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enVVeno Medical (NVNO) investor urges halt to trials, strategic review

Filing Impact
(High)
Filing Sentiment
(Neutral)
Form Type
SCHEDULE 13D

Rhea-AI Filing Summary

Northstrive Fund II LP and Braeden Lichti filed a Schedule 13D on enVVeno Medical Corp after accumulating a 5.05% stake in its common stock. As of February 10, 2026, Lichti beneficially owned 33,151 shares, based on 655,606 shares outstanding as of January 20, 2026.

The investors sent a letter to enVVeno’s board recommending an immediate halt to all clinical operations and a formal strategic review. Their suggestions include returning capital to shareholders or pursuing a merger or reverse merger to preserve cash and limit further dilution, while reserving the right to increase or reduce their position.

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Insights

New 5.05% holder adopts activist stance, urging a strategic overhaul at enVVeno Medical.

Northstrive Fund II LP and Braeden Lichti report beneficial ownership of 33,151 shares of enVVeno Medical, or 5.05% of the company’s common stock, calculated against 655,606 shares outstanding. This crosses the 5% threshold that triggers detailed Schedule 13D disclosure.

The investors’ board letter recommends immediately halting all clinical operations and launching a formal strategic review. Options they highlight include returning capital to shareholders or pursuing a merger or reverse merger to maximize value while conserving cash and limiting further dilution.

The filing states they did not have control intent as of February 10, 2026, but the board letter reflects a willingness to influence strategy. Future updates in company communications and additional ownership changes will clarify how enVVeno’s board responds and whether the investors escalate their involvement.






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






SCHEDULE 13D






SCHEDULE 13D


Braeden Lichti
Signature:/s/ Braeden Lichti
Name/Title:Braeden Lichti, individually
Date:02/20/2026
Northstrive Fund II LP
Signature:/s/ Braeden Lichti
Name/Title:Braeden Lichti/Manager
Date:02/20/2026

FAQ

What stake in enVVeno Medical Corp (NVNO) do Northstrive Fund II and Braeden Lichti report?

Northstrive Fund II LP and Braeden Lichti report beneficial ownership of 33,151 enVVeno Medical common shares, representing 5.05% of the company’s outstanding stock. This percentage is based on 655,606 shares outstanding reported by enVVeno on January 20, 2026.

Who are the reporting persons in the enVVeno Medical (NVNO) Schedule 13D filing?

The Schedule 13D is filed jointly by Northstrive Fund II LP and Braeden Lichti. Northstrive Fund is a Delaware investment partnership, while Lichti is its Manager and CEO of Northstrive Companies Inc., an advisory and investment firm based in California.

What strategic changes are Northstrive and Braeden Lichti urging at enVVeno Medical (NVNO)?

The investors’ board letter urges enVVeno to immediately halt all clinical operations and begin a formal strategic review. They recommend options like returning capital to shareholders or pursuing a merger or reverse merger to preserve cash and reduce further dilution.

How many enVVeno Medical (NVNO) shares does Northstrive Fund II LP hold directly?

Northstrive Fund II LP reports 20,129 shares of enVVeno Medical common stock with shared voting and dispositive power. It has no sole voting or dispositive power, while Braeden Lichti holds additional shares directly, bringing total beneficial ownership to 33,151 shares.

Did Northstrive and Braeden Lichti seek control of enVVeno Medical (NVNO) in this Schedule 13D?

As of February 10, 2026, the filing states that neither reporting person had control intent. However, their board letter is described as indicating a purpose or effect that could potentially change or influence control, prompting the switch from a prior Schedule 13G.

What future actions do Northstrive and Braeden Lichti contemplate regarding enVVeno Medical (NVNO)?

The investors state they will review their investment on a continuing basis and may either liquidate or further accumulate enVVeno shares. They may also consider or propose actions described in Item 4 of Schedule 13D, depending on company performance and market conditions.
Envveno Medical Corporation

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