe Road, Sunnyvale, California
</B></TD>
<TD>&nbsp;</TD>
<TD align="center" valign="top"><B>&nbsp;<BR>94085</B></TD>
</TR>
<TR style="font-size: 1px">
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<TD valign="top" align="left">&nbsp;</TD>
<TD valign="top" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
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<TD align="center" valign="top">(Address of principal executive offices)
</TD>
<TD>&nbsp;</TD>
<TD align="center" valign="top">(Zip Code)</TD>
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</TABLE>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt">Registrant&#146;s telephone number, including area code: <B>(408) 524-1540</B></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>Not applicable.</B></DIV>

<DIV align="center" style="font-size: 10pt"><FONT style="border-top: 1px solid #000000">(Former name or former address, if changed since last report.)</FONT></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: </DIV>

<DIV style="margin-top: 6pt">
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<TD width="3%" nowrap align="left"><FONT face="wingdings" size="2">&#111;</FONT></TD>
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<TD>Written communications pursuant to Rule&nbsp;425 under the Securities Act (17 CFR 230.425)</TD>
</TR>

<TR>
<TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
<TD width="3%" nowrap align="left"><FONT face="wingdings" size="2">&#111;</FONT></TD>
<TD width="1%">&nbsp;</TD>
<TD>Soliciting material pursuant to Rule&nbsp;14a-12 under the Exchange Act (17 CFR 240.14a-12)</TD>
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<TR>
<TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
<TD width="3%" nowrap align="left"><FONT face="wingdings" size="2">&#111;</FONT></TD>
<TD width="1%">&nbsp;</TD>
<TD>Pre-commencement communications pursuant to Rule&nbsp;14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</TD>
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<TD width="1%">&nbsp;</TD>
<TD>Pre-commencement communications pursuant to Rule&nbsp;13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</TD>
</TR>

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</DIV>

<DIV style="width: 100%; border-bottom: 1pt solid black; margin-top: 10pt; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>


<P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
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<DIV align="left" style="font-size: 10pt; margin-top: 10pt"><B>Item&nbsp;1.01 Entry into a Material Definitive Agreement.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">On March&nbsp;13, 2009, LendingClub Corporation (&#147;<B><I>LendingClub</I></B>&#148;) sold 16,036,346 shares of its
Series&nbsp;B Preferred Stock, par value $0.01 per share (&#147;<B><I>Shares</I></B>&#148;) for aggregate gross proceeds to
LendingClub of approximately $12.0&nbsp;million (&#147;<B><I>Series&nbsp;B Financing</I></B>&#148;), pursuant to a Series&nbsp;B Preferred
Stock Purchase Agreement dated March&nbsp;13, 2009 (&#147;<B><I>Purchase Agreement</I></B>&#148;). LendingClub sold the Shares
pursuant to an exemption from registration provided by Rule&nbsp;506 of Regulation&nbsp;D promulgated under
the Securities Act of 1933; all investors in the Series&nbsp;B Financing were &#147;accredited investors&#148; (as
defined under Rule&nbsp;501 of Regulation&nbsp;D) and LendingClub made no general solicitation for the sale
of the Shares. The Shares are convertible into shares of LendingClub common stock, par value $0.01
per share, on a one-for-one basis, as adjusted from time to time pursuant to the anti-dilution
provisions of the LendingClub certificate of incorporation.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">In connection with the Series&nbsp;B Financing, LendingClub also entered into an Amended and
Restated Investor Rights Agreement dated March&nbsp;13, 2009 (&#147;<B><I>Rights Agreement</I></B>&#148;) pursuant to which the
Company granted the Series&nbsp;B Financing investors customary registration rights, information rights
and rights of first refusal to future issuances of LendingClub&#146;s securities. LendingClub also
entered into an Amended and Restated Voting Agreement dated March&nbsp;13, 2009 (&#147;<B><I>Voting Agreement</I></B>&#148;)
pursuant to which the investors and other stockholders of LendingClub agreed to vote their
respective shares of LendingClub capital stock in agreed upon manners regarding the voting for
members of the LendingClub Board of Directors and the approval of a sale of LendingClub. Finally,
LendingClub, Renaud Laplanche and holders of shares of LendingClub preferred stock entered into an
Amended and Restated Right of First Refusal and Co-Sale Agreement dated March&nbsp;13, 2009 (&#147;<B><I>Co-Sale
Agreement</I></B>&#148;) pursuant to which Mr.&nbsp;Laplanche, if he wishes to sell shares of LendingClub common
stock to a third party, must first offer such shares to the Company and holders of preferred stock
that are parties the Co-Sale Agreement, and in some circumstances, the preferred stockholders have
the right to sell their shares of preferred stock to the third party.
The description in this report of the terms of the Series B
Financing, including the terms of the Purchase Agreement,
Rights Agreement, Voting Agreement and Co-Sale Agreement is qualified
in its entirety by the following exhibits filed with this report: the
Purchase Agreement, Rights Agreement, Voting Agreement and Co-Sale
Agreement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">Canaan Partners VII LLC (&#147;<B><I>Canaan</I></B>&#148;) and Norwest Venture Partners X, LP (&#147;<B><I>NVP</I></B>&#148;) purchased Shares
in the Series&nbsp;B Financing. Daniel Ciporin a Member/Manager of Canaan and Jeffrey Crowe, a General
Partner of NVP are members of the LendingClub Board of Directors.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt"><B>Item&nbsp;3.02 Unregistered Sales of Equity Securities.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">The information set forth in the first paragraph of Item&nbsp;1.01 is hereby incorporated by
reference. No underwriting discounts or commissions were paid in connection with the Series&nbsp;B
Financing.
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 10pt"><B>Item&nbsp;5.02.
Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain
Officers.</B>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">In
connection with the Series B Financing, and in accordance with the
terms of the Voting Agreement, Rebecca Lynn, a Principal of
Morgenthaler Ventures IX, L.P., was appointed as a member of the
LendingClub Board of Directors on March 13, 2009.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt"><B>Item&nbsp;8.01 Other Information.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">In
connection with its March&nbsp;13, 2009 sale of Series&nbsp;B
Preferred Stock, LendingClub amended and
restated its certificate of incorporation, to reflect the rights, preferences and privileges of the
Series&nbsp;B Preferred Stock, increase the number of authorized shares of common stock, and decrease
the authorized number of Series&nbsp;A Preferred Stock. The
description in this report of the amended and restarted certificate
of incorporation is qualified in its entirety by the Amended and Restated Certificate of
Incorporation, dated March&nbsp;12, 2009, filed as an exhibit to this report.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt"><B>Item&nbsp;9.01 Financial Statements and Exhibits.</B>
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 10pt; margin-left: 4%">(d)&nbsp;Exhibits
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
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    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="77%">&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>Exhibit No.</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" style="border-bottom: 1px solid #000000"><B>Description</B></TD>
</TR>

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    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">3.1</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Amended and Restated Certificate of Incorporation, dated March&nbsp;12, 2009</DIV></TD>
</TR>
<TR valign="bottom" style="padding-top: 1px"><!-- Blank Space -->
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">99.1</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Series&nbsp;B Preferred Stock Purchase Agreement, dated March&nbsp;13, 2009</DIV></TD>
</TR>
<TR valign="bottom" style="padding-top: 1px"><!-- Blank Space -->
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">99.2</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Amended and Restated Investor Rights Agreement, dated March&nbsp;13, 2009</DIV></TD>
</TR>
<TR valign="bottom" style="padding-top: 1px"><!-- Blank Space -->
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">99.3</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Amended and Restated Voting Agreement, dated March&nbsp;13, 2009</DIV></TD>
</TR>
<TR valign="bottom" style="padding-top: 1px"><!-- Blank Space -->
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">99.4</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Amended and Restated Right of First Refusal and Co-Sale Agreement, dated March&nbsp;13, 2009</DIV></TD>
</TR>
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</DIV>

<P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->

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<DIV style="font-family: 'Times New Roman',Times,serif; margin-left: .25in; width: 7.20in">

<DIV align="center" style="font-size: 10pt; margin-top: 10pt"><B>SIGNATURES</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused
this report to be signed on its behalf by the undersigned hereunto duly authorized.<BR>
</DIV>

<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left"><B>LendingClub Corporation</B><BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">March 19, 2009&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left">/s/ Howard Solovei
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">Howard Solovei     &nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">Vice President, Finance and Administration<br>
(duly authorized officer)&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
</TABLE>

<P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp; <!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif; margin-left: .25in; width: 7.20in">

<DIV align="center" style="font-size: 10pt; margin-top: 10pt"><b>EXHIBIT&nbsp;INDEX</b>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
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    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="77%">&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>Exhibit No.</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" style="border-bottom: 1px solid #000000"><B>Description</B></TD>
</TR>

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    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">3.1</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Amended and Restated Certificate of Incorporation</DIV></TD>
</TR>
<TR valign="bottom" style="padding-top: 1px"><!-- Blank Space -->
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">99.1</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Series&nbsp;B Preferred Stock Purchase Agreement, dated March&nbsp;13, 2009</DIV></TD>
</TR>
<TR valign="bottom" style="padding-top: 1px"><!-- Blank Space -->
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">99.2</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Amended and Restated Investor Rights Agreement, dated March&nbsp;13, 2009</DIV></TD>
</TR>
<TR valign="bottom" style="padding-top: 1px"><!-- Blank Space -->
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">99.3</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Amended and Restated Voting Agreement, dated March&nbsp;13, 2009</DIV></TD>
</TR>
<TR valign="bottom" style="padding-top: 1px"><!-- Blank Space -->
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">99.4</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Amended and Restated Right of First Refusal and Co-Sale Agreement, dated March&nbsp;13, 2009</DIV></TD>
</TR>
<!-- End Table Body --></TABLE>
</DIV>



<P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>



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{"company-data": {"conformed-name": "LendingClub Corp", "cik": "0001409970", "assigned-sic": "6199", "irs-number": "000000000", "state-of-incorporation": "DE", "fiscal-year-end": "0331"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "333-151827", "film-number": "09691860"}, "business-address": {"street1": "440 North Wolfe Road", "city": "Sunnyvale", "state": "CA", "zip": "94085", "phone": "(408) 524-1542"}, "mail-address": {"street1": "440 North Wolfe Road", "city": "Sunnyvale", "state": "CA", "zip": "94085"}}
Form 8-K
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): March 13, 2009
LendingClub Corporation
(Exact name of registrant as specified in its charter)
Delaware
333-151827
51-0605731
(State or other jurisdiction
of incorporation)
(Commission File Number)
(IRS Employer Identification No.)
440 North Wolfe Road, Sunnyvale, California
94085
(Address of principal executive offices)
(Zip Code)
Registrant's telephone number, including area code:
(408) 524-1540
Not applicable.
(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
o
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 1.01 Entry into a Material Definitive Agreement.
On March 13, 2009, LendingClub Corporation ("
LendingClub
") sold 16,036,346 shares of its
Series B Preferred Stock, par value $0.01 per share ("
Shares
") for aggregate gross proceeds to
LendingClub of approximately $12.0 million ("
Series B Financing
"), pursuant to a Series B Preferred
Stock Purchase Agreement dated March 13, 2009 ("
Purchase Agreement
"). LendingClub sold the Shares
pursuant to an exemption from registration provided by Rule 506 of Regulation D promulgated under
the Securities Act of 1933; all investors in the Series B Financing were "accredited investors" (as
defined under Rule 501 of Regulation D) and LendingClub made no general solicitation for the sale
of the Shares. The Shares are convertible into shares of LendingClub common stock, par value $0.01
per share, on a one-for-one basis, as adjusted from time to time pursuant to the anti-dilution
provisions of the LendingClub certificate of incorporation.
In connection with the Series B Financing, LendingClub also entered into an Amended and
Restated Investor Rights Agreement dated March 13, 2009 ("
Rights Agreement
") pursuant to which the
Company granted the Series B Financing investors customary registration rights, information rights
and rights of first refusal to future issuances of LendingClub's securities. LendingClub also
entered into an Amended and Restated Voting Agreement dated March 13, 2009 ("
Voting Agreement
")
pursuant to which the investors and other stockholders of LendingClub agreed to vote their
respective shares of LendingClub capital stock in agreed upon manners regarding the voting for
members of the LendingClub Board of Directors and the approval of a sale of LendingClub. Finally,
LendingClub, Renaud Laplanche and holders of shares of LendingClub preferred stock entered into an
Amended and Restated Right of First Refusal and Co-Sale Agreement dated March 13, 2009 ("
Co-Sale
Agreement
") pursuant to which Mr. Laplanche, if he wishes to sell shares of LendingClub common
stock to a third party, must first offer such shares to the Company and holders of preferred stock
that are parties the Co-Sale Agreement, and in some circumstances, the preferred stockholders have
the right to sell their shares of preferred stock to the third party.
The description in this report of the terms of the Series B
Financing, including the terms of the Purchase Agreement,
Rights Agreement, Voting Agreement and Co-Sale Agreement is qualified
in its entirety by the following exhibits filed with this report: the
Purchase Agreement, Rights Agreement, Voting Agreement and Co-Sale
Agreement.
Canaan Partners VII LLC ("
Canaan
") and Norwest Venture Partners X, LP ("
NVP
") purchased Shares
in the Series B Financing. Daniel Ciporin a Member/Manager of Canaan and Jeffrey Crowe, a General
Partner of NVP are members of the LendingClub Board of Directors.
Item 3.02 Unregistered Sales of Equity Securities.
The information set forth in the first paragraph of Item 1.01 is hereby incorporated by
reference. No underwriting discounts or commissions were paid in connection with the Series B
Financing.
Item 5.02.
Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain
Officers.
In
connection with the Series B Financing, and in accordance with the
terms of the Voting Agreement, Rebecca Lynn, a Principal of
Morgenthaler Ventures IX, L.P., was appointed as a member of the
LendingClub Board of Directors on March 13, 2009.
Item 8.01 Other Information.
In
connection with its March 13, 2009 sale of Series B
Preferred Stock, LendingClub amended and
restated its certificate of incorporation, to reflect the rights, preferences and privileges of the
Series B Preferred Stock, increase the number of authorized shares of common stock, and decrease
the authorized number of Series A Preferred Stock. The
description in this report of the amended and restarted certificate
of incorporation is qualified in its entirety by the Amended and Restated Certificate of
Incorporation, dated March 12, 2009, filed as an exhibit to this report.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
Exhibit No.
Description
3.1
Amended and Restated Certificate of Incorporation, dated March 12, 2009
99.1
Series B Preferred Stock Purchase Agreement, dated March 13, 2009
99.2
Amended and Restated Investor Rights Agreement, dated March 13, 2009
99.3
Amended and Restated Voting Agreement, dated March 13, 2009
99.4
Amended and Restated Right of First Refusal and Co-Sale Agreement, dated March 13, 2009
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused
this report to be signed on its behalf by the undersigned hereunto duly authorized.
LendingClub Corporation
March 19, 2009
By:
/s/ Howard Solovei
Howard Solovei
Vice President, Finance and Administration
(duly authorized officer)
EXHIBIT INDEX
Exhibit No.
Description
3.1
Amended and Restated Certificate of Incorporation
99.1
Series B Preferred Stock Purchase Agreement, dated March 13, 2009
99.2
Amended and Restated Investor Rights Agreement, dated March 13, 2009
99.3
Amended and Restated Voting Agreement, dated March 13, 2009
99.4
Amended and Restated Right of First Refusal and Co-Sale Agreement, dated March 13, 2009