CYBIN INC. reports that Sirenia Capital Management LP and Alex Silverstein together beneficially hold 3,677,966 Common Shares, representing 7.2% of the class when assuming exercise of related warrants. The filing states 50,035,795 Common Shares outstanding as of February 12, 2026 and notes that the reported position includes 969,500 shares issuable upon exercise of warrants.
The statement is a Schedule 13G disclosure of ownership by an institutional investor and its managing member and quantifies shared voting and dispositive power. The percentage is calculated on the cited outstanding share base and is presented with the exercise assumption specified in the filing.
Positive
None.
Negative
None.
Insights
Sirenia reports a 7.2% economic stake including warrant exercises.
Sirenia Capital Management and its managing member report beneficial ownership of 3,677,966 shares, based on an outstanding share count of February 12, 2026. The filing explicitly states the position "includes 969,500 Common Shares issuable upon exercise of warrants."
Reported percentages are computed "assuming the exercise of the warrants"; actual percent will vary with exercise decisions and any changes to the outstanding share count. Cash‑flow treatment and any planned dispositions are not stated in the provided excerpt.
Filing is a passive institutional disclosure under Rule 13d-1(k).
The statement is filed jointly by an investment manager and its managing member and includes a Joint Filing Agreement (Exhibit 99.1). It lists shared voting and dispositive power of 3,677,966 shares, reflecting holdings held by an affiliated fund.
As a Schedule 13G, this filing is informational about ownership structure; it does not by itself indicate any change in control intent or planned corporate actions. Subsequent filings would disclose affirmative changes in intent or transactions.
Key Figures
Shares reported beneficially owned:3,677,966 sharesPercent of class:7.2%Shares outstanding:50,035,795 shares+1 more
4 metrics
Shares reported beneficially owned3,677,966 sharesreported holding by Sirenia/Silverstein
Percent of class7.2%calculated assuming exercise of warrants
Shares outstanding50,035,795 sharesas of <date>February 12, 2026</date>
Warrants issuable969,500 sharesincluded in reported position as issuable upon exercise
Key Terms
beneficially owned, shared dispositive power, issuable upon exercise of warrants
3 terms
beneficially ownedregulatory
"The Sirenia Fund has the right to receive or the power to direct"
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 powerregulatory
"Shared Dispositive Power 3,677,966.00"
issuable upon exercise of warrantsfinancial
"Includes 969,500 Common Shares issuable upon exercise of warrants"
Who reported holdings for CYBN in this Schedule 13G?
Sirenia Capital Management LP and Alex Silverstein filed the Schedule 13G. They report beneficial ownership through SILV Fund, Ltd., and filed a Joint Filing Agreement as Exhibit 99.1 to make the joint filing.
How many CYBN shares are reported and what percent do they represent?
The filing reports 3,677,966 Common Shares, representing 7.2% of the class. The percentage is calculated assuming exercise of warrants and uses the stated outstanding share base of 50,035,795.
What outstanding share count does the filing use for CYBN?
The Schedule 13G cites an aggregate of 50,035,795 Common Shares outstanding as of February 12, 2026, taken from Exhibit 99.3 to the issuer's Form 6-K filed March 5, 2026, which the report references for its percent calculation.
Do the reported holdings include convertible instruments or warrants?
Yes. The filing states the reported position includes 969,500 Common Shares issuable upon exercise of warrants held by the Sirenia Fund; the 7.2% figure is calculated assuming those warrants are exercised.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
CYBIN INC.
(Name of Issuer)
Common Shares, no par value
(Title of Class of Securities)
23256X407
(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):
23256X407
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
3,677,966.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
3,677,966.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
3,677,966.00
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
Comment for Type of Reporting Person: Includes 969,500 Common Shares (as defined in Item 2(a)) issuable upon exercise of warrants.
SCHEDULE 13G
CUSIP Number(s):
23256X407
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
3,677,966.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
3,677,966.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
3,677,966.00
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
Comment for Type of Reporting Person: Includes 969,500 Common Shares issuable upon exercise of warrants.
SCHEDULE 13G
Item 1.
(a)
Name of issuer:
CYBIN INC.
(b)
Address of issuer's principal executive offices:
100 King Street West, Suite 5600, Toronto, Ontario, Canada M5X 1C9
Item 2.
(a)
Name of person filing:
This statement is filed by:
(i) Sirenia Capital Management LP ("Sirenia") with respect to the common shares, no par value ("Common Shares"), of Cybin Inc. (the "Issuer") held by, and issuable upon exercise of warrants 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, and issuable upon exercise of warrants 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, no par value
(e)
CUSIP Number(s):
23256X407
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 50,035,795 Common Shares outstanding as of February 12, 2026, as reported in Exhibit 99.3 to the Issuer's Report of Foreign Private Issuer on Form 6-K, filed with the Securities and Exchange Commission on March 5, 2026, and assumes the exercise of the warrants held by the Sirenia Fund.
(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
