SCYNEXIS, Inc. Schedule 13G shows CVI Investments, Inc. and its investment manager Heights Capital Management, Inc. report beneficial ownership of 3,008,874 shares of SCYNEXIS common stock, representing 6.7% of the class. The reported shares consist of warrants exercisable subject to 4.99% and 9.99% ownership caps. Shares outstanding were 41,924,941 as of August 8, 2025.
Positive
None.
Negative
None.
Insights
Large warrant-based stake reported by CVI/Heights equals 6.7% of SCYNEXIS.
The filing states CVI Investments holds 3,008,874 shares via warrants and reports 6.7% ownership based on 41,924,941 shares outstanding as of August 8, 2025. The warrants include exercise limitations tied to 4.99% and 9.99% aggregation thresholds.
Voting and dispositive power is shared through Heights Capital as investment manager; the filing disclaims direct beneficial ownership aside from pecuniary interest. Subsequent filings would show if warrants are exercised or converted into open holdings.
Filing clarifies manager authority and includes a Limited Power of Attorney.
The joint filing attributes shared voting and dispositive power to Heights Capital Management, which serves as CVI's investment manager and authorized agent per an attached Limited Power of Attorney (Exhibit 24). The joint filing agreement is included as Exhibit 99.
Legal qualifiers: exercise of warrants is subject to aggregation limits (4.99% and 9.99%) as stated; any future exercises may be constrained by those thresholds.
Key Figures
Reported shares beneficially owned:3,008,874 sharesPercent of class:6.7%Shares outstanding:41,924,941 shares+2 more
5 metrics
Reported shares beneficially owned3,008,874 sharesAmount reported by CVI Investments / Heights Capital
Percent of class6.7%Percent reported based on outstanding shares
Shares outstanding41,924,941 sharesShares outstanding as of August 8, 2025
Exercise ownership caps4.99% and 9.99%Warrant exercise limits described in the filing
CUSIP811292200SCYNEXIS common stock CUSIP reported on cover
Key Terms
Warrants, Limited Power of Attorney, Beneficial ownership
3 terms
Warrantsfinancial
"The number of Shares reported as beneficially owned consists of Shares issuable upon the exercise of warrants"
Warrants are special documents that give you the right to buy a company's stock at a set price before a certain date. They are often used as a way for companies to attract investors or raise money, and their value can increase if the company's stock price goes up.
Limited Power of Attorneylegal
"Heights Capital Management, Inc. serves as authorized agent of CVI Investments, Inc. pursuant to a Limited Power of Attorney"
Beneficial ownershipregulatory
"Amount beneficially owned: The information required by this Item 4(a) is set forth in Row 9"
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.
How many SCYNEXIS (SCYX) shares does CVI Investments report owning?
CVI Investments reports beneficial ownership of 3,008,874 shares. These reported shares arise from warrants and are listed in Row 9 of the cover page.
What percentage of SCYNEXIS does the reported stake represent?
The filing states the position represents 6.7% of the class. This percentage is calculated using 41,924,941 shares outstanding as of August 8, 2025.
Are the reported shares immediately exercisable or subject to limits?
The reported shares consist of warrants that are exercisable only to the extent they do not cause ownership to exceed 4.99% or 9.99%, per the filing's exercise limitations.
Who has voting or dispositive power over these shares?
Heights Capital Management, Inc. is the investment manager and may exercise shared voting and dispositive power over the shares reported for CVI Investments, as stated in the filing.
Does the filing include supporting documents for authority?
Yes; the filing references a Limited Power of Attorney (Exhibit 24) and a Joint Filing Agreement (Exhibit 99) attached to the filing.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
SCYNEXIS, Inc.
(Name of Issuer)
Common Stock, $0.001 par value per share
(Title of Class of Securities)
811292200
(CUSIP Number)
09/09/2025
(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)
schemaVersion:
SCHEDULE 13G
CUSIP Number(s):
811292200
1
Names of Reporting Persons
CVI Investments, Inc.
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
3,008,874.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
3,008,874.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
3,008,874.00
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)
6.7 %
12
Type of Reporting Person (See Instructions)
CO
Comment for Type of Reporting Person: With respect to Row 6 and Row 8 above, Heights Capital Management, Inc. is the investment manager to CVI Investments, Inc. and as such may exercise voting and dispositive power over the shares reported as beneficially owned by CVI Investments, Inc. herein.
SCHEDULE 13G
CUSIP Number(s):
811292200
1
Names of Reporting Persons
Heights Capital Management, Inc.
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
3,008,874.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
3,008,874.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
3,008,874.00
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)
6.7 %
12
Type of Reporting Person (See Instructions)
CO
Comment for Type of Reporting Person: With respect to Row 6 and Row 8 above, Heights Capital Management, Inc. is the investment manager to CVI Investments, Inc. and as such may exercise voting and dispositive power over the shares reported as beneficially owned by CVI Investments, Inc. herein.
SCHEDULE 13G
Item 1.
(a)
Name of issuer:
SCYNEXIS, Inc.
(b)
Address of issuer's principal executive offices:
1 Evertrust Plaza, 13th Floor, Jersey City, NJ 07302-6548
Item 2.
(a)
Name of person filing:
This statement is filed by the entities listed below, who are collectively referred to herein as "Reporting Persons," with respect to the shares of common stock of SCYNEXIS, Inc. (the "Company"), $0.001 par value per share (the "Shares").
(i) CVI Investments, Inc.
(ii) Heights Capital Management, Inc.
(b)
Address or principal business office or, if none, residence:
The address of the principal business office of CVI Investments, Inc. is:
P.O. Box 309GT
Ugland House
South Church Street
George Town
Grand Cayman
KY1-1104
Cayman Islands
The address of the principal business office of Heights Capital Management, Inc. is:
101 California Street, Suite 3250
San Francisco, California 94111
(c)
Citizenship:
Citizenship is set forth in Row 4 of the cover page for each Reporting Person hereto and is incorporated herein by reference for each such Reporting Person.
(d)
Title of class of securities:
Common Stock, $0.001 par value per share
(e)
CUSIP Number(s):
811292200
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:
The information required by this Item 4(a) is set forth in Row 9 of the cover page for each Reporting Person hereto and is incorporated herein by reference for each such Reporting Person.
The number of Shares reported as beneficially owned consists of Shares issuable upon the exercise of warrants to purchase Shares (the "Warrants"). A portion of the Warrants are not exercisable to the extent that the total number of Shares then beneficially owned by a Reporting Person and its affiliates and any other persons whose beneficial ownership of Shares would be aggregated with such Reporting Person for purposes of Section 13(d) of the Exchange Act, would exceed 4.99%, and the remainder of the Warrants are not exercisable to the extent that the total number of Shares then beneficially owned by a Reporting Person and its affiliates and any other persons whose beneficial ownership of Shares would be aggregated with such Reporting Person for purposes of Section 13(d) of the Exchange Act, would exceed 9.99%.
The Company's Quarterly Report on Form 10-Q, filed on August 13, 2025, indicates there were 41,924,941 Shares outstanding as of August 8, 2025.
(b)
Percent of class:
6.7 %
(c)
Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
The information required by this Item 4(c)(i) is set forth in Row 5 of the cover page for each Reporting Person hereto and is incorporated herein by reference for each such Reporting Person.
(ii) Shared power to vote or to direct the vote:
The information required by this Item 4(c)(ii) is set forth in Row 6 of the cover page for each Reporting Person hereto and is incorporated herein by reference for each such Reporting Person.
Heights Capital Management, Inc., which serves as the investment manager to CVI Investments, Inc., may be deemed to be the beneficial owner of all Shares owned by CVI Investments, Inc. Each of the Reporting Persons hereby disclaims any beneficial ownership of any such Shares, except for their pecuniary interest therein.
(iii) Sole power to dispose or to direct the disposition of:
The information required by this Item 4(c)(iii) is set forth in Row 7 of the cover page for each Reporting Person hereto and is incorporated herein by reference for each such Reporting Person.
(iv) Shared power to dispose or to direct the disposition of:
The information required by this Item 4(c)(iv) is set forth in Row 8 of the cover page for each Reporting Person hereto and is incorporated herein by reference for each such Reporting Person.
Heights Capital Management, Inc., which serves as the investment manager to CVI Investments, Inc., may be deemed to be the beneficial owner of all Shares owned by CVI Investments, Inc. Each of the Reporting Persons hereby disclaims any beneficial ownership of any such Shares, except for their pecuniary interest therein.
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.
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.
CVI Investments, Inc.
Signature:
/s/ Sarah Travis
Name/Title:
Sarah Travis, Assistant General Counsel and Assistant Secretary of Heights Capital Management, Inc.
Date:
04/28/2026
Heights Capital Management, Inc.
Signature:
/s/ Sarah Travis
Name/Title:
Sarah Travis, Assistant General Counsel and Assistant Secretary
Date:
04/28/2026
Comments accompanying signature: Heights Capital Management, Inc. serves as authorized agent of CVI Investments, Inc. pursuant to a Limited Power of Attorney, a copy of which is attached as Exhibit 24 hereto.
Exhibit Information
EXHIBIT INDEX
EXHIBIT DESCRIPTION
________ ________
24 Limited Power of Attorney
99 Joint Filing Agreement
