Braveheart Bio (BRVE): OrbiMed funds convert 40M preferred, buy IPO shares
Rhea-AI Filing Summary
Braveheart Bio, Inc. received updated ownership reporting from OrbiMed-affiliated entities in connection with its initial public offering on August 7, 2026. 40,000,000 shares of Series A Preferred Stock automatically converted, on a one-for-4.38 basis and without additional consideration, into 9,132,420 shares of common stock. OrbiMed-related funds also purchased 1,666,667 and 273,333 common shares at $18.00 per share in the IPO. The securities are held indirectly through OrbiMed Private Investments IX, LP and OrbiMed Genesis Master Fund, L.P., with OrbiMed Advisors LLC and its affiliated general partners deemed to have voting and investment power and all reporting persons disclaiming beneficial ownership beyond their pecuniary interest.
Positive
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Negative
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Insights
Analyzing...
Insider Trade Summary
Net Buyer: 11,072,420 shares
Net Buy
4 txns
Insider
ORBIMED ADVISORS LLC, OrbiMed Capital GP IX LLC, OrbiMed Genesis GP LLC
Role
Director, 10% Owner | Director, 10% Owner | Director, 10% Owner
Bought
1,940,000 shs ($34.92M)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Conversion | Series A Preferred Stock F1, F3, F5 | 40,000,000 | $0.00 | $0.00 |
| Conversion | Common Stock F1, F3, F5 | 9,132,420 | -- | -- |
| Purchase | Common Stock F2, F3, F5 | 1,666,667 | $18.00 | $30.00M |
| Purchase | Common Stock F2, F4, F5 | 273,333 | $18.00 | $4.92M |
Holdings After Transaction:
Series A Preferred Stock — 0 shares (Indirect, See footnotes);
Common Stock — 273,333 shares (Indirect, See footnotes)
Footnotes (5)
- F1. Each share of Series A Preferred Stock automatically converted into shares of the Issuer's Common Stock on a one-for-4.38 basis upon the closing of the Issuer's initial public offering on August 7, 2026 without payment of consideration. The Series A Preferred Stock has no expiration date.
- F2. Reflects shares of the Issuer's Common Stock purchased in the Issuer's initial public offering.
- F3. These securities are held of record by OrbiMed Private Investments IX, LP ("OPI IX"). OrbiMed Capital GP IX LLC ("GP IX") is the general partner of OPI IX. OrbiMed Advisors LLC ("OrbiMed Advisors"), a registered investment adviser under the Investment Advisers Act of 1940, as amended, is the managing member of GP IX. By virtue of such relationships, GP IX and OrbiMed Advisors may be deemed to have voting and investment power with respect to the securities held by OPI IX. OrbiMed Advisors exercises this investment and voting power through a management committee comprised of Carl L. Gordon, W. Carter Neild, and Geoffrey C. Hsu, each of whom disclaims beneficial ownership of the shares held by OPI IX.
- F4. These securities are held of record by OrbiMed Genesis Master Fund, L.P. ("Genesis"). OrbiMed Genesis GP LLC ("Genesis GP") is the general partner of Genesis. OrbiMed Advisors is the managing member of Genesis GP. By virtue of such relationships, Genesis GP and OrbiMed Advisors may be deemed to have voting and investment power over the securities held by Genesis and may be deemed to have beneficial ownership over such securities. OrbiMed Advisors exercises voting and investment power through a management committee comprised of Carl L. Gordon, W. Carter Neild, and Geoffrey C. Hsu, each of whom disclaims beneficial ownership of the shares held by Genesis.
- F5. This report on Form 4 is jointly filed by OrbiMed Advisors, GP IX, and Genesis GP. Each of the Reporting Persons disclaims beneficial ownership of the securities reported herein for purposes of Rule 16a-1(a) under the Securities Exchange Act of 1934, as amended (the "Exchange Act"), except to the extent of its pecuniary interest therein, if any. The Reporting Persons have designated Erez Chimovits, an employee of OrbiMed Advisors, to serve on the Issuer's board of directors. This report shall not be deemed an admission that any of such entity or person is a beneficial owner of such securities for purposes of Section 16 of the Exchange Act, or for any other purpose.
Key Figures
Series A Preferred converted: 40,000,000 shares
Common shares from conversion: 9,132,420 shares
IPO purchase block 1: 1,666,667 shares at $18.00
+3 more
6 metrics
Series A Preferred converted
40,000,000 shares
Automatically converted into common stock upon the August 7, 2026 IPO
Common shares from conversion
9,132,420 shares
Received on one-for-4.38 conversion of Series A Preferred Stock
IPO purchase block 1
1,666,667 shares at $18.00
Common stock purchased in Braveheart Bio’s initial public offering
IPO purchase block 2
273,333 shares at $18.00
Additional common stock purchased in the same initial public offering
Conversion ratio
one-for-4.38
Each Series A Preferred share converted into common stock at IPO closing
Net buy shares
1,940,000 shares
Net buy-side common stock transactions reported across Form 4
Key Terms
Series A Preferred Stock, initial public offering, beneficial ownership, pecuniary interest, +1 more
5 terms
Series A Preferred Stock financial
"Each share of Series A Preferred Stock automatically converted into shares"
Series A preferred stock is a type of ownership share in a company that gives investors certain advantages, such as priority in receiving profits or getting their money back if the company is sold or goes bankrupt. It is often issued during early funding stages to attract investors by offering more security than common shares. This stock matters to investors because it provides a safer way to invest while still holding potential for future gains.
initial public offering financial
"upon the closing of the Issuer's initial public offering on August 7, 2026"
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.
beneficial ownership regulatory
"each of whom disclaims beneficial ownership of the shares held"
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.
pecuniary interest regulatory
"except to the extent of its pecuniary interest therein, if any"
management committee financial
"OrbiMed Advisors exercises this investment and voting power through a management committee"
FAQ
What derivative conversion did OrbiMed report in BRVE on August 7, 2026?
OrbiMed-affiliated entities reported converting 40,000,000 shares of Series A Preferred Stock into 9,132,420 common shares at a one-for-4.38 ratio automatically upon Braveheart Bio’s IPO on August 7, 2026.
Do OrbiMed entities claim full beneficial ownership of their BRVE holdings?
The reporting entities disclaim beneficial ownership of Braveheart Bio securities beyond their pecuniary interest and state the Form 4 should not be deemed an admission of beneficial ownership for Section 16 purposes.
Which OrbiMed designee sits on Braveheart Bio (BRVE)’s board?
The filing states that the reporting persons have designated Erez Chimovits, an employee of OrbiMed Advisors LLC, to serve on Braveheart Bio’s board of directors in connection with these holdings.
AI-generated analysis. How Rhea-AI works. Not financial advice.
