Investor reports 8.3% stake in Strata warrants

Strata Critical Medical, Inc. investor Velibor Krstic filed a Schedule 13D after accumulating 764,435 public warrants to purchase Class A common stock.

Rhea-AI Filing Summary

Strata Critical Medical, Inc. investor Velibor Krstic filed a Schedule 13D after accumulating 764,435 public warrants to purchase Class A common stock. These warrants represent about 8.3% of the 9,166,644 public warrants outstanding, bought in Nasdaq open-market trades for roughly $15,231 of personal funds.

Krstic reports holding sole voting and dispositive power over all the warrants and states he acquired them for investment purposes, believing the SRTAW warrants are undervalued relative to the issuer’s fundamentals, including Adjusted EBITDA of $14.1 million and the integration of Keystone Perfusion. He indicates he may engage with the board, management, sponsor KSL Capital Partners, and other holders before the warrants’ May 7, 2026 expiration, potentially discussing actions such as a voluntary exchange offer or amendments to the Warrant Agreement.

Insights

Equity ownership & activism analyst

Investor reports 8.3% warrant stake, hints at potential engagement.

Velibor Krstic discloses beneficial ownership of 764,435 Strata Critical Medical public warrants, or about 8.3% of the 9,166,644 public warrants. The position was built in Nasdaq open-market purchases totaling roughly $15,231 of personal capital, with sole voting and dispositive power.

He describes the SRTAW warrants as undervalued based on Adjusted EBITDA of $14.1 million and Keystone Perfusion’s integration, and notes the warrants expire on May 7, 2026. The filing signals possible future discussions with the board, management, sponsor KSL Capital Partners, and other holders about structures like a voluntary exchange offer or Warrant Agreement amendments, though no specific plans are committed.

Key Figures

Public warrants beneficially owned: 764,435 warrants Percentage of public warrant class: 8.3% Public warrants outstanding: 9,166,644 warrants +4 more

7 metrics

Public warrants beneficially owned 764,435 warrants Beneficial ownership reported in Schedule 13D

Percentage of public warrant class 8.3% Share of 9,166,644 public warrants outstanding

Public warrants outstanding 9,166,644 warrants Public warrants outstanding per most recent Form 10-K

Total purchase cost $15,231 Aggregate price to buy 764,435 warrants in open-market trades

Adjusted EBITDA $14.1 million Issuer Adjusted EBITDA cited by reporting person

Most recent acquisition date April 1, 2026 Date Krstic crossed 5% beneficial ownership threshold

Warrant expiration date May 7, 2026 Expiration of Strata Critical Medical public warrants

Key Terms

Beneficially owns, Public warrants, Adjusted EBITDA, Exchange Offer, +2 more

6 terms

Beneficially owns financial

"The Reporting Person beneficially owns 764,435 Warrants, which represent approximately 8.3%..."

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

"represent approximately 8.3% 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

"particularly considering the Adjusted EBITDA of $14.1 million and the recent 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 stake did Velibor Krstic report in Strata Critical Medical warrants (SRTAW)?

Krstic reported beneficial ownership of 764,435 public warrants, representing about 8.3% of the 9,166,644 public warrants outstanding. All warrants were acquired in Nasdaq open-market transactions using approximately $15,231 of his personal funds over the last 60 days.

How much did Velibor Krstic spend acquiring BLDE-related Strata Critical Medical warrants?

He used approximately $15,231 of personal funds to buy 764,435 Strata Critical Medical public warrants. The Schedule 13D specifies that none of the purchase price was borrowed from banks or third parties and all transactions occurred on the Nasdaq Stock Market.

What percentage of Strata Critical Medical’s public warrants does Velibor Krstic own?

Krstic states he beneficially owns about 8.3% of the public warrants, based on 9,166,644 public warrants outstanding. This percentage is calculated using figures disclosed in the issuer’s most recent Annual Report on Form 10-K and reflects only the public warrant class.

Why did Velibor Krstic file a Schedule 13D for Strata Critical Medical (BLDE)?

He crossed the 5% beneficial ownership threshold in Strata Critical Medical public warrants, triggering a Schedule 13D requirement. The most recent purchase that pushed him above this level occurred on April 1, 2026, leading to the filing to report his warrant stake.

What is Velibor Krstic’s stated investment thesis for Strata Critical Medical warrants?

Krstic believes the SRTAW warrants are significantly undervalued relative to the issuer’s fundamentals, citing Adjusted EBITDA of $14.1 million and integration of Keystone Perfusion. He describes his position as for investment purposes, while reserving flexibility to discuss value-maximizing options.

Could Velibor Krstic seek changes to Strata Critical Medical’s warrant terms?

He notes potential discussions with the board, management, sponsor KSL Capital Partners, and shareholders about steps to maximize investment value. Examples mentioned include a voluntary exchange offer or amendments to the Warrant Agreement, though no concrete plans are currently detailed.

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

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Accepted by SEC EDGAR 04/07/2026 - 05:01 PM Learn about SEC filing dates

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

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)

(CUSIP Number)

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

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

04/01/2026

(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 No.

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

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 764,435.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 764,435.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

764,435.00

12

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

13

Percent of class represented by amount in Row (11)

8.3 %

14

Type of Reporting Person (See Instructions)

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, 14TH FLOOR, 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 764,435 Warrants reported herein was approximately $15,231. All such funds were provided from the Reporting Persons personal funds (Personal Funds). No part of the purchase price was borrowed from any bank or other third party for the purpose of acquiring, holding, trading, or voting the securities.
Item 4.	Purpose of Transaction
	The Reporting Person acquired the Warrants for investment purposes. The Reporting Person believes that the current market price of the Warrants (SRTAW) is significantly undervalued relative to the Issuer's fundamentals, particularly considering the Adjusted EBITDA of $14.1 million and the recent integration of Keystone Perfusion. 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, its 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)	The Reporting Person beneficially owns 764,435 Warrants, which represent approximately 8.3% 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.
(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 764,435 Warrants reported in Item 5(a).
(c)	During the past 60 days, the Reporting Person acquired an aggregate of 764,435 Warrants in open market transactions on the Nasdaq Stock Market for an aggregate purchase price of approximately $15,231. The most recent transaction, which resulted in the Reporting Person becoming the beneficial owner of more than 5% of the class, occurred on April 1, 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 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:	04/07/2026