Braveheart Bio holder converts 32.5M preferred shares

Q: 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.

Q: 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.

Q: 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.

Q: 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.

Jiangsu Hengrui Pharmaceuticals Co., Ltd., a more-than-10% owner of Braveheart Bio, Inc., reported a conversion of its holdings.

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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.

Insider Trade Summary

32,500,000 shares exercised/converted

Exercise 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 contracts (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

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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.

How many BRVE common shares does Jiangsu Hengrui hold after this Form 4?

After the reported transactions, Jiangsu Hengrui directly holds 7,420,091 shares of Braveheart Bio common stock. Its non-voting Series A preferred stock position is reduced to zero due to the automatic conversion immediately before the IPO closing.

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.

Form 4 Insider Transactions: What Each Field Means →

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Accepted by SEC EDGAR 08/10/2026 - 10:03 AM EDT

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Jiangsu Hengrui Pharmaceuticals Co., Ltd.

(Last)

(First)

(Middle)

7 KUNLUNSHAN RD, ECON. & TECH. DEV. ZONE

(Street)

LIANYUNGANG

JIANGSU

222000

(City)

(State)

(Zip)

CHINA

(Country)

2. Issuer Name and Ticker or Trading Symbol
Braveheart Bio, Inc. [ BRVE ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

Director	X	10% Owner
Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
08/07/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	08/07/2026		C		7,420,091	A	⁽¹⁾	7,420,091	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Non-voting Series A preferred stock	⁽¹⁾	08/07/2026		C			32,500,000	⁽¹⁾	⁽¹⁾	Common Stock	7,420,091	$0	0	D

Explanation of Responses:

1. 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.

	Jiangsu Hengrui Pharmaceuticals Co., Ltd. /s/ Lau Kin Chun, Chief Financial Officer, on behalf of Jiangsu Hengrui Pharmaceuticals Co., Ltd.	08/10/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR