SpyGlass Pharma (SGP) 10% holder lists multiple preferred stock stakes
Rhea-AI Filing Summary
SpyGlass Pharma, Inc. filed an initial ownership report for 10% owner Mohamad Makhzoumi, showing indirect holdings of multiple preferred stock series that are convertible into common shares. All preferred shares will automatically convert to common stock on a one-for-one basis before the closing of the company’s initial public offering.
The indirect holdings include Series A, B, C-1, C-2 and D preferred stock of SpyGlass Pharma. These securities are held through New Enterprise Associates funds NEA 16 and NEA 17, where related partnerships are the direct beneficial owners. The reporting person disclaims beneficial ownership of portions of these fund-held securities in which he has no pecuniary interest.
Positive
- None.
Negative
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Insider Trade Summary
6 transactions reported
Mixed
6 txns
Insider
Makhzoumi Mohamad
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)
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. 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. 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 SpyGlass Pharma (SGP) disclose in this Form 3 filing?
SpyGlass Pharma reports the initial beneficial ownership of preferred stock by 10% owner Mohamad Makhzoumi. The filing lists indirect holdings in several preferred series that will automatically convert into common stock before the company’s initial public offering closes.
Who is the reporting person in the SpyGlass Pharma (SGP) Form 3?
The reporting person is Mohamad Makhzoumi, identified as a 10% owner of SpyGlass Pharma. His reported interests are indirect, held through New Enterprise Associates investment funds, with portions of those interests disclaimed where he has no pecuniary interest.
Which SpyGlass Pharma preferred stock series are reported in this Form 3?
The Form 3 lists indirect holdings of Series A, Series B, Series C-1, Series C-2, and Series D preferred stock. Each preferred share is stated to convert automatically into one share of common stock before the closing of SpyGlass Pharma’s initial public offering.
How are NEA 16 and NEA 17 involved in SpyGlass Pharma (SGP) ownership?
The filing explains that New Enterprise Associates funds NEA 16 and NEA 17 are the direct beneficial owners of the reported preferred stock. Mohamad Makhzoumi is a manager of their general partners and disclaims beneficial ownership of portions where he has no pecuniary interest.