City Therapeutics: ARCH buys 170,000 shares at $18
The preferred stock converted automatically at the October 19, 2026 IPO closing on a one-to-1.0983 basis, without consideration.
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Form Type
4
Rhea-AI Filing Summary
City Therapeutics, Inc. reported that ARCH Venture Fund XII, L.P. automatically converted 3,000,000 Series Seed, 4,991,633 Series A and 1,845,585 Series B convertible preferred shares into 3,294,900, 5,482,309 and 2,027,006 common shares, respectively, on October 19, 2026, without payment of consideration. The fund also purchased 170,000 common shares at $18 per share that day.
Insights
Analyzing...
Insider Trade Summary
Net Buyer: 170,000 shares
Net Buy
7 txns
Insider
ARCH Venture Partners XII, LLC, ARCH Venture Partners XII, L.P., ARCH Venture Fund XII, L.P., CRANDELL KEITH, Burow Kristina, GILLIS STEVEN
Role
10% Owner | 10% Owner | 10% Owner | 10% Owner | 10% Owner | 10% Owner
Bought
170,000 shs ($3.06M)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Conversion | Series Seed convertible preferred stock F1, F2 | 3,000,000 | $0.00 | $0.00 |
| Conversion | Series A convertible preferred stock F1, F2 | 4,991,633 | $0.00 | $0.00 |
| Conversion | Series B convertible preferred stock F1, F2 | 1,845,585 | $0.00 | $0.00 |
| Conversion | Common Stock F1, F2 | 3,294,900 | -- | -- |
| Conversion | Common Stock F1, F2 | 5,482,309 | -- | -- |
| Conversion | Common Stock F1, F2 | 2,027,006 | -- | -- |
| Purchase | Common Stock F2 | 170,000 | $18.00 | $3.06M |
Holdings After Transaction:
Series Seed convertible preferred stock — 0 contracts (Indirect, By ARCH Venture Fund XII, L.P.);
Series A convertible preferred stock — 0 contracts (Indirect, By ARCH Venture Fund XII, L.P.);
Series B convertible preferred stock — 0 contracts (Indirect, By ARCH Venture Fund XII, L.P.);
Common Stock — 13,692,507 shares (Indirect, By ARCH Venture Fund XII, L.P.)
Footnotes (2)
- F1. Each share of Series Seed convertible preferred stock, Series A convertible preferred stock and Series B convertible preferred stock (collectively, the "Preferred Stock") was convertible into Common Stock of the Issuer on a one-to-1.0983 basis at the option of the holder, and automatically converted into Common Stock upon the closing of the Issuer's initial public offering on October 19, 2026 without payment of consideration. The Preferred Stock had no expiration date.
- F2. Shares held directly by ARCH Venture Fund XII, L.P. ("ARCH XII"). ARCH Venture Partners XII, L.P. ("AVP XII LP") is the sole general partner of ARCH XII. ARCH Venture Partners XII, LLC ("AVP XII LLC") is the sole general partner of AVP XII LP. Keith Crandell, Kristina Burow, Steven Gillis and Robert Nelsen are members of the investment committee of AVP XII LLC (the "AVP XII LLC Committee Members"). Each of AVP XII LP and AVP XII LLC may be deemed to beneficially own the shares held by ARCH XII, and each of the AVP XII LLC Committee Members may be deemed to share the power to direct the disposition and vote of the shares held by ARCH XII. Each of AVP XII LP, AVP XII LLC and the AVP XII LLC Committee Members disclaims beneficial ownership except to the extent of their pecuniary interest therein, if any. Mr. Nelsen serves on the board of directors of the Issuer and is filing his own Form 4 separately.
Key Figures
Series Seed convertible preferred shares converted: 3,000,000 shares
Series A convertible preferred shares converted: 4,991,633 shares
Series B convertible preferred shares converted: 1,845,585 shares
+5 more
8 metrics
Series Seed convertible preferred shares converted
3,000,000 shares
October 19, 2026
Series A convertible preferred shares converted
4,991,633 shares
October 19, 2026
Series B convertible preferred shares converted
1,845,585 shares
October 19, 2026
Common shares received for Series Seed preferred stock
3,294,900 shares
October 19, 2026 conversion
Common shares received for Series A preferred stock
5,482,309 shares
October 19, 2026 conversion
Common shares received for Series B preferred stock
2,027,006 shares
October 19, 2026 conversion
Common shares purchased
170,000 shares
October 19, 2026
Purchase price
$18 per share
Common shares purchased October 19, 2026
Key Terms
convertible preferred stock, initial public offering, beneficial ownership, pecuniary interest
4 terms
convertible preferred stock financial
"Series Seed convertible preferred stock"
Convertible preferred stock is a special class of company shares that pays priority, usually fixed, payments to holders and can be exchanged later for a set number of common shares. It matters to investors because it combines steady income and added protection with the chance to share in a company’s upside; think of it as a hybrid between a bond that pays regularly and an option to convert into growth-oriented stock, where the conversion rules influence both potential gains and how much common shareholders’ ownership may be reduced.
initial public offering financial
"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.
beneficial ownership regulatory
"disclaims beneficial ownership"
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.
pecuniary interest financial
"to the extent of their pecuniary interest therein"
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