Alyeska (MTVA) holds 508,585 exercisable shares; 9.99% cap limits exercises

Rhea-AI Filing Summary

METAVIA INC. Schedule 13G shows Alyeska Investment Group, L.P. and related filers report beneficial ownership of 508,585 shares of Common Stock as of March 31, 2026. The filing states the shares are issuable upon exercise of warrants and pre-funded warrants but are subject to a 9.99% beneficial ownership limitation.

The filing discloses the Reporting Persons hold warrants exercisable for 2,903,220 shares and pre-funded warrants exercisable for 367,740 shares (total 3,270,960), and that based on 5,090,936 shares outstanding (per a April 7, 2026 prospectus) the 9.99% cap permits exercise of only 508,585 shares. Voting and dispositive power are reported as shared for the 508,585 shares.

Insights

Institutional Ownership Analyst

Large reported position limited by a 9.99% exercise cap.

The filing documents a substantial derivative position: 3,270,960 warrants and pre-funded warrants held by the reporting group, but exercise is constrained by a contractual beneficial ownership limitation of 9.99%. The excerpt cites 5,090,936 shares outstanding as the base for that cap.

Cash‑flow treatment and intended exercise timing are not stated; actual dilution depends on whether and when holders elect to exercise up to the permitted 508,585 shares. Subsequent filings would show any exercises or increases in ownership.

Corporate Governance Specialist

Shared voting/dispositive power and joint filing are disclosed; CEO disclaimer noted.

The statement attributes shared voting and dispositive authority over 508,585 shares to Alyeska entities; it also records a disclaimer by Anand Parekh while noting manager control relationships. The filing includes a joint filing statement under Rule 13d-1(k).

These disclosures clarify who may influence voting but do not itself change corporate control. Watch for amendments showing exercises or changes to the ownership cap.

Key Figures

Beneficially owned shares: 508,585 shares Warrants exercisable: 2,903,220 shares Pre-funded warrants: 367,740 shares +3 more

6 metrics

Beneficially owned shares 508,585 shares Amount exercisable under ownership cap as of March 31, 2026

Warrants exercisable 2,903,220 shares Warrants held by Reporting Persons (per exhibit)

Pre-funded warrants 367,740 shares Pre-funded warrants held by Reporting Persons (per exhibit)

Total warrants and pre-funded 3,270,960 shares Aggregate exercisable instruments held by Reporting Persons

Beneficial ownership limit 9.99% Contractual limitation on exercise stated in the filing

Shares outstanding referenced 5,090,936 shares Per Form 424B3 Prospectus dated April 7, 2026

Key Terms

beneficial ownership limitation, pre-funded warrants, Schedule 13G

3 terms

beneficial ownership limitation regulatory

"instruments contain a beneficial ownership limitation that prohibits exercise"

A beneficial ownership limitation is a rule that caps the percentage of a company’s shares an investor can be treated as owning or controlling for voting, regulatory or tax purposes. It matters to investors because it can restrict how many shares a person or group can buy or vote, affect takeover chances, and influence share liquidity and value — like a speed limit that prevents any single driver from taking over the whole road.

pre-funded warrants financial

"pre-funded warrants exercisable for 367,740 shares"

Pre-funded warrants are financial instruments that give investors the right to purchase a company's stock at a set price, but with most or all of the purchase price paid upfront. They function like a coupon or gift card for stock, allowing investors to buy shares later at a fixed price, which can be beneficial if they want to avoid future price increases. This makes them important for investors seeking flexibility and certainty in their investment plans.

Schedule 13G regulatory

"Item 1. (a) Name of issuer: METAVIA INC."

A Schedule 13G is a formal document that investors file with the government when they acquire a large ownership stake in a company, usually for investment purposes rather than control. It helps keep the public informed about who owns significant parts of a company's shares, which can influence how the company is managed and how investors make decisions. Filing this schedule is important for transparency and understanding the ownership landscape of publicly traded companies.

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

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Accepted by SEC EDGAR 05/15/2026 - 04:39 PM Learn about SEC filing dates

FAQ

What stake does Alyeska report in METAVIA (MTVA)?

Alyeska reports beneficial ownership of 508,585 shares of METAVIA common stock as of March 31, 2026. These shares represent the number exercisable under a 9.99% ownership cap tied to outstanding shares per the prospectus.

How many warrants and pre-funded warrants does the filing list?

The filing lists warrants exercisable for 2,903,220 shares and pre-funded warrants exercisable for 367,740 shares, totaling 3,270,960 instruments. A contractual limitation restricts exercise to the 9.99% permitted amount.

What limits exercise of Alyeska’s warrants into common stock?

A contractual beneficial ownership limitation of 9.99% prevents exercise to the extent it would exceed that threshold. Based on 5,090,936 shares outstanding (per the April 7, 2026 prospectus), the cap permits exercise of 508,585 shares.

Who is reported as having voting and dispositive power over the shares?

The filing reports shared voting power and shared dispositive power for 508,585 shares by Alyeska entities. It also notes Alyeska Investment Group acts as investment manager and includes a disclosure about Anand Parekh’s potential attribution and disclaimer.

What outstanding share count does the filing reference?

The filing references 5,090,936 shares outstanding as stated in a Form 424B3 prospectus dated April 7, 2026, and uses that figure to calculate the 9.99% exercise limitation and permitted exercise amount.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

METAVIA INC.

(Name of Issuer)

Common Stock, par value $0.001 per share

(Title of Class of Securities)

64132R503

(CUSIP Number)

03/31/2026

(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)

schemaVersion:

SCHEDULE 13G

CUSIP Number(s): 64132R503

1

Names of Reporting Persons

Alyeska Investment Group, L.P.

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 508,585.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 508,585.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

508,585.00

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)

9.99 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

CUSIP Number(s): 64132R503

1

Names of Reporting Persons

Alyeska Fund GP, 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 508,585.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 508,585.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

508,585.00

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)

9.99 %

12

Type of Reporting Person (See Instructions)

OO

SCHEDULE 13G

CUSIP Number(s): 64132R503

1

Names of Reporting Persons

Anand Parekh

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 508,585.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 508,585.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

508,585.00

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)

9.99 %

12

Type of Reporting Person (See Instructions)

IN

SCHEDULE 13G

Item 1.
(a)	Name of issuer: METAVIA INC.
(b)	Address of issuer's principal executive offices: 545 Concord Avenue, Suite 210,Cambridge, MA 02138
Item 2.
(a)	Name of person filing: (i) Alyeska Investment Group, L.P. (ii) Alyeska Fund GP, LLC (iii) Anand Parekh
(b)	Address or principal business office or, if none, residence: (i) 77 West Wacker Drive, 7th Floor, Chicago, IL 60601 (ii) 77 West Wacker Drive, 7th Floor, Chicago, IL 60601 (iii) 77 West Wacker Drive, 7th Floor, Chicago, IL 60601
(c)	Citizenship: (i) Alyeska Investment Group, L.P. - Delaware (ii) Alyeska Fund GP, LLC - Delaware (iii) Anand Parekh - United States of America
(d)	Title of class of securities: Common Stock, par value $0.001 per share
(e)	CUSIP Number(s): 64132R503
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: 508,585
(b)	Percent of class: 9.99%
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 0
	(ii) Shared power to vote or to direct the vote: 508,585
	(iii) Sole power to dispose or to direct the disposition of: 0
	(iv) Shared power to dispose or to direct the disposition of: 508,585
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
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 acquired and are held in the ordinary course of business and 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.

Alyeska Investment Group, L.P.

Signature:	Jason Bragg
Name/Title:	Jason Bragg | Chief Financial Officer
Date:	05/15/2026

Alyeska Fund GP, LLC

Signature:	Jason Bragg
Name/Title:	Jason Bragg | Chief Financial Officer
Date:	05/15/2026

Anand Parekh

Signature:	Anand Parekh
Name/Title:	Anand Parekh | Self
Date:	05/15/2026

Exhibit Information

As of March 31, 2026, the Reporting Persons beneficially own 508,585 shares of Common Stock issuable upon exercise of warrants and pre-funded warrants. The Reporting Persons hold warrants exercisable for 2,903,220 shares and pre-funded warrants exercisable for 367,740 shares (3,270,960 total); however, such instruments contain a beneficial ownership limitation that prohibits exercise to the extent it would cause the holder's beneficial ownership to exceed 9.99% of the outstanding Common Stock. Based on 5,090,936 shares of Common Stock outstanding (per the Form 424B3 Prospectus dated April 7, 2026), the 9.99% limitation permits exercise of only 508,585 shares. Position held by Alyeska Master Fund, L.P. Alyeska Investment Group, L.P., as investment manager, exercises voting and investment control over the shares held by Alyeska Master Fund, L.P. Anand Parekh, as Chief Executive Officer of Alyeska Investment Group, L.P., may be deemed the beneficial owner of such shares. Mr. Parekh disclaims beneficial ownership of such shares. JOINT FILING STATEMENT PURSUANT TO RULE 13d-1(k) The undersigned acknowledge and agree that the foregoing statement on SCHEDULE 13G, is filed on behalf of each of the undersigned and that all subsequent amendments to this statement on SCHEDULE 13G, shall be filed on behalf of each of the undersigned without the necessity of filing additional joint acquisition statements. The undersigned acknowledge that each shall be responsible for the timely filing of such amendments, and for the completeness and accuracy of the information concerning him or it contained therein, but shall not be responsible for the completeness and accuracy of the information concerning the others, except to the extent that he or it knows or has reason to believe that such information is inaccurate.