MAK Capital reports 7% stake in Evotec SE

Evotec SE received an amended ownership filing from investment entities affiliated with MAK Capital.

Rhea-AI Filing Summary

Evotec SE received an amended ownership filing from investment entities affiliated with MAK Capital. MAK Capital Fund, MAK Capital One L.L.C. and Michael A. Kaufman report beneficial ownership of 12,503,512 Ordinary Shares, representing 7.0% of Evotec’s Ordinary Shares based on 177,877,782 shares outstanding as of March 30, 2026.

This Amendment No. 1 updates a prior Schedule 13D and notes that the reporting persons sent an April 2 letter to Evotec’s Supervisory and Management Board, filed as an exhibit, in furtherance of their stated purpose for holding the stake.

Insights

Activist ownership & governance analyst

MAK Capital discloses a 7% Evotec stake and engages the board.

Affiliates of MAK Capital report beneficial ownership of 12,503,512 Ordinary Shares of Evotec SE, equal to 7.0% of the company’s Ordinary Shares based on 177,877,782 shares outstanding as of March 30, 2026. This places them among Evotec’s larger shareholders.

The filing is an Amendment No. 1 to a prior Schedule 13D, indicating an ongoing, non-passive investment. The report highlights that the reporting persons have sent an April 2 letter to Evotec’s Supervisory and Management Board, which is attached as an exhibit and tied to their stated purpose of transaction.

The use of a Schedule 13D and direct board communication suggests an engaged shareholder rather than a purely passive holder. Actual implications for strategy or governance depend on the specific points in the April 2 letter and any future responses or changes disclosed in subsequent company communications.

Key Figures

Beneficial ownership: 12,503,512 Ordinary Shares Ownership percentage: 7.0% of Ordinary Shares Shares outstanding: 177,877,782 Ordinary Shares +2 more

5 metrics

Beneficial ownership 12,503,512 Ordinary Shares Shares beneficially owned by MAK Capital affiliates

Ownership percentage 7.0% of Ordinary Shares Based on shares outstanding as of March 30, 2026

Shares outstanding 177,877,782 Ordinary Shares Outstanding as of March 30, 2026, including ADSs

Date triggering filing April 1, 2026 Date of event requiring the Schedule 13D/A

Amendment number Amendment No. 1 First amendment to prior Schedule 13D on Evotec

Key Terms

Schedule 13D, beneficially owned, Ordinary Shares, American Depositary Shares, +2 more

6 terms

Schedule 13D regulatory

"If the filing person has previously filed a statement on Schedule 13G to report the acquisition..."

A Schedule 13D is a legal document that investors file with regulators when they buy a large enough stake in a company to potentially influence its management or decisions. It provides details about the investor’s intention, ownership stake, and plans, helping other investors understand who is gaining control and what their motives might be.

beneficially owned financial

"beneficially owned by the MAK Capital Fund LP, a Bermuda limited partnership..."

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.

Ordinary Shares financial

"Ordinary Shares, no par value per share (Title of Class of Securities)"

Ordinary shares are a type of ownership stake in a company, giving shareholders a right to participate in the company’s profits and decision-making through voting. They are similar to owning a piece of a business, and their value can rise or fall based on the company's performance. Investors buy ordinary shares to potentially earn dividends and benefit from the company's growth over time.

American Depositary Shares financial

"including Ordinary Shares in the form of American Depositary Shares, each representing one-half of one Ordinary Share"

American depositary shares (ADSs) are a way for investors in the United States to buy shares of foreign companies without dealing with international markets directly. They represent ownership in a foreign company's stock and are traded on U.S. stock exchanges, making it easier for American investors to buy, sell, and own parts of companies from around the world.

shared voting power financial

"Shared Voting Power 12,503,512.00"

Shared voting power occurs when two or more parties jointly have the right to vote or decide how a block of company shares is cast, like co-owners who must agree before moving a piece of furniture. Investors care because who controls voting rights affects board elections, major corporate decisions and takeover outcomes, and shared control can alter regulatory disclosures and the practical influence any holder has over a company’s direction and value.

shared dispositive power financial

"Shared Dispositive Power 12,503,512.00"

FAQ

What stake in Evotec SE does MAK Capital report in this Schedule 13D/A?

The filing reports that MAK Capital Fund, MAK Capital One L.L.C. and Michael A. Kaufman beneficially own 12,503,512 Evotec SE Ordinary Shares, representing 7.0% of the company’s Ordinary Shares based on 177,877,782 shares outstanding as of March 30, 2026.

Who are the reporting persons in the Evotec SE (EVO) Schedule 13D/A?

The Schedule 13D/A lists MAK Capital Fund LP, MAK Capital One L.L.C., and Michael A. Kaufman as the reporting persons. MAK Capital acts as investment manager to the fund, and Kaufman is the Managing Member of MAK Capital, giving them shared voting and dispositive power over the reported shares.

What percentage of Evotec SE’s Ordinary Shares does 12,503,512 shares represent?

The filing states that 12,503,512 Evotec SE Ordinary Shares represent 7.0% of the class. This percentage is calculated using 177,877,782 Ordinary Shares outstanding as of March 30, 2026, including shares represented by American Depositary Shares, as reported by Evotec on its website.

What is the purpose of this Amendment No. 1 to Evotec SE’s Schedule 13D?

Amendment No. 1 updates the original Schedule 13D regarding Evotec SE Ordinary Shares held by the MAK entities. It notes that, in furtherance of their transaction purpose, the reporting persons sent an April 2 letter to Evotec’s Supervisory and Management Board, which is filed as an exhibit.

What exhibits are included with the Evotec SE (EVO) Schedule 13D/A filing?

The exhibits include a schedule of transactions in Evotec securities in the last 60 days dated April 1, 2026, an April 2 letter to Evotec’s Supervisory and Management Board, and a Joint Filing Agreement dated March 30, 2026, which is incorporated by reference into this amendment.

How is Evotec SE’s share count defined for the 7.0% ownership calculation?

The 7.0% ownership figure is based on 177,877,782 Evotec SE Ordinary Shares outstanding as of March 30, 2026. This total includes Ordinary Shares in the form of American Depositary Shares, each representing one-half of one Ordinary Share, as reported by Evotec on its website.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 04/06/2026 - 12:56 PM Learn about SEC filing dates

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 1)

Evotec SE

(Name of Issuer)

Ordinary Shares, no par value per share

(Title of Class of Securities)

30050E105

(CUSIP Number)

David N. Smith, Jr.
590 Madison Avenue, 31st Floor
New York, NY, 10022
212-486-3211

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

04/01/2026

(Date of Event Which Requires Filing of This Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.

The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

schemaVersion:

SCHEDULE 13D

CUSIP Number(s): 30050E105

1

Name of reporting person

MAK Capital Fund LP

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

WC

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

BERMUDA

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 12,503,512.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 12,503,512.00

11

Aggregate amount beneficially owned by each reporting person

12,503,512.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

7.0 %

14

Type of Reporting Person (See Instructions)

PN

Comment for Type of Reporting Person:

For item 13: The calculation is based upon 177,877,782 Ordinary Shares (including Ordinary Shares in the form of American Depositary Shares, each representing one-half of one Ordinary Share), outstanding as of March 30, 2026, as reported by the Issuer on its website.

SCHEDULE 13D

CUSIP Number(s): 30050E105

1

Name of reporting person

MAK Capital One L.L.C.

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 12,503,512.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 12,503,512.00

11

Aggregate amount beneficially owned by each reporting person

12,503,512.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

7.0 %

14

Type of Reporting Person (See Instructions)

IA

Comment for Type of Reporting Person:

For item 13: The calculation is based upon 177,877,782 Ordinary Shares (including Ordinary Shares in the form of American Depositary Shares, each representing one-half of one Ordinary Share), outstanding as of March 30, 2026, as reported by the Issuer on its website.

SCHEDULE 13D

CUSIP Number(s): 30050E105

1

Name of reporting person

Michael A. Kaufman

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 12,503,512.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 12,503,512.00

11

Aggregate amount beneficially owned by each reporting person

12,503,512.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

7.0 %

14

Type of Reporting Person (See Instructions)

IN

Comment for Type of Reporting Person:

For item 13: The calculation is based upon 177,877,782 Ordinary Shares (including Ordinary Shares in the form of American Depositary Shares, each representing one-half of one Ordinary Share), outstanding as of March 30, 2026, as reported by the Issuer on its website.

SCHEDULE 13D

Item 1.	Security and Issuer
(a)	Title of Class of Securities: Ordinary Shares, no par value per share
(b)	Name of Issuer: Evotec SE
(c)	Address of Issuer's Principal Executive Offices: Essener Bogen 7, Hamburg, GERMANY , 22419.
Item 4.	Purpose of Transaction
	SCHEDULE 13D A/1 Amendment 1 This Amendment 1 ("Amendment 1") of Schedule 13D is filed with respect to the ordinary shares, no par value per share (the "Shares") of EVOTEC SE (the "Issuer") beneficially owned by the MAK Capital Fund LP, a Bermuda limited partnership ("MAK Fund"), MAK Capital One L.L.C., a Delaware limited liability company ("MAK Capital"), as the investment manager of MAK Fund and Michael A. Kaufman, as Managing Member of MAK Capital (collectively with MAK Fund and MAK Capital, "MAK" and together MAK Fund and MAK Capital collectively the "Reporting Persons"), amends and supplements the Schedule 13D initially filed with the Securities and Exchange Commission (the "SEC") on March 30, 2026 the "Schedule 13D". Except as set forth herein in this Amendment 1, the Schedule 13D is unmodified. In furtherance of the Purpose of Transaction, the Reporting Persons sent a letter to the Issuer's Supervisory & Management Board, which letter is attached as Exhibit 2 to this Amendment 1.
Item 7.	Material to be Filed as Exhibits.
	1. Transactions in Securities in the Last 60 Days, dated April 1, 2026. 2. April 2 Letter to the Supervisory Board and Management Board of Evotec SE 3. Joint Filing Agreement, dated March 30, 2026 is hereby incorporated by reference.

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.

MAK Capital Fund LP

Signature:	/s/ Michael A. Kaufman
Name/Title:	Managing Member
Date:	04/06/2026

MAK Capital One L.L.C.

Signature:	/s/ Michael A. Kaufman
Name/Title:	Managing Member
Date:	04/06/2026

Michael A. Kaufman

Signature:	/s/ Michael A. Kaufman
Name/Title:	Michael A. Kaufman
Date:	04/06/2026