Cormorant funds hold BlossomHill IPO-convertible stakes
BlossomHill Therapeutics, Inc. (BLSM) reported the initial beneficial ownership of certain Cormorant-managed investment funds and related entities.
Rhea-AI Filing Summary
BlossomHill Therapeutics, Inc. (BLSM) reported the initial beneficial ownership of certain Cormorant-managed investment funds and related entities. The filing lists indirect holdings of Series A Preferred Stock and Series B Preferred Stock, each share of which is convertible into 1 share of common stock upon the closing of the company’s initial public offering without further consideration, with no expiration date. The positions correspond to 1,599,993 underlying common shares from Series A and 1,701,541 underlying common shares from Series B. The interests are held through Cormorant Global Healthcare Master Fund, LP and several Cormorant Private Healthcare Funds, with Cormorant Asset Management, LP as investment manager and Bihua Chen as manager. Each reporting person disclaims beneficial ownership beyond its or her pecuniary interest.
Positive
- None.
Negative
- None.
Insider Trade Summary
2 transactions reported
Mixed
2 txns
Insider
Chen Bihua, Cormorant Asset Management, LP, Cormorant Global Healthcare Master Fund, LP, Cormorant Private Healthcare Fund III LP, Cormorant Private Healthcare Fund V LP, Cormorant Private Healthcare Fund VI, LP
Role
Director, 10% Owner | 10% Owner | 10% Owner | 10% Owner | 10% Owner | 10% Owner
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| holding | Series A Preferred Stock F1, F2, F3, F4 | -- | -- | -- |
| holding | Series B Preferred Stock F1, F5, F3, F4 | -- | -- | -- |
Holdings After Transaction:
Series A Preferred Stock — 1,599,993 contracts (Indirect, See footnote);
Series B Preferred Stock — 1,701,541 contracts (Indirect, See Footnote)
Footnotes (5)
- F1. Each share of Series A Preferred Stock and Series B Preferred Stock (together, the "Preferred Stock") is convertible into 1 share of Common Stock upon the closing of the Issuer's initial public offering without payment of further consideration. The Preferred Stock has no expiration date.
- F2. Represents (i) 1,228,315 shares issuable upon conversion of shares of Series A Preferred Stock beneficially owned by Fund III (defined below), (ii) 371,678 shares issuable upon conversion of shares of Series A Preferred Stock beneficially owned by Master Fund (defined below).
- F3. Cormorant Asset Management, LP ("Cormorant") serves as the investment manager of Cormorant Global Healthcare Master Fund, LP (the "Master Fund"), Cormorant Private Healthcare Fund III, LP ("Fund III"), Cormorant Private Healthcare Fund V, LP ("Fund V") and Cormorant Private Healthcare Fund VI, LP ("Fund VI"). Cormorant Global Healthcare GP, LLC ("GP LLC"), Cormorant Private Healthcare GP III, LLC ("GP III"), Cormorant Private Healthcare GP V, LLC ("GP V") and Cormorant Private Healthcare GP VI, LLC ("GP VI") serve as General Partner of the Master Fund, Fund III, Fund V and Fund VI, respectively.
- F4. Bihua Chen serves as manager of Cormorant, GP LLC, GP III, GP V and GP VI. Each of the Reporting Persons disclaims beneficial ownership of the shares reported herein except to the extent of its or her pecuniary interest therein, and the filing of this Form 3 shall not be construed as an admission that any of the Reporting Persons is the beneficial owner of any such shares for purposes of Section 16(a) of the Securities Exchange Act of 1934 or for any other purpose.
- F5. Represents (i) 274,912 shares issuable upon conversion of shares of Series B Preferred Stock beneficially owned by Master Fund (defined above), (ii) 1,052,460 shares issuable upon conversion of shares of Series B Preferred Stock beneficially owned by Fund V (defined above) and (iii) 374,169 shares issuable upon conversion of shares of Series B Preferred Stock beneficially owned by Fund VI (defined above).
Key Figures
Underlying common shares from Series A Preferred Stock: 1,599,993 shares
Underlying common shares from Series B Preferred Stock: 1,701,541 shares
Series A underlying shares - Fund III portion: 1,228,315 shares
+4 more
7 metrics
Underlying common shares from Series A Preferred Stock
1,599,993 shares
Indirect holdings convertible into common stock upon IPO closing
Underlying common shares from Series B Preferred Stock
1,701,541 shares
Indirect holdings convertible into common stock upon IPO closing
Series A underlying shares - Fund III portion
1,228,315 shares
Common shares issuable upon conversion of Series A held by Fund III
Series A underlying shares - Master Fund portion
371,678 shares
Common shares issuable upon conversion of Series A held by Master Fund
Series B underlying shares - Master Fund portion
274,912 shares
Common shares issuable upon conversion of Series B held by Master Fund
Series B underlying shares - Fund V portion
1,052,460 shares
Common shares issuable upon conversion of Series B held by Fund V
Series B underlying shares - Fund VI portion
374,169 shares
Common shares issuable upon conversion of Series B held by Fund VI
Key Terms
Preferred Stock, convertible, initial public offering, pecuniary interest, +1 more
5 terms
Preferred Stock financial
"Each share of Series A Preferred Stock and Series B Preferred Stock"
Preferred stock is a type of ownership in a company that typically offers investors higher and more consistent dividend payments than common stock. Unlike regular shares, preferred stock usually doesn’t come with voting rights but provides a priority claim on the company’s assets and profits, making it a more stable and predictable investment option. This makes preferred stock attractive to those seeking steady income with lower risk.
convertible financial
"is convertible into 1 share of Common Stock upon the closing"
A convertible is a type of investment that starts as a loan or preferred stake (like a bond or preferred share) but can be exchanged for common shares of the company at a set price or under certain conditions. It matters to investors because it offers a mix of steady income and downside protection like a loan, plus the upside of stock ownership if the company does well—similar to holding a coupon that you can trade for a full ticket if the event becomes valuable.
initial public offering financial
"upon the closing of the Issuer's initial public offering without payment"
An initial public offering (IPO) is when a private company first sells its shares to the public and becomes a stock-listed company. It matters because it allows the company to raise money from a wide range of investors, helping it grow, while giving early shareholders a way to sell some of their ownership.
pecuniary interest financial
"disclaims beneficial ownership of the shares reported herein except to the extent of its or her pecuniary interest"
beneficial ownership financial
"shall not be construed as an admission that any of the Reporting Persons is the beneficial owner"
Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What does the Form 3 filing for BlossomHill Therapeutics (BLSM) disclose?
The Form 3 filing discloses initial beneficial ownership of BlossomHill Therapeutics by Cormorant-managed funds and Bihua Chen, including indirect holdings of Series A and B Preferred Stock that are convertible into common shares upon the company’s initial public offering.
Who are the reporting persons in the BlossomHill Therapeutics (BLSM) Form 3?
Reporting persons include Bihua Chen, Cormorant Asset Management, LP, Cormorant Global Healthcare Master Fund, LP, and several Cormorant Private Healthcare Funds, all listed as ten percent owners, with some funds potentially deemed directors by deputization through board representation.
AI-generated analysis. How Rhea-AI works. Not financial advice.
