BML Investment lists 13.95M shares (9.9%) in Aclaris (NASDAQ: ACRS)

Rhea-AI Filing Summary

BML Investment Partners, L.P. filed Amendment No. 5 to a Schedule 13G/A reporting beneficial ownership of 13,950,000 shares of Aclaris Therapeutics common stock, representing 9.9% of the class based on 139,663,680 shares outstanding as disclosed on a DEF 14A dated 4/23/2026. The filing states shared voting and dispositive power over these shares and includes a signature block explaining indirect ownership through BML Capital Management, LLC and Braden M. Leonard, with a disclaimer that the reporting persons do not constitute a statutory group under Rule 13d-5(b)(1).

Key Figures

Beneficially owned shares: 13,950,000 shares Percent of class: 9.9% Shares outstanding (source): 139,663,680 shares +2 more

5 metrics

Beneficially owned shares 13,950,000 shares Amount beneficially owned reported on Schedule 13G/A

Percent of class 9.9% Percent of common stock based on disclosed outstanding shares

Shares outstanding (source) 139,663,680 shares Shares outstanding as disclosed on DEF 14A filed 4/23/2026

Shared voting power 13,950,000 shares Shared power to vote or direct the vote reported in Item 4

Sole voting/dispositive power 0 shares No sole voting or sole dispositive power reported in Item 4

Key Terms

Schedule 13G/A, shared dispositive power, beneficial ownership

3 terms

Schedule 13G/A regulatory

"filed Amendment No. 5 to a Schedule 13G/A reporting beneficial ownership"

A Schedule 13G/A is an amended public filing with the U.S. securities regulator that updates a previous Schedule 13G, disclosing when an individual or group holds a substantial (typically over 5%) stake in a company and is claiming a passive, non‑controlling intent. Investors monitor these updates because rising or falling holdings can signal changing confidence, potential future moves, or shifts in voting power — like watching a public ledger where large shareholders quietly adjust their positions.

shared dispositive power regulatory

"Shared Dispositive Power 13,950,000.00"

beneficial ownership financial

"Amount beneficially owned: 13950000 (b) Percent of class: 9.9 %"

Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 04/27/2026 - 07:26 PM Learn about SEC filing dates

FAQ

What stake does BML Investment Partners report in Aclaris Therapeutics (ACRS)?

BML Investment Partners reports beneficial ownership of 13,950,000 shares, equal to 9.9% of the outstanding common stock. The percentage is based on 139,663,680 shares outstanding as disclosed on a DEF 14A filed 4/23/2026.

Does BML have sole voting or dispositive power over the reported ACRS shares?

No. The filing shows 0 shares with sole voting power and 13,950,000 shares with shared voting and dispositive power, indicating the position is exercised jointly or indirectly, per the Schedule 13G/A disclosure.

Who is the reporting person and how is indirect ownership described?

The reporting person is BML Investment Partners, L.P.. The signature explains that BML Capital Management, LLC is the sole general partner and Braden M. Leonard is the managing member, making him an indirect owner of the shares.

Is BML Investment Partners claiming to be part of a statutory group for ACRS holdings?

No. The filing includes a disclosure that, despite shared beneficial ownership, the reporting persons disclaim that they constitute a statutory group under Rule 13d-5(b)(1), as stated in the signature commentary.

What document is the ownership percentage tied to in the filing?

The 9.9% ownership calculation is tied to 139,663,680 shares outstanding, which the filing cites as disclosed by the issuer on a DEF 14A filed on 4/23/2026. This provides the time anchor for the percentage.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 5)

Aclaris Therapeutics, Inc.

(Name of Issuer)

Common Stock, $0.00001 par value

(Title of Class of Securities)

00461U105

(CUSIP Number)

04/23/2026

(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)

Rule 13d-1(d)

schemaVersion:

SCHEDULE 13G

CUSIP Number(s): 00461U105

1

Names of Reporting Persons

BML Investment Partners, L.P.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 13,950,000.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 13,950,000.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

13,950,000.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

9.9 %

12

Type of Reporting Person (See Instructions)

PN

Comment for Type of Reporting Person: Percentage ownership is based on 139,663,680 shares outstanding as disclosed by the Issuer on form DEF 14A filed on 4/23/26.

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Aclaris Therapeutics, Inc.
(b)	Address of issuer's principal executive offices: 701 Lee Road, Suite 103, Wayne, Pennsylvania, 19087
Item 2.
(a)	Name of person filing: BML Investment Partners, L.P.
(b)	Address or principal business office or, if none, residence: 65 E Cedar - Suite 2 Zionsville, IN 46077
(c)	Citizenship: Delaware
(d)	Title of class of securities: Common Stock, $0.00001 par value
(e)	CUSIP No.: 00461U105
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 13950000
(b)	Percent of class: 9.9 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 0
	(ii) Shared power to vote or to direct the vote: 13950000
	(iii) Sole power to dispose or to direct the disposition of: 0
	(iv) Shared power to dispose or to direct the disposition of: 13950000
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 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 Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

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.

BML Investment Partners, L.P.

Signature:	Braden M Leonard
Name/Title:	BML Capital Management, LLC its General Partner By: Braden M Leonard, its Managing Member
Date:	04/27/2026

Comments accompanying signature: BML Investment Partners, L.P. is a Delaware limited partnership whose sole general partner is BML Capital Management, LLC. The managing member of BML Capital Management, LLC is Braden M. Leonard. As a result, Braden M. Leonard is deemed to be the indirect owner of the shares held directly by BML Investment Partners, L.P. Despite such shared beneficial ownership, the reporting persons disclaim that they constitute a statutory group within the meaning of Rule 13d-5(b)(1) of the Exchange Act.