SCYNEXIS INC reports a passive ownership filing showing 7,608,695 shares (9.6% of the class) held by Squadron Master Fund LP and related reporting persons as of 03/31/2026. The statement lists shared voting and dispositive power for the reported holders and cites 79,442,633 shares outstanding as the basis for the percentage calculation.
Positive
None.
Negative
None.
Insights
Large passive stake disclosed by an investment fund and adviser.
The filing reports 7,608,695 shares held by Squadron Master Fund LP and associated reporting persons, representing 9.6% of common stock based on 79,442,633 shares outstanding as of 03/31/2026. The positions are described with shared voting and dispositive power.
As a Schedule 13G, this is a passive disclosure rather than an active acquisition statement; subsequent Form 13D or Form 4 filings could follow if voting intentions change or transactions occur.
Shared control via adviser/partners is disclosed; disclaimers temper beneficial-owner attribution.
The filing notes Squadron Capital Management, LLC serves as adviser to the Funds and that partners Matthew Sesterhenn and William Blank "may be deemed" to have beneficial ownership, while expressly disclaiming beneficial ownership under Rule 13d-4.
Governance teams should note the shared voting/dispositive power entries and watch for any change in intent or control that would trigger different SEC reporting obligations.
Key Figures
Shares held:7,608,695 sharesPercent of class:9.6%Shares outstanding:79,442,633 shares
3 metrics
Shares held7,608,695 sharesheld by Squadron Master Fund LP and related reporting persons
Percent of class9.6%calculated using 79,442,633 shares outstanding
Shares outstanding79,442,633 sharesbasis for percentage calculation as stated in the filing
Key Terms
Schedule 13G, Beneficial owner, Shared dispositive power
3 terms
Schedule 13Gregulatory
"Item 1. | (a) | Name of issuer: SCYNEXIS INC"
A Schedule 13G is a formal document that investors file with the government when they acquire a large ownership stake in a company, usually for investment purposes rather than control. It helps keep the public informed about who owns significant parts of a company's shares, which can influence how the company is managed and how investors make decisions. Filing this schedule is important for transparency and understanding the ownership landscape of publicly traded companies.
A beneficial owner is the person who ultimately owns or controls a financial asset or property, even if their name isn't directly on official documents. Think of it like someone who secretly holds the keys to a safe deposit box—others may appear to have access, but the true owner is the one who benefits from what's inside. Identifying beneficial owners helps ensure transparency and prevent illegal activities like money laundering or fraud.
Shared dispositive powerregulatory
"Item 4. | (iv) Shared power to dispose or to direct the disposition of: 7,608,695 shares"
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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
SCYNEXIS INC
(Name of Issuer)
Common Stock, par value $0.001 per share
(Title of Class of Securities)
811292200
(CUSIP Number)
03/31/2026
(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
Squadron Master Fund 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
7,608,695.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
7,608,695.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
7,608,695.00
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)
9.6 %
12
Type of Reporting Person (See Instructions)
PN
SCHEDULE 13G
CUSIP Number(s):
811292200
1
Names of Reporting Persons
Squadron Capital Management 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
7,608,695.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
7,608,695.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
7,608,695.00
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)
9.6 %
12
Type of Reporting Person (See Instructions)
IA, HC
SCHEDULE 13G
CUSIP Number(s):
811292200
1
Names of Reporting Persons
Matthew Sesterhenn
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
7,608,695.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
7,608,695.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
7,608,695.00
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)
9.6 %
12
Type of Reporting Person (See Instructions)
HC, IN
SCHEDULE 13G
CUSIP Number(s):
811292200
1
Names of Reporting Persons
William Blank
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
7,608,695.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
7,608,695.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
7,608,695.00
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)
9.6 %
12
Type of Reporting Person (See Instructions)
HC, IN
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, NEW JERSEY, 07302-6548.
Item 2.
(a)
Name of person filing:
Squadron Master Fund LP
Squadron Capital Management, LLC
Matthew Sesterhenn
William Blank
(b)
Address or principal business office or, if none, residence:
Squadron Master Fund LP
c/o Squadron Capital Management, LLC
999 Oakmont Plaza Drive, Suite 600
Westmont, IL 60559
Squadron Capital Management, LLC
999 Oakmont Plaza Drive, Suite 600
Westmont, IL 60559
Matthew Sesterhenn
c/o Squadron Capital Management, LLC
999 Oakmont Plaza Drive, Suite 600
Westmont, IL 60559
William Blank
c/o Squadron Capital Management, LLC
999 Oakmont Plaza Drive, Suite 600
Westmont, IL 60559
(c)
Citizenship:
Squadron Master Fund LP - Delaware
Squadron Capital Management, LLC - Delaware
Matthew Sesterhenn - United States
William Blank - United States
(d)
Title of class of securities:
Common Stock, par value $0.001 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:
Squadron Capital Management, LLC is an investment adviser that is registered as an Exempt Reporting Adviser with the Securities and Exchange Commission. Squadron Capital Management, LLC, which serves as investment adviser to private funds, including but not limited to Squadron Master Fund LP (collectively, the "Funds"), may be deemed to be the beneficial owner of all shares of Common Stock held by the Funds. Mr. Sesterhenn and Mr. Blank, as Partners of Squadron Capital Management, LLC, with the power to exercise investment and voting discretion, may be deemed to be the beneficial owner of all shares of Common Stock held by the Funds. Pursuant to Rule 13d-4 under the Securities Exchange Act of 1934, as amended, Squadron Capital Management, LLC and Mr. Sesterhenn and Mr. Blank expressly disclaim beneficial ownership over any of the securities reported in this statement, and the filing of this statement shall not be construed as an admission that Squadron Capital Management, LLC or Mr. Sesterhenn and Mr. Blank are the beneficial owner of any of the securities reported herein.
Squadron Master Fund LP - 7,608,695 shares
Squadron Capital Management, LLC - 7,608,695 shares
Matthew Sesterhenn - 7,608,695 shares
William Blank - 7,608,695 shares
(b)
Percent of class:
Ownership percentage is based on 79,442,633 shares of common stock outstanding, par value $0.001 per share.
Squadron Master Fund LP - 9.6%
Squadron Capital Management, LLC - 9.6%
Matthew Sesterhenn - 9.6%
William Blank - 9.6%
(c)
Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
Squadron Master Fund LP - 0
Squadron Capital Management, LLC - 0
Matthew Sesterhenn - 0
William Blank - 0
(ii) Shared power to vote or to direct the vote:
Squadron Master Fund LP - 7,608,695 shares
Squadron Capital Management, LLC - 7,608,695 shares
Matthew Sesterhenn - 7,608,695 shares
William Blank - 7,608,695 shares
(iii) Sole power to dispose or to direct the disposition of:
Squadron Master Fund LP - 0
Squadron Capital Management, LLC - 0
Matthew Sesterhenn - 0
William Blank - 0
(iv) Shared power to dispose or to direct the disposition of:
Squadron Master Fund LP - 7,608,695 shares
Squadron Capital Management, LLC - 7,608,695 shares
Matthew Sesterhenn - 7,608,695 shares
William Blank - 7,608,695 shares
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 Funds have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the shares of Common Stock covered by this Statement.
Item 7.
Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
If a parent holding company has filed this schedule, pursuant to Rule 13d-1(b)(ii)(G), so indicate under Item 3(g) and attach an exhibit stating the identity and the Item 3 classification of the relevant subsidiary. If a parent holding company has filed this schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating the identification of the relevant subsidiary.
See Notes above.
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.
Squadron Master Fund LP
Signature:
/s/ Matthew Sesterhenn
Name/Title:
Partner, Squadron Partners LLC, its General Partner
What stake did Squadron Master Fund disclose in SCYNEXIS (SCYX)?
The filing discloses 7,608,695 shares, equal to 9.6% of SCYNEXIS common stock. This percentage is calculated using 79,442,633 shares outstanding as the basis and the report is dated 03/31/2026.
Who filed the Schedule 13G for SCYNEXIS (SCYX)?
The Schedule 13G was filed by Squadron Master Fund LP, with Squadron Capital Management, LLC and partners Matthew Sesterhenn and William Blank listed as reporting persons on the form.
Does the Schedule 13G indicate active control or voting power over SCYNEXIS?
The filing shows shared voting and dispositive power of 7,608,695 shares for the reported parties. It also contains an express disclaimer under Rule 13d-4 regarding beneficial ownership by the adviser and partners.
What outstanding share count was used to compute the 9.6% ownership?
The percentage is based on a reported 79,442,633 shares outstanding. That share count is the explicit denominator used in the Schedule 13G to calculate the 9.6% ownership figure.
Does this Schedule 13G require SCYNEXIS to change board composition or operations?
No. The Schedule 13G is a passive ownership disclosure showing a >5% stake. It does not itself require any corporate governance changes; any operational impact would depend on future actions or communications by the holders.
