[SCHEDULE 13D/A] Artivion, Inc. SEC Filing

Rhea-AI Filing Summary

Juniper Investment-affiliated reporting persons amended their Schedule 13D to report a decrease in their beneficial ownership of Artivion, Inc. common stock to 1,864,449 shares, representing approximately 4.0% of outstanding shares as of the record date. Between June 17, 2025 and August 11, 2025 Juniper Targeted Opportunities, L.P. sold 233,715 shares in the open market for an aggregate sale price of approximately $9,540,725, which includes brokerage commissions. Percentages are calculated using 47,183,656 shares outstanding as of August 1, 2025.

The filing breaks out ownership by entity: Juniper Fund holds 1,473,656 shares (about 3.1%), Juniper Targeted Opportunities holds 377,308 shares (about 0.8%), and Juniper Multi-Strategy holds 13,485 shares (about 0.0%). Juniper Investment Company and the named managing members may be deemed to beneficially own the aggregate shares but disclaim ownership for other purposes. The amendment references a Joint Filing Agreement and a schedule of transactions as exhibits.

Positive

• Transparent disclosure: The Reporting Persons filed an amendment to disclose the sale and updated beneficial ownership figures.
• Current ownership reported: Aggregate beneficial ownership of 1,864,449 shares, representing approximately 4.0% of outstanding shares as of the record date.
• Transaction details provided: The amendment specifies the number of shares sold (233,715) and the aggregate sale proceeds (approximately $9,540,725 including commissions).

Negative

• Reduction in stake: Reporting Persons sold shares, resulting in a decreased beneficial ownership percentage.
• Concentrated disposals: 233,715 shares were sold in the open market between June 17, 2025 and August 11, 2025 for approximately $9,540,725, reducing the group’s position.

Insights

Financial Analyst

TL;DR: Juniper disclosed an open-market sale reducing its Artivion stake to 4.0% after selling 233,715 shares for about $9.54M.

The amendment reports a non-controlling but material passive position of 1,864,449 shares, calculated on 47,183,656 shares outstanding as of August 1, 2025. The sale generated approximately $9.54 million including commissions and occurred in the open market between June 17, 2025 and August 11, 2025. The filing clarifies which affiliated entities hold voting and dispositive power and identifies the named managing members who signed the amendment.

Corporate Governance Expert

TL;DR: The Schedule 13D/A updates ownership, voting and dispositive allocations among related Juniper entities and attaches required exhibits for transparency.

The filing details entity-level holdings and explicitly states which entities have sole voting and dispositive power over their respective shares while noting that Juniper Investment Company and the managing members may be deemed to beneficially own the aggregate shares but disclaim ownership for other purposes. Exhibits include a Joint Filing Agreement and a schedule of transactions, ensuring coordinated disclosure by the group.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 1)

Artivion, Inc.

(Name of Issuer)

Common Stock, $0.01 par value

(Title of Class of Securities)

228903100

(CUSIP Number)

John A. Bartholdson
Juniper Investment Company, LLC, 555 Madison Avenue, 24th Floor
New York, NY, 10022
(212) 339-8500

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

08/08/2025

(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.

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).

SCHEDULE 13D

CUSIP No. 228903100

1

Name of reporting person

Juniper Targeted Opportunity Fund, L.P.

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

WC

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 1,473,656.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 1,473,656.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

1,473,656.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

3.1 %

14

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13D

CUSIP No. 228903100

1

Name of reporting person

Juniper HF Investors II, LLC

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

WC

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 1,473,656.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 1,473,656.00

11

Aggregate amount beneficially owned by each reporting person

1,473,656.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

3.1 %

14

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13D

CUSIP No. 228903100

1

Name of reporting person

Juniper Targeted Opportunities, L.P.

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

WC

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 377,308.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 377,308.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

377,308.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

0.8 %

14

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13D

CUSIP No. 228903100

1

Name of reporting person

Juniper Targeted Opportunity Investors, LLC

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

WC

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 377,308.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 377,308.00

11

Aggregate amount beneficially owned by each reporting person

377,308.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

0.8 %

14

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13D

CUSIP No. 228903100

1

Name of reporting person

Juniper Multi-Strategy Fund, L.P.

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

WC

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 13,485.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 13,485.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

13,485.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

0.0 %

14

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13D

CUSIP No. 228903100

1

Name of reporting person

Juniper HF Investors, LLC

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

WC

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 13,485.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 13,485.00

11

Aggregate amount beneficially owned by each reporting person

13,485.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

0.0 %

14

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13D

CUSIP No. 228903100

1

Name of reporting person

Juniper Investment Company, LLC

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

WC

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 1,864,449.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 1,864,449.00

11

Aggregate amount beneficially owned by each reporting person

1,864,449.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

4.0 %

14

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13D

CUSIP No. 228903100

1

Name of reporting person

Alexis P. Michas

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 1,864,449.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 1,864,449.00

11

Aggregate amount beneficially owned by each reporting person

1,864,449.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

4.0 %

14

Type of Reporting Person (See Instructions)

IN

SCHEDULE 13D

CUSIP No. 228903100

1

Name of reporting person

John A. Bartholdson

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 1,864,449.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 1,864,449.00

11

Aggregate amount beneficially owned by each reporting person

1,864,449.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

4.0 %

14

Type of Reporting Person (See Instructions)

IN

SCHEDULE 13D

Item 1.	Security and Issuer
(a)	Title of Class of Securities: Common Stock, $0.01 par value
(b)	Name of Issuer: Artivion, Inc.
(c)	Address of Issuer's Principal Executive Offices: 1655 Roberts Boulevard NW, Kennesaw, GEORGIA , 30144.
Item 1 Comment: This Amendment is being filed to report a decrease in the Reporting Persons' beneficial ownership percentage due to the sale of Shares by the Reporting Persons. The Reporting Persons beneficially own an aggregate of 1,864,449 Shares the "Subject Shares").
Item 2.	Identity and Background
(a)	This Schedule 13D is being filed by: (i) Juniper Targeted Opportunity Fund, L.P., a Delaware limited partnership ("Juniper Fund"); (ii) Juniper HF Investors II, LLC, a Delaware limited liability company and the general partner of Juniper Fund ("Juniper HF II"); (iii) Juniper Targeted Opportunities, L.P., a Delaware limited partnership ("Juniper Targeted Opportunities"); (iv) Juniper Targeted Opportunity Investors, LLC, a Delaware limited liability company and the general partner of Juniper Targeted Opportunities ("Juniper TO"); (v) Juniper Multi-Strategy Fund, L.P., a Delaware limited partnership (Juniper Multi-Strategy"); (vi) Juniper HF Investors, LLC, a Delaware limited liability company and the general partner of Juniper Multi-Strategy ("Juniper HF"); (vii) Juniper Investment Company, LLC, a Delaware limited liability company and the investment advisor to Juniper Fund, Juniper Targeted Opportunities, and Juniper Multi-Strategy ("Juniper Investment Company"); (viii) Alexis P. Michas, as a managing member of each of Juniper HF II, Juniper TO, Juniper HF, and Juniper Investment Company; and (ix) John A. Bartholdson, as a managing member of each of Juniper HF II, Juniper TO, Juniper HF, and Juniper Investment Company. Each of the foregoing is referred to herein as a "Reporting Person" and together as the "Reporting Persons."
(b)	555 Madison Avenue, 24th Floor, New York, New York 10022
(c)	The principal business of each of Juniper Fund and Juniper Targeted Opportunities is to invest in the capital stock of various companies. The principal business of Juniper HF II is to serve as the general partner of Juniper Fund. The principal business of Juniper TO is to serve as the general partner of Juniper Targeted Opportunities. Juniper Investment Company provides investment advisory, and management services and acts as the investment manager of Juniper Fund and Juniper Targeted Opportunities. Each of Messrs. Michas and Bartholdson serves as managing member of Juniper HF II, Juniper TO, and Juniper Investment Company.
(d)	During the past five years, none of the Reporting Persons has been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors).
(e)	During the last five years, none of the Reporting Persons has been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws.
(f)	Each of Messrs. Michas and Bartholdson is a United States citizen.
Item 3.	Source and Amount of Funds or Other Consideration
	Item 3 is hereby amended and supplemented by adding the following information: As of the date hereof, the Reporting Persons are deemed to beneficially own the Subject Shares as detailed in Items 1 and 5.
Item 4.	Purpose of Transaction
	Item 4 is hereby amended and supplemented by adding the following information. Between June 17, 2025, and August 11, 2025, Juniper Targeted Opportunities, L.P. sold 233,715 shares at an aggregate sale price of approximately $9,540,725, which includes brokerage commissions, in the open market.
Item 5.	Interest in Securities of the Issuer
(a)	The responses of the Reporting Persons to rows (7) through (13) of the cover pages of this Schedule 13D are incorporated herein by reference. (a) The percentages of ownership indicated in this Schedule 13D are calculated based on 47,183,656 Shares of Common Stock, par value $0.01 per share, reported as outstanding as of August 1, 2025 (the "Record Date"), in the Issuer's Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2025, as filed with the United States Securities and Exchange Commission on August 8, 2025. As of the date of this Schedule 13D, the Reporting Persons collectively held an aggregate of 1,864,449 Shares, constituting approximately 4.0% of the Issuer's outstanding Shares as of the Record Date. As of the date of this Schedule 13D, each Reporting Person may be deemed to have direct beneficial ownership of the Shares as follows: (i) Juniper Fund beneficially owned 1,473,656 Shares, constituting approximately 3.1% of the Issuer's outstanding Shares as of the Record Date. (ii) Juniper Targeted Opportunities beneficially owned 377,308 Shares, constituting approximately 0.8% of the Issuer's outstanding shares as of the Record Date. (iii) Juniper Multi-Strategy beneficially owned 13,485 Shares, constituting approximately 0.0% of the Issuer's outstanding shares as of the Record Date. (iv) Juniper HF II, as the general partner of Juniper Fund, may be deemed to own beneficially (as that term is defined in Rule 13d-3 under the Securities Exchange Act of 1934) the 1,473,656 Shares held by Juniper Fund, constituting approximately 3.1% of the Issuer's outstanding Shares as of the Record Date. Juniper HF II disclaims beneficial ownership of such Shares for all other purposes. (v) Juniper TO, as the general partner of Juniper Targeted Opportunities, may be deemed to beneficially (as that term is defined in Rule 13d-3 under the Securities Exchange Act of 1934) the 377,308 Shares held by Juniper Targeted Opportunities, constituting approximately 0.8% of the Issuer's outstanding Shares as of the Record Date. Juniper TO disclaims beneficial ownership of such Shares for all other purposes. (vi) Juniper HF, as the general partner of Juniper Multi-Strategy, may be deemed to beneficially (as that term is defined in Rule 13d-3 under the Securities Exchange Act of 1934) the 13,485 Shares held by Juniper Multi-Strategy, constituting approximately 0.0% of the Issuer's outstanding Shares as of the Record Date. Juniper HF disclaims beneficial ownership of such Shares for all other purposes. (vii) Juniper Investment Company, as the investment advisor of Juniper Fund, Juniper Targeted Opportunities, and Juniper Multi-Strategy, may be deemed to own beneficially (as that term is defined in Rule 13-d under the Securities Exchange Act of 1934) the 1,864,449 Shares collectively and directly held by each of Juniper Fund, Juniper Targeted Opportunities, and Juniper Multi-Strategy, constituting approximately 4.0% of the Issuer's outstanding Shares as of the Record Date. Juniper Investment Company disclaims beneficial ownership of such Shares for all other purposes. (viii) Each of Messrs. Michas and Bartholdson, as the managing member of Juniper HF II, Juniper TO, Juniper HF, and Juniper Investment Company, may be deemed to own beneficially (as that term is defined in Rule 13d-3 under the Securities Exchange Act of 1934) the 1,864,449 Shares held by Juniper Fund, Juniper Targeted Opportunities, Juniper Multi-Strategy, and Juniper Investment Company, constituting approximately 4.0% of the then outstanding Shares. Each of Messrs. Michas and Bartholdson disclaims beneficial ownership of such Shares for all other purposes.
(b)	Each of Juniper Fund, Juniper Targeted Opportunities, and Juniper Multi-Strategy has the sole power to vote or direct their respective vote of 1,473,656, 377,656, and 13,485 Shares and the sole power to dispose or direct the disposition of such Shares. Juniper HF II, Juniper TO, Juniper HF, Juniper Investment Company, and each of Messrs. Michas and Bartholdson may be deemed to share with Juniper Fund, Juniper Targeted Opportunities, and Juniper Multi-Strategy, as applicable, the power to vote or to direct the vote and to dispose or to direct the disposition of such Shares.
(c)	The transactions in the Shares by the Reporting Persons during the past sixty days are set forth in Schedule A attached hereto and incorporated by reference.
(d)	To the knowledge of the Reporting Persons, no person other than the Reporting Persons has the right to receive or the power to direct the receipt of dividends from, or proceeds from the sale of, the Shares that are the subject of this Schedule 13D.
(e)	Not applicable
Item 6.	Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer
	The response to Item 3 is incorporated herein by reference. Except as described in this Schedule 13D or incorporated by reference in this Schedule 13D, there are no contracts, arrangements, understandings or relationships (legal or otherwise) between any of the Reporting Persons or between any of the Reporting Persons and any other person with respect to any securities of the Issuer, including, but not limited to, transfer or voting of any securities, finder's fees, joint ventures, loan or option arrangements, puts or calls, guarantees of profits, division of profits or losses, or the giving or withholding of proxies.
Item 7.	Material to be Filed as Exhibits.
	Exhibit B: Joint Filing Agreement A Joint Filing Agreement (incorporated by reference herein to Exhibit B of the Schedule 13D Amendment No.1 filed by the Reporting Persons on December 1, 2022). Exhibit C: Schedule of Transactions

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.

Juniper Targeted Opportunity Fund, L.P.

Signature:	/s/ John A. Bartholdson
Name/Title:	Managing Member of its General Partner, Juniper HF Investors II, LLC
Date:	08/11/2025

Juniper HF Investors II, LLC

Signature:	/s/ John A. Bartholdson
Name/Title:	Managing Member
Date:	08/11/2025

Juniper Targeted Opportunities, L.P.

Signature:	/s/ John A. Bartholdson
Name/Title:	Managing Member of its General Partner, Juniper Targeted Opportunity Investors, LLC
Date:	08/11/2025

Juniper Targeted Opportunity Investors, LLC

Signature:	/s/ John A. Bartholdson
Name/Title:	Managing Member
Date:	08/11/2025

Juniper Multi-Strategy Fund, L.P.

Signature:	/s/ John A. Bartholdson
Name/Title:	Managing Member of its General Partner, Juniper HF Investors
Date:	08/11/2025

Juniper HF Investors, LLC

Signature:	/s/ John A. Bartholdson
Name/Title:	Managing Member
Date:	08/11/2025

Juniper Investment Company, LLC

Signature:	/s/ John A. Bartholdson
Name/Title:	Managing Member
Date:	08/11/2025

Alexis P. Michas

Signature:	/s/ Alexis P. Michas
Name/Title:	Alexis P. Michas
Date:	08/11/2025

John A. Bartholdson

Signature:	/s/ John A. Bartholdson
Name/Title:	John P. Bartholdson
Date:	08/11/2025

FAQ

What stake does Juniper report in Artivion (AORT)?

The Reporting Persons collectively beneficially own 1,864,449 shares, representing approximately 4.0% of Artivion's outstanding common stock based on 47,183,656 shares as of the August 1, 2025 record date.

How many shares did Juniper sell and for how much?

Juniper Targeted Opportunities, L.P. sold 233,715 shares in the open market for an aggregate sale price of approximately $9,540,725, including brokerage commissions, between June 17, 2025 and August 11, 2025.

Which Juniper entities hold Artivion shares and what are their amounts?

Juniper Targeted Opportunity Fund, L.P. holds 1,473,656 shares (about 3.1%), Juniper Targeted Opportunities, L.P. holds 377,308 shares (about 0.8%), and Juniper Multi-Strategy Fund, L.P. holds 13,485 shares (about 0.0%).

Who are the reporting persons and signatories on the filing?

The filing is by multiple Juniper entities and individuals, including Juniper Investment Company, LLC and managing members Alexis P. Michas and John A. Bartholdson. Contact details for notices include Juniper Investment Company, LLC at 555 Madison Avenue, 24th Floor, New York, NY 10022 and phone (212) 339-8500.

What exhibits were filed with the Schedule 13D/A?

Exhibit B: Joint Filing Agreement (incorporated by reference) and Exhibit C: Schedule of Transactions.