Mobia Medical (MOBI) insiders convert preferred, notes and add 33K common shares
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Mobia Medical, Inc. reported that investment entities affiliated with Green Park & Golf Ventures II, LLC and related holders converted multiple preferred stock series, warrants and convertible notes into Common Stock, largely eliminating these derivatives immediately prior to the company’s initial public offering.
The filing shows conversions of Series B, Series D, Series F, Series E-1 and Series E-2 Preferred Stock into Common Stock, as well as Convertible Notes that converted into Common Stock under a formula based on the Offering price and pre‑offering valuation. A warrant to purchase Series B Preferred Stock was exercised, issuing Common Stock at an exercise price of $3.73744 per share with the warrant otherwise expiring on December 14, 2032.
In addition to these non‑cash conversions, an affiliated entity reported an open‑market purchase of 33,333 shares of Common Stock at $15.00 per share, increasing indirect holdings. All reported positions are held indirectly through LLCs managed by GPG Ventures II and its managers, who share voting and dispositive power over the securities.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Buyer: 33,333 shares ($499,995)
Net Buy
23 txns
Insider
Green Park & Golf Ventures II, LLC, GPG SC, LLC, GPG WG, LLC, GPG MTIF, LLC, Micro TI Investment 2, LLC, Micro TI Investment, LLC, MTI 20 Investment, LLC, Heighten Clay M, Soderstrom Carl D, Garcia Gilbert G. II
Role
10% Owner | 10% Owner | 10% Owner | 10% Owner | 10% Owner | 10% Owner | 10% Owner | 10% Owner | 10% Owner | 10% Owner
Bought
33,333 shs ($500K)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Conversion | Series E-2 Preferred Stock | 78,606 | $0.00 | -- |
| Conversion | Series F Preferred Stock | 56,996 | $0.00 | -- |
| Conversion | Convertible Notes | 100,000 | $0.00 | -- |
| Conversion | Series E-1 Preferred Stock | 90,529 | $0.00 | -- |
| Conversion | Convertible Notes | 250,000 | $0.00 | -- |
| Conversion | Convertible Notes | 5,573,878.52 | $0.00 | -- |
| Conversion | Series B Preferred Stock | 81,000 | $0.00 | -- |
| X | Series B Preferred Warrant | 81,000 | $0.00 | -- |
| Conversion | Series B Preferred Stock | 94,000 | $0.00 | -- |
| Conversion | Convertible Notes | 293,000 | $0.00 | -- |
| Conversion | Series E-1 Preferred Stock | 1,083,604 | $0.00 | -- |
| Conversion | Common Stock | 22,568 | $0.00 | -- |
| Conversion | Common Stock | 16,364 | $0.00 | -- |
| Conversion | Common Stock | 8,333 | $0.00 | -- |
| Conversion | Common Stock | 25,991 | $0.00 | -- |
| Conversion | Common Stock | 20,833 | $0.00 | -- |
| Purchase | Common Stock | 33,333 | $15.00 | $500K |
| Conversion | Common Stock | 464,489 | $0.00 | -- |
| Conversion | Common Stock | 23,255 | $0.00 | -- |
| X | Common Stock | 23,255 | $0.00 | -- |
| Conversion | Common Stock | 26,988 | $0.00 | -- |
| Conversion | Common Stock | 24,416 | $0.00 | -- |
| Conversion | Common Stock | 311,112 | $0.00 | -- |
Holdings After Transaction:
Series E-2 Preferred Stock — 0 shares (Indirect, See Footnote);
Series F Preferred Stock — 0 shares (Indirect, See Footnote);
Convertible Notes — 0 shares (Indirect, See Footnote);
Series E-1 Preferred Stock — 0 shares (Indirect, See Footnote);
Series B Preferred Stock — 0 shares (Indirect, See Footnote);
Series B Preferred Warrant — 0 shares (Indirect, See Footnote);
Common Stock — 22,568 shares (Indirect, See Footnote)
Footnotes (1)
- Each share of Series B Preferred Stock, Series D Preferred Stock, Series F Preferred Stock, Series E-1 Preferred Stock and Series E-2 Preferred Stock converted into Common Stock immediately prior to the completion of the Issuer's initial public offering (the "Offering") pursuant to its terms. The securities are held by GPG SC, LLC ("SC"). The Convertible Notes converted into Common Stock immediately prior to the closing of the Offering. The conversion price is the lower of (a) 80% of the Offering price per share and (b) the valuation of the Issuer immediately prior to the closing of the Offering divided by the number of fully diluted shares of capital stock (on an as-converted basis) outstanding immediately prior to Offering, excluding the Convertible Notes. The securities are held by GPG WG, LLC ("WG"). The securities are held by GPG MTIF, LLC ("MTIF"). The securities are held by Micro TI Investment 2, LLC ("Micro TI 2"). Common stock issued upon exercise of warrant to purchase Series B Preferred Stock. The warrants have an exercise price of $3.73744 per share. Unless exercised earlier, the warrants will expire December 14, 2032. The securities are held by Micro TI Investment, LLC ("Micro TI"). The securities are held by MTI 20 Investment, LLC ("MTI 20"). Green Park & Golf Ventures II, LLC ("GPG Ventures II") is the managing member of each of SC, WG, MTIF, Micro TI, Micro TI 2, and MTI 20. Clay M. Heighten, MD, Carl D. Soderstrom and Gilbert G. Garcia II are managers of GPG Ventures II and share voting and dispositive power with respect to the shares held by each of SC, WG, MTIF, Micro TI, Micro TI 2, and MTI 20, and as a result may be deemed to beneficially own such securities.
Key Figures
Open-market purchase: 33,333 shares at $15.00
Post-purchase holdings: 80,157 shares
Series E-1 conversion: 1,083,604 preferred into 311,112 common
+4 more
7 metrics
Open-market purchase
33,333 shares at $15.00
Common Stock bought indirectly on May 11, 2026
Post-purchase holdings
80,157 shares
Indirect Common Stock position after 33,333-share buy
Series E-1 conversion
1,083,604 preferred into 311,112 common
Series E-1 Preferred Stock converted immediately before IPO
Large notes conversion
5,573,878.52 notes into 464,489 common
Convertible Notes conversion into Common Stock
Series B warrant exercise
$3.73744/share strike
Warrant exercisable until December 14, 2032
Exercise and conversion count
22 acquire-type transactions
Conversions and exercises reported in transaction summary
Net buy direction
33,333 net buy shares
Transaction summary netBuySellShares, net-buy
Key Terms
Convertible Notes, in-the-money derivative exercise, Series E-1 Preferred Stock, initial public offering, +2 more
6 terms
Convertible Notes financial
"The Convertible Notes converted into Common Stock immediately prior to the closing of the Offering."
Convertible notes are a type of short-term loan that a company receives from investors, which can later be turned into company shares instead of being paid back in cash. They matter to investors because they offer a way to support a company early on while giving the potential to own a stake in its success if the company grows and later raises more funding.
in-the-money derivative exercise financial
"transaction_action": "in-the-money derivative exercise""
Series E-1 Preferred Stock financial
"Each share of Series B Preferred Stock, Series D Preferred Stock, Series F Preferred Stock, Series E-1 Preferred Stock and Series E-2 Preferred Stock converted into Common Stock"
initial public offering financial
"converted into Common Stock immediately prior to the completion of the Issuer's initial public offering (the "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.
exercise price financial
"The warrants have an exercise price of $3.73744 per share."
The exercise price is the fixed amount at which you can buy or sell an asset, like a stock, when using an options contract. It matters because it helps determine whether exercising the option will be profitable or not, depending on the current market price. Think of it as the set price you agree on today to buy or sell later.
voting and dispositive power financial
"share voting and dispositive power with respect to the shares held by each of SC, WG, MTIF, Micro TI, Micro TI 2, and MTI 20"
FAQ
What did Mobia Medical (MOBI) insiders report in this Form 4?
Affiliated investment entities reported large conversions of preferred stock, warrants and convertible notes into Mobia Medical Common Stock, plus an open-market purchase of 33,333 shares at $15.00 per share. These actions primarily clean up pre-IPO capital structure and increase indirect common ownership.
Which Mobia Medical (MOBI) securities were converted into Common Stock?
Series B, Series D, Series F, Series E-1 and Series E-2 Preferred Stock, as well as several tranches of Convertible Notes, converted into Mobia Medical Common Stock. These conversions occurred immediately before completion or closing of the company’s initial public offering, simplifying the equity structure.
How were Mobia Medical (MOBI) Convertible Notes converted in this filing?
Convertible Notes converted into Mobia Medical Common Stock immediately before the offering’s closing. The conversion price was the lower of 80% of the offering price per share or the issuer’s pre-offering valuation divided by fully diluted shares outstanding, excluding the notes, as described in the disclosure.