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Baird Medical Investment Holdings Ltd (BDMD) is the issuer whose securities L1 Capital Global Opportunities Master Fund, Ltd. reported beneficially owning 3,551,868 ordinary shares. That amount comprises 110,070 ordinary shares and 3,441,798 shares issuable upon conversion of a Senior 8% Original Issue Discount Convertible Promissory Note, subject to a 9.99% beneficial ownership limitation. The fund reported 9.99% of the class, based on 33,612,440 ordinary shares outstanding as of September 24, 2026. The fund’s directors, David Feldman and Joel Arber, may also be deemed beneficial owners; both disclaim beneficial ownership for all other purposes.
Key Figures
Beneficially owned:3,551,868 ordinary sharesOrdinary shares:110,070 sharesShares issuable upon note conversion:3,441,798 shares+3 more
6 metrics
Beneficially owned3,551,868 ordinary sharesReported by L1 Capital Global Opportunities Master Fund, Ltd.
Ordinary shares110,070 sharesIncluded in the reported beneficial ownership amount
Shares issuable upon note conversion3,441,798 sharesIncluded in the reported beneficial ownership amount
Beneficial ownership limitation9.99%Limitation applicable to shares issuable upon conversion
Ordinary shares outstanding33,612,440 sharesAs of September 24, 2026
Additional shares excluded2,475,826 ordinary sharesIssuable upon conversion of a Senior 8% Original Issue Discount Convertible Promissory Note
Key Terms
beneficial ownership limitation, Original Issue Discount Convertible Promissory Note, sole dispositive power, Rule 13d-3
4 terms
beneficial ownership limitationregulatory
"subject to a 9.99% beneficial ownership limitation"
A beneficial ownership limitation is a rule that caps the percentage of a company’s shares an investor can be treated as owning or controlling for voting, regulatory or tax purposes. It matters to investors because it can restrict how many shares a person or group can buy or vote, affect takeover chances, and influence share liquidity and value — like a speed limit that prevents any single driver from taking over the whole road.
Original Issue Discount Convertible Promissory Notefinancial
"Senior 8% Original Issue Discount Convertible Promissory Note"
sole dispositive powerregulatory
"Sole power to dispose or to direct the disposition"
Sole dispositive power is the exclusive legal authority to decide what happens to a security — for example, whether to sell, transfer, or retain shares — without needing anyone else’s permission. Investors care because it signals who truly controls the economic outcome of an investment: like holding the only key to a safe, the holder can realize gains or losses and may trigger regulatory reporting, insider rules, or influence over corporate ownership.
Rule 13d-3regulatory
"as that term is defined in Rule 13d-3"
Rule 13d-3 defines who is treated as the beneficial owner of a company’s shares for U.S. securities disclosure rules — essentially anyone who has the power to vote or direct how shares are voted, or the power to buy or sell them, even if they don’t hold the certificates. For investors this matters because crossing certain ownership thresholds triggers public filing and disclosure obligations and signals potential control or influence, much like having the keys to a car implies you can drive it even if it’s registered to someone else.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
How many BDMD shares does L1 Capital report beneficially owning?
L1 Capital Global Opportunities Master Fund, Ltd. reported beneficial ownership of 3,551,868 ordinary shares. The amount comprises 110,070 ordinary shares and 3,441,798 shares issuable upon conversion of a Senior 8% Original Issue Discount Convertible Promissory Note, subject to a 9.99% beneficial ownership limitation.
What BDMD shares are excluded from L1 Capital’s reported ownership?
The reported amount excludes an additional 2,475,826 ordinary shares issuable upon conversion of a Senior 8% Original Issue Discount Convertible Promissory Note. Those shares are subject to a 9.99% beneficial ownership limitation.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
Baird Medical Investment Holdings Ltd
(Name of Issuer)
Ordinary Shares, $0.0001 par value
(Title of Class of Securities)
G0705H103
(CUSIP Number)
09/24/2026
(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):
G0705H103
1
Names of Reporting Persons
L1 Capital Global Opportunities Master Fund, Ltd.
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
CAYMAN ISLANDS
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
3,551,868.00
6
Shared Voting Power
0.00
7
Sole Dispositive Power
3,551,868.00
8
Shared Dispositive Power
0.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
3,551,868.00
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)
FI
SCHEDULE 13G
Item 1.
(a)
Name of issuer:
Baird Medical Investment Holdings Ltd
(b)
Address of issuer's principal executive offices:
Room 202, 2/F, Baide Building, Building 11, No.15, Rongtong Street, Yuexiu District, Guangzhou, Peoples Republic of China
Item 2.
(a)
Name of person filing:
L1 Capital Global Opportunities Master Fund, Ltd.
(b)
Address or principal business office or, if none, residence:
3rd Floor, Citrus Grove Building, 106 Goring Ave.
George Town
PO Box 10085
Grand Cayman, Cayman Islands KY1-1001
(c)
Citizenship:
Cayman Islands
(d)
Title of class of securities:
Ordinary Shares, $0.0001 par value
(e)
CUSIP Number(s):
G0705H103
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:
3,551,868
The amounts in Row (5), (7) and (9) represent 110,070 Ordinary Shares and 3,441,798 Ordinary Shares issuable upon conversion of a Senior 8% Original Issue Discount Convertible Promissory Note, subject to a 9.99% beneficial ownership limitation. The amounts do not include an additional 2,475,826 Ordinary Shares issuable upon conversion of a Senior 8% Original Issue Discount Convertible Promissory Note, subject to a 9.99% beneficial ownership limitation The percentage set forth on Row (11) of the cover page for the Reporting Person is based on 33,612,440 Ordinary Shares outstanding, based on the Issuer's Prospectus Supplement under Rule 424(b)(5), filed with the Securities and Exchange Commission on September 24, 2026.
David Feldman and Joel Arber are the Directors of L1 Capital Global Opportunities Master Fund, Ltd. As such, L1 Capital Global Opportunities Master Fund, Ltd., Mr. Feldman, and Mr. Arber may be deemed to beneficially own (as that term is defined in Rule 13d-3 under the Securities Exchange Act of 1934) the issuer's securities described herein. To the extent Mr. Feldman and Mr. Arber are deemed to beneficially own such securities, Mr. Feldman and Mr. Arber disclaim beneficial ownership of these securities for all other purposes.
(b)
Percent of class:
9.99%
(c)
Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
3,551,868
(ii) Shared power to vote or to direct the vote:
0
(iii) Sole power to dispose or to direct the disposition of:
3,551,868
(iv) Shared power to dispose or to direct the disposition of:
0
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.
