[144] ANI Pharmaceuticals, Inc. SEC Filing

Rhea-AI Filing Summary

ANI Pharmaceuticals (ANIP) Form 144 notice reports a proposed sale of 29,580 common shares through Morgan Stanley Smith Barney on 08/18/2025, with an aggregate market value of $2,612,419.82 and total shares outstanding listed as 21,688,772. The filer acquired these shares on 11/19/2021 as convertible preferred shares from the issuer and paid in cash. The filing also discloses a recent sale of 91,000 shares on 08/15/2025 generating $7,866,267.50. The notice includes the standard representation that the seller is unaware of undisclosed material adverse information.

Positive

• Transparent disclosure of proposed sale: 29,580 shares scheduled for sale on 08/18/2025 via Morgan Stanley Smith Barney
• Origin of shares disclosed: acquired 11/19/2021 as convertible preferred shares from the issuer and paid in cash
• Includes recent prior sale details: 91,000 shares sold on 08/15/2025 for $7,866,267.50, enabling investors to see trading activity

Negative

• Material insider selling in mid-August 2025 totaling 120,580 shares (29,580 proposed + 91,000 sold), representing significant supply
• Aggregate proceeds exceed $10M for August 2025 transactions ($2,612,419.82 proposed + $7,866,267.50 realized), which could affect market sentiment

Insights

Financial Analyst

TL;DR: Routine insider sale notice disclosing sizeable dispositions totaling over $10M in August 2025; neutral to modestly negative for sentiment.

The Form 144 shows a planned brokered sale of 29,580 common shares valued at $2.61M and a prior sale of 91,000 shares for $7.87M three days earlier. These transactions are sales by a person who acquired the shares via convertible preferred shares on 11/19/2021. For investors, the filing is a clear, compliant disclosure of insider selling activity; it does not provide operational or financial performance data. The magnitude of aggregated August sales (> $10M) could influence near-term market supply and sentiment but the form itself contains no forward-looking statements or performance metrics.

Corporate Governance Expert

TL;DR: Form 144 is a standard regulatory disclosure showing insider liquidity events; no governance breaches or undisclosed material facts are asserted.

The filer states acquisition via convertible preferred shares and certifies absence of undisclosed material adverse information. The filing documents compliance with Rule 144 procedures by naming the broker and specifying dates, amounts, and proceeds. It does not indicate any unusual governance actions, related-party transactions beyond the acquisition source, or failures to disclose material information. As a disclosure, it meets procedural requirements but provides limited insight into governance intent behind the sales.

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK
Filer CCC
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer

SEC File Number

Address of Issuer

Phone

Name of Person for Whose Account the Securities are To Be Sold

See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.

Relationship to Issuer

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
Common	Morgan Stanley Smith Barney LLC Executive Financial Services 1 New York Plaza 8th Floor New York NY 10004	29580	2612419.82	21688772	08/18/2025	NASDAQ

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
Common	11/19/2021	Convertible Preferred Shares	Issuer			29580	11/19/2021	Cash

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Name and Address of Seller	Title of Securities Sold	Date of Sale	Amount of Securities Sold	Gross Proceeds
AMPERSAND 2020 LIMITED PARTNERSHIP 210 Main Street West Baudette MN 56623	Common	08/15/2025	91000	7866267.50

144: Remarks and Signature

Remarks

Date of Notice

ATTENTION:

The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.

Signature

ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)

FAQ

What does ANIP Form 144 filed here disclose?

The filing discloses a proposed sale of 29,580 common shares on 08/18/2025 valued at $2,612,419.82 and a prior sale of 91,000 shares on 08/15/2025 for $7,866,267.50.

Who is handling the proposed sale of ANIP shares?

The broker named is Morgan Stanley Smith Barney LLC, Executive Financial Services, 1 New York Plaza, 8th Floor, New York, NY.

When and how were the 29,580 ANIP shares acquired?

The shares were acquired on 11/19/2021 as convertible preferred shares from the issuer, with payment recorded as cash on 11/19/2021.

How many ANIP shares are outstanding according to the filing?

The filing lists 21,688,772 shares outstanding.

Does the filing state any undisclosed material adverse information about ANIP?

The signer represents they do not know of any material adverse information not publicly disclosed; no undisclosed issues are stated in the form.