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Bioceres Group Lowers BIOX Ownership; Still Holds Quarter of Shares

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
SCHEDULE 13D/A

Rhea-AI Filing Summary

Bioceres Group Limited and affiliates trimmed their stake in Bioceres Crop Solutions Corp. (BIOX) in Schedule 13D/A Amendment No. 15 dated 08 Aug 2025. The group’s beneficial ownership fell to 15,497,402 ordinary shares, equal to 24.7 % of BIOX’s 62,848,483 shares outstanding, down from 18,561,323 shares previously reported. The reduction—≈ 6.14 million shares—resulted from open-market sales and enforcement of pledge agreements executed under the New York UCC to satisfy financial obligations.

Breakdown of holdings: Bioceres Group Limited holds 70,785 shares directly and, through subsidiaries, shares voting/dispositive power over 15.4 million. Subsidiaries Bioceres LLC and THEO I SCSp own 14,989,117 (23.8 %) and 437,500 (0.7 %) shares, respectively. Of the total, 3,076,079 shares are subject to a 2019 Shareholders Agreement giving the group shared voting rights.

Key takeaways for investors: (1) Bioceres entities remain BIOX’s largest shareholder but have reduced influence by ~4.8 percentage points; (2) Sale was motivated by obligation settlement, not stated strategic change; (3) No new plans or proposals affecting BIOX were disclosed.

Positive

  • Bioceres entities remain BIOX’s largest shareholder with 24.7 % ownership, preserving substantial strategic influence.
  • Filing clarifies no current plans or proposals affecting corporate control, reducing uncertainty.

Negative

  • Stake reduced by approximately 6.14 million shares, lowering insider alignment and potentially increasing float.
  • Sales driven by obligation settlement and pledge enforcement may indicate financial pressure on the reporting persons.

Insights

TL;DR: Ownership cut by ~6.1 M shares; stake still sizeable at 24.7 %, but insider selling often skews negative.

The filing is impactful because it discloses a material decrease in the largest shareholder’s position. Although the group explains the sales were to meet financial obligations, the transaction lowers alignment between insiders and minority holders and marginally dilutes voting influence. With 24.7 % ownership, the group continues to exert meaningful sway, especially through the 3.1 M shares covered by the shareholders’ agreement. No future corporate actions are signalled, limiting immediate strategic implications, yet the reduced stake could ease potential overhang risk if further disposals occur.

TL;DR: Material but manageable; liquidity improves, control wanes modestly—overall neutral-to-slightly negative for BIOX sentiment.

From a portfolio standpoint, the ~4.8-pt drop in insider ownership is noteworthy because large blocks entering the market can pressure share price and signal changed capital needs. However, retaining nearly one-quarter of shares keeps governance stability and suggests continued strategic interest. The lack of additional plans limits downside catalysts. Given the explanation of pledge enforcement, the move appears opportunistic rather than a vote of no confidence, but investors should monitor for further sales.






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




Comment for Type of Reporting Person:
Bioceres Group Limited may be deemed to be the ultimate beneficial owner of Shares held by Bioceres LLC and THEO I SCSp as Bioceres LLC is an indirect wholly-owned subsidiary of Bioceres Group Limited, and Bioceres Group Limited owns 96.2 percent of the outstanding equity securities of THEO I SCSp. Row 8 includes 3,076,079 shares that Bioceres LLC has shareholder rights over pursuant to the Shareholders Agreement, dated as of March 5, 2019, by and between Bioceres LLC, Pedro Enrique Mac Mullen, Maria Marta Mac Mullen and International Property Services Corp. See Exhibit 10.1.


SCHEDULE 13D




Comment for Type of Reporting Person:
Bioceres LLC is an indirect wholly-owned subsidiary of Bioceres Group Limited. As a result, Bioceres Group Limited may be deemed to be the ultimate beneficial owner of Shares held by Bioceres LLC Row 8 includes 3,076,079 shares that Bioceres LLC has shareholder rights over pursuant to the Shareholders Agreement, dated as of March 5, 2019, by and between Bioceres LLC, Pedro Enrique Mac Mullen, Maria Marta Mac Mullen and International Property Services Corp. See Exhibit 10.1.


SCHEDULE 13D




Comment for Type of Reporting Person:
Bioceres Group Limited owns 96.2 percent of the outstanding equity securities of THEO I SCSp. As a result, Bioceres Group Limited may be deemed to be the ultimate beneficial owner of Shares held by THEO I SCSp.


SCHEDULE 13D


Bioceres Group Limited
Signature:/s/ Gloria Montaron Estrada
Name/Title:Gloria Montaron Estrada/ Attorney-in-Fact
Date:08/07/2025
Bioceres LLC
Signature:/s/ Gloria Montaron Estrada
Name/Title:Gloria Montaron Estrada/ Manager
Date:08/07/2025
THEO I SCSp
Signature:/s/ Gloria Montaron Estrada
Name/Title:Gloria Montaron Estrada/ Attorney-in-Fact
Date:08/07/2025

FAQ

How many Bioceres Crop Solutions (BIOX) shares do the reporting persons now own?

They beneficially own 15,497,402 ordinary shares, according to Amendment No. 15.

What percentage of BIOX’s outstanding shares does this represent?

The stake equals 24.7 % of the 62,848,483 shares outstanding reported in BIOX’s latest 20-F.

By how many shares did the Bioceres group’s ownership decrease?

Holdings fell from 18,561,323 to 12,421,323 shares not under the shareholder agreement, a drop of about 6.14 million.

Why did the reporting persons sell BIOX shares?

The filing cites open-market sales and enforcement of pledge agreements to settle financial obligations.

Do the reporting persons plan further corporate actions regarding BIOX?

The amendment states no current plans or proposals related to takeovers, mergers or similar actions.
Bioceres Crop Solutions Corp

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