Nuwellis, Inc. (NUWE) investors detail 4.7% warrant-based ownership stake

Rhea-AI Filing Summary

Nuwellis, Inc. is the issuer of common stock, par value $0.0001 per share, held by a group consisting of Mitchell P. Kopin, Daniel B. Asher, and Intracoastal Capital LLC. The group reports beneficial ownership of 155,536 shares of common stock, representing 4.7% of the class.

This position is entirely tied to warrants, including 154,440 shares underlying a warrant issued under a Securities Purchase Agreement dated July 31, 2026, plus several smaller legacy warrants. Multiple warrants contain a 4.99% beneficial ownership blocker, limiting exercisability so the group does not exceed that ownership threshold. All voting and dispositive power over the 155,536 shares is shared, with no sole power reported.

Key Figures

Beneficially owned shares: 155,536 shares Percent of class owned: 4.7% Shares underlying Intracoastal Warrant 1: 154,440 shares +4 more

7 metrics

Beneficially owned shares 155,536 shares Shares beneficially owned by the reporting persons as of close of business on August 6, 2025

Percent of class owned 4.7% Beneficial ownership percentage of Nuwellis common stock class

Shares underlying Intracoastal Warrant 1 154,440 shares Shares of common stock issuable upon exercise of Intracoastal Warrant 1

Shares outstanding baseline 1,864,244 shares Nuwellis common shares outstanding as of July 30, 2026, used in ownership calculations

Additional shares issued at SPA closing 1,310,890 shares Aggregate shares issued at the closing of the July 31, 2026 Securities Purchase Agreement

Ownership blocker threshold 4.99% Maximum beneficial ownership allowed under each Intracoastal warrant’s blocker provision

Potential shares without blockers 309,976 shares Shares the reporting persons may have been deemed to beneficially own absent blocker provisions

Key Terms

beneficial ownership, Securities Purchase Agreement, blocker provision, beneficial ownership of more than 4.99%, +1 more

5 terms

beneficial ownership financial

"each of the Reporting Persons may have been deemed to have beneficial ownership of 154,440 shares"

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.

Securities Purchase Agreement financial

"Immediately following the execution of the Securities Purchase Agreement with the Issuer on July 31, 2026"

A securities purchase agreement is a written contract between a buyer and a seller outlining the terms for buying or selling financial assets such as stocks or bonds. It specifies details like the price, quantity, and conditions of the transaction, similar to a shopping list with agreed-upon terms. For investors, it provides clarity and legal protection when transferring ownership of these financial instruments.

blocker provision financial

"because Intracoastal Warrant 1 contains a blocker provision under which the holder thereof does not have the right"

beneficial ownership of more than 4.99% financial

"does not have the right to exercise Intracoastal Warrant 1 to the extent that such exercise would result in beneficial ownership of more than 4.99%"

warrant financial

"shares of Common Stock issuable upon exercise of a warrant to be issued to Intracoastal at the closing"

A warrant is a time-limited financial contract that gives its holder the right to buy a company's shares at a set price before a specified date, like a coupon that lets you purchase stock at a fixed discount for a limited time. It matters to investors because warrants offer leveraged exposure to a stock’s upside and can dilute existing shareholders if exercised, so they affect potential gains and the company’s outstanding share count.

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

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Available on EDGAR 08/06/2026 - 05:14 PM Accepted by SEC EDGAR 08/06/2026 - 05:13 PM Learn about SEC filing dates

FAQ

What percentage of Nuwellis, Inc. (NUWE) does the reporting group currently beneficially own?

The reporting group beneficially owns 155,536 shares of Nuwellis common stock, representing 4.7% of the outstanding class. This percentage is calculated using the issuer’s reported 1,864,244 shares outstanding plus shares issued and issuable under the described warrants.

Who are the reporting persons in the Nuwellis, Inc. (NUWE) Schedule 13G?

The Schedule 13G is filed on behalf of Mitchell P. Kopin, Daniel B. Asher, and Intracoastal Capital LLC. Kopin and Asher are U.S. individuals, and Intracoastal is a Delaware limited liability company sharing voting and dispositive power over the reported shares.

How many Nuwellis (NUWE) shares are covered by Intracoastal’s warrants?

The group’s 155,536 shares of beneficial ownership consist of shares issuable upon exercise of seven Intracoastal warrants, including 154,440 shares under Intracoastal Warrant 1 and smaller amounts under six additional warrants, all subject to ownership blocker provisions.

What is the ownership blocker on Intracoastal’s Nuwellis (NUWE) warrants?

Each Intracoastal warrant includes a 4.99% beneficial ownership blocker. This prevents exercise to the extent it would cause the holder, together with affiliates and certain related persons, to beneficially own more than 4.99% of Nuwellis’s outstanding common stock at any time.

What was the higher beneficial ownership level previously reported for NUWE by this group?

Immediately after executing the July 31, 2026 Securities Purchase Agreement, the group may have been deemed to beneficially own 154,440 shares, or approximately 7.7% of Nuwellis common stock, before considering the separate warrant-based structure and blocker limitations reflected in the later calculation.

Does the reporting group have sole or shared voting power over Nuwellis (NUWE) shares?

The reporting group has 0 shares with sole voting or dispositive power and 155,536 shares with shared voting and shared dispositive power. This means decisions on voting and disposition of the reported shares are made collectively rather than individually.

Why is the Nuwellis (NUWE) ownership described as 5 percent or less?

Item 5 notes ownership of 5 percent or less of the class, consistent with the reported 4.7% beneficial ownership. This level reflects the combination of outstanding shares and those issuable under the warrants subject to the 4.99% blocker provisions.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

Nuwellis, Inc.

(Name of Issuer)

Common stock, par value $0.0001 per share

(Title of Class of Securities)

67113Y603

(CUSIP Number)

07/31/2026

(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): 67113Y603

1

Names of Reporting Persons

Mitchell P. Kopin

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 155,536.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 155,536.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

155,536.00

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)

4.7 %

12

Type of Reporting Person (See Instructions)

HC, IN

SCHEDULE 13G

CUSIP Number(s): 67113Y603

1

Names of Reporting Persons

Daniel B. Asher

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 155,536.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 155,536.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

155,536.00

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)

4.7 %

12

Type of Reporting Person (See Instructions)

HC, IN

SCHEDULE 13G

CUSIP Number(s): 67113Y603

1

Names of Reporting Persons

Intracoastal Capital 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 155,536.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 155,536.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

155,536.00

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)

4.7 %

12

Type of Reporting Person (See Instructions)

OO

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Nuwellis, Inc.
(b)	Address of issuer's principal executive offices: 12988 Valley View Road, Eden Prairie, MN 55344
Item 2.
(a)	Name of person filing: This Schedule 13G is being filed on behalf of (i) Mitchell P. Kopin, an individual ("Mr. Kopin"), (ii) Daniel B. Asher, an individual ("Mr. Asher") and (iii) Intracoastal Capital LLC, a Delaware limited liability company ("Intracoastal" and together with Mr. Kopin and Mr. Asher, collectively the "Reporting Persons").
(b)	Address or principal business office or, if none, residence: The principal business office of Mr. Kopin and Intracoastal is 245 Palm Trail, Delray Beach, Florida 33483. The principal business office of Mr. Asher is 1011 Lake Street, Suite 311, Oak Park, Illinois 60301.
(c)	Citizenship: Mr. Kopin is a citizen of the United States of America. Mr. Asher is a citizen of the United States of America. Intracoastal is a Delaware limited liability company.
(d)	Title of class of securities: Common stock, par value $0.0001 per share
(e)	CUSIP Number(s): 67113Y603
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: (i) Immediately following the execution of the Securities Purchase Agreement with the Issuer on July 31, 2026 (the "SPA") (as disclosed in the Form 8-K filed by the Issuer with the Securities and Exchange Commission on August 3, 2026), each of the Reporting Persons may have been deemed to have beneficial ownership of 154,440 shares of Common Stock to be issued to Intracoastal at the closing of the transaction contemplated by the SPA, and all such shares of Common Stock represent beneficial ownership of approximately 7.7% of the Common Stock, based on (1) 1,864,244 shares of Common Stock outstanding as of July 30, 2026, as reported to by the Issuer and (2) 154,440 shares of Common Stock to be issued to Intracoastal at the closing of the transaction contemplated by the SPA. The foregoing excludes (I) 154,440 shares of Common Stock issuable upon exercise of a warrant to be issued to Intracoastal at the closing of the transaction contemplated by the SPA ("Intracoastal Warrant 1") because Intracoastal Warrant 1 contains a blocker provision under which the holder thereof does not have the right to exercise Intracoastal Warrant 1 to the extent (but only to the extent) that such exercise would result in beneficial ownership by the holder thereof, together with the holder's affiliates, and any other persons acting as a group together with the holder or any of the holder's affiliates, of more than 4.99% of the Common Stock, (II) 114 shares of Common Stock issuable upon exercise of a warrant held by Intracoastal ("Intracoastal Warrant 2") because Intracoastal Warrant 2 contains a blocker provision under which the holder thereof does not have the right to exercise Intracoastal Warrant 2 to the extent (but only to the extent) that such exercise would result in beneficial ownership by the holder thereof, together with the holder's affiliates, and any other persons acting as a group together with the holder or any of the holder's affiliates, of more than 4.99% of the Common Stock, (III) 71 shares of Common Stock issuable upon exercise of a second warrant held by Intracoastal ("Intracoastal Warrant 3") because Intracoastal Warrant 3 contains a blocker provision under which the holder thereof does not have the right to exercise Intracoastal Warrant 3 to the extent (but only to the extent) that such exercise would result in beneficial ownership by the holder thereof, together with the holder's affiliates, and any other persons acting as a group together with the holder or any of the holder's affiliates, of more than 4.99% of the Common Stock, (IV) 55 shares of Common Stock issuable upon exercise of a third warrant held by Intracoastal ("Intracoastal Warrant 4") because Intracoastal Warrant 4 contains a blocker provision under which the holder thereof does not have the right to exercise Intracoastal Warrant 4 to the extent (but only to the extent) that such exercise would result in beneficial ownership by the holder thereof, together with the holder's affiliates, and any other persons acting as a group together with the holder or any of the holder's affiliates, of more than 4.99% of the Common Stock, (V) 680 shares of Common Stock issuable upon exercise of a fourth warrant held by Intracoastal ("Intracoastal Warrant 5") because Intracoastal Warrant 5 contains a blocker provision under which the holder thereof does not have the right to exercise Intracoastal Warrant 5 to the extent (but only to the extent) that such exercise would result in beneficial ownership by the holder thereof, together with the holder's affiliates, and any other persons acting as a group together with the holder or any of the holder's affiliates, of more than 4.99% of the Common Stock, (VI) 88 shares of Common Stock issuable upon exercise of a fifth warrant held by Intracoastal ("Intracoastal Warrant 6") because Intracoastal Warrant 6 contains a blocker provision under which the holder thereof does not have the right to exercise Intracoastal Warrant 6 to the extent (but only to the extent) that such exercise would result in beneficial ownership by the holder thereof, together with the holder's affiliates, and any other persons acting as a group together with the holder or any of the holder's affiliates, of more than 4.99% of the Common Stock and (VII) 88 shares of Common Stock issuable upon exercise of a sixth warrant held by Intracoastal ("Intracoastal Warrant 7") because Intracoastal Warrant 7 contains a blocker provision under which the holder thereof does not have the right to exercise Intracoastal Warrant 7 to the extent (but only to the extent) that such exercise would result in beneficial ownership by the holder thereof, together with the holder's affiliates, and any other persons acting as a group together with the holder or any of the holder's affiliates, of more than 4.99% of the Common Stock. Without such blocker provisions, each of the Reporting Persons may have been deemed to have beneficial ownership of 309,976 shares of Common Stock. (ii) As of the close of business on August 6, 2025, each of the Reporting Persons may have been deemed to have beneficial ownership of 155,536 shares of Common Stock, which consisted of (i) 154,440 shares of Common Stock issuable upon exercise of Intracoastal Warrant 1, (ii) 114 shares of Common Stock issuable upon exercise of Intracoastal Warrant 2, (iii) 71 shares of Common Stock issuable upon exercise of Intracoastal Warrant 3, (iv) 55 shares of Common Stock issuable upon exercise of Intracoastal Warrant 4, (v) 680 shares of Common Stock issuable upon exercise of Intracoastal Warrant 5, (vi) 88 shares of Common Stock issuable upon exercise of Intracoastal Warrant 6 and (vii) 88 shares of Common Stock issuable upon exercise of Intracoastal Warrant 7, and all such shares of Common Stock represent beneficial ownership of approximately 4.7% of the Common Stock, based on (1) 1,864,244 shares of Common Stock outstanding as of July 30, 2026, as reported to by the Issuer, plus (2) 1,310,890 shares of Common Stock in the aggregate issued at the closing of the transaction contemplated by the SPA, (3) 154,440 shares of Common Stock issuable upon exercise of Intracoastal Warrant 1, (4) 114 shares of Common Stock issuable upon exercise of Intracoastal Warrant 2, (5) 71 shares of Common Stock issuable upon exercise of Intracoastal Warrant 3, (6) 55 shares of Common Stock issuable upon exercise of Intracoastal Warrant 4, (7) 680 shares of Common Stock issuable upon exercise of Intracoastal Warrant 5, (8) 88 shares of Common Stock issuable upon exercise of Intracoastal Warrant 6 and (9) 88 shares of Common Stock issuable upon exercise of Intracoastal Warrant 7
(b)	Percent of class: 4.7 %
(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: 155,536
	(iii) Sole power to dispose or to direct the disposition of: 0
	(iv) Shared power to dispose or to direct the disposition of: 155,536
Item 5.	Ownership of 5 Percent or Less of a Class.
	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.

Mitchell P. Kopin

Signature:	/s/ Mitchell P. Kopin
Name/Title:	Mitchell P. Kopin
Date:	08/06/2026

Daniel B. Asher

Signature:	/s/ Daniel B. Asher
Name/Title:	Daniel B. Asher
Date:	08/06/2026

Intracoastal Capital LLC

Signature:	/s/ Mitchell P. Kopin
Name/Title:	Mitchell P. Kopin, Manager
Date:	08/06/2026

Exhibit Information

Exhibit 1 - Joint Filing Agreement