<SEC-DOCUMENT>0000905718-21-000451.txt : 20210326
<SEC-HEADER>0000905718-21-000451.hdr.sgml : 20210326
<ACCEPTANCE-DATETIME>20210326183327
ACCESSION NUMBER:		0000905718-21-000451
CONFORMED SUBMISSION TYPE:	3
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20210325
FILED AS OF DATE:		20210326
DATE AS OF CHANGE:		20210326

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Park West Asset Management LLC
		CENTRAL INDEX KEY:			0001386928
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		3
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-40249
		FILM NUMBER:		21778987

	BUSINESS ADDRESS:	
		STREET 1:		900 LARKSPUR LANDING CIRCLE, SUITE 165
		CITY:			LARKSPUR
		STATE:			CA
		ZIP:			94939
		BUSINESS PHONE:		(415) 524-2902

	MAIL ADDRESS:	
		STREET 1:		900 LARKSPUR LANDING CIRCLE, SUITE 165
		CITY:			LARKSPUR
		STATE:			CA
		ZIP:			94939

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ThredUp Inc.
		CENTRAL INDEX KEY:			0001484778
		STANDARD INDUSTRIAL CLASSIFICATION:	RETAIL-CATALOG & MAIL-ORDER HOUSES [5961]
		IRS NUMBER:				264009181
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		969 BROADWAY
		STREET 2:		SUITE 200
		CITY:			OAKLAND
		STATE:			CA
		ZIP:			94607
		BUSINESS PHONE:		415-402-5202

	MAIL ADDRESS:	
		STREET 1:		969 BROADWAY
		STREET 2:		SUITE 200
		CITY:			OAKLAND
		STATE:			CA
		ZIP:			94607

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	thredUP
		DATE OF NAME CHANGE:	20100222
</SEC-HEADER>
<DOCUMENT>
<TYPE>3
<SEQUENCE>1
<FILENAME>thredup_fm3mar252021.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0206</schemaVersion>

    <documentType>3</documentType>

    <periodOfReport>2021-03-25</periodOfReport>

    <noSecuritiesOwned>0</noSecuritiesOwned>

    <issuer>
        <issuerCik>0001484778</issuerCik>
        <issuerName>ThredUp Inc.</issuerName>
        <issuerTradingSymbol>TDUP</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001386928</rptOwnerCik>
            <rptOwnerName>Park West Asset Management LLC</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>900 LARKSPUR LANDING CIRCLE, SUITE 165</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>LARKSPUR</rptOwnerCity>
            <rptOwnerState>CA</rptOwnerState>
            <rptOwnerZipCode>94939</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle></officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Stock, par value $0.0001</value>
                <footnoteId id="F1"/>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>871599</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See Footnote</value>
                    <footnoteId id="F2"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
    </nonDerivativeTable>

    <derivativeTable>
        <derivativeHolding>
            <securityTitle>
                <value>Series F Preferred Stock</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <footnoteId id="F3"/>
            </conversionOrExercisePrice>
            <exerciseDate>
                <footnoteId id="F3"/>
            </exerciseDate>
            <expirationDate>
                <footnoteId id="F3"/>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock, par value $0.0001 per share</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>7844390</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See Footnote</value>
                    <footnoteId id="F2"/>
                </natureOfOwnership>
            </ownershipNature>
        </derivativeHolding>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">Immediately prior to the completion of the Issuer's initial public offering and following the conversion of each series of the Issuer's convertible preferred stock into Common Stock, par value $0.0001 per share (&quot;Common Stock&quot;), each share of Common Stock shall be reclassified into one share of Class B Common Stock in an exempt transaction pursuant to Rule 16b-7. Class B Common Stock is convertible into Class A Common Stock at any time at the option of the holder.</footnote>
        <footnote id="F2">Park West Asset Management LLC (the &quot;Reporting Person&quot;) is the investment manager to Park West Investors Master Fund, Limited, a Cayman Islands exempted company (&quot;PWIMF&quot;), and Park West Partners International, Limited, a Cayman Islands exempted company (&quot;PWPI&quot;). Peter S. Park (&quot;Mr. Park&quot;), through one or more affiliated entities, is the controlling manager of the Reporting Person. On March 25, 2021, PWIMF held 791,725 shares of Common Stock and 7,125,528 shares of Series F Preferred Stock and PWPI held 79,874 shares of Common Stock and 718,862 shares of Series F Preferred Stock. The Reporting Person's and Mr. Park's beneficial ownership is limited to their pecuniary interest, if any, in such securities.</footnote>
        <footnote id="F3">Each share of Series F Preferred Stock shall automatically convert into one share of the Issuer's Common Stock, par value $0.0001 per share, on a one-for-one basis and then be reclassified into one share of the Issuer's Common Stock immediately prior to the closing of the Issuer's initial public offering. The shares of Series F Preferred Stock have no expiration date.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Grace Jimenez, Chief Financial Officer of Park West Asset Management LLC</signatureName>
        <signatureDate>2021-03-26</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
