Fichthorn reports 0.3% DiaMedica (DMAC) stake as Dialectic entities exit

Rhea-AI Filing Summary

Dialectic Life Sciences SPV LLC, related Dialectic entities, and John Fichthorn updated their ownership report on DiaMedica Therapeutics Inc. common shares. The Dialectic entities now report beneficial ownership of 0 shares, or 0.0% of the class. Fichthorn individually reports beneficial ownership of 153,983 voting common shares, representing 0.3% of the outstanding class, with sole voting and dispositive power over this amount.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 1)

DiaMedica Therapeutics Inc.

(Name of Issuer)

Voting common shares, no par value per share

(Title of Class of Securities)

25253X207

(CUSIP Number)

12/31/2025

(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. 25253X207

1

Names of Reporting Persons

Dialectic Life Sciences SPV 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

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

0.00

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)

0 %

12

Type of Reporting Person (See Instructions)

OO

SCHEDULE 13G

CUSIP No. 25253X207

1

Names of Reporting Persons

Dialectic LS Manager 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

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

0.00

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)

0 %

12

Type of Reporting Person (See Instructions)

OO

SCHEDULE 13G

CUSIP No. 25253X207

1

Names of Reporting Persons

Dialectic Capital Management, LP

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

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

0.00

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)

0 %

12

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13G

CUSIP No. 25253X207

1

Names of Reporting Persons

Dialectic Partners, 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

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

0.00

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)

0 %

12

Type of Reporting Person (See Instructions)

OO

SCHEDULE 13G

CUSIP No. 25253X207

1

Names of Reporting Persons

John Fichthorn

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 153,983.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 153,983.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

153,983.00

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)

0.3 %

12

Type of Reporting Person (See Instructions)

HC, IN

SCHEDULE 13G

Item 1.
(a)	Name of issuer: DiaMedica Therapeutics Inc.
(b)	Address of issuer's principal executive offices: 301 CARLSON PARKWAY, SUITE 210, MINNEAPOLIS, MN, 55305
Item 2.
(a)	Name of person filing: Dialectic Life Sciences SPV LLC Dialectic LS Manager LLC Dialectic Capital Management, LP Dialectic Partners, LLC John Fichthorn
(b)	Address or principal business office or, if none, residence: Dialectic Life Sciences SPV LLC 119 ROWAYTON AVENUE, 2ND FLOOR, NORWALK, CT, 06853 Dialectic LS Manager LLC 119 ROWAYTON AVENUE, 2ND FLOOR, NORWALK, CT, 06853 Dialectic Capital Management, LP 119 ROWAYTON AVENUE, 2ND FLOOR, NORWALK, CT, 06853 Dialectic Partners, LLC 2ND FLOOR 119 ROWAYTON AVE, NORWALK, CT, 06853 John Fichthorn 119 ROWAYTON AVENUE, 2ND FLOOR, NORWALK, CT, 06853
(c)	Citizenship: Dialectic Life Sciences SPV LLC - Delaware Dialectic LS Manager LLC - Delaware Dialectic Capital Management, LP - Delaware Dialectic Partners, LLC - Delaware John Fichthorn - United States
(d)	Title of class of securities: Voting common shares, no par value per share
(e)	CUSIP No.: 25253X207
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: Dialectic Life Sciences SPV LLC - 0 Dialectic LS Manager LLC - 0 Dialectic Capital Management, LP - 0 Dialectic Partners, LLC - 0 John Fichthorn - 153,983
(b)	Percent of class: Dialectic Life Sciences SPV LLC - 0.0% Dialectic LS Manager LLC - 0.0% Dialectic Capital Management, LP - 0.0% Dialectic Partners, LLC - 0.0% John Fichthorn - 0.3%
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: Dialectic Life Sciences SPV LLC - 0 Dialectic LS Manager LLC - 0 Dialectic Capital Management, LP - 0 Dialectic Partners, LLC - 0 John Fichthorn - 153,983
	(ii) Shared power to vote or to direct the vote: Dialectic Life Sciences SPV LLC - 0 Dialectic LS Manager LLC - 0 Dialectic Capital Management, LP - 0 Dialectic Partners, LLC - 0 John Fichthorn - 0
	(iii) Sole power to dispose or to direct the disposition of: Dialectic Life Sciences SPV LLC - 0 Dialectic LS Manager LLC - 0 Dialectic Capital Management, LP - 0 Dialectic Partners, LLC - 0 John Fichthorn - 153,983
	(iv) Shared power to dispose or to direct the disposition of: Dialectic Life Sciences SPV LLC - 0 Dialectic LS Manager LLC - 0 Dialectic Capital Management, LP - 0 Dialectic Partners, LLC - 0 John Fichthorn - 0
Item 5.	Ownership of 5 Percent or Less of a Class.
	Ownership of 5 percent or less of a class
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required. All securities reported in this Schedule 13G are owned by advisory clients of Dialectic Capital Management, LP and/or its related persons' proprietary accounts. Other than the reporting persons listed herein, none of such persons may be deemed to beneficially own more than 5% of the Voting common shares, no par value per share.
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	If a parent holding company has filed this schedule, pursuant to Rule 13d-1(b)(ii)(G), so indicate under Item 3(g) and attach an exhibit stating the identity and the Item 3 classification of the relevant subsidiary. If a parent holding company has filed this schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating the identification of the relevant subsidiary. Please see Exhibit B attached hereto.
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.

Dialectic Life Sciences SPV LLC

Signature:	By: /s/ Dialectic LS Manager LLC, its Managing Member
Name/Title:	John Fichthorn / Managing Member of the Managing Member
Date:	02/17/2026

Dialectic LS Manager LLC

Signature:	By: /s/ John Fichthorn
Name/Title:	John Fichthorn / Managing Member
Date:	02/17/2026

Dialectic Capital Management, LP

Signature:	By: /s/ Dialectic Partners, LLC, its General Partner
Name/Title:	John Fichthorn / Managing Member of the General Partner
Date:	02/17/2026

Dialectic Partners, LLC

Signature:	By: /s/ John Fichthorn
Name/Title:	John Fichthorn / Managing Member
Date:	02/17/2026

John Fichthorn

Signature:	By: /s/ John Fichthorn
Name/Title:	John Fichthorn
Date:	02/17/2026

Exhibit Information

Material to be Filed as Exhibit: Exhibit A - Joint Filing Agreement Exhibit B - Control Person Identification

FAQ

What ownership in DiaMedica Therapeutics (DMAC) does John Fichthorn report?

John Fichthorn reports beneficial ownership of 153,983 DiaMedica voting common shares, equal to 0.3% of the class. He has sole voting and sole dispositive power over these shares according to the amended Schedule 13G filing.

Do Dialectic entities still hold a significant stake in DiaMedica Therapeutics (DMAC)?

Dialectic Life Sciences SPV LLC and related Dialectic entities report beneficial ownership of 0 DiaMedica shares, representing 0.0% of the class. All shares referenced in the filing are owned by advisory clients and proprietary accounts, not by the Dialectic reporting entities themselves.

What percentage of DiaMedica Therapeutics (DMAC) is owned by the reporting group?

The Dialectic entities each report 0.0% ownership of DiaMedica voting common shares. Only John Fichthorn shows a position, reporting 0.3% of the class as beneficially owned, with no other person identified as holding more than 5% through these arrangements.

Why was this amended Schedule 13G/A filed for DiaMedica Therapeutics (DMAC)?

The amended Schedule 13G/A reflects updated ownership information as of December 31, 2025. It shows the Dialectic entities at 0.0% ownership and John Fichthorn at 0.3%, confirming the group now owns 5% or less of DiaMedica’s voting common shares.

Who actually owns the DiaMedica Therapeutics (DMAC) shares referenced in the filing?

The filing states all securities reported are owned by advisory clients of Dialectic Capital Management, LP and related proprietary accounts. Other than the listed reporting persons, no other person is deemed to beneficially own more than 5% of DiaMedica voting common shares.

Does the filing indicate any intent to influence control of DiaMedica Therapeutics (DMAC)?

The certification states the securities were not acquired and are not held for the purpose of changing or influencing control of DiaMedica. It also notes they are not held in connection with any transaction designed to affect control, aside from certain nomination-related activities referenced in the certification.