Investor boosts Strata Critical Medical warrant stake

Rhea-AI Filing Summary

Velibor Krstic filed an amended Schedule 13D reporting a significant warrant position in Strata Critical Medical, Inc. He beneficially owns 1,139,393 warrants, representing about 12.4% of the 9,166,644 public warrants outstanding as of the issuer’s latest annual report.

Krstic is a Swiss private investor who used approximately 19,380 dollars of personal funds to acquire these warrants, including 374,958 warrants bought on April 8, 2026 at a weighted average price of about 0.011 dollars per warrant. He also holds 26,425 shares of common stock, or roughly 0.03% of the 86,989,143 shares outstanding as of February 24, 2026.

He states that the warrants are significantly undervalued relative to the company’s fundamentals, citing Adjusted EBITDA of 14.1 million dollars and the integration of Keystone Perfusion. Krstic intends to monitor board and management decisions before the May 7, 2026 warrant expiration and may discuss potential actions such as a voluntary exchange offer or amendments to the warrant agreement, while noting no concrete plans under the specified regulatory categories.

Insights

Activism & Governance Analyst

Large warrant holder discloses a 12.4% stake and signals potential activism.

Private investor Velibor Krstic reports ownership of 1,139,393 Strata Critical Medical public warrants, or about 12.4% of the 9,166,644 warrants outstanding. He invested roughly 19,380 dollars, with recent buying on April 8, 2026 at about 0.011 dollars per warrant.

Krstic also holds 26,425 common shares, approximately 0.03% of the 86,989,143 shares outstanding as of February 24, 2026, so his leverage is concentrated in the warrants rather than equity. He believes the warrants are significantly undervalued relative to the issuer’s 14.1 million dollars Adjusted EBITDA and Keystone Perfusion integration.

He indicates a willingness to engage the issuer, sponsor KSL Capital Partners, and other shareholders on options like a voluntary exchange offer or warrant agreement changes before the May 7, 2026 expiration. Any impact depends on future discussions and whether other holders or the company support such initiatives.

Key Figures

Warrants beneficially owned: 1,139,393 warrants Percent of public warrants: 12.4% Total public warrants outstanding: 9,166,644 warrants +6 more

9 metrics

Warrants beneficially owned 1,139,393 warrants As of April 8, 2026

Percent of public warrants 12.4% Of 9,166,644 public warrants outstanding

Total public warrants outstanding 9,166,644 warrants Based on most recent Form 10-K

Common shares held 26,425 shares Acquired July 10, 2024

Percent of common stock 0.03% Of 86,989,143 shares outstanding as of February 24, 2026

Funds used to buy warrants 19,380 dollars Total purchase price for 1,139,393 warrants

Recent purchase price 0.011 dollars per warrant Weighted average on April 8, 2026 for 374,958 warrants

Adjusted EBITDA 14.1 million dollars Cited by investor as valuation support

Warrant expiration date May 7, 2026 Investor monitoring decisions up to this date

Key Terms

beneficially owns, public warrants, Adjusted EBITDA, Exchange Offer, +2 more

6 terms

beneficially owns financial

"the Reporting Person beneficially owns 1,139,393 Warrants, which represent approximately 12.4 percent"

Beneficially owns means a person or entity enjoys the economic benefits and control of a security even if the legal title or registration is held in another name. Think of it like having the keys and profits from a car that is registered to a friend: you use it, benefit from it, and make decisions about it even though the official paperwork lists someone else. For investors, this matters because it reveals who truly controls shares, affects voting power, potential conflicts of interest, and regulatory disclosure obligations.

public warrants financial

"12.4 percent of the 9,166,644 public warrants outstanding"

Public warrants are tradable securities that give the holder the right to buy a company’s stock at a fixed price before a set expiration date. Like a coupon that lets you purchase shares later at a preset price, they matter to investors because using them can bring new cash into the company but also increase the total number of shares outstanding, which can dilute existing ownership and influence the stock’s price and potential gains.

Adjusted EBITDA financial

"considering the Adjusted EBITDA of 14.1 million dollars and the successful integration"

Adjusted EBITDA is a way companies measure how much money they make from their core operations, like running a business, by removing certain costs or income that aren’t part of regular business activities. It helps investors see how well a company is doing without distractions from unusual expenses or gains, making it easier to compare companies or track performance over time.

Exchange Offer financial

"including, but not limited to, the implementation of a voluntary Exchange Offer"

An exchange offer is a proposal where a company asks investors to swap existing securities, like bonds or shares, for new ones, often with different terms or maturity dates. It matters to investors because it can affect the value of their holdings and the company's financial strategy, potentially providing benefits like better interest rates or reduced debt.

Warrant Agreement financial

"or an amendment to the Warrant Agreement"

A warrant agreement is the legal document that lays out the rules for stock warrants — special certificates that let their holder buy company shares at a set price within a certain time. It explains how and when warrants can be exercised, transferred, changed, or canceled, and what happens to them if the company raises money or is sold; investors care because these terms affect potential future ownership, dilution of shares, and the real value of the warrants.

Schedule 13D regulatory

"If the filing person has previously filed a statement on Schedule 13G"

A Schedule 13D is a legal document that investors file with regulators when they buy a large enough stake in a company to potentially influence its management or decisions. It provides details about the investor’s intention, ownership stake, and plans, helping other investors understand who is gaining control and what their motives might be.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What does this Schedule 13D/A filing reveal about BLDE-related investor Velibor Krstic’s stake in Strata Critical Medical?

The filing shows Velibor Krstic beneficially owns 1,139,393 Strata Critical Medical public warrants, about 12.4% of the 9,166,644 warrants outstanding, plus 26,425 common shares. He acquired these positions with personal funds and views the warrants as significantly undervalued.

How much did the BLDE-referenced investor spend acquiring Strata Critical Medical warrants and at what recent price?

Krstic used approximately 19,380 dollars of personal funds to acquire 1,139,393 warrants. On April 8, 2026, he bought 374,958 warrants in open-market trades at a weighted average price of about 0.011 dollars per warrant, completing the accumulation that triggered this Schedule 13D/A amendment.

What percentage of Strata Critical Medical’s securities does the BLDE-linked investor control according to this Schedule 13D/A?

The filing states Krstic holds about 12.4% of the 9,166,644 public warrants and roughly 0.03% of the 86,989,143 common shares outstanding. His influence is therefore focused in the warrant class, where his holdings represent a meaningful portion of that security’s public float.

What is the BLDE-associated investor’s stated thesis on Strata Critical Medical’s warrants and fundamentals?

Krstic believes the Strata Critical Medical warrants are significantly undervalued relative to the issuer’s fundamentals. He specifically cites Adjusted EBITDA of 14.1 million dollars and the successful integration of Keystone Perfusion as key reasons supporting his investment view and continued ownership.

What strategic actions might the BLDE-tied investor seek regarding Strata Critical Medical’s warrants?

Krstic may discuss options with the issuer, sponsor KSL Capital Partners, and other shareholders to maximize warrant value. The filing mentions possibilities such as a voluntary exchange offer or amendments to the warrant agreement, while clarifying there are no definitive plans under prescribed regulatory categories.

When do Strata Critical Medical’s public warrants held by this BLDE-referenced investor expire?

The Schedule 13D/A notes that Krstic intends to monitor board and management decisions leading up to the warrant expiration date of May 7, 2026. This timing is important because any exchange offer or warrant amendment discussions would need to occur before that expiration.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 04/08/2026 - 05:03 PM Learn about SEC filing dates

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 1)

Strata Critical Medical, Inc.

(Name of Issuer)

Warrants to purchase Class A Common Stock, par value $0.0001 per share

(Title of Class of Securities)

092667104

(CUSIP Number)

Velibor Krstic
Via Baraggie 23,
Ascona, V8, 6612
0041774839182

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

04/08/2026

(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).

schemaVersion:

SCHEDULE 13D

CUSIP Number(s): 092667104

1

Name of reporting person

Krstic Velibor

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)

PF, PF

5

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

6

Citizenship or place of organization

SWITZERLAND

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 1,139,393.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 1,139,393.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

1,139,393.00

12

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

13

Percent of class represented by amount in Row (11)

12.4 %

14

Type of Reporting Person (See Instructions)

IN, IN

SCHEDULE 13D

Item 1.	Security and Issuer
(a)	Title of Class of Securities: Warrants to purchase Class A Common Stock, par value $0.0001 per share
(b)	Name of Issuer: Strata Critical Medical, Inc.
(c)	Address of Issuer's Principal Executive Offices: 31 HUDSON YARDS, 31 HUDSON YARDS, NEW YORK, NEW YORK , 10001.
Item 2.	Identity and Background
(a)	Velibor Krstic
(b)	Via Baraggie 23, 6612 Ascona, SWITZERLAND
(c)	Private Investor
(d)	NONE
(e)	NONE
(f)	SWITZERLAND
Item 3.	Source and Amount of Funds or Other Consideration
	The total amount of funds used by the Reporting Person to purchase the 1,139,393 Warrants reported herein was approximately 19,380 dollars. All such funds were provided from the Reporting Person personal funds.
Item 4.	Purpose of Transaction
	The Reporting Person acquired the Warrants and the shares of Common Stock for investment purposes. The Reporting Person believes that the current market price of the Warrants (SRTAW) is significantly undervalued relative to the fundamentals of the Issuer, particularly considering the Adjusted EBITDA of 14.1 million dollars and the successful integration of Keystone Perfusion. The Reporting Person has been a shareholder of the Issuer since July 10, 2024, holding 26,425 shares of Common Stock. This long term ownership demonstrates a consistent commitment to the Issuer and an alignment of interests with all stakeholders. The Reporting Person intends to actively monitor the decisions of the Board of Directors and management leading up to the Warrant expiration date of May 7, 2026. The Reporting Person may engage in discussions with the Issuer, the Sponsor (KSL Capital Partners), and other relevant shareholders to discuss options aimed at maximizing the value of the investment, including, but not limited to, the implementation of a voluntary Exchange Offer or an amendment to the Warrant Agreement. Except as set forth above, the Reporting Person has no current plans or proposals that relate to or would result in any of the actions listed in paragraphs (a) through (j) of Item 4 of Schedule 13D.
Item 5.	Interest in Securities of the Issuer
(a)	As of April 8, 2026, the Reporting Person beneficially owns 1,139,393 Warrants, which represent approximately 12.4 percent of the 9,166,644 public warrants outstanding. This percentage is based on the number of Public Warrants reported by the Issuer in its most recent Annual Report on Form 10-K . Additionally, for transparency, the Reporting Person owns 26,425 shares of Common Stock (SRTA) acquired on July 10, 2024, representing approximately 0.03 percent of the 86,989,143 shares of Common Stock outstanding as of February 24, 2026 .
(b)	The Reporting Person has the sole power to vote or to direct the vote, and the sole power to dispose or to direct the disposition of, all 1,139,393 Warrants and all 26,425 shares of Common Stock reported in Item 5(a).
(c)	On April 8, 2026, the Reporting Person purchased 374,958 Warrants in open market transactions at a weighted average price of approximately 0.011 dollars per Warrant. In the aggregate, during the past 60 days, the Reporting Person has acquired 1,139,393 Warrants for a total purchase price of approximately 19,380 dollars. The most recent transaction, which resulted in the Reporting Person becoming the beneficial owner of more than 12 percent of the class, occurred on April 8, 2026.
(d)	No other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the Warrants or the shares of Common Stock reported herein.
(e)	Not applicable.
Item 6.	Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer
	To the best knowledge of the Reporting Person, there are no contracts, arrangements, understandings or relationships (legal or otherwise) among the person named in Item 2 and between such person and any person with respect to any securities of the Issuer, including but not limited to, transfer or voting of any of the securities, finders fees, joint ventures, loan or option arrangements, puts or calls, guarantees of profits, division of profits or loss, or the giving or withholding of proxies.
Item 7.	Material to be Filed as Exhibits.
	NONE

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.

Krstic Velibor

Signature:	/s/ VELIBOR KRSTIC
Name/Title:	VELIBOR KRSTIC, INDIVIDUAL INVESTOR
Date:	04/08/2026