# EDGAR Filing Document

**Accession Number:** 0001911148
**File Stem:** 0001104659-23-011715
**Filing Date:** 2023-2
**Character Count:** 15367
**Document Hash:** b48a7c4be25961182b4f69118320ad50
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001104659-23-011715.hdr.sgml**: 20230207

**ACCESSION NUMBER**: 0001104659-23-011715

**CONFORMED SUBMISSION TYPE**: SC 13G/A

**PUBLIC DOCUMENT COUNT**: 2

**FILED AS OF DATE**: 20230207

**DATE AS OF CHANGE**: 20230207

**GROUP MEMBERS**: GRACELL VENTURE HOLDINGS LTD

**SUBJECT COMPANY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Gracell Biotechnologies Inc.
- **CENTRAL INDEX KEY:** 0001826492
- **STANDARD INDUSTRIAL CLASSIFICATION:** PHARMACEUTICAL PREPARATIONS [2834]
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** E9
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** SC 13G/A
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 005-91967
- **FILM NUMBER:** 23594989

**BUSINESS ADDRESS:**
- **STREET 1:** BUILDING 3, 418 GUILIN ROAD
- **STREET 2:** XUHUI DISTRICT
- **CITY:** SHANGHAI
- **STATE:** F4
- **ZIP:** 200030
- **BUSINESS PHONE:** 00862164031522

**MAIL ADDRESS:**
- **STREET 1:** BUILDING 3, 418 GUILIN ROAD
- **STREET 2:** XUHUI DISTRICT
- **CITY:** SHANGHAI
- **STATE:** F4
- **ZIP:** 200030
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** William Cao Wei
- **CENTRAL INDEX KEY:** 0001911148

**FILING VALUES:**
- **FORM TYPE:** SC 13G/A

**MAIL ADDRESS:**
- **STREET 1:** BLDG 12, BLOCK B, PHASE II. BIOBAY INDUS
- **STREET 2:** PARK, 218 SANGTIAN ST.. SUZHOU INDUSTRIA
- **CITY:** SUZHOU
- **STATE:** F4
- **ZIP:** 215123

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**SCHEDULE 13G**

**(Rule 13d-102)**

**INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT**

**TO § 240.13d-1(b), (c) AND (d) AND AMENDMENTS THERETO FILED**

**PURSUANT TO § 240.13d-2**

**Under the Securities Exchange Act of 1934**<br> **(Amendment No. 1)\***

**Gracell Biotechnologies Inc.**

(Name of Issuer)

**Ordinary shares, par value $0.0001 per share**

(Title of Class of Securities)

**38406L 103\*\***

(CUSIP Number)

**December 31, 2022**

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

□ Rule 13d-1(b)

□ Rule 13d-1(c)

x Rule 13d-1(d)

\*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.

\*\* CUSIP number 38406L 103 has been assigned to the American depositary shares ("ADSs") of Gracell Biotechnologies Inc. (the "Issuer,") which are quoted on The Nasdaq Global Select Market under the symbol "GRCL." Each ADS represents five ordinary shares of the Issuer. No CUSIP has been assigned to the Issuer's ordinary shares.

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).

---

| | | | |
|:---|:---|:---|:---|
| 1 | Name of Reporting Person<br> William Wei Cao | Name of Reporting Person<br> William Wei Cao | Name of Reporting Person<br> William Wei Cao |
| 2 | Check the Appropriate Box if a Member of a Group<br> (a) ◻<br> (b) ◻  | Check the Appropriate Box if a Member of a Group<br> (a) ◻<br> (b) ◻  | Check the Appropriate Box if a Member of a Group<br> (a) ◻<br> (b) ◻  |
| 3 | SEC Use Only | SEC Use Only | SEC Use Only |
| 4 | Citizenship or Place of Organization <br> People's Republic of China | Citizenship or Place of Organization <br> People's Republic of China | Citizenship or Place of Organization <br> People's Republic of China |
| Number of<br> Shares<br> Beneficially<br> Owned by<br> Each<br> Reporting<br> Person With | Number of<br> Shares<br> Beneficially<br> Owned by<br> Each<br> Reporting<br> Person With | 5 | Sole Voting Power <br> 95,146,385<sup>(</sup><sup>1)</sup> |
| Number of<br> Shares<br> Beneficially<br> Owned by<br> Each<br> Reporting<br> Person With | Number of<br> Shares<br> Beneficially<br> Owned by<br> Each<br> Reporting<br> Person With | 6 | Shared Voting Power <br> 0 |
| Number of<br> Shares<br> Beneficially<br> Owned by<br> Each<br> Reporting<br> Person With | Number of<br> Shares<br> Beneficially<br> Owned by<br> Each<br> Reporting<br> Person With | 7 | Sole Dispositive Power <br> 95,146,385 <sup>(</sup><sup>1)</sup> |
| Number of<br> Shares<br> Beneficially<br> Owned by<br> Each<br> Reporting<br> Person With | Number of<br> Shares<br> Beneficially<br> Owned by<br> Each<br> Reporting<br> Person With | 8 | Shared Dispositive Power <br> 0 |
| 9 | Aggregate Amount Beneficially Owned by Each Reporting Person<br> 95,146,385 <sup>(</sup><sup>1)</sup> | Aggregate Amount Beneficially Owned by Each Reporting Person<br> 95,146,385 <sup>(</sup><sup>1)</sup> | Aggregate Amount Beneficially Owned by Each Reporting Person<br> 95,146,385 <sup>(</sup><sup>1)</sup> |
| 10 | Check if the Aggregate Amount in Row (9) Excludes Certain Shares ◻ | Check if the Aggregate Amount in Row (9) Excludes Certain Shares ◻ | Check if the Aggregate Amount in Row (9) Excludes Certain Shares ◻ |
| 11 | Percent of Class Represented by Amount in Row 9<br> 26.9% <sup>(</sup><sup>2)</sup> | Percent of Class Represented by Amount in Row 9<br> 26.9% <sup>(</sup><sup>2)</sup> | Percent of Class Represented by Amount in Row 9<br> 26.9% <sup>(</sup><sup>2)</sup> |
| 12 | Type of Reporting Person<br> IN | Type of Reporting Person<br> IN | Type of Reporting Person<br> IN |

---

(1) Represents (i) 18,434,448 ADSs directly
 held by Gracell Venture Holdings Limited, representing 92,172,240 ordinary shares, and (ii) 594,829
 ADSs that William Wei Cao has the rights to acquire within 60 days of December 31, 2022,
 representing 2,974,145 ordinary shares. Gracell Venture Holdings Limited is a company incorporated
 in the British Virgin Islands. Gracell Venture Holdings Limited is wholly owned by Land Blossom
 Limited, a company incorporated in the British Virgin Islands. Land Blossom Limited, under
 The Cao Family Trust, or the Trust, established under the law of Republic of Singapore and
 managed by VISTRA Trust (Singapore) Pte. Limited, or the Trustee, is wholly owned and managed
 by the Trustee. Dr. William Wei Cao is the Settlor of the Trust and Dr. Cao and
 his family members are the Trust's beneficiaries. Under the terms of the Trust, Dr. Cao
 has the power to direct the Trustee with respect to the retention or disposal of, and the
 exercise of any voting and other rights attached to the shares held by Gracell Venture Holdings
 Limited in the Issuer.

(2) Calculation is based on a total of 353,897,862
 ordinary shares of the Issuer outstanding as of December 31, 2022.

---

| | | | |
|:---|:---|:---|:---|
| 1 | Name of Reporting Person<br> Gracell Venture Holdings Limited | Name of Reporting Person<br> Gracell Venture Holdings Limited | Name of Reporting Person<br> Gracell Venture Holdings Limited |
| 2 | Check the Appropriate Box if a Member of a Group<br> (a) ◻<br> (b) ◻ | Check the Appropriate Box if a Member of a Group<br> (a) ◻<br> (b) ◻ | Check the Appropriate Box if a Member of a Group<br> (a) ◻<br> (b) ◻ |
| 3 | SEC Use Only | SEC Use Only | SEC Use Only |
| 4 | Citizenship or Place of Organization <br> British Virgin Islands | Citizenship or Place of Organization <br> British Virgin Islands | Citizenship or Place of Organization <br> British Virgin Islands |
| Number of<br> Shares<br> Beneficially<br> Owned by<br> Each<br> Reporting<br> Person With | Number of<br> Shares<br> Beneficially<br> Owned by<br> Each<br> Reporting<br> Person With | 5 | Sole Voting Power <br> 92,172,240 <sup>(3)</sup> |
| Number of<br> Shares<br> Beneficially<br> Owned by<br> Each<br> Reporting<br> Person With | Number of<br> Shares<br> Beneficially<br> Owned by<br> Each<br> Reporting<br> Person With | 6 | Shared Voting Power <br> 0 |
| Number of<br> Shares<br> Beneficially<br> Owned by<br> Each<br> Reporting<br> Person With | Number of<br> Shares<br> Beneficially<br> Owned by<br> Each<br> Reporting<br> Person With | 7 | Sole Dispositive Power <br> 92,172,240 <sup>(3)</sup> |
| Number of<br> Shares<br> Beneficially<br> Owned by<br> Each<br> Reporting<br> Person With | Number of<br> Shares<br> Beneficially<br> Owned by<br> Each<br> Reporting<br> Person With | 8 | Shared Dispositive Power <br> 0 |
| 9 | Aggregate Amount Beneficially Owned by Each Reporting Person<br> 92,172,240 <sup>(3)</sup> | Aggregate Amount Beneficially Owned by Each Reporting Person<br> 92,172,240 <sup>(3)</sup> | Aggregate Amount Beneficially Owned by Each Reporting Person<br> 92,172,240 <sup>(3)</sup> |
| 10 | Check if the Aggregate Amount in Row (9) Excludes Certain Shares ◻ | Check if the Aggregate Amount in Row (9) Excludes Certain Shares ◻ | Check if the Aggregate Amount in Row (9) Excludes Certain Shares ◻ |
| 11 | Percent of Class Represented by Amount in Row 9<br> 26.0% <sup>(</sup><sup>4)</sup> | Percent of Class Represented by Amount in Row 9<br> 26.0% <sup>(</sup><sup>4)</sup> | Percent of Class Represented by Amount in Row 9<br> 26.0% <sup>(</sup><sup>4)</sup> |
| 12 | Type of Reporting Person<br> CO | Type of Reporting Person<br> CO | Type of Reporting Person<br> CO |

---

(3) Represents 18,434,448 ADSs, representing 92,172,240
 ordinary shares, directly held by Gracell Venture Holdings Limited, a company incorporated
 in the British Virgin Islands. Gracell Venture Holdings Limited is wholly owned by Land Blossom
 Limited, a company incorporated in the British Virgin Islands. Land Blossom Limited, under
 The Cao Family Trust, or the Trust, established under the law of Republic of Singapore and
 managed by VISTRA Trust (Singapore) Pte. Limited, or the Trustee, is wholly owned and managed
 by the Trustee. Dr. William Wei Cao is the Settlor of the Trust and Dr. Cao and
 his family members are the Trust's beneficiaries. Under the terms of the Trust, Dr. Cao
 has the power to direct the Trustee with respect to the retention or disposal of, and the
 exercise of any voting and other rights attached to the shares held by Gracell Venture Holdings
 Limited in the Issuer.

(4) Calculation
 is based on a total of 353,897,862 ordinary shares of the Issuer outstanding as of
 December 31, 2022.

---

| | |
|:---|:---|
| **Item 1(a).** | **Name of Issuer:**<br> Gracell Biotechnologies Inc. (the "Issuer") |
| **Item 1(b).** | **Address of Issuer's Principal Executive Offices:**<br> Building 12, Block B, Phase II<br> Biobay Industrial Park, 218 Sangtian St., Suzhou Industrial Park<br> People's Republic of China |
| **Item 2(a).** | **Name of Person Filing:**<br> (i) William Wei Cao, and<br> (ii) Gracell Venture Holdings Limited<br> (collectively, the "Reporting Persons"). |
| **Item 2(b).** | **Address of Principal Business Office or, if none, Residence:**<br> The addresses of the Reporting Persons are:<br>(i) William Wei Cao:<br> Building 12, Block B, Phase II<br> Biobay Industrial Park, 218 Sangtian St., Suzhou Industrial Park<br> People's Republic of China<br>(ii) Gracell Venture Holdings Limited:<br> Sertus Chambers, P.O. Box 905<br> Quastisky Building, Road Town, Tortola<br> British Virgin Islands |
| **Item 2(c)** | **Citizenship:**<br> William Wei Cao – People's Republic of China<br> Gracell Venture Holdings Limited – British Virgin Islands |
| **Item 2(d).** | **Title of Class of Securities:**<br> Ordinary shares, par value US$0.0001 per share |
| **Item 2(e).** | **CUSIP Number:**<br> 38406L 103. This CUSIP number applies to the American depositary shares, each representing five ordinary shares of the Issuer. |
| **Item 3.** | **If this statement is filed pursuant to §§ 240.13d-1(b), or 240.13d-2(b) or (c), check whether the persons filing is a:** |
|  | Not applicable |

---

**Item 4.** **Ownership:**

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Reporting Person** | **Amount<br> beneficially<br> owned:** | **Percent<br> of class<sup>(1)</sup>:** | **Percent of<br> aggregate<br> voting<br> power:** | **Sole power<br> to vote <br> or direct <br> the vote:** | **Shared <br> power<br> to vote or <br> to direct <br> the vote:** | **Sole power <br> to<br> dispose or to<br> direct the<br> disposition <br> of:** | **Shared <br> power<br> to dispose or<br> to direct the<br> disposition of:** |
| William Wei Cao | 95146385 | 26.9% | 26.9% | 95146385 | &nbsp;&nbsp;&nbsp;&nbsp;0 | 95146385 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| Gracell Venture Holdings Limited | 92172240 | 26.0% | 26.0% | 92172240 | 0 | 92172240 | 0 |

---

(1) The
 percentage of class of securities beneficially owned by each Reporting Person is based on
 a total of 353,897,862 ordinary shares of the Issuer outstanding as of December 31,
 2022.

---

| | |
|:---|:---|
| **Item 5.** | **Ownership of Five Percent or Less of a Class:** |
|  | Not applicable |
| **Item 6.** | **Ownership of More than Five Percent on Behalf of Another Person:** |
|  | Not applicable |
| **Item 7.** | **Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company or Controlling Person:** |
|  | Not applicable |
| **Item 8.** | **Identification and Classification of Members of the Group:** |
|  | See Item 2(a) in lieu of an exhibit. |
| **Item 9.** | **Notice of Dissolution of Group:** |
|  | Not applicable |
| **Item 10.** | **Certifications:** |
|  | Not applicable |

---

**LIST OF EXHIBIT**

---

| | |
|:---|:---|
| **Exhibit No.** | **Description** |
| [99.1](tm235752d1_ex99-1.htm) | [Joint Filing Agreement](tm235752d1_ex99-1.htm) |

---

SIGNATURE

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

Dated: February 7, 2023

---

| | |
|:---|:---|
| **William Wei Cao**  | **William Wei Cao**  |
| /s/ William Wei Cao | /s/ William Wei Cao |
| **Gracell Venture Holdings Limited** | **Gracell Venture Holdings Limited** |
| By: | /s/ William Wei Cao |
| Name: | William Wei Cao |
| Title: | Director |

---

## Exhibit 99.1

**<u>Exhibit 99.1</u>**

**Joint Filing Agreement**

In accordance with Rule 13d-1(k) promulgated under the Securities Exchange Act of 1934, as amended, the undersigned hereby agree to the joint filing with all other Reporting Persons (as such term is defined in the Schedule 13G referred to below) on behalf of each of them of a statement on Schedule 13G (including amendments thereto) with respect to the ordinary shares, par value $0.0001 per share, of Gracell Biotechnologies Inc., a Cayman Islands exempted company, and that this Agreement may be included as an exhibit to such joint filing. This Agreement may be executed in any number of counterparts, all of which taken together shall constitute one and the same instrument.

IN WITNESS WHEREOF, the undersigned hereby execute this Agreement as of February 7, 2023.

---

| | |
|:---|:---|
| **William Wei Cao** | **William Wei Cao** |
| /s/ William Wei Cao | /s/ William Wei Cao |
| **Gracell Venture Holdings Limited** | **Gracell Venture Holdings Limited** |
| By: | /s/ William Wei Cao |
| Name: | William Wei Cao |
| Title: | Director |

---