Sagimet Biosciences: SilverArc reports 6.1% stake

Available on EDGAR 11/13/2026 - 07:33 PM EST Accepted by SEC EDGAR 11/13/2026 - 07:33 PM EST Learn about SEC filing dates

Rhea-AI Filing Summary

Sagimet Biosciences Inc. (SGMT) is the issuer in a Schedule 13G reporting that SilverArc Capital Management, LLC, an investment adviser, and its sole member Devesh Gandhi are each beneficial owners of 3,745,990 Class A common shares, or 6.1%. The report identifies September 30, 2026, as the event date. Both report shared voting and dispositive power over the same shares; these are overlapping attributions, not separate holdings. SilverArc says its clients have the right to receive and direct dividends and sale proceeds. The reported percentage is based on 61,591,159 common shares outstanding, according to the issuer's Form 10-Q dated August 11, 2026.

Key Figures

Beneficial ownership: 3,745,990 shares Percent of class: 6.1% Shares outstanding: 61,591,159 shares +4 more

7 metrics

Beneficial ownership 3,745,990 shares Reported by SilverArc Capital Management, LLC and Devesh Gandhi, each; shared voting and dispositive power over the same shares.

Percent of class 6.1% Reported beneficial ownership percentage for each reporting person.

Shares outstanding 61,591,159 shares Common shares outstanding according to the issuer's Form 10-Q dated August 11, 2026.

SilverArc Capital Alpha Fund II, L.P. holdings 1,916,060 shares May be deemed beneficially owned; reported as 3.11% of Common Stock believed to be outstanding.

Squarepoint Diversified Partners Fund Limited holdings 685,924 shares May be deemed beneficially owned; reported as 1.11% of Common Stock believed to be outstanding.

Atom Master Fund L.P. holdings 450,374 shares May be deemed beneficially owned; reported as 0.73% of Common Stock believed to be outstanding.

Walleye Opportunities Fund L.P. holdings 270,998 shares May be deemed beneficially owned; reported as 0.44% of Common Stock outstanding.

Key Terms

beneficial owner, shared voting power, shared dispositive power, investment adviser, +1 more

5 terms

beneficial owner financial

"deemed to be the beneficial owner of 3,745,990 shares"

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 voting power financial

"Shared Voting Power 3,745,990.00"

Shared voting power occurs when two or more parties jointly have the right to vote or decide how a block of company shares is cast, like co-owners who must agree before moving a piece of furniture. Investors care because who controls voting rights affects board elections, major corporate decisions and takeover outcomes, and shared control can alter regulatory disclosures and the practical influence any holder has over a company’s direction and value.

shared dispositive power financial

"Shared Dispositive Power 3,745,990.00"

investment adviser financial

"acting as investment adviser to various clients"

An investment adviser is a person or firm that professionally manages money and gives recommendations about buying, selling, or holding investments. Like a financial coach or guide, they have a legal duty to act in a client's best financial interest, so their advice, fees and potential conflicts can directly affect returns and risk — making their role important for investors who want informed, accountable help with portfolios.

Investment Advisers Act of 1940 regulatory

"registered under Section 203 of the Investment Advisers Act of 1940"

A U.S. federal law that sets rules for people and firms who give investment advice, requiring them to register with regulators, be honest about conflicts, keep records, and follow basic standards of care. It matters to investors because those rules act like licensing and consumer protections — similar to having safety standards for a mechanic — helping ensure advisers act in clients’ financial interests and reducing the risk of fraud or misuse of funds.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How many SGMT shares did SilverArc and Devesh Gandhi report owning?

SilverArc Capital Management, LLC and Devesh Gandhi each reported beneficial ownership of 3,745,990 SGMT Class A common shares, representing 6.1%. They report shared voting and dispositive power over the same shares, so the two attributions do not represent separate blocks.

How many SGMT shares were attributed to SilverArc Capital Alpha Fund II?

SilverArc Capital Alpha Fund II, L.P. may be deemed to beneficially own 1,916,060 shares, equal to 3.11% of the Common Stock believed to be outstanding.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

Sagimet Biosciences Inc

(Name of Issuer)

Class A Common Stock

(Title of Class of Securities)

786700104

(CUSIP Number)

09/30/2026

(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): 786700104

1

Names of Reporting Persons

SilverArc 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 3,745,990.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 3,745,990.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

3,745,990.00

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)

6.1 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

CUSIP Number(s): 786700104

1

Names of Reporting Persons

Devesh Gandhi

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 3,745,990.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 3,745,990.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

3,745,990.00

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)

6.1 %

12

Type of Reporting Person (See Instructions)

IN

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Sagimet Biosciences Inc
(b)	Address of issuer's principal executive offices: 950 Tower Lane, Suite 1500, Foster City, CA 94404
Item 2.
(a)	Name of person filing: SilverArc Capital Management, LLC ("SilverArc") and Devesh Gandhi ("Gandhi" and together with SilverArc, the "Reporting Persons")
(b)	Address or principal business office or, if none, residence: 20 Park Plaza, Suite 620 Boston, MA 02116
(c)	Citizenship: SilverArc is a Delaware limited liability company. Gandhi is a citizen of the United States.
(d)	Title of class of securities: Class A Common Stock
(e)	CUSIP Number(s): 786700104
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: 3745990
(b)	Percent of class: 6.1 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 0
	(ii) Shared power to vote or to direct the vote: 3745990
	(iii) Sole power to dispose or to direct the disposition of: 0
	(iv) Shared power to dispose or to direct the disposition of: 3745990
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. As of the date of this Report, SilverArc, an investment adviser registered under Section 203 of the Investment Advisers Act of 1940, is deemed to be the beneficial owner of 3,745,990 shares or 6.1% of the Common Stock believed to be outstanding, as a result of acting as investment adviser to various clients. Gandhi is the Sole Member of SilverArc and as such is deemed to be the beneficial owner of 3,745,990 shares or 6.1% of the Common Stock believed to be outstanding. Clients of SilverArc have the right to receive and the ultimate power to direct the receipt of dividends from, or the proceeds of the sale of, such securities. SilverArc Capital Alpha Fund I, L.P., a Delaware limited partnership for which SilverArc acts as an investment adviser, may be deemed to beneficially own 75,207 of these 3,745,990 shares, which equates to 0.12% of the Common Stock believed to be outstanding. SilverArc Capital Alpha Fund II, L.P., a Delaware limited partnership for which SilverArc acts as an investment adviser, may be deemed to beneficially own 1,916,060 of these 3,745,990 shares, which equates to 3.11% of the Common Stock believed to be outstanding. Squarepoint Diversified Partners Fund Limited, a Cayman Island exempted company for which SilverArc acts as investment adviser, may be deemed to beneficially own 685,924 of these 3,745,990 shares, which equates to 1.11% of the Common Stock believed to be outstanding. Atom Master Fund L.P., a Cayman Islands exempted limited partnership for which SilverArc acts as investment adviser, may be deemed to beneficially own 450,374 of these 3,745,990 shares, which equates to 0.73% of the Common Stock believed to be outstanding. Atom Core Fund L.P., a Cayman Islands exempted limited partnership for which SilverArc acts as investment adviser, may be deemed to beneficially own 134,504 of these 3,745,990 shares, which equates to 0.22% of the Common Stock believed to be outstanding. Map 243 Segregated Portfolio, a Cayman Islands segregated portfolio company for which SilverArc acts as investment adviser, may be deemed to beneficially own 212,293 of these 3,745,990 shares which equates to 0.35% of the Common Stock outstanding. Walleye Opportunities Fund L.P., a Delaware limited partnership for which SilverArc acts as an investment adviser, may be deemed to beneficially own 270,998 of these 3,745,990 shares which equates to 0.44% of the Common Stock outstanding. The percentages reported herein with respect to the Reporting Persons' holdings are calculated based upon the Issuer's Form 10-Q, as filed with the Securities and Exchange Commission on August 11, 2026. Noting that there were shares outstanding of 61,591,159 common stock of the Issuer.
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 acquired and are held in the ordinary course of business and 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.

SilverArc Capital Management, LLC

Signature:	Devesh S. Gandhi
Name/Title:	Sole Member of SilverArc Capital Management, LLC
Date:	11/13/2026

Devesh Gandhi

Signature:	Devesh S. Gandhi
Name/Title:	Sole Member of SilverArc Capital Management, LLC
Date:	11/13/2026