SpyGlass Pharma (SGP) Vensana entities detail sizable preferred holdings
Rhea-AI Filing Summary
SpyGlass Pharma 10% owner Vensana Capital I, L.P. reports indirect holdings of multiple preferred stock series that will convert into common shares before the company’s initial public offering.
The filing lists indirect holdings by Vensana Capital I, L.P. of Series B Preferred Stock convertible into 1,690,230 shares of common stock, Series C-1 Preferred Stock convertible into 548,067 shares, Series C-2 Preferred Stock convertible into 548,067 shares, and Series D Preferred Stock convertible into 359,255 shares. All preferred shares automatically convert to common stock on a one-for-one basis prior to the IPO. The interests are attributed to Vensana Capital I, L.P., with its general partner and two managing directors disclaiming beneficial ownership except for their respective pecuniary interests.
Positive
- None.
Negative
- None.
Insider Trade Summary
| 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 | -- | -- | -- |
Footnotes (1)
- 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. These shares are held directly by Vensana Capital I, L.P. ("Vensana I"). Vensana Capital I GP, LLC ("Vensana GP I") is the general partner of Vensana I. Kirk Nielsen, a member of the Issuer's board of directors, and Peter Justin Klein (the "GP I Managing Directors") are the managing directors of Vensana GP I. Each of Vensana GP I and the GP I Managing Directors, in their capacities with respect to Vensana GP I, may be deemed to have voting, investment and dispositive power with respect to the shares held by Vensana I. Each of Vensana GP I and the GP I Managing Directors disclaims beneficial ownership of these securities and this report shall not be deemed an admission that any one of Vensana GP I or the GP I Managing Directors is the beneficial owner of such securities for purposes of Section 16 or for any other purpose, except to the extent of their respective pecuniary interests therein.
FAQ
What does the SpyGlass Pharma (SGP) Form 3 filing disclose?
The Form 3 discloses indirect holdings of SpyGlass Pharma preferred stock by Vensana Capital I, L.P. It identifies several preferred series that will automatically convert into common stock on a one-for-one basis before SpyGlass Pharma’s initial public offering.
What other SpyGlass Pharma preferred series does Vensana Capital I, L.P. hold?
Vensana Capital I, L.P. indirectly holds Series C-1 Preferred Stock convertible into 548,067 common shares, Series C-2 Preferred Stock convertible into 548,067 common shares, and Series D Preferred Stock convertible into 359,255 common shares, all subject to automatic one-for-one conversion before the IPO.
Does the Form 3 indicate any SpyGlass Pharma insider buying or selling?
No buy or sell transactions are reported; the Form 3 reflects existing indirect holdings of preferred stock by Vensana Capital I, L.P. It serves as an initial ownership statement rather than documenting new purchases or sales of SpyGlass Pharma securities.