SpyGlass Pharma director reports preferred holdings
SpyGlass Pharma, Inc. director and 10% owner Ali Behbahani filed an initial Form 3 reporting indirect holdings of several series of preferred stock.
Rhea-AI Filing Summary
SpyGlass Pharma, Inc. director and 10% owner Ali Behbahani filed an initial Form 3 reporting indirect holdings of several series of preferred stock. These include 1,619,240 shares of Series B Preferred Stock and 954,990 shares of Series A Preferred Stock through New Enterprise Associates funds. All preferred shares will automatically convert on a one-for-one basis into common stock before the closing of SpyGlass Pharma’s initial public offering. Behbahani reports these interests through NEA 16 and NEA 17 structures and disclaims beneficial ownership of portions in which he has no pecuniary interest.
Positive
- None.
Negative
- None.
Insider Trade Summary
6 transactions reported
Mixed
6 txns
Insider
Behbahani Ali
Role
Director, 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 contracts (Indirect, See Note 2);
Series C-1 Preferred Stock — 1,370,168 contracts (Indirect, See Note 2);
Series C-2 Preferred Stock — 1,370,168 contracts (Indirect, See Note 2);
Series D Preferred Stock — 737,962 contracts (Indirect, See Note 2);
Series A Preferred Stock — 954,990 contracts (Indirect, See Note 3);
Series B Preferred Stock — 402,273 contracts (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.
FAQ
What does Ali Behbahani’s Form 3 for SpyGlass Pharma (SGP) report?
The Form 3 reports Ali Behbahani’s indirect holdings of multiple series of SpyGlass Pharma preferred stock. These interests are held through New Enterprise Associates funds, with certain portions expressly disclaimed where he has no pecuniary interest under Section 16 of the Exchange Act.
How will SpyGlass Pharma’s preferred stock reported by Behbahani convert?
All reported SpyGlass Pharma preferred stock will automatically convert into common stock on a one-for-one basis. This conversion occurs prior to the closing of the company’s initial public offering of common stock, aligning the preferred holders with the post-IPO common equity structure.
Which SpyGlass Pharma preferred series are included in Behbahani’s Form 3?
The Form 3 lists Series A, Series B, Series C-1, Series C-2, and Series D Preferred Stock of SpyGlass Pharma. Each series is shown as indirectly owned, with corresponding common stock amounts specified and detailed ownership structures provided in the accompanying footnotes.
AI-generated analysis. How Rhea-AI works. Not financial advice.
