Regal Partners reports 11.62% stake in EBR Systems

EBR Systems, Inc. Schedule 13G/A — Regal Partners Funds Management Pty Limited and Regal Partners Limited report beneficial ownership of 87,510,124 ordinary shares, representing 11.62% of the class as disclosed in this amendment.

Rhea-AI Filing Summary

EBR Systems, Inc. Schedule 13G/A — Regal Partners Funds Management Pty Limited and Regal Partners Limited report beneficial ownership of 87,510,124 ordinary shares, representing 11.62% of the class as disclosed in this amendment.

The filing lists shared voting power and shared dispositive power of 87,510,124 shares; signatures are dated 07/03/2026.

Insights

Institutional Ownership Analyst

Large passive holding disclosed by Regal Partners at 11.62%.

Regal Partners Funds Management Pty Limited and Regal Partners Limited each report 87,510,124 shares of ordinary shares with shared voting and dispositive power, filed as an amendment to a Schedule 13G/A.

This is a snapshot of beneficial ownership as reported; future filings may update percentages if outstanding share counts change.

Corporate Governance Specialist

Shared voting/dispositive power indicates entity-level control, not sole control by the filers.

The filing specifies 0 shares of sole voting or sole dispositive power and 87,510,124 shares of shared power, which matters for voting coordination and record-keeping.

Stakeholders should note the filing's allocation of authority; any changes would require further amendments.

Key Figures

Beneficial ownership: 87,510,124 shares Percent of class: 11.62% Sole voting power: 0 shares +5 more

8 metrics

Beneficial ownership 87,510,124 shares Amount beneficially owned reported in Item 4(a)

Percent of class 11.62% Percent of class reported in Item 4(b)

Sole voting power 0 shares Item 4(c)(i) shows sole voting power as 0

Shared voting power 87,510,124 shares Item 4(c)(ii) lists shared voting power

Sole dispositive power 0 shares Item 4(c)(iii) shows sole dispositive power as 0

Shared dispositive power 87,510,124 shares Item 4(c)(iv) lists shared dispositive power

CUSIP 268487107 Cover and Item 2(e) identify security CUSIP

Filer signature date 07/03/2026 Signatures dated in the amendment

Key Terms

Schedule 13G/A, Beneficially owned, Shared dispositive power, Sole voting power

4 terms

Schedule 13G/A regulatory

"Amendment No. 1 and Item 1 header"

A Schedule 13G/A is an amended public filing with the U.S. securities regulator that updates a previous Schedule 13G, disclosing when an individual or group holds a substantial (typically over 5%) stake in a company and is claiming a passive, non‑controlling intent. Investors monitor these updates because rising or falling holdings can signal changing confidence, potential future moves, or shifts in voting power — like watching a public ledger where large shareholders quietly adjust their positions.

Beneficially owned financial

"Item 4(a) 'Amount beneficially owned: 87,510,124'"

Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.

Shared dispositive power regulatory

"Item 4(c)(iv) 'Shared power to dispose: 87,510,124'"

Sole voting power regulatory

"Item 4(c)(i) 'Sole power to vote: 0'"

Sole voting power is the exclusive right to cast votes attached to a shareholder’s stock without needing approval from anyone else. Like holding the only remote control for a TV, it lets that holder decide corporate matters such as board members, mergers, and policy changes, making it important to investors because it concentrates control and can strongly influence a company’s strategy and the value of its shares.

FAQ

What stake does Regal Partners report in EBR Systems (EBRCZ)?

They report beneficial ownership of 87,510,124 shares, equal to 11.62% of the class. The Schedule 13G/A amendment lists this percentage and share count as the disclosed holding.

Does Regal Partners hold sole voting control over EBRCZ shares?

No; the filing reports 0 shares of sole voting power and 87,510,124 shares of shared voting power. Shared authority is explicitly shown in the ownership table.

What power to dispose of shares does the filing show?

The filing shows 0 sole dispositive power and 87,510,124 shared dispositive power. That indicates disposition decisions are reported as shared, not sole, by these filers.

When was this Schedule 13G/A amendment signed?

Signatures are dated 07/03/2026 in the filing, and the document header lists 06/30/2026. The amendment identifies the filing entities and their reported ownership on those dates.

What class of securities is covered in this filing?

The filing covers Ordinary Shares, no par value of EBR Systems, identified by CUSIP 268487107. The class and CUSIP are stated on the cover and Item 2(d)/(e).

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Available on EDGAR 07/06/2026 - 09:29 PM Accepted by SEC EDGAR 07/06/2026 - 09:29 PM Learn about SEC filing dates

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 1)

EBR Systems, Inc.

(Name of Issuer)

Ordinary Shares, no par value

(Title of Class of Securities)

268487107

(CUSIP Number)

06/30/2026

(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)

schemaVersion:

SCHEDULE 13G

CUSIP Number(s): 268487107

1

Names of Reporting Persons

Regal Partners Funds Management Pty Limited

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

AUSTRALIA

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 87,510,124.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 87,510,124.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

87,510,124.00

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)

11.62 %

12

Type of Reporting Person (See Instructions)

FI

SCHEDULE 13G

CUSIP Number(s): 268487107

1

Names of Reporting Persons

Regal Partners Limited

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

AUSTRALIA

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 87,510,124.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 87,510,124.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

87,510,124.00

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)

11.62 %

12

Type of Reporting Person (See Instructions)

FI

SCHEDULE 13G

Item 1.
(a)	Name of issuer: EBR Systems, Inc.
(b)	Address of issuer's principal executive offices: 480 Oakmead Parkway, Sunnyvale, CA 94085, USA
Item 2.
(a)	Name of person filing: Regal Partners Funds Management Pty Limited and Regal Partners Limited
(b)	Address or principal business office or, if none, residence: Level 46, Gateway, 1 Macquarie Place, Sydney NSW 2000
(c)	Citizenship: Australian
(d)	Title of class of securities: Ordinary Shares, no par value
(e)	CUSIP No.: 268487107
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).
	FI
Item 4.	Ownership
(a)	Amount beneficially owned: 87,510,124
(b)	Percent of class: 11.62 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 0
	(ii) Shared power to vote or to direct the vote: 87,510,124
	(iii) Sole power to dispose or to direct the disposition of: 0
	(iv) Shared power to dispose or to direct the disposition of: 87,510,124
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
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 acquired and are held in the ordinary course of business and 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.

Regal Partners Funds Management Pty Limited

Signature:	/s/ Candice Driver
Name/Title:	Company Secretary
Date:	07/03/2026

Regal Partners Limited

Signature:	/s/ Kathleen Liu
Name/Title:	Company Secretary
Date:	07/03/2026