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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
(Amendment No. 1)
Under the Securities and Exchange Act of 1934
Universal Technical Institute, Inc.
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(Name of Issuer)
Common Stock, $0.0001 par value
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(Title of Class of Securities)
913915104
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(CUSIP Number)
Wendy Menefee
Pivot Point Capital Partners, LLC
One Sansome Street, Suite 2900
San Francisco, CA 94104
(415) 343-7074
Copy to:
Julia Corelli
Pepper Hamilton LLP
2 Logan Square, Suite 3000
Philadelphia, PA 19103-2799
(215) 981-4000
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(Name, address and telephone number of Person
Authorized to Receive Notices and Communications)
August 16, 2010
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(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 [ ].
Note: Schedules filed in paper format shall include a signed original and
five copies of the schedule, including all exhibits. See Rule 240.13d-7 for
other parties to whom copies are to be sent.
*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.
This 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).
Page 1 of 12
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SCHEDULE 13D
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CUSIP NO. 913915104 Page 2 of 12
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1. NAME OF REPORTING PERSON/S.S. OR I.R.S. INDENTIFICATION NO. OF ABOVE
PERSON (entities only)
Pivot Point Capital Master, LP 20-5031308
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X]
(b) [ ]
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3. SEC USE ONLY
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4. SOURCE OF FUNDS (See Instructions)*
WC*
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5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e) [ ]
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6. CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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7. SOLE VOTING POWER
0
NUMBER OF --------------------------------------------------------
SHARES 8. SHARED VOTING POWER
BENEFICIALLY 970,034**
OWNED BY EACH --------------------------------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER
0
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10. SHARED DISPOSITIVE POWER
970,034**
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11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
970,034**
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12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
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13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
4.0%
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14. TYPE OF REPORTING PERSON
PN
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*See Item 3
**See Item 2 and 5
SCHEDULE 13D
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CUSIP NO. 913915104 Page 3 of 12
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1. NAME OF REPORTING PERSON/S.S. OR I.R.S. INDENTIFICATION NO. OF ABOVE
PERSON (entities only)
Pivot Point Capital, LP 20-2259088
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X]
(b) [ ]
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3. SEC USE ONLY
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4. SOURCE OF FUNDS (See Instructions)*
WC*
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5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [ ]
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6. CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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7. SOLE VOTING POWER
0
NUMBER OF --------------------------------------------------------
SHARES 8. SHARED VOTING POWER
BENEFICIALLY 970,034**
OWNED BY EACH --------------------------------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER
0
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10. SHARED DISPOSITIVE POWER
970,034**
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11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
970,034**
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12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
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13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
4.0%
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14. TYPE OF REPORTING PERSON
PN
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*See Item 3
**See Item 2 and 5
SCHEDULE 13D
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CUSIP NO. 913915104 Page 4 of 12
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1. NAME OF REPORTING PERSON/S.S. OR I.R.S. INDENTIFICATION NO. OF ABOVE
PERSON (entities only)
Pivot Point Capital Offshore, L.P. 20-5085181
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X]
(b) [ ]
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3. SEC USE ONLY
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4. SOURCE OF FUNDS (See Instructions)*
WC*
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5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [ ]
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6. CITIZENSHIP OR PLACE OF ORGANIZATION
Cayman Islands
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7. SOLE VOTING POWER
0
NUMBER OF --------------------------------------------------------
SHARES 8. SHARED VOTING POWER
BENEFICIALLY 970,034**
OWNED BY EACH --------------------------------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER
0
--------------------------------------------------------
10. SHARED DISPOSITIVE POWER
970,034**
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11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
970,034**
---------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
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13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
4.0%
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14. TYPE OF REPORTING PERSON
PN
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*See Item 3
**See Item 2 and 5
SCHEDULE 13D
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CUSIP NO. 913915104 Page 5 of 12
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1. NAME OF REPORTING PERSON/S.S. OR I.R.S. INDENTIFICATION NO. OF ABOVE
PERSON (entities only)
Pivot Point Capital Offshore DS, Ltd.
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X]
(b) [ ]
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3. SEC USE ONLY
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4. SOURCE OF FUNDS (See Instructions)*
WC*
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5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [ ]
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6. CITIZENSHIP OR PLACE OF ORGANIZATION
Cayman Islands
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7. SOLE VOTING POWER
0
NUMBER OF --------------------------------------------------------
SHARES 8. SHARED VOTING POWER
BENEFICIALLY 970,034**
OWNED BY EACH --------------------------------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER
0
--------------------------------------------------------
10. SHARED DISPOSITIVE POWER
970,034**
---------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
970,034**
---------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
---------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
4.0%
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14. TYPE OF REPORTING PERSON
CO
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*See Item 3
**See Item 2 and 5
SCHEDULE 13D
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CUSIP NO. 913915104 Page 6 of 12
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1. NAME OF REPORTING PERSON/S.S. OR I.R.S. INDENTIFICATION NO. OF ABOVE
PERSON (entities only)
Pivot Point Capital Partners, LLC 20-1888857
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X]
(b) [ ]
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3. SEC USE ONLY
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4. SOURCE OF FUNDS*
00*
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5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [ ]
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6. CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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7. SOLE VOTING POWER
0
NUMBER OF --------------------------------------------------------
SHARES 8. SHARED VOTING POWER
BENEFICIALLY 970,034**
OWNED BY EACH --------------------------------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER
0
--------------------------------------------------------
10. SHARED DISPOSITIVE POWER
970,034**
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11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
970,034**
---------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
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13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
4.0%
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14. TYPE OF REPORTING PERSON
00 (LLC)
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*See Item 3
**See Item 2 and 5
SCHEDULE 13D
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CUSIP NO. 913915104 Page 7 of 12
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1. NAME OF REPORTING PERSON/S.S. OR I.R.S. INDENTIFICATION NO. OF ABOVE
PERSON (entities only)
Pivot Point Capital GP, LLC 20-2258940
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X]
(b) [ ]
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3. SEC USE ONLY
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4. SOURCE OF FUNDS*
00*
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5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [ ]
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6. CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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7. SOLE VOTING POWER
0
NUMBER OF --------------------------------------------------------
SHARES 8. SHARED VOTING POWER
BENEFICIALLY 970,034**
OWNED BY EACH --------------------------------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER
0
--------------------------------------------------------
10. SHARED DISPOSITIVE POWER
970,034**
---------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
970,034**
---------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
---------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
4.0%
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14. TYPE OF REPORTING PERSON
00 (LLC)
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*See Item 3
**See Item 2 and 5
SCHEDULE 13D
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CUSIP NO. 913915104 Page 8 of 12
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1. NAME OF REPORTING PERSON/S.S. OR I.R.S. INDENTIFICATION NO. OF ABOVE
PERSON (entities only)
ANTHONY P. BRENNER
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X]
(b) [ ]
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3. SEC USE ONLY
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4. SOURCE OF FUNDS*
00*
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5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [ ]
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6. CITIZENSHIP OR PLACE OF ORGANIZATION
U.S.A.
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7. SOLE VOTING POWER
0
NUMBER OF --------------------------------------------------------
SHARES 8. SHARED VOTING POWER
BENEFICIALLY 970,034**
OWNED BY EACH --------------------------------------------------------
PERSON WITH 9. SOLE DISPOSITIVE POWER
0
--------------------------------------------------------
10. SHARED DISPOSITIVE POWER
970,034**
---------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
970,034**
---------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
---------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
4.0%
---------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON
IN
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*See Item 3
**See Item 2 and 5
SCHEDULE 13D
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CUSIP NO. 913915104 Page 9 of 12
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Item 1. Security and Issuer
This Amendment No. 1 amends the Schedule 13D (the 'Schedule 13D')filed with
the Securities and Exchange Commission (the 'Commission') on April 6, 2009
by Pivot Point Capital Master, LP, a Delaware limited partnership ('PPC
Master'); Pivot Point Capital, LP, a Delaware limited partnership ('PPC
LP'); Pivot Point Capital Offshore, L.P., a Cayman Islands exempted limited
partnership ('PPC Offshore'); Pivot Point Capital Offshore DS, Ltd., a
Cayman Islands exempt corporation ('DS Fund'); Pivot Point Capital GP, LLC,
a Delaware limited liability company ('PPC GP'); Pivot Point Capital
Partners, LLC, a Delaware limited liability company ('PPCP'); and Anthony
P. Brenner (collectively, the 'Reporting Persons').
This amendment relates to the Common Stock, $0.0001 par value per share
(the 'Common Stock'), of Universal Technical Institute, Inc. a Delaware
corporation (the 'Issuer'). The address of the principal executive offices
of the Issuer is 20410 North 19th Avenue, Suite 200, Phoenix, Arizona 85027.
The following amendments to the Schedule 13D are hereby made. Unless
otherwise defined herein, all capitalized terms shall have the meanings
ascribed to them in the initial Schedule 13D.
Item 2. Identity and Background
There have been no changes to Item 2 since the initial Schedule 13D filed
on April 6, 2009.
Item 3. Source and Amount of Funds or Other Consideration
There have been no changes to Item 3 since the initial Schedule 13D filed
on April 6, 2009.
Item 4. Purpose of Transaction
There have been no changes to Item 4 since the initial Schedule 13D filed
on April 6, 2009.
Item 5. Interest in Securities of the Issuer
(a),(b). According to the Issuer's Form 10Q filed with the Securities and
Exchange Commission on August 4, 2010, there were 24,222,486 shares of
Common Stock issued and outstanding as of July 29, 2010. Based on such
information, after taking into account the transactions described in Item
5(c) below, the Reporting Persons report beneficial ownership of 970,034
shares of Common Stock, representing 4.0% of the outstanding Common Stock,
by PPC Master on behalf of the feeder funds, PPC LP, PPC Offshore and DS
Fund. Shares reported as beneficially owned by PPC Master, PPC LP, PPC
Offshore and DS Fund LP are also reported as beneficially owned by (i) PPC
GP as the general partner of PPC Master, PPC LP and PPC Offshore and as
SCHEDULE 13D
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CUSIP NO. 913915104 Page 10 of 12
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Manager of DS Fund, and (ii) PPCP in its capacity as investment advisor to
PPC Master, PPC LP, PPC Offshore and DS Fund.
Voting and investment power concerning the above shares are held solely by
PPC GP and PPCP and Anthony Brenner as sole Managing Member of both
entities. The Reporting Persons therefore may be deemed to be members of a
group, in which case the group would be deemed to have beneficial ownership
of an aggregate of 970,034 shares of the Common Stock, which is 4.0% of the
outstanding Common Stock. The filing of this Schedule 13D shall not be
construed as an admission that any of the executive officers, managing
members or members of PPCP and PPC GP is, for any purpose, the beneficial
owner of any of the securities that are beneficially owned by the Reporting
Persons.
(c) The following shares of Common Stock were sold by the Reporting Persons
in the open market within the last sixty days:
Reporting Person Trade Date Shares Price/Share
---------------- ---------- --------- -----------
Pivot Point Capital 07/14/2010 15,000 23.1605
Master, LP 07/15/2010 1,100 22.8426
07/16/2010 8,423 22.3080
07/19/2010 30,000 22.9915
07/21/2010 3,700 22.5280
07/22/2010 600 21.9713
07/28/2010 900 20.9396
07/30/2010 15,000 20.3215
08/02/2010 15,000 20.6869
08/09/2010 43,800 16.9994
08/10/2010 24,688 16.4109
08/11/2010 26,860 16.4690
08/12/2010 14,862 15.8879
08/13/2010 12,500 15.0889
08/16/2010 104,201 16.2230
08/17/2010 76,236 15.9277
08/18/2010 49,207 16.4441
08/19/2010 37,300 16.3708
08/20/2010 52,483 16.3032
(d) Not applicable.
(e) The Reporting Persons ceased to beneficially own 5% of the Issuer's
Common Stock on August 16, 2010.
Item 6. Contracts, Arrangements, Understandings or Relationships with
Respect to Securities of the Issuer
There have been no changes to Item 6 since the initial Schedule 13D filed
on April 6, 2009.
Item 7. Material to Be Filed as Exhibits
Exhibit 1: Joint Filing Undertaking
SCHEDULE 13D
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CUSIP NO. 913915104 Page 11 of 12
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SIGNATURES
After reasonable inquiry and to the best of our knowledge and belief, the
undersigned certify that the information set forth in this statement is true,
complete and correct.
Pivot Point Capital Master, LP, by
Pivot Point Capital GP, LLC, its General Partner
By: /s/ Anthony P. Brenner
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Dated: August 20, 2010 Anthony P. Brenner, Managing Member
Pivot Point Capital, LP, by
Pivot Point Capital GP, LLC, its General Partner
By: /s/ Anthony P. Brenner
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Dated: August 20, 2010 Anthony P. Brenner, Managing Member
Pivot Point Capital Offshore, L.P., by
Pivot Point Capital GP, LLC, its General Partner
By: /s/ Anthony P. Brenner
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Dated: August 20, 2010 Anthony P. Brenner, Managing Member
Pivot Point Capital Offshore DS, Ltd., by
Pivot Point Capital GP, LLC, its Manager
By: /s/ Anthony P. Brenner
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Dated: August 20, 2010 Anthony P. Brenner, Director
Pivot Point Capital GP, LLC
By: /s/ Anthony P. Brenner
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Dated: August 20, 2010 Anthony P. Brenner, Managing Member
Pivot Point Capital Partners, LLC
By: /s/ Anthony P. Brenner
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Dated: August 20, 2010 Anthony P. Brenner, Managing Member
/s/ Anthony P. Brenner
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Dated: August 20, 2010 Anthony P. Brenner
SCHEDULE 13D
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CUSIP NO. 913915104 Page 12 of 12
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Exhibit 1
JOINT FILING UNDERTAKING
The undersigned, being duly authorized thereunto, hereby execute this
agreement as an exhibit to this Schedule 13D to evidence the agreement of
the below-named parties, in accordance with the rules promulgated pursuant
to the Securities Exchange Act of 1934, to file this Schedule jointly on
behalf of each such party.
Pivot Point Capital Master, LP, by
Pivot Point Capital GP, LLC, its General Partner
By: /s/ Anthony P. Brenner
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Dated: August 20, 2010 Anthony P. Brenner, Managing Member
Pivot Point Capital, LP, by
Pivot Point Capital GP, LLC, its General Partner
By: /s/ Anthony P. Brenner
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Dated: August 20, 2010 Anthony P. Brenner, Managing Member
Pivot Point Capital Offshore, L.P., by
Pivot Point Capital GP, LLC, its General Partner
By: /s/ Anthony P. Brenner
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Dated: August 20, 2010 Anthony P. Brenner, Managing Member
Pivot Point Capital Offshore DS, Ltd., by
Pivot Point Capital GP, LLC, its Manager
By: /s/ Anthony P. Brenner
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Dated: August 20, 2010 Anthony P. Brenner, Director
Pivot Point Capital GP, LLC
By: /s/ Anthony P. Brenner
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Dated: August 20, 2010 Anthony P. Brenner, Managing Member
Pivot Point Capital Partners, LLC
By: /s/ Anthony P. Brenner
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Dated: August 20, 2010 Anthony P. Brenner, Managing Member
/s/ Anthony P. Brenner
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Dated: August 20, 2010 Anthony P. Brenner