SpyGlass Pharma (SGP) 10% owner details indirect preferred stakes
Rhea-AI Filing Summary
SpyGlass Pharma, Inc. insider Florence Anthony A. Jr., a 10% owner, filed a Form 3 reporting indirect holdings of multiple preferred stock series. These include Series B preferred stock convertible into 1,619,240 shares of common stock and Series A preferred stock convertible into 954,990 common shares.
All reported preferred shares automatically convert into common stock on a one-for-one basis before the closing of SpyGlass Pharma’s initial public offering. The securities are directly owned by New Enterprise Associates funds, while Anthony serves in managing roles at their general partners and disclaims beneficial ownership where he has no pecuniary interest.
Positive
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Negative
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Insider Trade Summary
6 transactions reported
Mixed
6 txns
Insider
Florence Anthony A. Jr.
Role
10% Owner
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| holding | Series B Preferred Stock | -- | -- | -- |
| holding | Series C-1 Preferred Stock | -- | -- | -- |
| holding | Series C-2 Preferred Stock | -- | -- | -- |
| holding | Series D Preferred Stock | -- | -- | -- |
| holding | Series A Preferred Stock | -- | -- | -- |
| holding | Series B Preferred Stock | -- | -- | -- |
Holdings After Transaction:
Series B Preferred Stock — 1,619,240 shares (Indirect, See Note 2);
Series C-1 Preferred Stock — 1,370,168 shares (Indirect, See Note 2);
Series C-2 Preferred Stock — 1,370,168 shares (Indirect, See Note 2);
Series D Preferred Stock — 737,962 shares (Indirect, See Note 2);
Series A Preferred Stock — 954,990 shares (Indirect, See Note 3);
Series B Preferred Stock — 402,273 shares (Indirect, See Note 3)
Footnotes (3)
- F1. All shares of the preferred stock, par value $0.00001 per share, of the Issuer will automatically be converted on a one-for-one basis to shares of the Issuer's common stock, par value $0.00001 per share ("Common Stock") prior to the closing of the Issuer's initial public offering of its Common Stock.
- F2. The Reporting Person is a manager of NEA 17 GP, LLC, which is the sole general partner of NEA Partners 17, L.P. ("NEA Partners 17"). NEA Partners 17 is the sole general partner of New Enterprise Associates 17, L.P. ("NEA 17"), the direct beneficial owner of the securities. The Reporting Person disclaims beneficial ownership within the meaning of Section 16 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise of such portion of the securities held by NEA 17 in which the Reporting Person has no pecuniary interest.
- F3. The Reporting Person is a manager of NEA 16 GP, LLC, which is the sole general partner of NEA Partners 16, L.P. ("NEA Partners 16"). NEA Partners 16 is the sole general partner of New Enterprise Associates 16, L.P. ("NEA 16"), the direct beneficial owner of the securities. The Reporting Person disclaims beneficial ownership within the meaning of Section 16 of the Exchange Act or otherwise of such portion of the securities held by NEA 16 in which the Reporting Person has no pecuniary interest.
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FAQ
What does Florence Anthony A. Jr.’s Form 3 for SpyGlass Pharma (SGP) report?
The Form 3 reports indirect holdings of several preferred stock series in SpyGlass Pharma. These preferred shares are held through New Enterprise Associates funds and are convertible into common stock, establishing Anthony as a 10% owner at the time of the filing.
Which SpyGlass Pharma preferred stock series are disclosed in this Form 3?
The filing lists indirect holdings of Series A, Series B, Series C-1, Series C-2, and Series D preferred stock. Each series is convertible into SpyGlass Pharma common stock, with specific share amounts disclosed for each class in the derivative securities table.
What role do New Enterprise Associates funds play in this SpyGlass Pharma Form 3?
New Enterprise Associates 17 and 16 funds are the direct beneficial owners of the preferred shares. Florence Anthony A. Jr. is a manager of their general partners and disclaims beneficial ownership of portions of the securities where he has no pecuniary interest.
Does the Form 3 indicate direct or indirect ownership for Florence Anthony A. Jr.?
All reported holdings are marked as indirect ownership. The securities are held by NEA 17 and NEA 16 funds, with Anthony’s interest arising through his managerial roles at their general partners, and with disclaimers where he lacks pecuniary interest.