Explore/Bezos Disclose 5.4% Stake in Lyell (1,040,964 Shares)

Lyell Immunopharma, Inc. Schedule 13G reports that Explore Investments LLC and Jeffrey P. Bezos each may be deemed to beneficially own 1,040,964 shares of Lyell common stock, representing 5.4% of the outstanding class as of the Event Date.

Rhea-AI Filing Summary

Lyell Immunopharma, Inc. Schedule 13G reports that Explore Investments LLC and Jeffrey P. Bezos each may be deemed to beneficially own 1,040,964 shares of Lyell common stock, representing 5.4% of the outstanding class as of the Event Date. Explore is the direct holder and Mr. Bezos is the sole member of Explore. Of the shares reported, 938,438 were acquired in the initial closing of a private placement on the Event Date. The filing notes the calculation basis of 14,808,006 total shares outstanding and disclaims beneficial ownership beyond the shares reported.

Positive

• Disclosure of 1,040,964 shares (5.4%) provides clear transparency on a significant holder
• Identifies source of holdings including 938,438 shares acquired in the PIPE initial closing
• Filing follows Schedule 13G format and includes calculation basis of 14,808,006 shares outstanding

Negative

• None.

Insights

Financial Analyst

TL;DR: A single investor vehicle and its sole member report a 5.4% stake after a PIPE purchase, a potentially material passive stake.

The filing documents a passive stake of 1,040,964 shares equal to 5.4% of Lyell's common stock, calculated on 14,808,006 shares outstanding after recent issuances. The position includes 938,438 shares acquired in the PIPE initial closing. The Schedule 13G certification indicates the shares were not acquired to influence control, consistent with passive reporting. This disclosure is important for shareholder ownership concentration and may affect liquidity and block trade dynamics but contains no operational or financial performance data.

Corporate Governance Expert

TL;DR: Disclosure shows a disclosed passive investor exceeding 5% threshold, triggering required public reporting without claiming control.

The statement clarifies Explore Investments LLC as the direct holder and Jeffrey P. Bezos as the sole member, which explains joint reporting. The filing expressly disclaims any intent to influence control and follows Form 13G standards for passive investors. It references related PIPE documentation and rights but does not assert control or group arrangements. This transparency satisfies SEC ownership disclosure norms and informs other stakeholders of a significant passive holder.

FAQ

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

How many Lyell (LYEL) shares do Explore Investments LLC and Jeffrey P. Bezos report owning?

They each may be deemed to beneficially own 1,040,964 shares, representing 5.4% of the outstanding common stock as reported.

What portion of the reported stake was acquired in the PIPE transaction?

938,438 shares of the reported holdings were acquired in connection with the initial closing of the PIPE transaction on the Event Date.

What share count did the filing use to calculate the 5.4% ownership?

The percentage is based on an aggregate total of 14,808,006 shares outstanding as of May 30, 2025, as stated in the Prospectus and after specified issuances.

Does the Schedule 13G indicate the holders intend to influence control of Lyell?

No. The certification states the securities were not acquired to change or influence control and the filing is submitted under Schedule 13G standards for passive investors.

Who is the direct holder of the reported shares and what is Jeffrey P. Bezos's relation?

Explore Investments LLC is the direct holder and Jeffrey P. Bezos is identified as the sole member of Explore, so he may be deemed to beneficially own the shares.

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

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Accepted by SEC EDGAR 08/19/2025 - 04:10 PM EDT Learn about SEC filing dates

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

Lyell Immunopharma, Inc.

(Name of Issuer)

Common Stock, par value $0.0001 per share

(Title of Class of Securities)

55083R104

(CUSIP Number)

07/25/2025

(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. 55083R104

1

Names of Reporting Persons

Explore Investments LLC

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 1,040,964.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 1,040,964.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

1,040,964.00

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)

5.4 %

12

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person: The percentage reported in Row 11 is calculated in accordance with Rule 13(d)-3(d)(1)(i) promulgated under the Securities Exchange Act of 1934 (as amended, the "Exchange Act") and based on an aggregate total of 14,808,006 shares of the common stock of Lyell Pharmaceuticals, Inc. (the "Issuer") outstanding as of May 30, 2025, as reported by the Issuer in its preliminary prospectus (the "Prospectus") (File No. 333-288769) dated July 18, 2025, incorporated in the Issuer's Form S-3 registration statement filed with the Securities and Exchange Commission (the "SEC") on July 18, 2025, and after giving effect to the issuance of: (i) an additional 625,000 shares (the "ImmPACT Shares") of common stock on July 2, 2025 as reported in the Prospectus and (ii) an additional 3,753,752 shares (the "PIPE Shares") of common stock on July 25, 2025 upon completion of the Issuer's private placement transaction as reported by the Issuer in its Current Report filed with the SEC on Form 8-K (File No. 001-40502) on July 25, 2025.

SCHEDULE 13G

CUSIP No. 55083R104

1

Names of Reporting Persons

Jeffrey P. Bezos

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 1,040,964.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 1,040,964.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

1,040,964.00

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)

5.4 %

12

Type of Reporting Person (See Instructions)

IN

Comment for Type of Reporting Person: For purposes of Rule 13d-3 under the Exchange Act, all shares of the Issuer's common stock held by Explore may be deemed to be beneficially owned by Jeffrey P. Bezos as the sole member of Explore. The percentage reported in Row 11 is calculated in accordance with Rule 13(d)-3(d)(1)(i) promulgated under the Exchange Act, and based on an aggregate total of 14,808,006 shares of the common stock of the Issuer outstanding as of May 30, 2025, as reported in the Prospectus, and after giving effect to the issuance of: (i) the ImmPACT Shares on July 2, 2025 as reported in the Prospectus and (ii) the PIPE Shares on July 25, 2025, as reported by the Issuer in its Current Report filed with the SEC on Form 8-K (File No. 001-40502) on July 25, 2025.

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Lyell Immunopharma, Inc.
(b)	Address of issuer's principal executive offices: 201 Haskins Way, South San Francisco, CA, 94080.
Item 2.
(a)	Name of person filing: Explore Investments LLC, a Delaware limited liability company ("Explore") Jeffrey P. Bezos, an Individual ("Mr. Bezos" and together with Explore, the "Reporting Persons")
(b)	Address or principal business office or, if none, residence: The address of the principal business office of each of the Reporting Persons is: P.O. Box 6470 Surfside, FL 33154
(c)	Citizenship: Explore is formed in the State of Delaware. Mr. Bezos is a citizen of the United States of America.
(d)	Title of class of securities: Common Stock, par value $0.0001 per share
(e)	CUSIP No.: 55083R104
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: Reference to "beneficial ownership" of securities for purposes of this initial statement on Schedule 13G (this "Statement") shall be understood to refer to beneficial ownership as that term is defined in Rule 13d-3 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). As of July 25, 2025 (the "Event Date"), the Reporting Persons may each be deemed to directly or indirectly beneficially own an aggregate 1,040,964 shares of the Issuer's common stock. Explore is the direct holder of all the shares identified in the preceding paragraph. For purposes of Rule 13d-3 under the Exchange Act, all of the aforementioned securities of the Issuer directly held by Explore may be deemed to be beneficially owned by Mr. Bezos as the sole member of Explore. Notwithstanding, the filing of this Statement shall not be construed as an admission by Mr. Bezos, for purposes of Sections 13(d) or 13(g) of the Exchange Act or otherwise, as to beneficial ownership of the securities reported herein. Of the shares described in the preceding paragraph, 938,438 (the "PIPE Shares") were acquired in connection with the initial closing of a private placement transaction (the "PIPE Transaction") completed on the Event Date, pursuant to a Securities Purchase Agreement (the "Purchase Agreement") entered into by and among the Issuer, Explore, and certain other institutional and accredited investors (collectively, the "Purchasers") on July 24, 2025. For the avoidance of doubt, the number of securities reported in this Statement as beneficially owned by the Reporting Persons does not include any securities which may be issued at a future date pursuant to the Investor Call Right or Milestone Closing Put Right (each as defined in the Purchase Agreement), or any other provision of the Purchase Agreement. The foregoing description of the PIPE Transaction, the Investor Call Right, the Milestone Put Right, and the Purchase Agreement are not complete and are qualified in their entirety by reference to the full text of the: (i) Issuer's Current Report filed by the Issuer on Form 8-K (the "Form 8-K") with the U.S. Securities and Exchange Commission (the "SEC") on July 25, 2025 (File No. 001-40502) and (ii) Purchase Agreement, which was filed by the Issuer with the SEC as Exhibit 10.1 to the Form 8-K.
(b)	Percent of class: As of the Event Date, the Reporting Persons were each deemed to directly or indirectly beneficially own an aggregate 5.4% of the Issuer's outstanding common stock. The aforementioned percentage was calculated in accordance with Rule 13(d)-3(d)(1)(i) promulgated under the Exchange Act and based on an aggregate total of 14,808,006 shares of the Issuer's common stock outstanding as of May 30, 2025, as reported by the Issuer in its preliminary prospectus (the "Prospectus") (File No. 333-288769) dated July 18, 2025, incorporated in the Issuer's Form S-3 registration statement filed with the SEC on July 18, 2025, and after giving effect to the issuance of: (i) an additional 625,000 shares of common stock on July 2, 2025 as reported in the Prospectus and (ii) an additional 3,753,752 shares of common stock on July 25, 2025 upon completion of the PIPE Transaction as reported by the Issuer on the Form 8-K.
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: Explore 0 Mr. Bezos 0
	(ii) Shared power to vote or to direct the vote: Explore 1,040,964 Mr. Bezos 1,040,964
	(iii) Sole power to dispose or to direct the disposition of: Explore 0 Mr. Bezos 0
	(iv) Shared power to dispose or to direct the disposition of: Explore 1,040,964 Mr. Bezos 1,040,964
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:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above 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.

Explore Investments LLC

Signature:	/s/ Paul Dauber
Name/Title:	Paul Dauber/its Manager
Date:	08/19/2025

Jeffrey P. Bezos

Signature:	/s/ Jeffrey P. Bezos
Name/Title:	Jeffrey P. Bezos/an Individual
Date:	08/19/2025