Edesa Biotech disclosed a 600,000 shares holding by Sirenia Capital/related filer, representing 7.2% of the class. The filing states the percentage is calculated using 8,348,161 Common Shares outstanding as of February 12, 2026.
The statement is a Schedule 13G joint filing by Sirenia Capital Management LP and Alex Silverstein and notes the shares are held by SILV Fund, Ltd.; shared voting and dispositive power of 600,000 shares is reported.
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Insights
Large passive stake disclosure: 600,000 shares (7.2%) reported.
The filing lists 600,000 Common Shares held by SILV Fund, Ltd., managed by Sirenia, representing 7.2% of the outstanding class based on February 12, 2026 outstanding shares of 8,348,161. The filing is a joint Schedule 13G disclosure.
Holding is presented with shared voting and dispositive power; the filing includes a Joint Filing Agreement as Exhibit 99.1. Further changes in reported ownership would appear in subsequent filings.
Passive investor position flagged; governance influence limited by shared power.
The report attributes shared voting power and shared dispositive power of 600,000 shares to Sirenia/Silverstein rather than sole control. The statement disclaims automatic beneficial-owner conclusions under the Act.
Stakeholders may watch for additional disclosures if voting arrangements change; the filing does not state activist intent or transaction plans.
Key Figures
Reported shares held:600,000 sharesPercent of class:7.2%Shares outstanding used:8,348,161 shares+2 more
5 metrics
Reported shares held600,000 sharesheld by SILV Fund, Ltd. (reported on Schedule 13G)
Percent of class7.2%calculated using outstanding shares as of <date>February 12, 2026</date>
Shares outstanding used8,348,161 sharesaggregate outstanding per Form 10-Q for quarter ended <date>December 31, 2025</date>
CUSIP27966L306Edesa Biotech common shares, without par value
Filing signatures05/15/2026signed by Kolby Loft and Alex Silverstein
"This statement is filed by: Sirenia Capital Management LP ... (Schedule 13G)"
A Schedule 13G is a formal document that investors file with the government when they acquire a large ownership stake in a company, usually for investment purposes rather than control. It helps keep the public informed about who owns significant parts of a company's shares, which can influence how the company is managed and how investors make decisions. Filing this schedule is important for transparency and understanding the ownership landscape of publicly traded companies.
Shared Dispositive Powerregulatory
"Shared Dispositive Power 600,000.00"
Joint Filing Agreementregulatory
"They have entered into a Joint Filing Agreement, a copy of which is filed as Exhibit 99.1"
What stake does Sirenia hold in Edesa Biotech (EDSA)?
Sirenia reports holding 600,000 shares, equal to 7.2% of Edesa's common stock. The percentage is calculated using 8,348,161 shares outstanding as of February 12, 2026, per the company's 10-Q.
Who filed the Schedule 13G for EDSA and why?
The filing was made jointly by Sirenia Capital Management LP and Alex Silverstein. They report ownership on behalf of SILV Fund, Ltd., under a Joint Filing Agreement (Exhibit 99.1).
Does the filing indicate Sirenia has sole voting control of the shares?
No. The filing reports shared voting power and shared dispositive power over 600,000 shares, not sole control. It does not describe sole voting authority.
What outstanding share base was used to calculate the 7.2% figure?
The 7.2% figure uses an aggregate of 8,348,161 Common Shares outstanding as of February 12, 2026, as reported in the issuer's Form 10-Q for the quarter ended December 31, 2025.
Does the Schedule 13G state Sirenia plans to buy or sell additional EDSA shares?
The filing does not state any purchases or sales or transaction plans; it simply reports current holdings and the Joint Filing Agreement. Subsequent filings would disclose changes in ownership.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
Edesa Biotech, Inc.
(Name of Issuer)
Common Shares, without par value
(Title of Class of Securities)
27966L306
(CUSIP Number)
03/31/2026
(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):
27966L306
1
Names of Reporting Persons
Sirenia 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
600,000.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
600,000.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
600,000.00
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)
7.2 %
12
Type of Reporting Person (See Instructions)
IA, PN
SCHEDULE 13G
CUSIP Number(s):
27966L306
1
Names of Reporting Persons
Alex Silverstein
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
0.00
6
Shared Voting Power
600,000.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
600,000.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
600,000.00
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)
7.2 %
12
Type of Reporting Person (See Instructions)
HC, IN
SCHEDULE 13G
Item 1.
(a)
Name of issuer:
Edesa Biotech, Inc.
(b)
Address of issuer's principal executive offices:
100 Spy Court, Markham, ON, Canada L3R 5H6
Item 2.
(a)
Name of person filing:
This statement is filed by:
(i) Sirenia Capital Management LP ("Sirenia") with respect to the common shares, without par value ("Common Shares"), of Edesa Biotech, Inc. (the "Issuer") held by SILV Fund, Ltd. (the "Sirenia Fund"), an investment fund it manages; and
(ii) Alex Silverstein ("Mr. Silverstein"), the managing member of Sirenia Capital Management GP LLC, the general partner of Sirenia, with respect to the Common Shares held by the Sirenia Fund.
The foregoing persons are hereinafter sometimes collectively referred to as the "Reporting Persons."
The filing of this statement should not be construed as an admission that any of the foregoing persons or any Reporting Person is, for the purposes of Section 13 of the Securities Exchange Act of 1934, the beneficial owner of the securities reported herein.
Sirenia and Mr. Silverstein have entered into a Joint Filing Agreement, a copy of which is filed with this Schedule 13G as Exhibit 99.1, pursuant to which they have agreed to file this Schedule 13G jointly in accordance with the provisions of Rule 13d-1(k) of the Securities Exchange Act of 1934 (the "Act").
(b)
Address or principal business office or, if none, residence:
The address of the principal business office of Sirenia and Mr. Silverstein is 1674 Meridian Avenue, Suite 320, Miami Beach, FL 33139.
(c)
Citizenship:
Sirenia is a Delaware limited partnership. Mr. Silverstein is a United States citizen.
(d)
Title of class of securities:
Common Shares, without par value
(e)
CUSIP Number(s):
27966L306
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 information required by Item 4(a) is set forth in Row 9 of the cover page for each of the Reporting Persons and is incorporated herein by reference.
The percentage set forth in this Schedule 13G is calculated based upon an aggregate of 8,348,161 Common Shares outstanding as of February 12, 2026, as reported in the Issuer's Quarterly Report on Form 10-Q for the quarterly period ended December 31, 2025, filed with the Securities and Exchange Commission on February 13, 2026.
(b)
Percent of class:
7.2%
(c)
Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
The information required by Item 4(c)(i) is set forth in Row 5 of the cover page for each of the Reporting Persons and is incorporated herein by reference.
(ii) Shared power to vote or to direct the vote:
The information required by Item 4(c)(ii) is set forth in Row 6 of the cover page for each of the Reporting Persons and is incorporated herein by reference.
(iii) Sole power to dispose or to direct the disposition of:
The information required by Item 4(c)(iii) is set forth in Row 7 of the cover page for each of the Reporting Persons and is incorporated herein by reference.
(iv) Shared power to dispose or to direct the disposition of:
The information required by Item 4(c)(iv) is set forth in Row 8 of the cover page for each of the Reporting Persons and is incorporated herein by reference.
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.
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.
See Item 2(a). The Sirenia Fund has the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, more than 5 percent of the outstanding Common Shares.
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.
Sirenia Capital Management LP
Signature:
/s/ Kolby Loft
Name/Title:
Kolby Loft, General Counsel & Chief Compliance Officer
