Nantahala holds 4.11M APYX Medical (APYX) shares in 13G/A

Rhea-AI Filing Summary

APYX Medical Corporation received an updated ownership disclosure from Nantahala Capital Management and its principals. As of December 31, 2025, the reporting group may be deemed to beneficially own 4,112,705 shares of APYX common stock, representing 9.99% of the outstanding shares.

This stake includes 138,614 shares that could be acquired within sixty days through warrant exercises. The shares are held in funds and separately managed accounts controlled by Nantahala, with voting and dispositive power shared among Nantahala, Wilmot B. Harkey, and Daniel Mack. The securities are reported as held in the ordinary course of business and not for the purpose of changing or influencing control of APYX.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 1)

APYX MEDICAL CORPORATION

(Name of Issuer)

Common Stock

(Title of Class of Securities)

03837C106

(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. 03837C106

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 4,112,705.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 4,112,705.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

4,112,705.00

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)

9.99 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

CUSIP No. 03837C106

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 4,112,705.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 4,112,705.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

4,112,705.00

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)

9.99 %

12

Type of Reporting Person (See Instructions)

HC

SCHEDULE 13G

CUSIP No. 03837C106

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 4,112,705.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 4,112,705.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

4,112,705.00

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)

9.99 %

12

Type of Reporting Person (See Instructions)

HC

SCHEDULE 13G

Item 1.
(a)	Name of issuer: APYX MEDICAL CORPORATION
(b)	Address of issuer's principal executive offices: 5115 ULMERTON ROAD CLEARWATER, FLORIDA, 33760
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.: 03837C106
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 4,112,705 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 4,112,705 Shares includes 138,614 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") : 9.99% (2) Wilmot B. Harkey: 9.99% (3) Daniel Mack: 9.99%
(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") : 4,112,705 Shares. (2) Wilmot B. Harkey: 4,112,705 Shares. (3) Daniel Mack: 4,112,705 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") : 4,112,705 Shares. (2) Wilmot B. Harkey: 4,112,705 Shares. (3) Daniel Mack: 4,112,705 Shares.
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.
	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 APYX (APYX) does Nantahala report in this Schedule 13G/A?

Nantahala and its principals report beneficial ownership of 4,112,705 APYX shares, equal to 9.99% of the common stock. The position is held through funds and separately managed accounts under Nantahala’s control as of December 31, 2025.

How many APYX (APYX) shares can Nantahala acquire through warrants?

The filing states that the reported stake includes 138,614 APYX shares that may be acquired within sixty days via warrant exercises. These potential shares are counted within the total 4,112,705 shares of beneficial ownership disclosed.

Do Nantahala and its principals control voting and disposition of APYX (APYX) shares?

The reporting persons list 0 shares with sole voting or dispositive power and 4,112,705 shares with shared voting and shared dispositive power. This means decisions over these APYX shares are made jointly under Nantahala’s management structure.

Is Nantahala’s APYX (APYX) position intended to influence control of the company?

The certification states the APYX securities were acquired and are held in the ordinary course of business, not for changing or influencing control. They also are not held in connection with any control-related transaction, aside from activities tied to a specific nomination rule.

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

The filing identifies three reporting persons: Nantahala Capital Management, LLC, and its managing members Wilmot B. Harkey and Daniel Mack. Each may be deemed to beneficially own the same 4,112,705 APYX common shares reported.

What is the key date for the ownership figures in the APYX (APYX) 13G/A?

All ownership figures in the Schedule 13G/A are stated as of December 31, 2025. On that date, Nantahala and its principals each may be deemed to beneficially own 9.99% of APYX Medical Corporation’s outstanding common stock.