<SEC-DOCUMENT>0001193125-23-230691.txt : 20231012
<SEC-HEADER>0001193125-23-230691.hdr.sgml : 20231012
<ACCEPTANCE-DATETIME>20230907163359
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0001193125-23-230691
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20230907

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ARM HOLDINGS PLC /UK
		CENTRAL INDEX KEY:			0001973239
		STANDARD INDUSTRIAL CLASSIFICATION:	SEMICONDUCTORS & RELATED DEVICES [3674]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			X0
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		110 FULBOURN ROAD
		CITY:			CAMBRIDGE
		STATE:			X0
		ZIP:			CB1 9NJ
		BUSINESS PHONE:		44 1223 400 400

	MAIL ADDRESS:	
		STREET 1:		110 FULBOURN ROAD
		CITY:			CAMBRIDGE
		STATE:			X0
		ZIP:			CB1 9NJ

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Arm Holdings Ltd
		DATE OF NAME CHANGE:	20230411
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<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman">2100 L STREET, NW</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman">SUITE 900</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman">WASHINGTON</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman">DC 20037</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman">TELEPHONE: 202.887.1500</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman">FACSIMILE: 202.887.0763</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman">WWW.MOFO.COM</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:Times New Roman">MORRISON &amp; FOERSTER LLP</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:Times New Roman">AUSTIN, BEIJING,
BERLIN, BOSTON,</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:Times New Roman">BRUSSELS, DENVER, HONG KONG,</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:Times New Roman">LONDON, LOS
ANGELES, MIAMI,</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:Times New Roman">NEW YORK, PALO ALTO, SAN DIEGO,</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:7pt; font-family:Times New Roman">SAN FRANCISCO,
SHANGHAI, SINGAPORE,</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:7pt; font-family:Times New Roman">TOKYO, WASHINGTON, D.C.</P></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">September 7, 2023 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>VIA EDGAR
</B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Attention: Jenny O&#146;Shanick, Erin Purnell </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Division
of Corporation Finance </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Office of Manufacturing </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">U.S.
Securities and Exchange Commission </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">100 F Street, N.E. </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Washington, D.C. 20549 </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B>Re:</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><B>Arm Holdings plc </B></P></TD></TR></TABLE>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B>&nbsp;&nbsp;&nbsp;&nbsp;</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><B>Amendment No. 2 to </B></P></TD></TR></TABLE>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B>&nbsp;&nbsp;&nbsp;&nbsp;</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><B>Registration Statement on Form F-1 </B></P></TD></TR></TABLE>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B>&nbsp;&nbsp;&nbsp;&nbsp;</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><B>Filed on September 5, 2023 </B></P></TD></TR></TABLE>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B>&nbsp;&nbsp;&nbsp;&nbsp;</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><B>File No. 333-274120 </B></P></TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Ladies and Gentlemen, </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">On behalf of our client, Arm Holdings
plc, a foreign private issuer incorporated under the laws of England and Wales (the &#147;Company&#148;), we are responding to the comment from the Staff (the &#147;Staff&#148;) of the Securities and Exchange Commission (the &#147;Commission&#148;)
relating to Amendment No. 2 to the Company&#146;s registration statement on Form F-1 filed on September 5, 2023 contained in the Staff&#146;s letter dated September 7, 2023 (the &#147;Comment Letter&#148;). The Company is concurrently filing
Amendment No. 3 to its registration statement on Form F-1 (&#147;Amendment No. 3&#148;) together with this response letter. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Set forth below is the
Company&#146;s response to the Staff&#146;s comment. We have reproduced below in bold the Staff&#146;s comment and have provided the Company&#146;s response immediately following the comment. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>Amendment No. 2 to Form F-1 filed September 5, 2023</U> </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>Part II</U> </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>Information Not Required in
Prospectus</U> </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>Item 8. Exhibits and Financial Statement Schedules</U> </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>Exhibit 5.1 - Opinion of Morrison &amp; Foerster (UK) LLP</U> </B></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="5%" VALIGN="top" ALIGN="left"><B>1.</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><B>We note the statement that the opinion relates to the sale of American Depositary Shares. Please have
counsel provide a revised opinion that states the number of shares to be offered, including the underwriters&#146; overallotment amount. Further, please remove assumption 5.9. Counsel may not assume that the registrant is not in bankruptcy. Finally,
please revise to expressly consent to the reference to the counsel&#146;s firm under the caption &#147;Legal Matters&#148; in the prospectus. Refer to Sections II.A.1. and II.B.3.a of Staff Legal Bulletin No. 19. </B></P></TD></TR></TABLE>
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 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">September 7, 2023 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Page Two
</P> <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"><U>Response</U>: In response to the Staff&#146;s comment, the
Company has requested counsel to provide a revised opinion to address the Staff&#146;s comment. The Company is filing a revised opinion of counsel as an exhibit to Amendment No. 3, which opinion states the number of shares to be offered, including
the underwriters&#146; overallotment amount, omits assumption 5.9 and expressly consents to the reference to the counsel&#146;s firm under the caption &#147;Legal Matters&#148; in the prospectus. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">********** </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">We hope that the Company&#146;s
response above adequately addresses the Staff&#146;s comment. If the Staff has any questions or requires any additional information, please do not hesitate to contact the undersigned by phone at (202) 887-8785 or via e-mail at JustinSalon@mofo.com.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Very truly yours, </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000">/s/ Justin R. Salon</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Justin R. Salon</P> <P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">CC: Spencer Collins, <I>Arm Holdings plc</I></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Jason Child, <I>Arm Holdings plc</I></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Laura Bartels, <I>Arm Holdings plc</I></P></TD></TR>
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