Michael G. Wright (CNXU) discloses large Conexeu stake and warrant package
Filing Impact
Filing Sentiment
Form Type
3
Rhea-AI Filing Summary
Conexeu Sciences Inc. insider Michael G. Wright filed an initial Form 3 showing his beneficial ownership in CNXU. He reports indirect ownership of 1,498,048 shares of common stock through N3GU Investments LLC, over which he has sole voting and dispositive power, and direct ownership of 750,000 common shares.
Wright also holds derivative securities: 900,000 Performance Warrants with a $0.001 exercise price expiring on June 5, 2030, 78,595 Warrants with a $0.80 exercise price expiring on January 21, 2027, and 50,000 Stock Options with a $0.40 exercise price expiring on June 9, 2030. The stock options and standard warrants vested immediately on their respective grant dates.
Of the Performance Warrants, 150,000 have vested. The remaining 750,000 will vest in three 250,000-warrant tranches tied to specific milestones, including a North American stock exchange listing, a period of at least 20 consecutive trading days at a market capitalization above $80,000,000, and submission of a 510(k) application to the U.S. Food and Drug Administration.
Positive
- None.
Negative
- None.
Insider Trade Summary
5 transactions reported
Mixed
5 txns
Insider
Wright Michael G.
Role
null
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| holding | Stock Options (Right to Buy) | -- | -- | -- |
| holding | Warrants | -- | -- | -- |
| holding | Performance Warrants | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Stock Options (Right to Buy) — 50,000 shares (Direct, null);
Warrants — 78,595 shares (Indirect, N3GU Investments LLC);
Performance Warrants — 900,000 shares (Indirect, N3GU Investments LLC);
Common Stock — 750,000 shares (Direct, null);
Common Stock — 1,498,048 shares (Indirect, N3GU Investments LLC)
Footnotes (1)
- The reported securities are held directly by N3GU Investments LLC, a Wyoming limited liability company, over which the Reporting Person has sole voting and dispositive power. The Stock Options were granted on June 9, 2025 and vested immediately upon the grant date. The Warrants were granted on January 21, 2025 and vested immediately upon the grant date. The Performance Warrants were granted on June 5, 2025. 150,000 Performance Warrants have vested. The remainder of the Performance Warrants will vest and be exercisable upon the following milestone events: (i) 250,000 Performance Warrants upon the Issuer's listing its shares of common stock on a recognized stock exchange in North America; (ii) 250,000 Performance Warrants upon the Issuer's listed shares of common stock trading for at least 20 consecutive trading days at a market capitalization of >$80,000,000 in the currency of the recognized stock exchange in North America on which the shares of common stock are listed; and (iii) 250,000 Performance Warrants upon the Issuer's submitting a 510(k) application to the United States Food and Drug Administration.
Key Figures
Indirect common shares: 1,498,048 shares
Direct common shares: 750,000 shares
Performance Warrants: 900,000 underlying shares at $0.001
+5 more
8 metrics
Indirect common shares
1,498,048 shares
Held via N3GU Investments LLC
Direct common shares
750,000 shares
Directly held by Michael G. Wright
Performance Warrants
900,000 underlying shares at $0.001
Expire June 5, 2030; indirect
Standard Warrants
78,595 underlying shares at $0.80
Expire January 21, 2027; indirect
Stock Options
50,000 underlying shares at $0.40
Expire June 9, 2030; direct
Vested Performance Warrants
150,000 warrants
Already vested from 900,000 total
Market cap milestone
$80,000,000
Required for one 250,000-warrant tranche
Trading days milestone
20 consecutive trading days
Condition for market cap vesting event
Key Terms
Performance Warrants, Stock Options (Right to Buy, market capitalization, 510(k) application, +1 more
5 terms
Performance Warrants financial
"The Performance Warrants were granted on June 5, 2025. 150,000 Performance Warrants have vested."
Stock Options (Right to Buy financial
"Stock Options (Right to Buy) ... The Stock Options were granted on June 9, 2025 and vested immediately"
market capitalization financial
"trading for at least 20 consecutive trading days at a market capitalization of >$80,000,000"
Market capitalization is the total market value of a company’s outstanding shares, calculated by multiplying the current share price by the number of shares issued. It gives a quick snapshot of a company’s size and how investors value it, influencing perceived risk, index membership, and roughly how much it might cost to buy the whole company — like using a sticker price to compare the relative size and price of different houses.
510(k) application medical
"upon the Issuer's submitting a 510(k) application to the United States Food and Drug Administration"
A 510(k) application is a regulatory submission to the U.S. Food and Drug Administration showing that a new medical device is substantially similar to an already approved device, so it can be cleared for marketing without the longest, most rigorous approval process. For investors, a cleared 510(k) means faster, lower-cost market access and lower regulatory risk compared with full approvals, which can speed revenue and reduce uncertainty — like getting permission to sell a new model because it’s close to an existing one.
voting and dispositive power financial
"over which the Reporting Person has sole voting and dispositive power"
FAQ
What did Michael G. Wright report in his Conexeu Sciences (CNXU) Form 3?
Michael G. Wright reported his initial beneficial ownership in Conexeu Sciences. He disclosed indirect holdings of 1,498,048 common shares via N3GU Investments LLC and direct holdings of 750,000 common shares, plus several warrant and option positions with specified exercise prices and expiration dates.
What derivative securities tied to CNXU did Michael G. Wright disclose on the Form 3?
He disclosed 900,000 Performance Warrants with a $0.001 exercise price expiring in 2030, 78,595 Warrants with a $0.80 exercise price expiring in 2027, and 50,000 Stock Options with a $0.40 exercise price expiring in 2030, all referencing Conexeu Sciences common stock.
How do the Performance Warrants for Conexeu Sciences (CNXU) vest for Michael G. Wright?
Of 900,000 Performance Warrants, 150,000 have already vested. The remaining 750,000 vest in three 250,000-warrant tranches upon a North American exchange listing, sustained trading at market capitalization above $80,000,000, and submission of a 510(k) FDA application.
Do the Stock Options and Warrants in Conexeu Sciences (CNXU) require future vesting for Michael G. Wright?
The Stock Options granted on June 9, 2025 and Warrants granted on January 21, 2025 vested immediately on their grant dates. Only the remaining 750,000 Performance Warrants are subject to future vesting based on specific listing, trading, and regulatory milestones.