5AM converts 7.3M Latigo preferred into common
Latigo Biotherapeutics, Inc. (LTGO) reports that funds affiliated with 5AM converted preferred shares into common stock in connection with Latigo’s initial public offering.
Rhea-AI Filing Summary
Latigo Biotherapeutics, Inc. (LTGO) reports that funds affiliated with 5AM converted preferred shares into common stock in connection with Latigo’s initial public offering. On August 10, 2026, 5AM Ventures VI, L.P. and 5AM Opportunities II, L.P. converted their Series A, Series A-2 and Series B Preferred Stock into an aggregate of common shares on a one-for-one basis for no additional consideration, leaving the preferred positions at zero. Following these automatic conversions immediately prior to the IPO closing, 5AM Ventures VI, L.P. holds 4,975,543 common shares indirectly and 5AM Opportunities II, L.P. holds 2,350,419 common shares indirectly. Control and beneficial ownership are described through 5AM’s general partner entities, with Dr. Kush Parmar and Andrew J. Schwab disclaiming beneficial ownership except to the extent of their pecuniary interests.
Positive
- None.
Negative
- None.
Insider Trade Summary
7,325,962 shares exercised/converted
Exercise
6 txns
Insider
5AM Ventures VI, L.P., 5AM Partners VI, LLC, 5AM Opportunities II, L.P., 5AM Opportunities II (GP), LLC, PARMAR KUSH, Schwab Andrew J.
Role
10% Owner | 10% Owner | 10% Owner | 10% Owner | 10% Owner | 10% Owner
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Conversion | Series A Preferred Stock F1, F2 | 3,152,305 | $0.00 | $0.00 |
| Conversion | Series A-2 Preferred Stock F1, F2 | 1,823,238 | $0.00 | $0.00 |
| Conversion | Series A-2 Preferred Stock F1, F3 | 866,018 | $0.00 | $0.00 |
| Conversion | Series B Preferred Stock F1, F3 | 1,484,401 | $0.00 | $0.00 |
| Conversion | Common Stock F1, F2 | 4,975,543 | -- | -- |
| Conversion | Common Stock F1, F3 | 2,350,419 | -- | -- |
Holdings After Transaction:
Series A Preferred Stock — 0 contracts (Indirect, By 5AM Ventures VI, L.P.);
Series A-2 Preferred Stock — 0 contracts (Indirect, By 5AM Ventures VI, L.P.);
Series A-2 Preferred Stock — 0 contracts (Indirect, By 5AM Opportunities II, L.P.);
Series B Preferred Stock — 0 contracts (Indirect, By 5AM Opportunities II, L.P.);
Common Stock — 4,975,543 shares (Indirect, By 5AM Ventures VI, L.P.);
Common Stock — 2,350,419 shares (Indirect, By 5AM Opportunities II, L.P.)
Footnotes (3)
- F1. Each share of Series A Preferred Stock, Series A-2 Preferred Stock and Series B Preferred Stock automatically converted into Common Stock immediately prior to the closing of the Issuer's initial public offering for no additional consideration, on a one-for-one basis. The Series A Preferred Stock, Series A-2 Preferred Stock and Series B Preferred Stock had no expiration date.
- F2. The securities are directly held by 5AM Ventures VI, L.P. ("Ventures VI"). 5AM Partners VI, LLC ("Partners VI") is the sole general partner of Ventures VI. Dr. Kush Parmar and Andrew J. Schwab are the managing members of Partners VI and may be deemed to have shared voting and investment power over the securities beneficially owned by Ventures VI. Each of Partners VI, Dr. Parmar, and Mr. Schwab disclaims beneficial ownership of such securities except to the extent of its or his respective pecuniary interest therein.
- F3. The securities are directly held by 5AM Opportunities II, L.P. ("Opportunities II"). 5AM Opportunities II (GP), LLC ("Opportunities II GP") is the general partner of Opportunities II and may be deemed to have sole investment and voting power over the securities held by Opportunities II. Dr. Kush Parmar and Andrew J. Schwab are the managing members of Opportunities II GP and may be deemed to have shared voting and investment power over the securities beneficially owned by Opportunities II. Each of Opportunities II GP, Dr. Parmar, and Mr. Schwab disclaims beneficial ownership of such securities except to the extent of its or his respective pecuniary interest therein.
Key Figures
Series A Preferred converted: 3,152,305 shares
Series A-2 Preferred converted (Ventures VI): 1,823,238 shares
Series A-2 Preferred converted (Opportunities II): 866,018 shares
+4 more
7 metrics
Series A Preferred converted
3,152,305 shares
Automatically converted into Common Stock on a one-for-one basis before IPO closing
Series A-2 Preferred converted (Ventures VI)
1,823,238 shares
Automatically converted into Common Stock on a one-for-one basis before IPO closing
Series A-2 Preferred converted (Opportunities II)
866,018 shares
Automatically converted into Common Stock on a one-for-one basis before IPO closing
Series B Preferred converted (Opportunities II)
1,484,401 shares
Automatically converted into Common Stock on a one-for-one basis before IPO closing
Common Stock held by 5AM Ventures VI, L.P.
4,975,543 shares
Indirect ownership following preferred-to-common conversion on August 10, 2026
Common Stock held by 5AM Opportunities II, L.P.
2,350,419 shares
Indirect ownership following preferred-to-common conversion on August 10, 2026
Total derivative shares converted
7,325,962 shares
Aggregate derivative exercises (Series A, A-2, B Preferred) reported in transaction summary
Key Terms
initial public offering, beneficial ownership, pecuniary interest, voting and investment power
4 terms
initial public offering financial
"converted into Common Stock immediately prior to the closing of the Issuer's initial public offering"
An initial public offering (IPO) is when a private company first sells its shares to the public and becomes a stock-listed company. It matters because it allows the company to raise money from a wide range of investors, helping it grow, while giving early shareholders a way to sell some of their ownership.
beneficial ownership financial
"disclaims beneficial ownership of such securities except to the extent of its or his"
Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.
pecuniary interest financial
"disclaims beneficial ownership of such securities except to the extent of its or his respective pecuniary interest"
voting and investment power financial
"may be deemed to have shared voting and investment power over the securities beneficially owned"
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider transactions did LTGO report involving 5AM funds on August 10, 2026?
Latigo Biotherapeutics (LTGO) reported that 5AM funds converted 7,325,962 preferred shares into common stock on August 10, 2026. These were automatic, one-for-one conversions tied to Latigo’s initial public offering, with no additional consideration paid.
What happened to LTGO’s preferred stock held by 5AM at the IPO?
Each share of LTGO’s Series A, Series A-2 and Series B Preferred Stock held by 5AM funds automatically converted one-for-one into common stock immediately before the IPO closing. These preferred shares had no expiration date and converted for no additional consideration.
AI-generated analysis. How Rhea-AI works. Not financial advice.
