Vensana entity linked to SpyGlass Pharma (SGP) director adds to stake
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
SpyGlass Pharma director-affiliated entity reports IPO-related conversions and share purchase. Investment vehicle Vensana Capital I, L.P., associated with director Kirk G. Nielsen, converted multiple series of preferred stock into Common Stock on 02/09/2026 immediately before SpyGlass Pharma’s initial public offering.
The preferred shares converted to Common Stock at a one-for-5.7329 ratio without additional payment. Following these derivative conversions, Vensana Capital I, L.P. indirectly held 3,145,619 Common shares, then acquired an additional 165,000 Common shares in an open‑market purchase at $16 per share, bringing its indirect holdings to 3,310,619 Common shares.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Buyer: 165,000 shares ($2,640,000)
Net Buy
9 txns
Insider
Nielsen Kirk G.
Role
Director
Bought
165,000 shs ($2.64M)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Conversion | Series B Preferred Stock | 9,689,922 | $0.00 | -- |
| Conversion | Series C-1 Preferred Stock | 3,142,015 | $0.00 | -- |
| Conversion | Series C-2 Preferred Stock | 3,142,015 | $0.00 | -- |
| Conversion | Series D Preferred Stock | 2,059,573 | $0.00 | -- |
| Conversion | Common Stock | 1,690,230 | $0.00 | -- |
| Conversion | Common Stock | 548,067 | $0.00 | -- |
| Conversion | Common Stock | 548,067 | $0.00 | -- |
| Conversion | Common Stock | 359,255 | $0.00 | -- |
| Purchase | Common Stock | 165,000 | $16.00 | $2.64M |
Holdings After Transaction:
Series B Preferred Stock — 0 shares (Indirect, See Footnote);
Series C-1 Preferred Stock — 0 shares (Indirect, See Footnote);
Series C-2 Preferred Stock — 0 shares (Indirect, See Footnote);
Series D Preferred Stock — 0 shares (Indirect, See Footnote);
Common Stock — 1,690,230 shares (Indirect, See footnote)
Footnotes (1)
- Each of the Series B Preferred Stock, Series C-1 Preferred Stock, Series C-2 Preferred Stock, and Series D Preferred Stock automatically converted into shares of Common Stock on a one-for-5.7329 basis without payment of further consideration immediately prior to the completion of the Issuer's initial public offering of Common Stock and had no expiration date. 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. Each of the Reporting Person, a member of the Issuer's board of directors, and Peter Justin Klein (the "GP I Managing Directors") is a managing director 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 share 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 the 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 insider transactions did SpyGlass Pharma (SGP) disclose on February 9, 2026?
SpyGlass Pharma disclosed preferred-to-common conversions and a share purchase. Vensana Capital I, L.P., an entity associated with director Kirk G. Nielsen, converted several preferred stock series into Common Stock and then bought 165,000 additional Common shares at $16 per share, all reported as indirect ownership.
Was the SpyGlass Pharma (SGP) insider transaction a buy or a sale?
The reported non-derivative transaction was a purchase. Vensana Capital I, L.P. acquired 165,000 shares of Common Stock in an open‑market or private purchase at $16 per share, adding to the Common Stock received through automatic preferred stock conversions on the same date.