Braveheart Bio (BRVE) insider tied to OrbiMed converts preferred and buys 1.94M IPO shares
Rhea-AI Filing Summary
Braveheart Bio, Inc. director and greater-than-10% owner Erez Chimovits, through OrbiMed-affiliated entities, reported several indirect transactions on August 7, 2026 tied to the company’s initial public offering. 40,000,000 shares of Series A Preferred Stock automatically converted into 9,132,420 shares of Common Stock on a one-for-4.38 basis upon the IPO closing, without payment of consideration, eliminating the reported Series A Preferred position. In the same IPO, OrbiMed-related funds indirectly purchased an additional 1,666,667 and 273,333 shares of Common Stock at $18.00 per share. The securities are held of record by OrbiMed Private Investments IX, LP and OrbiMed Genesis Master Fund, L.P., with OrbiMed entities exercising voting and investment power, and all parties, including the reporting person, disclaiming beneficial ownership beyond any pecuniary interest.
Positive
- None.
Negative
- None.
Insights
Analyzing...
Insider Trade Summary
Net Buyer: 11,072,420 shares
Net Buy
4 txns
Insider
Chimovits Erez
Role
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. Each of the Reporting Person, OrbiMed Advisors, GP IX, and Genesis GP 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. This report shall not be deemed an admission that any of the Reporting Person, OrbiMed Advisors, GP IX, or Genesis GP 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 Stock 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 on August 7, 2026 at IPO closing
Common Stock from conversion
9,132,420 shares
Received upon one-for-4.38 conversion of Series A Preferred at IPO closing
IPO purchase block 1
1,666,667 shares at $18.00
Common Stock purchased in initial public offering by OrbiMed-related entity
IPO purchase block 2
273,333 shares at $18.00
Additional Common Stock purchased in initial public offering by OrbiMed-related entity
Total IPO shares purchased
1,940,000 shares
Sum of reported Common Stock purchases in the IPO
Conversion ratio
1 share Series A for 4.38 Common
Automatic conversion terms of Series A Preferred Stock at IPO closing
Key Terms
automatic conversion, initial public offering, pecuniary interest, beneficial ownership, +1 more
5 terms
automatic conversion financial
"Each share of Series A Preferred Stock automatically converted into shares of the Issuer's Common Stock"
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.
pecuniary interest regulatory
"disclaims beneficial ownership of the securities reported herein except to the extent of its pecuniary interest"
beneficial ownership regulatory
"disclaims beneficial ownership of the shares held by OPI IX"
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.
voting and investment power financial
"may be deemed to have voting and investment power with respect to the securities held"
FAQ
What insider transactions did BRVE director Erez Chimovits report on August 7, 2026?
On August 7, 2026, Erez Chimovits reported an automatic conversion of 40,000,000 Series A Preferred shares into 9,132,420 Common shares and additional IPO purchases totaling 1,940,000 Common shares through OrbiMed-affiliated funds.
What was the conversion ratio for BRVE’s Series A Preferred Stock at the IPO?
Each share of Series A Preferred Stock automatically converted into Common Stock on a one-for-4.38 basis upon the closing of Braveheart Bio’s initial public offering on August 7, 2026, with 40,000,000 preferred shares converting into 9,132,420 Common shares.
Was the BRVE Form 4 for Erez Chimovits filed under a Rule 10b5-1 trading plan?
The Form 4 indicates the Rule 10b5-1 checkbox is not selected, so the reported August 7, 2026 transactions, including the preferred stock conversion and IPO purchases, were not affirmed as being executed under a Rule 10b5-1 trading plan.
AI-generated analysis. How Rhea-AI works. Not financial advice.
