Rallybio Corporation received an updated ownership report showing Viking Global’s group holding a significant passive stake. The Viking entities report beneficial ownership of 4,222,969 shares of Rallybio common stock, equal to 9.99% of the class, including shares underlying pre-funded warrants.
The warrants allow purchase of 3,333,388 shares at an exercise price of $0.0001 per share, but a 9.99% “Blocker” limits how many can be exercised at any time, with 28,192 warrant shares currently counted in beneficial ownership. Viking certifies the securities are not held for the purpose of changing or influencing control of Rallybio.
Positive
None.
Negative
None.
Insights
Viking discloses a capped 9.99% passive stake in Rallybio.
Viking Global and affiliated entities report beneficial ownership of 4,222,969 Rallybio common shares, or 9.99% of the class. This includes 4,194,777 shares held directly and 28,192 shares currently issuable from pre-funded warrants, all aggregated under Rule 13d-3.
The warrants cover 3,333,388 shares at an exercise price of $0.0001 per share, but a contractual “Blocker” prevents exercises that would push ownership above 9.99%. The blocker can be adjusted up to 19.99% after a 61-day notice period, which could expand effective exposure if used.
The filing is a Schedule 13G/A Amendment No. 3, with a certification that holdings are not for changing or influencing control, indicating a passive reporting posture. Actual impact on Rallybio’s trading and governance will depend on future exercises and any later changes in filing status.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(Amendment No. 3)
Rallybio Corporation
(Name of Issuer)
Common Stock, par value $0.0001 per share
(Title of Class of Securities)
75120L100
(CUSIP Number)
12/31/2025
(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)
SCHEDULE 13G
CUSIP No.
75120L100
1
Names of Reporting Persons
VIKING GLOBAL INVESTORS LP
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
4,222,969.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
4,222,969.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
4,222,969.00
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)
PN
Comment for Type of Reporting Person: See Item 4
SCHEDULE 13G
CUSIP No.
75120L100
1
Names of Reporting Persons
Viking Global Opportunities Parent 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
4,222,969.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
4,222,969.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
4,222,969.00
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
Comment for Type of Reporting Person: See Item 4
SCHEDULE 13G
CUSIP No.
75120L100
1
Names of Reporting Persons
Viking Global Opportunities 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
4,222,969.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
4,222,969.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
4,222,969.00
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
Comment for Type of Reporting Person: See Item 4
SCHEDULE 13G
CUSIP No.
75120L100
1
Names of Reporting Persons
Viking Global Opportunities Portfolio 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
4,222,969.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
4,222,969.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
4,222,969.00
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
Comment for Type of Reporting Person: See Item 4
SCHEDULE 13G
CUSIP No.
75120L100
1
Names of Reporting Persons
Viking Global Opportunities Illiquid Investments Sub-Master LP
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
CAYMAN ISLANDS
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
4,222,969.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
4,222,969.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
4,222,969.00
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)
PN
Comment for Type of Reporting Person: See Item 4
SCHEDULE 13G
CUSIP No.
75120L100
1
Names of Reporting Persons
HALVORSEN OLE ANDREAS
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
NORWAY
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
4,222,969.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
4,222,969.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
4,222,969.00
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
Comment for Type of Reporting Person: See Item 4
SCHEDULE 13G
CUSIP No.
75120L100
1
Names of Reporting Persons
Ott David C.
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
4,222,969.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
4,222,969.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
4,222,969.00
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
Comment for Type of Reporting Person: See Item 4
SCHEDULE 13G
CUSIP No.
75120L100
1
Names of Reporting Persons
Shabet Rose Sharon
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
4,222,969.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
4,222,969.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
4,222,969.00
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
Comment for Type of Reporting Person: See Item 4
SCHEDULE 13G
Item 1.
(a)
Name of issuer:
Rallybio Corporation
(b)
Address of issuer's principal executive offices:
234 Church Street, Suite 1020, New Haven, Connecticut, 06510
Item 2.
(a)
Name of person filing:
Viking Global Investors LP ("VGI"),
Viking Global Opportunities Parent GP LLC ("Opportunities Parent"),
Viking Global Opportunities GP LLC ("Opportunities GP"),
Viking Global Opportunities Portfolio GP LLC ("Opportunities Portfolio GP"),
Viking Global Opportunities Illiquid Investments Sub-Master LP ("VGOP"),
O. Andreas Halvorsen, David C. Ott and Rose S. Shabet (collectively, the "Reporting Persons")
(b)
Address or principal business office or, if none, residence:
The business address of each of the Reporting Persons is: 600 Washington Boulevard, Floor 11, Stamford, Connecticut 06901.
(c)
Citizenship:
VGI is a Delaware limited partnership; Opportunities Parent, Opportunities GP and Opportunities Portfolio GP are Delaware limited liability companies; VGOP is a Cayman Islands exempted limited partnership; O. Andreas Halvorsen is a citizen of Norway; and David C. Ott and Rose S. Shabet are citizens of the United States.
(d)
Title of class of securities:
Common Stock, par value $0.0001 per share
(e)
CUSIP No.:
75120L100
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:
This Statement on Schedule 13G relates to shares of Common Stock and pre-funded warrants to purchase shares of Common Stock with an exercise price of $0.0001 per share (the "Warrants") held directly by VGOP. VGOP directly owns 4,194,777 shares of Common Stock and Warrants with the right to purchase 3,333,388 shares of Common Stock. However, the terms of the Warrants provide that no holder of Warrants shall have the right to exercise any portion of the Warrants to the extent that, after giving effect to such issuance after exercise, such holder of Warrants (together with its affiliates, any "group" or any other persons whose beneficial ownership could be aggregated with the holders) would beneficially own more than 9.99% of the number of shares of Common Stock outstanding immediately following exercise (the "Blocker"). Any holder of Warrants, upon notice to the Issuer, may increase or decrease the Blocker, subject to a maximum of 19.99%, but any such increase or decrease will not be effective until the 61st day after such notice is delivered to the Issuer. Accordingly, the amount of shares of Common Stock reported as beneficially owned by the Reporting Persons set forth herein excludes shares of Common Stock that the Reporting Persons do not currently have the right to purchase upon exercise of the Warrants held directly by VGOP due to the Blocker.
VGI: 4,222,969
VGI provides managerial services to VGOP. VGI has the authority to dispose of and vote the shares of Common Stock that VGOP directly owns or has the right to purchase upon exercise of the Warrants. VGI does not directly own any shares of Common Stock or Warrants.
Based on Rule 13d-3 under the Securities Exchange Act of 1934, as amended (the "Act"), VGI may be deemed to beneficially own the shares of Common Stock that VGOP directly owns or has the right to purchase upon exercise of the Warrants.
VGI beneficially owns 4,222,969 shares of Common Stock consisting of 4,194,777 shares of Common Stock directly owned by VGOP and 28,192 shares of Common Stock beneficially owned by VGOP, which VGOP has the right to purchase upon exercise of the Warrants, subject to the Blocker.
Opportunities Parent: 4,222,969
Opportunities Parent is the sole member of Opportunities GP, which has the authority to dispose of and vote the shares of Common Stock controlled by Opportunities Portfolio GP, which consists of the shares of Common Stock that VGOP directly owns or has the right to purchase upon exercise of the Warrants. Opportunities Parent does not directly own any shares of Common Stock or Warrants.
Based on Rule 13d-3 of the Act, Opportunities Parent may be deemed to beneficially own the shares of Common Stock that VGOP directly owns or has the right to purchase upon exercise of the Warrants.
Opportunities GP: 4,222,969
Opportunities GP serves as the sole member of Opportunities Portfolio GP and has the authority to dispose of and vote the shares of Common Stock controlled by Opportunities Portfolio GP, which consists of the shares of Common Stock that VGOP directly owns or has the right to purchase upon exercise of the Warrants. Opportunities GP does not directly own any shares of Common Stock or Warrants.
Based on Rule 13d-3 of the Act, Opportunities GP may be deemed to beneficially own the shares of Common Stock that VGOP directly owns or has the right to purchase upon exercise of the Warrants.
Opportunities Portfolio GP: 4,222,969
Opportunities Portfolio GP serves as the general partner of VGOP and has the authority to dispose of and vote the shares of Common Stock that VGOP directly owns or has the right to purchase upon exercise of the Warrants. Opportunities Portfolio GP does not directly own any shares of Common Stock or Warrants.
Based on Rule 13d-3 of the Act, Opportunities Portfolio GP may be deemed to beneficially own the shares of Common Stock that VGOP directly owns or has the right to purchase upon exercise of the Warrants.
VGOP: 4,222,969
VGOP has the authority to dispose of and vote the shares of Common Stock that it directly owns or has the right to purchase upon exercise of the Warrants directly owned by it, subject to the Blocker, which power may be exercised by its general partner, Opportunities Portfolio GP, and by VGI, an affiliate of Opportunities Portfolio GP, which provides managerial services to VGOP.
Viking Global Opportunities LP (a Delaware limited partnership) and Viking Global Opportunities III LP (a Cayman Islands exempted limited partnership), through its investment in Viking Global Opportunities Intermediate LP (a Cayman Islands exempted limited partnership), invest substantially all of their assets in Viking Global Opportunities Master LP (a Cayman Islands exempted limited partnership), which in turn invests through VGOP.
O. Andreas Halvorsen, David C. Ott and Rose S. Shabet: 4,222,969
Mr. Halvorsen, Mr. Ott and Ms. Shabet, as Executive Committee Members of Viking Global Partners LLC (general partner of VGI) and Opportunities Parent, have shared authority to dispose of and vote the shares of Common Stock beneficially owned by VGI and Opportunities Parent. None of Mr. Halvorsen, Mr. Ott and Ms. Shabet directly owns any shares of Common Stock or Warrants.
Based on Rule 13d-3 of the Act, each may be deemed to beneficially own the shares of Common Stock that VGOP directly owns or has the right to purchase upon exercise of the Warrants.
Mr. Halvorsen, Mr. Ott and Ms. Shabet each beneficially own 4,222,969 shares of Common Stock consisting of 4,194,777 shares of Common Stock directly owned by VGOP and 28,192 shares of Common Stock beneficially owned by VGOP, which VGOP has the right to purchase upon exercise of the Warrants, subject to the Blocker.
(b)
Percent of class:
The percentages set forth herein are based on (i) 42,243,774 shares of Common Stock outstanding as of December 30, 2025, as reported by the Issuer in its proxy statement on Schedule 14A, filed with the U.S. Securities and Exchange Commission (the "Commission") on January 2, 2026, and (ii) 28,192 shares of Common Stock that the Reporting Persons currently have the right to purchase upon exercise of the Warrants, subject to the Blocker.
VGI: 9.99%
Opportunities Parent: 9.99%
Opportunities GP: 9.99%
Opportunities Portfolio GP: 9.99%
VGOP: 9.99%
O. Andreas Halvorsen, David C. Ott and Rose S. Shabet: 9.99%
(c)
Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
VGI: 0
Opportunities Parent: 0
Opportunities GP: 0
Opportunities Portfolio GP: 0
VGOP: 0
O. Andreas Halvorsen, David C. Ott and Rose S. Shabet: 0
(ii) Shared power to vote or to direct the vote:
VGI: 4,222,969
Opportunities Parent: 4,222,969
Opportunities GP: 4,222,969
Opportunities Portfolio GP: 4,222,969
VGOP: 4,222,969
O. Andreas Halvorsen, David C. Ott and Rose S. Shabet: 4,222,969
(iii) Sole power to dispose or to direct the disposition of:
VGI: 0
Opportunities Parent: 0
Opportunities GP: 0
Opportunities Portfolio GP: 0
VGOP: 0
O. Andreas Halvorsen, David C. Ott and Rose S. Shabet: 0
(iv) Shared power to dispose or to direct the disposition of:
VGI: 4,222,969
Opportunities Parent: 4,222,969
Opportunities GP: 4,222,969
Opportunities Portfolio GP: 4,222,969
VGOP: 4,222,969
O. Andreas Halvorsen, David C. Ott and Rose S. Shabet: 4,222,969
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.
If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required.
The response to Item 4 is incorporated by reference herein.
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.
VIKING GLOBAL INVESTORS LP
Signature:
/s/ Scott M. Hendler
Name/Title:
Scott M. Hendler on behalf of VIKING GLOBAL INVESTORS LP (1)(2)(3)
Date:
02/17/2026
Viking Global Opportunities Parent GP LLC
Signature:
/s/ Scott M. Hendler
Name/Title:
Scott M. Hendler on behalf of Viking Global Opportunities Parent GP LLC (1)(2)(3)
Date:
02/17/2026
Viking Global Opportunities GP LLC
Signature:
/s/ Scott M. Hendler
Name/Title:
Scott M. Hendler on behalf of Viking Global Opportunities GP LLC (1)(2)(3)
Date:
02/17/2026
Viking Global Opportunities Portfolio GP LLC
Signature:
/s/ Scott M. Hendler
Name/Title:
Scott M. Hendler on behalf of Viking Global Opportunities Portfolio GP LLC (1)(2)(3)
Date:
02/17/2026
Viking Global Opportunities Illiquid Investments Sub-Master LP
Signature:
/s/ Scott M. Hendler
Name/Title:
Scott M. Hendler on behalf of Viking Global Opportunities Illiquid Investments Sub-Master LP (1)(2)(3)
Date:
02/17/2026
HALVORSEN OLE ANDREAS
Signature:
/s/ Scott M. Hendler
Name/Title:
Scott M. Hendler on behalf of O. Andreas Halvorsen (1)
Date:
02/17/2026
Ott David C.
Signature:
/s/ Scott M. Hendler
Name/Title:
Scott M. Hendler on behalf of David C. Ott (2)
Date:
02/17/2026
Shabet Rose Sharon
Signature:
/s/ Scott M. Hendler
Name/Title:
Scott M. Hendler on behalf of Rose S. Shabet (3)
Date:
02/17/2026
Comments accompanying signature: (1) Scott M. Hendler is signing on behalf of O. Andreas Halvorsen, individually and as an Executive Committee Member of VIKING GLOBAL PARTNERS LLC, on behalf of VIKING GLOBAL INVESTORS LP, and as an Executive Committee Member of VIKING GLOBAL OPPORTUNITIES PARENT GP LLC, on behalf of itself and VIKING GLOBAL OPPORTUNITIES GP LLC, VIKING GLOBAL OPPORTUNITIES PORTFOLIO GP LLC, and VIKING GLOBAL OPPORTUNITIES ILLIQUID INVESTMENTS SUB-MASTER LP, pursuant to an authorization and designation letter dated February 9, 2021, which was previously filed with the Commission as an exhibit to a Form 13G filed by Mr. Halvorsen on February 12, 2021 (SEC File No. 005-49737).
(2) Scott M. Hendler is signing on behalf of David C. Ott, individually and as an Executive Committee Member of VIKING GLOBAL PARTNERS LLC, on behalf of VIKING GLOBAL INVESTORS LP, and as an Executive Committee Member of VIKING GLOBAL OPPORTUNITIES PARENT GP LLC, on behalf of itself and VIKING GLOBAL OPPORTUNITIES GP LLC, VIKING GLOBAL OPPORTUNITIES PORTFOLIO GP LLC, and VIKING GLOBAL OPPORTUNITIES ILLIQUID INVESTMENTS SUB-MASTER LP, pursuant to an authorization and designation letter dated February 9, 2021, which was previously filed with the Commission as an exhibit to a Form 13G filed by Mr. Ott on February 12, 2021 (SEC File No. 005-49737).
(3) Scott M. Hendler is signing on behalf of Rose S. Shabet, individually and as an Executive Committee Member of VIKING GLOBAL PARTNERS LLC, on behalf of VIKING GLOBAL INVESTORS LP, and as an Executive Committee Member of VIKING GLOBAL OPPORTUNITIES PARENT GP LLC, on behalf of itself and VIKING GLOBAL OPPORTUNITIES GP LLC, VIKING GLOBAL OPPORTUNITIES PORTFOLIO GP LLC, and VIKING GLOBAL OPPORTUNITIES ILLIQUID INVESTMENTS SUB-MASTER LP, pursuant to an authorization and designation letter dated February 9, 2021, which was previously filed with the Commission as an exhibit to a Form 13G filed by Ms. Shabet on February 12, 2021 (SEC File No. 005-49737).
What ownership stake in Rallybio (RLYB) does Viking report in this Schedule 13G/A?
Viking and its affiliated entities report beneficial ownership of 4,222,969 Rallybio common shares, representing 9.99% of the outstanding class. This total includes both shares held directly and a portion of shares currently issuable under pre-funded warrants, subject to a contractual blocker.
How many Rallybio shares does Viking hold directly versus through warrants?
Viking’s group reports 4,194,777 Rallybio shares held directly and 28,192 shares counted from pre-funded warrants. The warrants cover 3,333,388 shares in total, but most are excluded from current beneficial ownership because of a 9.99% ownership blocker in the warrant terms.
What is the 9.99% ownership blocker mentioned in the Rallybio (RLYB) filing?
The warrants include a 9.99% “Blocker” that prevents Viking and related holders from exercising warrants if doing so would push their beneficial ownership above 9.99%. This cap manages reported ownership and can be increased or decreased, up to 19.99%, with 61 days’ advance notice.
How was Viking’s 9.99% Rallybio ownership percentage calculated?
The 9.99% stake is based on 42,243,774 Rallybio shares outstanding as of December 30, 2025, plus 28,192 shares Viking can currently purchase via warrants. That combined base is disclosed in Rallybio’s Schedule 14A proxy statement, which the ownership calculation explicitly references.
Does Viking indicate any intent to control Rallybio Corporation in this 13G/A?
No. The signatories certify the securities were not acquired and are not held for the purpose of changing or influencing control of Rallybio. The statement is filed on Schedule 13G/A, which is typically used for passive holdings rather than activist or control-oriented positions.
Who are the reporting persons in Viking’s Rallybio (RLYB) Schedule 13G/A Amendment No. 3?
The filing lists multiple reporting persons, including Viking Global Investors LP, several Viking Global Opportunities entities, Viking Global Opportunities Illiquid Investments Sub-Master LP, and individuals O. Andreas Halvorsen, David C. Ott, and Rose S. Shabet, all sharing voting and dispositive power over the reported shares.
