Coastlands Capital lists large Eloxx (ELOX) stock and pre-funded warrant stake
Rhea-AI Filing Summary
Coastlands Capital LP filed an initial ownership report for Eloxx Pharmaceuticals, Inc., showing indirect holdings in the company. The filing reports 1,250,000 shares of common stock held indirectly through Coastlands Capital LP. It also reports Pre-Funded Warrants that are exercisable into 29,362,243 shares of common stock at an exercise price of $0.01 per share.
The Pre-Funded Warrants have no expiration date and are exercisable at any time after issuance, subject to a 4.99% beneficial ownership limit, which restricts exercise if it would push the holder above that ownership threshold. The reporting persons jointly file and each disclaims beneficial ownership beyond their pecuniary interest.
Positive
- None.
Negative
- None.
Insider Trade Summary
2 transactions reported
Mixed
2 txns
Insider
Coastlands Capital LP
Role
10% Owner
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| holding | Pre-funded Warrant | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Pre-funded Warrant — 29,362,243 shares (Indirect, By Coastlands Capital LP);
Common Stock — 1,250,000 shares (Indirect, By Coastlands Capital LP)
Footnotes (2)
- F1. Coastlands Capital LP ("Coastlands") and Coastlands Capital GP LLC (the "General Partner") are the investment adviser and general partner, respectively, of Coastlands Capital Partners LP (the "Partnership"). Coastlands Capital LLC ("Coastlands GP") is the general partner of Coastlands. Matthew Perry is the control person of Coastlands, the Partnership, Coastlands GP and the General Partner. The reporting persons are filing this Form 3 jointly, but not as members of a group, and each disclaims membership in a group. Each reporting person also disclaims beneficial ownership of common stock except to the extent of that person's pecuniary interest therein.
- F2. The pre-funded warrants to purchase shares of the Issuer's common stock (the "Pre-Funded Warrants") have no expiration date and are exercisable at any time after the date of issuance. A holder of Pre-Funded Warrants may not exercise the Pre-Funded Warrant if the holder, together with its affiliates, would beneficially own more than 4.99% of the number of shares of common stock outstanding immediately after giving effect to such exercise.
Key Figures
Indirect common stock holdings: 1,250,000 shares
Pre-Funded Warrants underlying shares: 29,362,243 shares
Warrant exercise price: $0.01 per share
+1 more
4 metrics
Indirect common stock holdings
1,250,000 shares
Common Stock indirectly owned by Coastlands Capital LP
Pre-Funded Warrants underlying shares
29,362,243 shares
Common Stock underlying Pre-Funded Warrants, indirect ownership
Warrant exercise price
$0.01 per share
Exercise price of Eloxx Pre-Funded Warrants
Beneficial ownership limit
4.99%
Cap on beneficial ownership after warrant exercise
Key Terms
Pre-Funded Warrants, beneficial ownership, pecuniary interest, beneficially own
4 terms
Pre-Funded Warrants financial
"The pre-funded warrants to purchase shares of the Issuer's common stock"
Pre-funded warrants are financial instruments that give investors the right to purchase a company's stock at a set price, but with most or all of the purchase price paid upfront. They function like a coupon or gift card for stock, allowing investors to buy shares later at a fixed price, which can be beneficial if they want to avoid future price increases. This makes them important for investors seeking flexibility and certainty in their investment plans.
beneficial ownership financial
"disclaims beneficial ownership of common stock except to the extent"
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
"except to the extent of that person's pecuniary interest therein"
beneficially own financial
"would beneficially own more than 4.99% of the number of shares"
Beneficially own means having the economic rights and risks of a security—such as the right to receive dividends, sell the shares, or profit from price changes—whether or not your name appears on the official share register. Think of it like renting a car: you use it and reap the benefits even if the title lists someone else. Investors care because beneficial ownership determines who truly controls value, must be disclosed under securities rules, and can signal potential influence or trading activity that affects a stock’s price.
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What did Coastlands Capital LP report in its Form 3 for ELOX?
Coastlands Capital LP reported indirect ownership of 1,250,000 Eloxx common shares and Pre-Funded Warrants for 29,362,243 underlying shares. This Form 3 is an initial statement of holdings, not a new purchase or sale transaction.
What are the terms of the Pre-Funded Warrants reported for Eloxx (ELOX)?
The filing lists Pre-Funded Warrants exercisable into 29,362,243 Eloxx common shares at an exercise price of $0.01 per share. The warrants have no expiration date and are exercisable at any time after issuance, subject to an ownership cap.
What is the 4.99% beneficial ownership limit mentioned in the Eloxx (ELOX) Form 3?
The Form 3 states that a holder cannot exercise Pre-Funded Warrants if, after exercise, it would beneficially own more than 4.99% of Eloxx common shares. This cap limits how many warrants can be exercised at once, based on shares outstanding.
Do the reporting persons claim full beneficial ownership of the Eloxx (ELOX) securities?
The footnote explains each reporting person disclaims beneficial ownership of Eloxx common stock except to the extent of that person’s pecuniary interest. They are filing jointly, but explicitly state they are not members of a group.
Are the Pre-Funded Warrants in the Eloxx (ELOX) Form 3 considered derivative holdings?
Yes. The derivative summary shows Pre-Funded Warrants with an exercise price of $0.01, indirectly held and convertible into 29,362,243 Eloxx common shares. These represent a derivative position rather than already issued common stock.