Coastlands Capital LP (ELOX) shifts into 1.25M Eloxx pre-funded warrants
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Coastlands Capital LP, a ten percent owner of Eloxx Pharmaceuticals, Inc., reported an internal restructuring of its position. On May 27, 2026, it exchanged 1,250,000 shares of common stock for pre-funded warrants to purchase an equivalent number of common shares at an exercise price of $0.01 per share. Following the transaction, Coastlands held no common stock indirectly through Coastlands Capital LP and instead reported 30,612,243 pre-funded warrants. These pre-funded warrants are exercisable at any time, have no expiration date, and are subject to a 4.99% beneficial ownership limitation, which restricts exercises that would push holdings above that level.
Positive
- None.
Negative
- None.
Insider Trade Summary
2 transactions reported
Mixed
2 txns
Insider
Coastlands Capital LP
Role
null
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Other | Pre-funded Warrant | 1,250,000 | $0.00 | -- |
| Other | Common Stock | 1,250,000 | $0.00 | -- |
Holdings After Transaction:
Pre-funded Warrant — 30,612,243 shares (Indirect, By Coastlands Capital LP);
Common Stock — 0 shares (Indirect, By Coastlands Capital LP)
Footnotes (1)
- Pursuant to the terms of that certain Amended and Restated Pre-Funded Warrant to Purchase Common Stock, dated as of April 27, 2026, Coastlands Capital Partners LP (the "Partnership"), exchanged 1,250,000 shares of common stock of the Issuer for pre-funded warrants to purchase an equivalent number of shares of common stock of the Issuer. Coastlands Capital LP ("Coastlands") and Coastlands Capital GP LLC (the "General Partner") are the investment adviser and general partner, respectively, of 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 4 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. 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
Common shares exchanged: 1,250,000 shares
Pre-funded warrants received: 1,250,000 warrants
Exercise price: $0.01 per share
+3 more
6 metrics
Common shares exchanged
1,250,000 shares
Common stock swapped for pre-funded warrants on May 27, 2026
Pre-funded warrants received
1,250,000 warrants
Warrants to purchase an equivalent number of Eloxx common shares
Exercise price
$0.01 per share
Exercise price of Eloxx pre-funded warrants
Pre-funded warrants held after
30,612,243 warrants
Total pre-funded warrants reported following the transaction
Beneficial ownership cap
4.99%
Maximum beneficial ownership allowed after warrant exercise
Common stock after transaction
0 shares
Indirect common stock holding by Coastlands Capital LP following restructuring
Key Terms
Pre-Funded Warrants, beneficially own, pecuniary interest, ten percent owner, +1 more
5 terms
Pre-Funded Warrants financial
"The pre-funded warrants to purchase shares of the Issuer's common stock (the "Pre-Funded Warrants") have no expiration date"
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.
beneficially own financial
"would beneficially own more than 4.99% of the number of shares of common stock outstanding"
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.
pecuniary interest financial
"Each reporting person also disclaims beneficial ownership of common stock except to the extent of that person's pecuniary interest therein"
ten percent owner regulatory
"Coastlands Capital LP is identified as a ten percent owner of the issuer"
Amended and Restated Pre-Funded Warrant to Purchase Common Stock financial
"Pursuant to the terms of that certain Amended and Restated Pre-Funded Warrant to Purchase Common Stock, dated as of April 27, 2026"
FAQ
What did Coastlands Capital LP change in its ELOX holdings on this Form 4?
Coastlands Capital LP exchanged 1,250,000 shares of Eloxx common stock for pre-funded warrants to buy the same number of shares, restructuring its position from stock to derivative warrants without reporting a traditional open-market buy or sell.
How many ELOX pre-funded warrants does Coastlands hold after this transaction?
After the restructuring, Coastlands reported holding 30,612,243 pre-funded warrants for Eloxx common stock. These warrants represent the right to acquire the underlying shares, subject to their exercise price and the stated beneficial ownership limitations.
What are the key terms of the Eloxx pre-funded warrants held by Coastlands?
The Eloxx pre-funded warrants have a $0.01 per-share exercise price, are exercisable at any time after issuance, and have no expiration date. They can be converted into Eloxx common stock, subject to a 4.99% beneficial ownership limitation.
What is the 4.99% beneficial ownership limitation mentioned for ELOX pre-funded warrants?
The 4.99% beneficial ownership limitation prevents a warrant holder and its affiliates from exercising pre-funded warrants if doing so would cause them to beneficially own more than 4.99% of Eloxx’s outstanding common shares immediately after the exercise.
Did Coastlands Capital LP report owning any Eloxx common stock after this filing?
Following the reported restructuring, Coastlands listed zero shares of Eloxx common stock indirectly through Coastlands Capital LP and instead reported its exposure through 30,612,243 pre-funded warrants linked to Eloxx common shares.
Who is associated with Coastlands Capital LP in relation to this Eloxx filing?
The filing notes Coastlands Capital LP, Coastlands Capital GP LLC, Coastlands Capital Partners LP, Coastlands Capital LLC, and control person Matthew Perry, with each party disclaiming beneficial ownership beyond their pecuniary interest in the Eloxx securities.