MEIP activist group cuts stake to 3.7 %, ends board pact – 13D/A

Amendment No. 9 to Schedule 13D – MEIP (filed 24-Jul-25) The Cable Car/Anson activist coalition discloses that MEI Pharma’s 17-Jul-25 private placement diluted its combined stake below the 5 % reporting threshold.

Rhea-AI Filing Summary

Amendment No. 9 to Schedule 13D – MEIP (filed 24-Jul-25)

The Cable Car/Anson activist coalition discloses that MEI Pharma’s 17-Jul-25 private placement diluted its combined stake below the 5 % reporting threshold. The group now owns 1,093,188 shares, or 3.7 % of the 29,879,755 shares outstanding, and therefore ceases to act as a Section 13(d) group. Individual holdings: Funicular Funds/Cable Car/J. Ma-Weaver 35,300 sh (0.1 %); Anson Investments Master 841,674 sh (2.8 %); Anson East Master 214,304 sh (0.7 %); Anson Opportunities Master 37,210 sh (0.1 %).

Because the “Minimum Ownership Amount” in the 2023 Cooperation Agreement was no longer satisfied, Anson-appointed director Taheer Datoo resigned effective 22-Jul-25. On the same date all parties executed mutual terminations of both the Cooperation Agreement and the Group Agreement. Each fund acquired its position for cash (≈ US $12.9 m aggregate) without margin financing and now disclaims beneficial ownership of shares it does not directly hold.

Implication: activist governance pressure and mandatory 13D amendments end, reducing the likelihood of further board or strategic agitation from these investors.

Positive

• Governance clarity: Termination of activist agreements removes uncertainty around future proxy contests.
• Issuer cash infusion: Private placement closed 22-Jul-25, providing new capital (exact amount not disclosed here).

Negative

• Activist catalyst removed: Combined stake drops to 3.7 %, ending board representation and reducing strategic pressure.
• Dilution: Private placement increased outstanding shares to 29.88 m, diluting existing holders.
• Lower transparency: Falling below 5 % means fewer mandatory disclosures going forward.

Insights

Activist-Investing Analyst

TL;DR – Activist group exits: stake now 3.7 %, board seat lost, pressure on MEIP subsides.

The Cable Car/Anson bloc has effectively stepped off the field. Falling under 5 % eliminates costly 13D compliance and strips the investors of rights embedded in the 2023 Cooperation Agreement—including their board designee. For shareholders who viewed the group as a catalyst for strategic alternatives or M&A, this is a setback. The modest residual stake (≈US $1.1 m at $1 share price) is unlikely to finance another campaign. The private placement both diluted their ownership and injected new capital into MEIP, shifting bargaining power back to management.

Corporate Governance Specialist

TL;DR – Governance normalises; activist oversight removed; impact depends on faith in current board.

The mutual termination of the Cooperation and Group Agreements restores a standard governance structure. Investors lose an independent monitor but also avoid potential distraction from prolonged proxy activity. Whether this is neutral or negative hinges on confidence in MEIP’s strategic plan; the filing itself carries no direct financial impact but signals diminished external accountability.

FAQ

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

Why did Cable Car and Anson Funds file Amendment No. 9 for MEIP?

Their collective ownership fell below 5 % after MEIP’s 22-Jul-25 private placement, requiring an update and ending their Schedule 13D group status.

How much of MEI Pharma (MEIP) do the reporting persons now own?

They report 1,093,188 shares, or 3.7 % of the 29,879,755 shares outstanding as of 22-Jul-25.

Does the activist group still have a board seat at MEIP?

No. Director Taheer Datoo resigned on 22-Jul-25 because the group no longer meets the minimum ownership required for board representation.

What agreements were terminated on 22-Jul-25?

Both the Cooperation Agreement with MEIP and the internal Group Agreement among the investors were mutually terminated.

Will future 13D filings be required from these investors?

Not unless any of them again exceed the 5 % threshold; each filer now disclaims group status and owns below that level.

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

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Accepted by SEC EDGAR 07/24/2025 - 03:53 PM Learn about SEC filing dates

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 9)

MEI Pharma, Inc.

(Name of Issuer)

Common Stock, $0.00000002 par value

(Title of Class of Securities)

55279B202

(CUSIP Number)

JACOB MA-WEAVER
CABLE CAR CAPITAL, LP, 601 California Street, Suite 1151
San Francisco, CA, 94108
415-857-1965

TONY MOORE
ANSON FUNDS MANAGEMENT LP, 16000 Dallas Parkway, Suite 800
Dallas, TX, 75248
214-866-0202

ANDREW FREEDMAN, ESQ.
OLSHAN FROME WOLOSKY LLP, 1325 Avenue of the Americas
New York, NY, 10019
212-451-2300

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

07/22/2025

(Date of Event Which Requires Filing of This Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.

The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

SCHEDULE 13D

CUSIP No. 55279B202

1

Name of reporting person

Funicular Funds, LP

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

WC

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 35,300.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 35,300.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

35,300.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

0.1 %

14

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13D

CUSIP No. 55279B202

1

Name of reporting person

Cable Car Capital, LP

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

AF

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 35,300.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 35,300.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

35,300.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

0.1 %

14

Type of Reporting Person (See Instructions)

IA, PN

Comment for Type of Reporting Person:

Formerly known as Cable Car Capital LLC

SCHEDULE 13D

CUSIP No. 55279B202

1

Name of reporting person

Ma-Weaver Jacob

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 35,300.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 35,300.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

35,300.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

0.1 %

14

Type of Reporting Person (See Instructions)

IN

SCHEDULE 13D

CUSIP No. 55279B202

1

Name of reporting person

Anson Investments Master Fund LP

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

AF

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

CAYMAN ISLANDS

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 841,674.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 841,674.00

11

Aggregate amount beneficially owned by each reporting person

841,674.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

2.8 %

14

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13D

CUSIP No. 55279B202

1

Name of reporting person

AIMF GP LLC

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

AF

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

TEXAS

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 841,674.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 841,674.00

11

Aggregate amount beneficially owned by each reporting person

841,674.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

2.8 %

14

Type of Reporting Person (See Instructions)

HC, OO

SCHEDULE 13D

CUSIP No. 55279B202

1

Name of reporting person

Anson East Master Fund LP

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

AF

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

CAYMAN ISLANDS

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 214,304.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 214,304.00

11

Aggregate amount beneficially owned by each reporting person

214,304.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

0.7 %

14

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13D

CUSIP No. 55279B202

1

Name of reporting person

AEMF GP LLC

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

AF

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

TEXAS

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 214,304.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 214,304.00

11

Aggregate amount beneficially owned by each reporting person

214,304.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

0.7 %

14

Type of Reporting Person (See Instructions)

HC, OO

SCHEDULE 13D

CUSIP No. 55279B202

1

Name of reporting person

Anson Opportunities Master Fund LP

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

AF

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

CAYMAN ISLANDS

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 37,210.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 37,210.00

11

Aggregate amount beneficially owned by each reporting person

37,210.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

0.1 %

14

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13D

CUSIP No. 55279B202

1

Name of reporting person

AOMF GP, LLC

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

AF

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

TEXAS

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 37,210.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 37,210.00

11

Aggregate amount beneficially owned by each reporting person

37,210.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

0.1 %

14

Type of Reporting Person (See Instructions)

HC, OO

SCHEDULE 13D

CUSIP No. 55279B202

1

Name of reporting person

Anson Funds Management LP

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

AF

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

TEXAS

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 1,093,188.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 1,093,188.00

11

Aggregate amount beneficially owned by each reporting person

1,093,188.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

3.7 %

14

Type of Reporting Person (See Instructions)

IA, PN

SCHEDULE 13D

CUSIP No. 55279B202

1

Name of reporting person

Anson Management GP LLC

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

AF

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

TEXAS

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 1,093,188.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 1,093,188.00

11

Aggregate amount beneficially owned by each reporting person

1,093,188.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

3.7 %

14

Type of Reporting Person (See Instructions)

HC, OO

SCHEDULE 13D

CUSIP No. 55279B202

1

Name of reporting person

Tony Moore

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

AF

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 1,093,188.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 1,093,188.00

11

Aggregate amount beneficially owned by each reporting person

1,093,188.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

3.7 %

14

Type of Reporting Person (See Instructions)

IN, HC

SCHEDULE 13D

CUSIP No. 55279B202

1

Name of reporting person

Anson Advisors Inc.

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

WC

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

ONTARIO, CANADA

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 1,093,188.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 1,093,188.00

11

Aggregate amount beneficially owned by each reporting person

1,093,188.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

3.7 %

14

Type of Reporting Person (See Instructions)

CO

SCHEDULE 13D

CUSIP No. 55279B202

1

Name of reporting person

Amin Nathoo

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

AF

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

CANADA (FEDERAL LEVEL)

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 1,093,188.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 1,093,188.00

11

Aggregate amount beneficially owned by each reporting person

1,093,188.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

3.7 %

14

Type of Reporting Person (See Instructions)

IN, HC

SCHEDULE 13D

CUSIP No. 55279B202

1

Name of reporting person

Moez Kassam

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

AF

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

CANADA (FEDERAL LEVEL)

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 1,093,188.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 1,093,188.00

11

Aggregate amount beneficially owned by each reporting person

1,093,188.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

3.7 %

14

Type of Reporting Person (See Instructions)

IN, HC

SCHEDULE 13D

Item 1.	Security and Issuer
(a)	Title of Class of Securities: Common Stock, $0.00000002 par value
(b)	Name of Issuer: MEI Pharma, Inc.
(c)	Address of Issuer's Principal Executive Offices: 9920 PACIFIC HEIGHTS BLVD, SUITE 150, SAN DIEGO, CALIFORNIA , 92121.
Item 1 Comment: The following constitutes Amendment No. 9 to the Schedule 13D filed by the undersigned ("Amendment No. 9") relating to the Common Stock, $0.00000002 par value per share (the "Shares"), of MEI Pharma, Inc. (the "Issuer"). This Amendment No. 9 amends the Schedule 13D filed by the Reporting Persons as specifically set forth herein. Capitalized terms used but not otherwise defined herein have the meanings ascribed to such terms in the Schedule 13D. The beneficial ownership reported herein has been rounded to the nearest whole share, as applicable.
Item 2.	Identity and Background
(a)	Item 2(a) is hereby amended to read as follows: In connection with the termination of each of the Group Agreement and the Cooperation Agreement, as further described below, the Reporting Persons are no longer members of the Schedule 13(d) group and shall cease to be Reporting Persons immediately upon the filing of this Amendment No. 9 to the Schedule 13D.
(b)	Item 2(b) is hereby amended to read as follows: Cable Car is an SEC registered investment adviser and serves as the general partner of Funicular. Tony Moore is the principal of Anson Management and the managing member of Anson GP.
Item 3.	Source and Amount of Funds or Other Consideration
	Item 3 is hereby amended and restated to read as follows: The 35,300 Shares of the Issuer purchased by Funicular were acquired for an aggregate purchase price of approximately $163,625 inclusive of brokerage commissions. Funds for the purchase were obtained from the available working capital of Funicular. Although Funicular has the ability to obtain margin loans in the ordinary course of its business, no part of the purchase price was obtained on margin or through any other borrowings. The Shares of the Issuer purchased by Anson Master were acquired for an aggregate purchase price of approximately $9,548,967 inclusive of brokerage commissions. Although Anson Master has the ability to obtain margin loans in the ordinary course of its business, no part of the purchase price was obtained on margin or through any other borrowings. The Shares of the Issuer purchased by Anson East Master were acquired for an aggregate purchase price of approximately $2,521,660 inclusive of brokerage commissions. Although Anson East Master has the ability to obtain margin loans in the ordinary course of its business, no part of the purchase price was obtained on margin or through any other borrowings. The Shares of the Issuer purchased by Anson Opportunities were acquired for an aggregate purchase price of approximately $678,363 inclusive of brokerage commissions. Although Anson Opportunities has the ability to obtain margin loans in the ordinary course of its business, no part of the purchase price was obtained on margin or through any other borrowings.
Item 4.	Purpose of Transaction
	Item 4 is hereby amended to add the following: As disclosed in the Issuer's Form 8-K filed on July 22, 2025, the Issuer entered into securities purchase agreements on July 17, 2025 with certain investors pursuant to which the Issuer agreed to sell and issue to such investors certain shares of Common Stock in a private placement offering (the "Offering") and pre-funded warrants. The Offering closed on July 22, 2025. In accordance with the terms of the Cooperation Agreement, Taheer Datoo tendered his resignation from the Issuer's Board of Directors, effective July 22, 2025, in light of the Reporting Persons' ceasing to own the Minimum Ownership Amount (as defined in the Cooperation Agreement) as a result of their positions decreasing following the Offering. Mr. Datoo's resignation was accepted by the Issuer. In addition, effective July 22, 2025, upon closing of the Offering, the Reporting Persons, the Issuer and the other parties to the Cooperation Agreement mutually agreed to terminate the Cooperation Agreement (the "Termination of Cooperation Agreement"). Accordingly, neither the Reporting Persons nor the Issuer have any further rights, duties or obligations under the Cooperation Agreement. The foregoing description of the Termination of Cooperation Agreement is qualified in its entirety by reference to the full text of the Termination of Cooperation Agreement, which is attached as Exhibit 99.1 hereto and is incorporated herein by reference.
Item 5.	Interest in Securities of the Issuer
(a)	Item 5(a) is hereby amended and restated to read as follows: The aggregate percentage of Shares reported owned by the Reporting Persons is based on 29,879,755 Shares outstanding, which is the total number of Shares outstanding as of July 22, 2025 based on information provided by the Issuer. See rows (11) and (13) of the cover pages to this Schedule 13D for the aggregate number of Shares and percentage of the Shares beneficially owned by each of the Reporting Persons as of the close of business on July 23, 2025. The filing of this Schedule 13D shall not be deemed an admission that the Reporting Persons are, for purposes of Section 13(d) of the Securities Exchange Act of 1934, as amended, the beneficial owners of any securities of the Issuer that he or it does not directly own. Each of the Reporting Persons specifically disclaims beneficial ownership of the securities reported herein that he or it does not directly own.
(b)	Item 5(b) is hereby amended and restated to read as follows: See rows (7) through (10) of the cover pages to this Schedule 13D for the number of Shares as to which each Reporting Person has the sole or shared power to vote or direct the vote and the sole or shared power to dispose or to direct the disposition of the Shares.
(c)	Item 5(c) is hereby amended and restated to read as follows: Information concerning transactions in the securities of the Issuer effected by the Reporting Persons during the past sixty days is set forth in Exhibit 1 attached hereto and is incorporated herein by reference. All of the transactions in the securities of the Issuer listed therein were effected in the open market.
(e)	Item 5(e) is hereby amended and restated to read as follows: As of July 22, 2025, the Reporting Persons ceased to beneficially own more than 5% of the outstanding Shares of the Issuer.
Item 6.	Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer
	Item 6 is hereby amended to add the following: In connection with the Termination of Cooperation Agreement, on July 22, 2025, the Reporting Persons terminated the Group Agreement. A copy of the termination of the Group Agreement is attached hereto as Exhibit 99.2 and is incorporated herein by reference.
Item 7.	Material to be Filed as Exhibits.
	Item 7 is hereby amended to add the following exhibits: Exhibit 1 - Transaction in Securities. 99.1 - Termination of Cooperation Agreement by and among the Reporting Persons, the Issuer and the other signatories thereto, dated July 22, 2025. 99.2 - Termination of Group Agreement by and among the Reporting Persons, dated July 22, 2025.

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.

Funicular Funds, LP

Signature:	/s/ Jacob Ma-Weaver
Name/Title:	Jacob Ma-Weaver, Managing Member
Date:	07/24/2025

Cable Car Capital, LP

Signature:	/s/ Jacob Ma-Weaver
Name/Title:	Jacob Ma-Weaver, Managing Member
Date:	07/24/2025

Ma-Weaver Jacob

Signature:	/s/ Jacob Ma-Weaver
Name/Title:	Jacob Ma-Weaver
Date:	07/24/2025

Anson Investments Master Fund LP

Signature:	/s/ Tony Moore
Name/Title:	Tony Moore, Director of AIMF GP LLC, its general partner
Date:	11/01/2023

AIMF GP LLC

Signature:	/s/ Tony Moore
Name/Title:	Tony Moore, Director
Date:	07/24/2025

Anson East Master Fund LP

Signature:	/s/ Tony Moore
Name/Title:	Tony Moore, Director of AEMF GP LLC, its general partner
Date:	07/24/2025

AEMF GP LLC

Signature:	/s/ Tony Moore
Name/Title:	Tony Moore, Director
Date:	07/24/2025

Anson Opportunities Master Fund LP

Signature:	/s/ Tony Moore
Name/Title:	Tony Moore, Director of AOMF GP, LLC, its general partner
Date:	07/24/2025

AOMF GP, LLC

Signature:	/s/ Tony Moore
Name/Title:	Tony Moore, Director
Date:	07/24/2025

Anson Funds Management LP

Signature:	/s/ Tony Moore
Name/Title:	Tony Moore, Manager of Anson Management GP LLC, its general partner
Date:	07/24/2025

Anson Management GP LLC

Signature:	/s/ Tony Moore
Name/Title:	Tony Moore, Manager
Date:	07/24/2025

Tony Moore

Signature:	/s/ Tony Moore
Name/Title:	Tony Moore
Date:	07/24/2025

Anson Advisors Inc.

Signature:	/s/ Amin Nathoo
Name/Title:	Amin Nathoo, Director
Date:	07/24/2025

Amin Nathoo

Signature:	/s/ Amin Nathoo
Name/Title:	Amin Nathoo
Date:	07/24/2025

Moez Kassam

Signature:	/s/ Moez Kassam
Name/Title:	Moez Kassam
Date:	07/24/2025