Iambic Therapeutics: Ascenta buys 718,750 shares

The convertible notes converted at 85% of the $16.00 IPO price, while preferred shares converted one-for-one.

Rhea-AI Filing Summary

Iambic Therapeutics, Inc. director Evan Lockwood Rachlin reported transactions on October 16, 2026 involving shares held by Ascenta Capital Fund I and Ascenta Capital Project Turing SPV. Ascenta Capital Fund I purchased 718,750 common shares at $16.00 per share and acquired 1,458,736 common shares through preferred-stock conversions and 410,762 through conversion of convertible promissory notes. Ascenta Capital Project Turing SPV acquired 57,754 common shares through a preferred-stock conversion. Series B and Series B-3 preferred shares converted one-for-one immediately before completion of the IPO; the notes converted at 85% of the $16.00 IPO price, reflecting a 15% discount. Rachlin shares voting and dispositive power over the entities’ shares and disclaims beneficial ownership for Section 16 purposes except to the extent of any pecuniary interest. No Rule 10b5-1 plan is reported.

Insider Trade Summary

Net Buyer: 718,750 shares

Net Buy 8 txns

Insider Rachlin Evan Lockwood

Role Director

Bought 718,750 shs ($11.50M)

Type	Security	Shares	Price	Value
Conversion	Series B Convertible Preferred Stock F1, F3	1,152,025	$0.00	$0.00
Conversion	Series B Convertible Preferred Stock F1, F5	57,754	$0.00	$0.00
Conversion	Series B-3 Convertible Preferred Stock F2, F3	306,711	$0.00	$0.00
Conversion	Convertible Promissory Notes F4, F3	410,762	$0.00	$0.00
Conversion	Common Stock F1, F2, F3	1,458,736	--	--
Conversion	Common Stock F4, F3	410,762	--	--
Purchase	Common Stock F3	718,750	$16.00	$11.50M
Conversion	Common Stock F1, F5	57,754	--	--

Holdings After Transaction: Series B Convertible Preferred Stock — 0 contracts (Indirect, See footnote); Series B-3 Convertible Preferred Stock — 0 contracts (Indirect, See footnote); Convertible Promissory Notes — 0 contracts (Indirect, See footnote); Common Stock — 57,754 shares (Indirect, See footnote)

Footnotes (5)

1. F1. Each share of Series B Convertible Preferred Stock automatically converted into Common Stock on a one-to-one basis immediately prior to the completion of the Issuer's initial public offering of Common Stock and had no expiration date.
2. F2. Each share of Series B-3 Convertible Preferred Stock automatically converted into Common Stock on a one-to-one basis immediately prior to the completion of the Issuer's initial public offering of Common Stock and had no expiration date.
3. F3. The shares are held of record by Ascenta Capital Fund I, L.P., or Ascenta Capital Fund I. As a Managing Member of Ascenta Capital Fund I, G.P., L.L.C., the General Partner of Ascenta Capital Fund I, the reporting person shares voting and dispositive power with respect to the shares held of record by Ascenta Capital Fund I. The reporting person disclaims beneficial ownership of the securities reported herein for purposes of Section 16 of the Exchange Act, except to the extent of his pecuniary interest therein, if any.
4. F4. The conversion price was equal to 85% of the Issuer's initial public offering price of $16.00 per share (reflecting a 15% discount).
5. F5. The shares are held of record by Ascenta Capital Project Turing SPV, L.P., or Ascenta Capital Project Turing. As a Managing Member of Ascenta Capital Fund I, G.P., L.L.C., the General Partner of Ascenta Capital Project Turing, the reporting person shares voting and dispositive power with respect to the shares held of record by Ascenta Capital Project Turing. The reporting person disclaims beneficial ownership of the securities reported herein for purposes of Section 16 of the Exchange Act, except to the extent of his pecuniary interest therein, if any.

Key Figures

Common shares purchased: 718,750 shares Purchase price: $16.00 per share Common shares from preferred-stock conversions: 1,458,736 shares +4 more

7 metrics

Common shares purchased 718,750 shares Ascenta Capital Fund I, October 16, 2026

Purchase price $16.00 per share Ascenta Capital Fund I common-stock purchase, October 16, 2026

Common shares from preferred-stock conversions 1,458,736 shares Ascenta Capital Fund I

Common shares from promissory-note conversion 410,762 shares Ascenta Capital Fund I

Common shares from preferred-stock conversion 57,754 shares Ascenta Capital Project Turing SPV

Preferred-stock conversion ratio One-to-one Series B and Series B-3 preferred stock

Convertible-note conversion price 85% of the $16.00 IPO price per share Reflecting a 15% discount

Key Terms

one-to-one basis, dispositive power, pecuniary interest

3 terms

one-to-one basis financial

"converted into Common Stock on a one-to-one basis"

dispositive power regulatory

"shares voting and dispositive power with respect to the shares"

Dispositive power is the authority to decide the final outcome of an asset, legal claim, contract, or corporate action — in effect the power to dispose of or resolve something. For investors it matters because whoever holds that authority can determine who gets paid, who controls an asset or vote, and how risks and returns are allocated; think of it like holding the key that lets you lock in the winner or loser in a deal.

pecuniary interest regulatory

"except to the extent of his pecuniary interest therein, if any"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How many IAM shares did Ascenta Capital Fund I purchase?

Ascenta Capital Fund I purchased 718,750 common shares at $16.00 per share on October 16, 2026.

How many IAM common shares came from the conversions?

Ascenta Capital Fund I acquired 1,458,736 common shares through Series B and Series B-3 preferred-stock conversions and 410,762 through conversion of convertible promissory notes. Ascenta Capital Project Turing SPV acquired 57,754 common shares through a Series B preferred-stock conversion.

What was the IAM preferred-stock conversion ratio?

Each share of Series B and Series B-3 Convertible Preferred Stock automatically converted into Common Stock on a one-to-one basis immediately before completion of Iambic Therapeutics’ initial public offering.

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

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Available on EDGAR 10/19/2026 - 07:47 PM EDT Accepted by SEC EDGAR 10/19/2026 - 07:47 PM EDT Learn about SEC filing dates

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Rachlin Evan Lockwood

(Last) (First) (Middle)

C/O IAMBIC THERAPEUTICS, INC.

5627 OBERLIN DRIVE, SUITE 120

(Street)

SAN DIEGO CALIFORNIA 92121

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Iambic Therapeutics, Inc. [ IAM ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
10/16/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	10/16/2026		C		1,458,736	A	(1)(2)	1,458,736	I	See footnote(3)
Common Stock	10/16/2026		C		410,762	A	(4)	1,869,498	I	See footnote(3)
Common Stock	10/16/2026		P		718,750	A	$16	2,588,248	I	See footnote(3)
Common Stock	10/16/2026		C		57,754	A	(1)	57,754	I	See footnote(5)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Series B Convertible Preferred Stock	(1)	10/16/2026		C			1,152,025	(1)	(1)	Common Stock	1,152,025	$0	0	I	See footnote(3)
Series B Convertible Preferred Stock	(1)	10/16/2026		C			57,754	(1)	(1)	Common Stock	57,754	$0	0	I	See footnote(5)
Series B-3 Convertible Preferred Stock	(2)	10/16/2026		C			306,711	(2)	(2)	Common Stock	306,711	$0	0	I	See footnote(3)
Convertible Promissory Notes	(4)	10/16/2026		C			410,762	10/16/2026	08/14/2028	Common Stock	410,762	$0	0	I	See footnote(3)

Explanation of Responses:

1. Each share of Series B Convertible Preferred Stock automatically converted into Common Stock on a one-to-one basis immediately prior to the completion of the Issuer's initial public offering of Common Stock and had no expiration date.

2. Each share of Series B-3 Convertible Preferred Stock automatically converted into Common Stock on a one-to-one basis immediately prior to the completion of the Issuer's initial public offering of Common Stock and had no expiration date.

3. The shares are held of record by Ascenta Capital Fund I, L.P., or Ascenta Capital Fund I. As a Managing Member of Ascenta Capital Fund I, G.P., L.L.C., the General Partner of Ascenta Capital Fund I, the reporting person shares voting and dispositive power with respect to the shares held of record by Ascenta Capital Fund I. The reporting person disclaims beneficial ownership of the securities reported herein for purposes of Section 16 of the Exchange Act, except to the extent of his pecuniary interest therein, if any.

4. The conversion price was equal to 85% of the Issuer's initial public offering price of $16.00 per share (reflecting a 15% discount).

5. The shares are held of record by Ascenta Capital Project Turing SPV, L.P., or Ascenta Capital Project Turing. As a Managing Member of Ascenta Capital Fund I, G.P., L.L.C., the General Partner of Ascenta Capital Project Turing, the reporting person shares voting and dispositive power with respect to the shares held of record by Ascenta Capital Project Turing. The reporting person disclaims beneficial ownership of the securities reported herein for purposes of Section 16 of the Exchange Act, except to the extent of his pecuniary interest therein, if any.

	/s/ Sunny Chang, by power of attorney	10/19/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)