[SCHEDULE 13G/A] CalciMedica, Inc. SEC Filing

Rhea-AI Filing Summary

Alafi Capital Company, LLC and its managing member Christopher D. Alafi filed Amendment No. 1 to Schedule 13G for CalciMedica, Inc. (CALC).

• Event date: 22 Jul 2025; filing date: 5 Aug 2025.
• Beneficial ownership: 1,583,153 common shares.
• Represents 11.3 % of the 13,971,990 shares outstanding (per CALC 10-Q dated 14 May 2025).
• All shares held by Alafi Capital; Mr. Alafi, as sole managing member, has identical sole voting & dispositive power.
• No shared power; stake reported under Rule 13d-1(c) as a passive investment.

The certification states the securities were not acquired to influence control of the issuer, and no group or subsidiary relationships apply. No changes to company operations, financials or additional transactions are disclosed.

Key takeaway: Alafi remains a double-digit passive holder, offering potential proxy influence but signalling no activist intent.

Positive

• Alafi Capital discloses ownership of 1.58 M shares (11.3 %), signalling continued institutional confidence and potential supportive voting influence for CalciMedica.

Negative

• None.

Insights

Securities Analyst

TL;DR (25 words) Passive filing shows Alafi retains 11.3 % of CALC; material ownership visibility, but no new capital, guidance, or activist signal—neutral impact.

The amendment confirms an unchanged, sizable stake rather than a new purchase or disposal. While a double-digit holder can sway shareholder votes, the 13G classification and explicit certification rule out control motives. Without transaction details or operational commentary, the filing does not alter near-term valuation models. Visibility of a committed investor may improve sentiment, yet lacks earnings or cash-flow implications. Overall effect on CALC’s risk-reward profile is neutral.

Corporate Governance Expert

TL;DR (24 words) Alafi’s 11.3 % passive stake adds governance weight but, absent activist intent, poses minimal immediate strategic pressure on CalciMedica’s board.

An 11 % holder surpasses common 5 % reporting thresholds, making Alafi a key constituency in future proxy matters. However, the Schedule 13G (rather than 13D) and certification against control objectives indicate a hands-off posture. The filing lists sole, not shared, voting power, simplifying ownership structure and reducing coordination risks. Unless Alafi re-files on Form 13D or increases ownership materially, governance impact remains modest.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 1)

CalciMedica, Inc.

(Name of Issuer)

Common Stock, par value $0.0001 per share

(Title of Class of Securities)

38942Q202

(CUSIP Number)

07/22/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 38942Q202

1

Names of Reporting Persons

Alafi Capital Company, LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

CALIFORNIA

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 1,583,153.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 1,583,153.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

1,583,153.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

11.3 %

12

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person: Row 11: This percentage is calculated based on 13,971,990 outstanding shares of common stock of CalciMedica, Inc. (the "Issuer" or the "Company") as of May 6, 2025, as reported in the Company's Quarterly Report on Form 10-Q, filed with the Securities and Exchange Commission ("SEC") on May 14, 2025 (the "Quarterly Report").

SCHEDULE 13G

CUSIP No. 38942Q202

1

Names of Reporting Persons

Christopher D. Alafi

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 1,583,153.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 1,583,153.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

1,583,153.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

11.3 %

12

Type of Reporting Person (See Instructions)

IN

Comment for Type of Reporting Person: Rows 5, 7: Includes 1,583,153 shares of common stock held by Alafi Capital Company, LLC, for which Mr. Alafi is the managing member and for which he may be deemed to have sole voting or investment power. Row 11: This percentage is calculated based on 13,971,990 outstanding shares of common stock of the Company as reported in the Company's Quarterly Report.

SCHEDULE 13G

Item 1.
(a)	Name of issuer: CalciMedica, Inc.
(b)	Address of issuer's principal executive offices: 505 Coast Boulevard South Suite 307 La Jolla, CA, 92037
Item 2.
(a)	Name of person filing: This Schedule 13G is being filed on behalf of Alafi Capital Company, LLC, a California limited liability company ("Alafi Capital") and Christopher D. Alafi (together with Alafi Capital, the "Reporting Persons" and, each individually, a "Reporting Person"). Mr. Alafi is the sole managing member of Alafi Capital.
(b)	Address or principal business office or, if none, residence: The business address of each Reporting Person is 8 Admiral Drive, Suite 324, Emeryville, CA 94608.
(c)	Citizenship: Alafi Capital is a limited liability company organized under the laws of California. Mr. Alafi is a natural person and citizen of the United States.
(d)	Title of class of securities: Common Stock, par value $0.0001 per share
(e)	CUSIP No.: 38942Q202
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: The Reporting Persons beneficially own an aggregate of 1,583,153 shares of common stock of the Company.
(b)	Percent of class: The Reporting Persons beneficially own an aggregate of 11.3% of the outstanding shares of common stock of the Company.
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 1,583,153
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 1,583,153
	(iv) Shared power to dispose or to direct the disposition of: 0
Item 5.	Ownership of 5 Percent or Less of a Class.
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Alafi Capital Company, LLC

Signature:	/s/ Christopher D. Alafi
Name/Title:	Christopher D. Alafi, as managing member of Alafi Capital Company, LLC
Date:	08/05/2025

Christopher D. Alafi

Signature:	/s/ Christopher D. Alafi
Name/Title:	Christopher D. Alafi
Date:	08/05/2025

Exhibit Information

Agreement Regarding Joint Filing of Statement on Schedule 13D or 13G (Previously Filed)

FAQ

How many CalciMedica (CALC) shares does Alafi Capital own?

Alafi Capital beneficially owns 1,583,153 common shares of CALC.

What percentage of CalciMedica’s outstanding stock is held by Alafi Capital?

The filing states the stake equals 11.3 % of CALC’s outstanding shares.

Is Alafi Capital seeking control of CalciMedica?

No. The Schedule 13G certification affirms the shares were not acquired to influence control and are held passively.

When did the ownership event that triggered the filing occur?

The reportable event date is July 22, 2025; the amendment was filed on August 5, 2025.

Why was a Schedule 13G, not 13D, filed by Alafi Capital?

A 13G is used for passive investors with no intent to control the issuer, whereas 13D is for active/activist positions.

Do Alafi Capital and Christopher D. Alafi share voting or dispositive power?

All voting and dispositive power is sole; no shared authority is reported.