PureTech-linked entities convert Seaport Therapeutics (SPTX) preferred shares to common
Rhea-AI Filing Summary
Seaport Therapeutics, Inc. insider entities affiliated with PureTech converted multiple series of preferred stock into Common Stock in connection with the company’s initial public offering. The Form 4 shows automatic conversions of Series A-1, Series A-2 and Series B Preferred Stock into Common Stock on a stated one-for-3.1407 basis.
PureTech LYT, Inc. is the record holder of all reported securities, with PureTech Health LLC and PureTech Health plc controlling voting and disposition power through their ownership chain. The transactions are coded as conversions of derivative securities, increasing indirect Common Stock holdings rather than reflecting open-market buying or selling.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Buyer: 16,382,534 shares
Net Buy
6 txns
Insider
PureTech Health plc, PureTech LYT, Inc.
Role
10% Owner | 10% Owner
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Conversion | Series A-1 Preferred Stock | 40,000,000 | $0.00 | $0.00 |
| Conversion | Series A-2 Preferred Stock | 8,421,052 | $0.00 | $0.00 |
| Conversion | Series B Preferred Stock | 3,031,578 | $0.00 | $0.00 |
| Conversion | Common Stock | 12,736,014 | $0.00 | $0.00 |
| Conversion | Common Stock | 2,681,265 | $0.00 | $0.00 |
| Conversion | Common Stock | 965,255 | $0.00 | $0.00 |
Holdings After Transaction:
Series A-1 Preferred Stock — 0 shares (Indirect, See footnote);
Series A-2 Preferred Stock — 0 shares (Indirect, See footnote);
Series B Preferred Stock — 0 shares (Indirect, See footnote);
Common Stock — 16,685,013 shares (Indirect, See footnote)
Footnotes (2)
- F1. Each share of Series A-1, Series A-2 and Series B Preferred Stock (collectively, the "Preferred Stock") was convertible into Common Stock of the Issuer on a one-for-3.1407 basis at the option of the holder, and automatically converted upon the closing of the Issuer's initial public offering without payment of further consideration. The Preferred Stock had no expiration date.
- F2. PureTech LYT, Inc. is the record holder of all of the securities reported in this Form 4. PureTech Health LLC is the sole owner of PureTech LYT, Inc. PureTech Health plc is the sole member of PureTech Health LLC, and has the power to direct the voting and disposition of securities held by PureTech LYT, Inc. and PureTech Health LLC.
Key Figures
Series A-1 Preferred converted: 40,000,000 shares
Series A-2 Preferred converted: 8,421,052 shares
Series B Preferred converted: 3,031,578 shares
+4 more
7 metrics
Series A-1 Preferred converted
40,000,000 shares
Derivative shares converted into Seaport Therapeutics Common Stock
Series A-2 Preferred converted
8,421,052 shares
Derivative shares converted into Seaport Therapeutics Common Stock
Series B Preferred converted
3,031,578 shares
Derivative shares converted into Seaport Therapeutics Common Stock
Common from Series A-1
12,736,014 shares
Underlying Common Stock received upon A-1 conversion
Common from Series A-2
2,681,265 shares
Underlying Common Stock received upon A-2 conversion
Common from Series B
965,255 shares
Underlying Common Stock received upon B conversion
Total derivative shares converted
51,452,630 shares
Aggregate exerciseShares across all preferred series
Key Terms
Conversion of derivative security, Preferred Stock, initial public offering, ten percent owner, +1 more
5 terms
Conversion of derivative security financial
"transaction_code_description: Conversion of derivative security"
Preferred Stock financial
"Each share of Series A-1, Series A-2 and Series B Preferred Stock"
Preferred stock is a type of ownership in a company that typically offers investors higher and more consistent dividend payments than common stock. Unlike regular shares, preferred stock usually doesn’t come with voting rights but provides a priority claim on the company’s assets and profits, making it a more stable and predictable investment option. This makes preferred stock attractive to those seeking steady income with lower risk.
initial public offering financial
"automatically converted upon the closing of the Issuer's initial public 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.
ten percent owner financial
"is_ten_percent_owner: 1 for each reporting person"
indirect ownership financial
"ownership_type: indirect and nature_of_ownership: See footnote"
FAQ
What insider transaction did PureTech report in Seaport Therapeutics (SPTX) Form 4?
The Form 4 reports automatic conversions of multiple Seaport Therapeutics preferred stock series into Common Stock. These are classified as derivative security conversions, not open-market purchases or sales, and occur in connection with the company’s initial public offering.
Does this Seaport Therapeutics Form 4 show any open-market buying or selling?
No open-market buying or selling is reported. All transactions use code C, described as conversion of derivative securities, reflecting preferred stock automatically converting into Common Stock tied to Seaport Therapeutics’ initial public offering terms.
AI-generated analysis. How Rhea-AI works. Not financial advice.
