Alta Partners LLC (BRLS) reports 1,435,364 warrant shares; 6.3% stake

Rhea-AI Filing Summary

Borealis Foods Inc. Schedule 13G: Alta Partners LLC reports beneficial ownership of 1,435,364 Class A ordinary shares issuable upon exercise of warrants, representing 6.3%. The filing states Alta Partners has sole voting and sole dispositive power over 1,435,364 shares. The statement is certified by Steven Cohen, Managing Member with the signature dated 02/27/2026.

Insights

Institutional Ownership Analyst

Large holder reports warrant-based stake of 6.3% in the company.

Alta Partners LLC discloses beneficial ownership of 1,435,364 Class A shares issuable upon exercise of warrants, representing 6.3%. The filing attributes sole voting and sole dispositive power over those shares to Alta Partners.

Holder intentions are limited by the certification language; timing and exercise decisions are not disclosed and will depend on holder actions and warrant terms.

Securities Compliance Counsel

Filing is a routine Schedule 13G disclosure of beneficial ownership under securities rules.

The statement confirms the position was not acquired to change control and is certified by the reporting person. The reported shares are described as "issuable upon exercise of warrants," which is a material qualifier to the ownership metric.

Regulatory implications are procedural; any change in intent or additional acquisitions would require amended reporting under applicable rules.

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

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Accepted by SEC EDGAR 02/27/2026 - 04:01 PM Learn about SEC filing dates

FAQ

What stake does Alta Partners LLC report in Borealis Foods (BRLS)?

Alta Partners LLC reports beneficial ownership of 1,435,364 Class A shares, representing 6.3%. The filing specifies these shares are issuable upon exercise of warrants and lists sole voting and dispositive power over that amount.

Are the reported Borealis shares immediately outstanding or contingent (BRLS)?

The filing states the 1,435,364 shares are shares issuable upon exercise of warrants, indicating contingent ownership tied to warrant exercise. The filing does not state whether warrants have been exercised or provide exercise timing.

Who certified the Schedule 13G for Alta Partners LLC and when (BRLS)?

The Schedule 13G is certified and signed by Steven Cohen, Managing Member with the signature dated 02/27/2026. The certification affirms the stated purpose of the holdings in the filing.

Does Alta Partners claim voting or dispositive power over the reported BRLS shares?

Yes. The filing reports sole voting power and sole dispositive power for 1,435,364 shares. Shared voting and dispositive power are reported as 0 in the Schedule 13G disclosure.

Does this Schedule 13G indicate Alta Partners seeks to change control of Borealis Foods (BRLS)?

No. The filing includes a certification stating the securities were not acquired to change or influence control and are not held in connection with any transaction having that purpose, other than nomination-related activities noted in the form.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

Borealis Foods Inc.

(Name of Issuer)

Class A ordinary shares, $0.0001 par value

(Title of Class of Securities)

G6859L105

(CUSIP Number)

02/27/2026

(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)

SCHEDULE 13G

CUSIP No. G6859L105

1

Names of Reporting Persons

Alta Partners LLC

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

NEW YORK

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 1,435,364.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 1,435,364.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

1,435,364.00

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)

6.3 %

12

Type of Reporting Person (See Instructions)

OO

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Borealis Foods Inc.
(b)	Address of issuer's principal executive offices: 1540 CORNWALL RD. #104, OAKVILLE, ONTARIO, CANADA, L6J 7W5.
Item 2.
(a)	Name of person filing: Alta Partners LLC
(b)	Address or principal business office or, if none, residence: 1205 Franklin Avenue Garden City, New York 11530
(c)	Citizenship: New York Limited Liability Company
(d)	Title of class of securities: Class A ordinary shares, $0.0001 par value
(e)	CUSIP No.: G6859L105
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: 1,435,364 shares, representing shares issuable upon exercise of warrants.
(b)	Percent of class: 6.3%
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 1,435,364 shares
	(ii) Shared power to vote or to direct the vote: 0 shares
	(iii) Sole power to dispose or to direct the disposition of: 1,435,364 shares
	(iv) Shared power to dispose or to direct the disposition of: 0 shares
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 acquired and are held in the ordinary course of business and 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. 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.

Alta Partners LLC

Signature:	/s/ Steven Cohen
Name/Title:	Steven Cohen, Managing Member
Date:	02/27/2026