Nantahala’s 8.53% Anebulo (ANEB) stake detailed in Schedule 13G/A

Rhea-AI Filing Summary

Nantahala Capital Management, LLC and its principals Wilmot B. Harkey and Daniel Mack report beneficial ownership of 3,547,398 shares of Anebulo Pharmaceuticals common stock, equal to 8.53% of the outstanding shares as of December 31, 2025.

The filing states these shares are held through funds and separately managed accounts Nantahala controls and include 511,073 shares issuable upon warrant exercise within sixty days. The reporting persons certify the position is held in the ordinary course of business and not for the purpose of changing or influencing control of Anebulo.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 1)

ANEBULO PHARMACEUTICALS, INC.

(Name of Issuer)

Common Stock

(Title of Class of Securities)

034569103

(CUSIP Number)

12/31/2025

(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)

SCHEDULE 13G

CUSIP No. 034569103

1

Names of Reporting Persons

Nantahala Capital Management, LLC

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

MASSACHUSETTS

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 3,547,398.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 3,547,398.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

3,547,398.00

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)

8.53 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

CUSIP No. 034569103

1

Names of Reporting Persons

Wilmot B. Harkey

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

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 3,547,398.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 3,547,398.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

3,547,398.00

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)

8.53 %

12

Type of Reporting Person (See Instructions)

HC

SCHEDULE 13G

CUSIP No. 034569103

1

Names of Reporting Persons

Daniel Mack

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

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 3,547,398.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 3,547,398.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

3,547,398.00

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)

8.53 %

12

Type of Reporting Person (See Instructions)

HC

SCHEDULE 13G

Item 1.
(a)	Name of issuer: ANEBULO PHARMACEUTICALS, INC.
(b)	Address of issuer's principal executive offices: 1017 RANCH ROAD 620 SOUTH SUITE 107 LAKEWAY, TEXAS, 78734
Item 2.
(a)	Name of person filing: (1) Nantahala Capital Management, LLC ("Nantahala") (2) Wilmot B. Harkey (3) Daniel Mack (together the "Reporting Persons")
(b)	Address or principal business office or, if none, residence: 130 Main St. 2nd Floor, New Canaan, Connecticut 06840
(c)	Citizenship: (1) Nantahala is a Massachusetts limited liability company. (2) Each of Messrs. Harkey and Mack is a citizen of the United States of America.
(d)	Title of class of securities: Common Stock
(e)	CUSIP No.: 034569103
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: As of December 31, 2025, Nantahala may be deemed to be the beneficial owner of 3,547,398 Shares held by funds and separately managed accounts under its control, and as the managing members of Nantahala, each of Messrs. Harkey and Mack may be deemed to be a beneficial owner of those Shares. The 3,547,398 Shares includes 511,073 Shares which may be acquired by the Reporting Persons within sixty days through the exercise of warrants.
(b)	Percent of class: As of December 31, 2025, each of the Reporting Persons may be deemed to be the beneficial owner of the following percentage of the total number of Shares outstanding: (1) Nantahala Capital Management, LLC ("Nantahala") : 8.53% (2) Wilmot B. Harkey: 8.53% (3) Daniel Mack: 8.53%
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: (1) Nantahala Capital Management, LLC ("Nantahala") : 0 Shares. (2) Wilmot B. Harkey: 0 Shares. (3) Daniel Mack: 0 Shares.
	(ii) Shared power to vote or to direct the vote: (1) Nantahala Capital Management, LLC ("Nantahala") : 3,547,398 Shares. (2) Wilmot B. Harkey: 3,547,398 Shares. (3) Daniel Mack: 3,547,398 Shares.
	(iii) Sole power to dispose or to direct the disposition of: (1) Nantahala Capital Management, LLC ("Nantahala") : 0 Shares. (2) Wilmot B. Harkey: 0 Shares. (3) Daniel Mack: 0 Shares.
	(iv) Shared power to dispose or to direct the disposition of: (1) Nantahala Capital Management, LLC ("Nantahala") : 3,547,398 Shares. (2) Wilmot B. Harkey: 3,547,398 Shares. (3) Daniel Mack: 3,547,398 Shares.
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.
	If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required. BLACKWELL PARTNERS LLC - SERIES A, a fund advised by Nantahala, has the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of more than five percent of the outstanding shares of common stock beneficially owned by Nantahala reported herein.
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	If a parent holding company has filed this schedule, pursuant to Rule 13d-1(b)(ii)(G), so indicate under Item 3(g) and attach an exhibit stating the identity and the Item 3 classification of the relevant subsidiary. If a parent holding company has filed this schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating the identification of the relevant subsidiary. Each of Messrs. Harkey and Mack is filing this Schedule 13G as a control person in respect of shares beneficially owned by Nantahala, an investment adviser as described in ss. 240.13d-1(b)(1)(ii)(E). See Item 4(a).
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 acquired and are held in the ordinary course of business and 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.

Nantahala Capital Management, LLC

Signature:	/s/ Taki Vasilakis
Name/Title:	Taki Vasilakis / Chief Compliance Officer
Date:	02/13/2026

Wilmot B. Harkey

Signature:	/s/ Wilmot B. Harkey
Name/Title:	Wilmot B. Harkey
Date:	02/13/2026

Daniel Mack

Signature:	/s/ Daniel Mack
Name/Title:	Daniel Mack
Date:	02/13/2026

FAQ

What ownership stake in ANEB does Nantahala report in this Schedule 13G/A?

Nantahala Capital Management and its principals report beneficial ownership of 3,547,398 Anebulo Pharmaceuticals common shares, representing 8.53% of the class as of December 31, 2025. This figure includes shares that can be acquired through warrant exercises within sixty days.

Who are the reporting persons in the Anebulo (ANEB) Schedule 13G/A filing?

The reporting persons are Nantahala Capital Management, LLC, and its managing members Wilmot B. Harkey and Daniel Mack. They may be deemed beneficial owners of the same 3,547,398 Anebulo shares held in funds and accounts managed by Nantahala.

How many ANEB shares in the reported stake are tied to warrants?

Out of the 3,547,398 Anebulo shares reported, 511,073 shares may be acquired within sixty days through the exercise of warrants. These warrant shares are included in the total beneficial ownership percentage of 8.53% disclosed for each reporting person.

Is Nantahala seeking to influence control of Anebulo Pharmaceuticals (ANEB)?

The reporting persons certify the Anebulo shares were acquired and are held in the ordinary course of business. They state the holdings are not for the purpose of changing or influencing control of Anebulo and are not part of a control-related transaction.

What voting and dispositive power do the reporting persons have over ANEB shares?

Each reporting person reports 0 shares with sole voting or dispositive power and 3,547,398 shares with shared voting and shared dispositive power. This means decisions to vote or sell the Anebulo shares are made on a shared, not individual, basis.

What role does Blackwell Partners LLC - Series A play in the ANEB holdings?

The filing notes that Blackwell Partners LLC - Series A, a fund advised by Nantahala, has the right to receive or direct dividends or sale proceeds from more than five percent of Anebulo’s outstanding common stock beneficially owned by Nantahala as reported.