Braveheart Bio (BRVE) backers convert 40M preferred shares and buy 1.1M common
Rhea-AI Filing Summary
Braveheart Bio, Inc. reported that investment entities associated with AH Bio Fund IV converted preferred shares and purchased additional common stock. On August 7, 2026, 40,000,000 shares of Series A Preferred Stock automatically converted into 9,132,420 shares of Common Stock immediately prior to the closing of the company’s initial public offering, on a 4.38-for-1 basis for no additional consideration. The preferred shares, which had no expiration date, are now fully converted.
On the same date, AH Bio Fund IV, L.P., for itself and as nominee for several related funds, purchased 1,100,000 shares of Common Stock at $18.00 per share, reported as indirectly owned. AH Equity Partners Bio IV, L.L.C. is the general partner of AH Bio Fund IV and has sole voting and dispositive power over these securities. Marc Andreessen and Ben Horowitz are managing members of AH Equity Partners Bio IV and may be deemed to share voting and dispositive power, but each reporting person disclaims beneficial ownership of the securities beyond any pecuniary interest.
Positive
- None.
Negative
- None.
Insights
Analyzing...
Insider Trade Summary
Net Buyer: 10,232,420 shares
Net Buy
3 txns
Insider
AH Bio Fund IV, L.P., AH Equity Partners Bio IV, L.L.C., Andreessen Marc L, HOROWITZ BENJAMIN A
Role
10% Owner | 10% Owner | 10% Owner | 10% Owner
Bought
1,100,000 shs ($19.80M)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Conversion | Series A Preferred Stock F1, F2, F3 | 40,000,000 | $0.00 | $0.00 |
| Conversion | Common Stock F1, F2, F3 | 9,132,420 | -- | -- |
| Purchase | Common Stock F2, F3 | 1,100,000 | $18.00 | $19.80M |
Holdings After Transaction:
Series A Preferred Stock — 0 shares (Indirect, By AH Bio Fund IV, L.P.);
Common Stock — 10,232,420 shares (Indirect, By AH Bio Fund IV, L.P.)
Footnotes (3)
- F1. Series A Preferred Stock automatically converted into Common Stock immediately prior to the closing of the Issuer's initial public offering for no additional consideration, on a 4.38-for-1 basis. The Series A Preferred Stock had no expiration date.
- F2. The reported securities are held by AH Bio Fund IV, L.P. ("AH Bio Fund IV"), for itself and as nominee for AH Bio Fund IV-B, L.P., AH 2022 Annual Fund, L.P., AH 2022 Annual Fund-B, L.P., AH 2022 Annual Fund-QC, L.P. and CLF Partners III, LP. AH Equity Partners Bio IV, L.L.C. ("AH EP Bio IV") is the general partner of AH Bio Fund IV and has sole voting and dispositive power with regard to the securities held by AH Bio Fund IV for itself and as nominee. The managing members of AH EP Bio IV are Marc Andreessen and Ben Horowitz. Marc Andreessen and Ben Horowitz may be deemed to share voting and dispositive power with respect to the securities held by AH Bio Fund IV for itself and as nominee.
- F3. (Continued from Footnote 2) Each of the Reporting Persons disclaims the existence of a "group" and disclaims beneficial ownership of the securities held by AH Bio Fund IV for itself and as nominee (and this report shall not be deemed an admission that any such person is the beneficial owner of such securities), except to the extent of such person's pecuniary interest therein, if any.
Key Figures
Series A Preferred converted: 40,000,000 shares
Common Stock received on conversion: 9,132,420 shares
Conversion ratio: 4.38-for-1
+2 more
5 metrics
Series A Preferred converted
40,000,000 shares
Series A Preferred Stock automatically converted on August 7, 2026
Common Stock received on conversion
9,132,420 shares
Common Stock issued upon automatic conversion of Series A Preferred
Conversion ratio
4.38-for-1
Series A Preferred Stock into Common Stock immediately prior to IPO closing
Common Stock purchased
1,100,000 shares
Open-market or private purchase on August 7, 2026
Purchase price
$18.00 per share
Price for 1,100,000 Common shares acquired by AH Bio Fund IV
Key Terms
initial public offering, automatically converted, voting and dispositive power, pecuniary interest
4 terms
initial public offering financial
"converted into Common Stock immediately prior to the closing of the Issuer's initial public offering"
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.
automatically converted financial
"Series A Preferred Stock automatically converted into Common Stock immediately prior to the closing"
voting and dispositive power financial
"AH EP Bio IV ... has sole voting and dispositive power with regard to the securities"
pecuniary interest financial
"beneficial owner ... except to the extent of such person's pecuniary interest therein"
FAQ
What insider transactions did AH Bio Fund IV report in Braveheart Bio (BRVE)?
AH Bio Fund IV reported a conversion of Series A Preferred into 9,132,420 Common shares and a separate purchase of 1,100,000 Common shares at $18.00 on August 7, 2026, all held indirectly through the fund structure.
What common stock purchase did AH Bio Fund IV report for Braveheart Bio (BRVE)?
AH Bio Fund IV reported buying 1,100,000 shares of Braveheart Bio Common Stock at a price of $18.00 per share on August 7, 2026, with the shares held indirectly by the fund and related nominee funds.
Do Marc Andreessen and Ben Horowitz claim beneficial ownership of the Braveheart Bio (BRVE) shares?
The reporting persons state they disclaim beneficial ownership of the securities held by AH Bio Fund IV, except to the extent of any pecuniary interest. They also disclaim the existence of a “group” with respect to these holdings.
AI-generated analysis. How Rhea-AI works. Not financial advice.
