Braveheart Bio (BRVE) investor converts 32.5M preferred into 7.42M common shares
Rhea-AI Filing Summary
Jiangsu Hengrui Pharmaceuticals Co., Ltd., a more-than-10% owner of Braveheart Bio, Inc., reported a conversion of its holdings. On 2026-08-07, it converted 32,500,000 shares of non-voting Series A preferred stock into 7,420,091 shares of common stock, consistent with terms that provide for automatic conversion immediately prior to the closing of Braveheart Bio’s initial public offering. Following the transactions, Jiangsu Hengrui directly holds 7,420,091 shares of common stock and no remaining shares of the non-voting Series A preferred stock.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Buyer: 7,420,091 shares
Net Buy
2 txns
Insider
Jiangsu Hengrui Pharmaceuticals Co., Ltd.
Role
10% Owner
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Conversion | Non-voting Series A preferred stock F1 | 32,500,000 | $0.00 | $0.00 |
| Conversion | Common Stock F1 | 7,420,091 | -- | -- |
Holdings After Transaction:
Non-voting Series A preferred stock — 0 shares (Direct);
Common Stock — 7,420,091 shares (Direct)
Footnotes (1)
- F1. The non-voting Series A preferred stock (the "Preferred Stock") of the Issuer are convertible into shares of Common Stock of the Issuer at the holder's election and have no expiration date. All shares of the Preferred Stock automatically converted into shares of Common Stock immediately prior to the closing of the Issuer's initial public offering of its Common Stock.
Key Figures
Preferred shares converted: 32,500,000 shares
Common shares received: 7,420,091 shares
Common shares held after: 7,420,091 shares
+2 more
5 metrics
Preferred shares converted
32,500,000 shares
Non-voting Series A preferred stock converted on 2026-08-07
Common shares received
7,420,091 shares
Common stock issued upon conversion of preferred stock
Common shares held after
7,420,091 shares
Direct common stock holdings of Jiangsu Hengrui after conversion
Preferred shares held after
0 shares
Non-voting Series A preferred stock position following automatic conversion
Transaction date
2026-08-07
Date of reported derivative conversion transactions
Key Terms
Non-voting Series A preferred stock, Conversion of derivative security, initial public offering
3 terms
Non-voting Series A preferred stock financial
"The non-voting Series A preferred stock (the "Preferred Stock") of the Issuer are convertible"
Conversion of derivative security financial
"transaction_code_description": "Conversion of derivative security""
initial public offering financial
"converted into shares of 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.
FAQ
What did Jiangsu Hengrui report in its Form 4 for BRVE?
Jiangsu Hengrui reported a conversion of 32,500,000 non-voting Series A preferred shares of Braveheart Bio into 7,420,091 common shares on 2026-08-07, reflecting an automatic conversion tied to the company’s initial public offering terms.
What securities were converted in Jiangsu Hengrui’s BRVE Form 4?
The filing shows 32,500,000 shares of non-voting Series A preferred stock were converted into 7,420,091 shares of common stock of Braveheart Bio. The preferred shares were convertible at the holder’s election and had no expiration date.
Was Jiangsu Hengrui’s BRVE Form 4 a market purchase or sale?
The Form 4 reports a conversion of derivative securities, not an open-market purchase or sale. Non-voting Series A preferred stock converted into common stock immediately prior to Braveheart Bio’s IPO closing, in line with the stated automatic conversion terms.
Does Jiangsu Hengrui still own BRVE preferred stock after this filing?
No. Following the transactions, Jiangsu Hengrui’s total shares of non-voting Series A preferred stock are 0. All such preferred shares automatically converted into common stock immediately before the closing of Braveheart Bio’s initial public offering.
AI-generated analysis. How Rhea-AI works. Not financial advice.
