[SCHEDULE 13G] Hinge Health, Inc. SEC Filing

Rhea-AI Filing Summary

Atomico Advisors IV, Ltd. and its affiliated funds have filed a Schedule 13G disclosing a passive ownership position in Hinge Health, Inc. (HNGE) following the company’s 23 May 2025 IPO.

• Aggregate beneficial ownership: 6,713,063 Class B shares, convertible 1-for-1 into Class A.
• Economic stake equals 8.3 % of the 80,597,784 total shares outstanding post-IPO.
• All voting and dispositive power is reported as shared; no sole power.
• Class B shares carry 15 votes per share, giving Atomico considerably greater voting influence than its economic interest implies; this higher voting weight is not reflected in the 8.3 % figure because percentages are shown on an as-converted basis.
• The filing is made under Rule 13d-1(c)/(d), indicating a passive investment intent with no activist agenda disclosed.

The disclosure confirms that a prominent venture investor has retained a meaningful stake through the IPO. While it does not change financial outlook, the dual-class structure heightens governance concentration, a consideration for shareholders assessing control dynamics.

Positive

• Atomico Advisors IV disclosed a sizable 6.7 M-share, 8.3 % stake, signaling continued confidence in Hinge Health post-IPO
• Presence of a well-known venture firm may be viewed favorably by other investors and partners

Negative

• Dual-class structure grants 15x voting power, concentrating governance and potentially diluting minority influence
• No financial metrics, strategic initiatives, or additional capital commitments were provided

Insights

Equity Research Analyst

TL;DR: Atomico holds 8.3 % of HNGE, boosting voting power via 15-vote Class B shares; information is noteworthy but not thesis-changing.

The 13G shows Atomico kept 6.7 M shares after Hinge Health’s IPO, translating to an 8.3 % economic stake. Because these are Class B shares with 15 votes each, Atomico’s effective influence could exceed 30 % of total voting rights, reinforcing the founders’ and early investors’ control. The filing is passive, so no immediate strategic shift is implied. Investors may view continued backing from a top-tier VC as a confidence signal, but absent financial data or transaction terms, the event is modestly informative rather than valuation-moving.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

Hinge Health, Inc.

(Name of Issuer)

Class A Common Stock, par value $0.00001 per share

(Title of Class of Securities)

433313103

(CUSIP Number)

05/23/2025

(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)

SCHEDULE 13G

CUSIP No. 433313103

1

Names of Reporting Persons

Atomico Advisors IV, Ltd.

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

CAYMAN ISLANDS

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 6,713,063.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 6,713,063.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

6,713,063.00

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)

8.3 %

12

Type of Reporting Person (See Instructions)

PN

Comment for Type of Reporting Person: The number of shares beneficially owned consists of (i) 5,476,823 shares of Class B Common Stock held by Atomico IV L.P. and (ii) 1,236,240 shares of Class B Common Stock held by Atomico IV (Guernsey), L.P. Atomico Advisors IV, Ltd. is the general partner of Atomico IV L.P. and Atomico IV (Guernsey), L.P. Percentage ownership is based on 80,597,784 total shares of Class A Common Stock, Class B Common Stock, and Series E Preferred Stock outstanding immediately following the Issuer's initial public offering on May 23, 2025, as reported in the Issuer's final prospectus filed with the Securities and Exchange Commission on May 23, 2025 pursuant to Rule 424(b)(4) of the Securities Act of 1933 (the "424B4 Prospectus"). The Class B Common Stock will be convertible into shares of Class A Common Stock on a one-to-one basis at any time at the option of the holder upon written notice to the Issuer. In addition, the Class B Common Stock will automatically convert into shares of Class A Common Stock immediately prior to the close of business on the earliest to occur of certain events specified in the Issuer's Amended and Restated Certificate of Incorporation. Each share of Class A Common Stock is entitled to one vote and each share of Class B Common Stock is entitled to fifteen votes. There were 53,266,406 shares of Class B Common Stock outstanding as of May 23, 2025, as reported in the 424B4 Prospectus. The percentage reported does not reflect the fifteen for one voting power of the Class B Common Stock because these shares are treated as converted into Class A Common Stock for the purpose of this report.

SCHEDULE 13G

CUSIP No. 433313103

1

Names of Reporting Persons

Atomico IV, L.P.

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

CAYMAN ISLANDS

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 6,713,063.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 6,713,063.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

6,713,063.00

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)

8.3 %

12

Type of Reporting Person (See Instructions)

PN

Comment for Type of Reporting Person: See comments on the cover page by Atomic Advisors IV, Ltd.

SCHEDULE 13G

CUSIP No. 433313103

1

Names of Reporting Persons

Atomico IV (Guernsey), L.P.

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

GUERNSEY

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 6,713,063.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 6,713,063.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

6,713,063.00

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)

8.3 %

12

Type of Reporting Person (See Instructions)

PN

Comment for Type of Reporting Person: See comments on the cover page by Atomic Advisors IV, Ltd.

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Hinge Health, Inc.
(b)	Address of issuer's principal executive offices: 455 Market Street, Suite 700, San Francisco, California 94105
Item 2.
(a)	Name of person filing: This Statement on Schedule 13G has been filed on behalf of the following persons (each, a "Reporting Person" and collectively, the "Reporting Persons"): 1. Atomico Advisors IV, Ltd. 2. Atomico IV, L.P. 3. Atomico IV (Guernsey), L.P.
(b)	Address or principal business office or, if none, residence: The address for each of Atomico Advisors IV, Ltd. and Atomico IV, L.P. is One Capital Place, Grand Cayman, Cayman Islands KY1-1103. The address for Atomico IV (Guernsey), L.P. is P.O. Box 286, Floor 2 Trafalgar Court, Les Banques, St. Peter Port, Guernsey GY1 4LY.
(c)	Citizenship: See Row 4 of cover page for each Reporting Person.
(d)	Title of class of securities: Class A Common Stock, par value $0.00001 per share
(e)	CUSIP No.: 433313103
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: See Row 9 of cover page for each Reporting Person.
(b)	Percent of class: See Row 11 of cover page for each Reporting Person.
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: See Row 5 of cover page for each Reporting Person.
	(ii) Shared power to vote or to direct the vote: See Row 6 of cover page for each Reporting Person.
	(iii) Sole power to dispose or to direct the disposition of: See Row 7 of cover page for each Reporting Person.
	(iv) Shared power to dispose or to direct the disposition of: See Row 8 of cover page for each Reporting Person.
Item 5.	Ownership of 5 Percent or Less of a Class.
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
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:
	Not Applicable

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.

Atomico Advisors IV, Ltd.

Signature:	By: /s/ Nicole Ramroop
Name/Title:	Nicole Ramroop/Director
Date:	07/30/2025

Atomico IV, L.P.

Signature:	By: /s/ Nicole Ramroop
Name/Title:	Nicole Ramroop/Director of Atomico Advisors IV, Ltd., its general partner
Date:	07/30/2025

Atomico IV (Guernsey), L.P.

Signature:	By: /s/ Nicole Ramroop
Name/Title:	Nicole Ramroop/Director of Atomico Advisors IV, Ltd., its general partner
Date:	07/30/2025

Exhibit Information

Exhibit 99.1 - Joint Filing Agreement

FAQ

How many HNGE shares does Atomico own according to the Schedule 13G?

Atomico beneficially owns 6,713,063 Class B shares, convertible into an equal number of Class A shares.

What percentage of Hinge Health does Atomico’s stake represent?

The filing reports an 8.3 % economic ownership based on shares outstanding immediately after the IPO.

Do Atomico’s Class B shares carry additional voting power?

Yes. Each Class B share has 15 votes versus one vote for Class A, giving Atomico outsized voting influence.

Is the investment deemed passive or activist?

The Schedule 13G is filed under Rule 13d-1, indicating a passive investment intent with no activist plans disclosed.

When did the event triggering this filing occur?

The report references the date of event as 23 May 2025, coinciding with Hinge Health’s IPO.