Doma and John Templeton Buy 2.7M Pacira Shares; 5.7% Stake Disclosed

Rhea-AI Filing Summary

This Schedule 13D discloses that Doma Perpetual-related entities, Pedro Escudero and the John Templeton Foundation together beneficially own 2,698,618 common shares of Pacira BioSciences, representing 5.7% of 47,432,721 outstanding shares as of 8/5/2025. Doma Master Fund accumulated 1,804,069 shares in 2023–Q1 2025 for an aggregate purchase price of $48,257,894; Mr. Escudero bought 159,000 shares in Q3 2024 for $3,256,514; the John Templeton Foundation purchased 735,549 shares on 8/1, 8/4 and 8/5/2025 for $16,329,100.

The reporting persons state the shares were acquired "with the intent to influence the Issuer" but not to take full control. They say they are not currently pursuing a merger, management or operational changes, though they may contemplate such actions if the Common Shares are deemed to be underperforming. The filing includes no contracts or exhibits describing specific plans.

Positive

• Material disclosed stake: Reporting persons beneficially own 2,698,618 shares, equal to 5.7% of outstanding Pacira common stock.
• Significant capital deployed: Aggregate purchases total $67,843,508 across the disclosed transactions.
• Transparent intent: The filing explicitly states the shares were acquired "with the intent to influence the Issuer," providing clear notice to the market.

Negative

• Potential activism risk: Stated intent to influence could lead to shareholder campaigns or pressure on management, creating near-term uncertainty.
• No detailed plans disclosed: The filing includes no contracts or exhibits describing specific proposals, leaving the market without clarity on next steps.
• Contingency for structural change: Reported willingness to contemplate mergers, management or board changes if shares underperform introduces potential for disruptive actions.

Insights

Financial Analyst

TL;DR 5.7% stake and ~$67.84M invested signal material activist interest with potential to influence company strategy.

The reporting group holds 2,698,618 shares (5.7% of 47,432,721 outstanding). Aggregate disclosed cash deployed across the reported purchases is $67,843,508 ($48,257,894 by the Doma Master Fund, $3,256,514 by Mr. Escudero, and $16,329,100 by the John Templeton Foundation). Recent open-market buys by the Foundation included 433,549 shares at an average of $21.78 (range $21.32–$22.06), 242,000 at $22.77, and 60,000 at $22.65. These details indicate coordinated accumulation and a clear statement of intent to influence, which is material for investors assessing near-term governance pressure and strategic engagement.

Corporate Governance Expert

TL;DR A 5.7% position with explicit intent to influence suggests active engagement risk and possible governance initiatives if performance concerns persist.

The group explicitly states an intent to influence Pacira without seeking full control and reserves the right to contemplate board, management or transactional actions if shares underperform. The filing reports no contracts, side letters, or other arrangements as exhibits, so current engagement appears to be at the disclosure/accumulation stage rather than a formal campaign. For boards and investors, a disclosed >5% stake often triggers shareholder engagement and prepares the ground for proposals or negotiations, though the filing does not commit to any specific governance changes.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

Pacira BioSciences, Inc.

(Name of Issuer)

Common Stock, par value $0.001 per share

(Title of Class of Securities)

695127100

(CUSIP Number)

Pedro Escudero
3350 Virginia Street, Suite 530
Miami, FL, 33133
(305) 549-5081

Nishant P. Mehta, Esq.
1110 Brickell Avenue, Suite 505
Miami, FL, 33131
(305) 676-0924

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

08/01/2025

(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. 695127100

1

Name of reporting person

Doma Perpetual Capital Management 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)

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 0.00
8	Shared Voting Power 2,698,618.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 2,698,618.00

11

Aggregate amount beneficially owned by each reporting person

2,698,618.00

12

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

13

Percent of class represented by amount in Row (11)

5.7 %

14

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13D

CUSIP No. 695127100

1

Name of reporting person

DOMA Perpetual LO Equity 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)

WC

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 2,698,618.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 2,698,618.00

11

Aggregate amount beneficially owned by each reporting person

2,698,618.00

12

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

13

Percent of class represented by amount in Row (11)

5.7 %

14

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13D

CUSIP No. 695127100

1

Name of reporting person

Doma Perpetual Partners 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)

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 0.00
8	Shared Voting Power 2,698,618.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 2,698,618.00

11

Aggregate amount beneficially owned by each reporting person

2,698,618.00

12

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

13

Percent of class represented by amount in Row (11)

5.7 %

14

Type of Reporting Person (See Instructions)

OO

SCHEDULE 13D

CUSIP No. 695127100

1

Name of reporting person

Pedro Escudero

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)

PF, WC

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 159,000.00
8	Shared Voting Power 2,539,618.00
9	Sole Dispositive Power 159,000.00
10	Shared Dispositive Power 2,539,618.00

11

Aggregate amount beneficially owned by each reporting person

2,698,618.00

12

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

13

Percent of class represented by amount in Row (11)

5.7 %

14

Type of Reporting Person (See Instructions)

IN

SCHEDULE 13D

CUSIP No. 695127100

1

Name of reporting person

John Templeton Foundation

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

TENNESSEE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 735,549.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 735,549.00

11

Aggregate amount beneficially owned by each reporting person

735,549.00

12

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

13

Percent of class represented by amount in Row (11)

1.6 %

14

Type of Reporting Person (See Instructions)

CO

Comment for Type of Reporting Person:

John Templeton Foundation beneficially owns Common Shares via its wholly-owned investment holding company, Reliability LLC.

SCHEDULE 13D

CUSIP No. 695127100

1

Name of reporting person

DOMA2 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)

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 0.00
8	Shared Voting Power 2,698,618.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 2,698,618.00

11

Aggregate amount beneficially owned by each reporting person

2,698,618.00

12

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

13

Percent of class represented by amount in Row (11)

5.7 %

14

Type of Reporting Person (See Instructions)

OO

SCHEDULE 13D

Item 1.	Security and Issuer
(a)	Title of Class of Securities: Common Stock, par value $0.001 per share
(b)	Name of Issuer: Pacira BioSciences, Inc.
(c)	Address of Issuer's Principal Executive Offices: 2000 SIERRA POINT PARKWAY, SUITE 900, BRISBANE, CALIFORNIA , 94005.
Item 1 Comment: This Schedule 13D relates to the Common Shares, with par value $0.001 per share (the "Common Shares"), of Pacira BioSciences, Inc. (the "Issuer"). The address of the principal executive offices of the Issuer is 2000 Sierra Point Parkway, Suite 900, Brisbane, California 94005.
Item 2.	Identity and Background
(a)	This statement is filed by the entities and persons listed below: (i) Doma Perpetual Capital Management LLC ("Doma"), as the investment manager for Doma Perpetual Lo Equity Master Fund LP and the John Templeton Foundation ("The John Templeton Foundation"), with respect to the Common Shares beneficially owned by it; (ii) DOMA Perpetual LO Equity Master Fund LP ("Doma Master Fund"), a Cayman Islands exempted limited partnership, with respect to the Common Shares beneficially owned by it; (iii) Doma Perpetual Partners GP LLC ("Doma GP"), as the general partner of the Doma Master Fund, with respect to the Common Shares beneficially owned by it; (iv) DOMA2 LLC ("Doma 2"), as the managing member of Doma GP, with respect to the Common Shares beneficially owned by it; (v) The John Templeton Foundation, as a discretionary investment management client of Doma, with respect to the Common Shares beneficially owned by it; and (vi) Pedro Escudero ("Mr. Escudero"), individually and as Chief Investment Officer of Doma and sole Manager of Doma 2 with respect to the Common Shares beneficially owned by him.
(b)	The address of the principal office of each of Doma, Doma Master Fund, Doma GP, Doma2, and Pedro Escudero is 3350 Virgina Street, Suite 530, Miami, FL 33133. The address of the principal office of The John Templeton Foundation is 300 Conshohocken State Road, Suite 500, West Conshohocken, PA 19428.
(c)	Doma provides investment advisory and management services and acts as the investment manager of Doma Master Fund and The John Templeton Foundation. Doma Master Fund has been formed for the purpose of investing in securities and engaging in all related activities and transactions. Doma GP provides investment management services and serves as the general partner of the Doma Master Fund. Doma 2 is the managing member of Doma GP. The John Templeton Foundation, via its wholly-owned investment holding company, Reliability LLC, invests in securities and engages in all related activities and transactions. Mr. Escudero serves as Chief Executive Officer and Chief Investment Officer of Doma and sole Manager of Doma 2.
(d)	No Reporting Person has, during the last five years, been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors).
(e)	No Reporting Person has, during the last five years, been party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws.
(f)	Mr. Escudero is a citizen of the United States of America.
Item 3.	Source and Amount of Funds or Other Consideration
	The Common Shares purchased by Doma on behalf of the Doma Master Fund were purchased in 2023, 2024, and Q1 of 2025 with working capital. The aggregate amount of Common Shares purchased in these periods was 1,804,069. The aggregate purchase price of the purchases was $48,257,894. The Common Shares purchased by Pedro Escudero in his individual capacity were purchased in Q3 of 2024 with his personal funds. The aggregate amount of Common Shares purchased in this period was 159,000. The aggregate purchase price of the purchases was $3,256,514. The Common Shares purchased by Doma on behalf of The John Templeton Foundation and its wholly-owned investment holding company, Reliability LLC, were purchased on 8/1/2025, 8/4/2025, and 8/5/2025 with working capital. The aggregate amount of Common Shares purchased on those dates was 735,549. The aggregate purchase price of these purchases was $16,329,100.
Item 4.	Purpose of Transaction
	The Reporting Persons purchased Common Shares on 8/1/2025, 8/4/2025, and 8/5/2025 with the intent to influence the Issuer, but without the intention to take full control of it. Doma may acquire more Common Shares. The Reporting Persons are not currently contemplating a merger, reorganization, or other extraordinary transaction, but may contemplate such a transaction if they believe the Common Shares are underperforming. The Reporting Persons are not currently contemplating any changes in the Issuer's management or board composition, but may contemplate such changes if they believe the Common Shares are underperforming. The Reporting Persons are not currently seeking material changes to the Issuer's operations, policies, or corporate structure, but may seek such changes if they believe the Common Shares are underperforming.
Item 5.	Interest in Securities of the Issuer
(a)	The percentages used in this Schedule 13D are calculated based upon 47,432,721 outstanding Common Shares of the Issuer as of 8/5/2025. See rows (11) and (13) of the cover pages to this Schedule 13D for the aggregate number of Common Shares and percentage of the Common Shares beneficially owned by each of the Reporting Persons.
(b)	See rows (7) through (10) of the cover pages to this Schedule 13D for the number of Common Shares as to which each Reporting Person has the sole or shared power to vote or direct the vote and sole or shared power to dispose or to direct the disposition.
(c)	Doma, on behalf of The John Templeton Foundation, entered into open market transactions on 8/1/2025, 8/4/2025, and 8/5/2025 in which it purchased, respectively, 433,549 Common Shares at an average purchase price of $21.78 per share (the purchase prices ranged from $21.32 per share to $22.06 per share), 242,000 Common Shares at a purchase price of $22.77 per share, and 60,000 Common Shares at a purchase price of $22.65 per share.
(d)	No person other than the Reporting Persons is known to have the right to receive, or the power to direct the receipt of dividends from, or proceeds from the sale of, the Common Shares.
(e)	Not applicable.
Item 6.	Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer
	None.
Item 7.	Material to be Filed as Exhibits.
	None.

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.

Doma Perpetual Capital Management LLC

Signature:	Pedro Escudero
Name/Title:	Authorized Signatory
Date:	08/08/2025

DOMA Perpetual LO Equity Master Fund LP

Signature:	Pedro Escudero
Name/Title:	Authorized Signatory
Date:	08/08/2025

Doma Perpetual Partners GP LLC

Signature:	Pedro Escudero
Name/Title:	Authorized Signatory
Date:	08/08/2025

Pedro Escudero

Signature:	Pedro Escudero
Name/Title:	Authorized Signatory
Date:	08/08/2025

John Templeton Foundation

Signature:	Pedro Escudero
Name/Title:	Authorized Signatory
Date:	08/08/2025

DOMA2 LLC

Signature:	Pedro Escudero
Name/Title:	Authorized Signatory
Date:	08/08/2025

FAQ

What stake did Doma and affiliates disclose in Pacira (PCRX)?

They reported beneficial ownership of 2,698,618 shares, representing 5.7% of 47,432,721 outstanding shares as of 8/5/2025.

How much capital was disclosed as invested in these Pacira holdings?

Aggregate disclosed purchases total $67,843,508 ($48,257,894 by Doma Master Fund, $3,256,514 by Pedro Escudero, and $16,329,100 by the John Templeton Foundation).

When did the John Templeton Foundation buy shares and at what prices?

The Foundation acquired 735,549 shares on 8/1, 8/4 and 8/5/2025; one tranche of 433,549 shares had an average price of $21.78 (range $21.32–$22.06), with other tranches at $22.77 and $22.65.

What purpose did the reporting persons state for the transactions?

They stated the purchases were made "with the intent to influence the Issuer" but asserted they do not intend to take full control; they may contemplate transactions or governance changes if shares underperform.

Did the filing include any contracts or formal arrangements?

No; the Schedule 13D states none were filed as exhibits and lists no contracts, arrangements or understandings.