NEA entities tied to Paul Edward Walker boost SpyGlass Pharma (SGP) stake
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
SpyGlass Pharma, Inc. reported that investment entities associated with 10% owner Paul Edward Walker indirectly acquired common stock around the company’s initial public offering. On February 9, 2026, all outstanding preferred stock series automatically converted into common stock on a one-for-one basis before the IPO closing, creating large indirect common holdings for New Enterprise Associates funds.
On the same date, an entity linked to Walker also indirectly purchased 937,500 shares of common stock at $16 per share, bringing that entity’s indirect common holdings to 6,035,038 shares, as referenced in Note 2. Separate entities referenced in Note 3 indirectly held 1,357,263 shares of common stock after related conversions.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Buyer: 937,500 shares ($15,000,000)
Net Buy
13 txns
Insider
Walker Paul Edward
Role
10% Owner
Bought
937,500 shs ($15.00M)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Conversion | Series B Preferred Stock | 1,619,240 | $0.00 | -- |
| Conversion | Series C-1 Preferred Stock | 1,370,168 | $0.00 | -- |
| Conversion | Series C-2 Preferred Stock | 1,370,168 | $0.00 | -- |
| Conversion | Series D Preferred Stock | 737,962 | $0.00 | -- |
| Conversion | Series A Preferred Stock | 954,990 | $0.00 | -- |
| Conversion | Series B Preferred Stock | 402,273 | $0.00 | -- |
| Conversion | Common Stock | 1,619,240 | $0.00 | -- |
| Conversion | Common Stock | 1,370,168 | $0.00 | -- |
| Conversion | Common Stock | 1,370,168 | $0.00 | -- |
| Conversion | Common Stock | 737,962 | $0.00 | -- |
| Purchase | Common Stock | 937,500 | $16.00 | $15.00M |
| Conversion | Common Stock | 954,990 | $0.00 | -- |
| Conversion | Common Stock | 402,273 | $0.00 | -- |
Holdings After Transaction:
Series B Preferred Stock — 0 shares (Indirect, See Note 2);
Series C-1 Preferred Stock — 0 shares (Indirect, See Note 2);
Series C-2 Preferred Stock — 0 shares (Indirect, See Note 2);
Series D Preferred Stock — 0 shares (Indirect, See Note 2);
Series A Preferred Stock — 0 shares (Indirect, See Note 3);
Common Stock — 1,619,240 shares (Indirect, See Note 2)
Footnotes (1)
- All shares of the preferred stock, par value $0.00001 per share, of the Issuer automatically 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 on February 9, 2026. 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.
FAQ
What insider transactions did SGP report for Paul Edward Walker on February 9, 2026?
SpyGlass Pharma reported that entities associated with 10% owner Paul Edward Walker indirectly acquired common shares on February 9, 2026 through automatic preferred-to-common conversions and an additional open-market purchase of 937,500 common shares at $16 per share.
What happened to SpyGlass Pharma’s preferred stock on February 9, 2026?
All series of SpyGlass Pharma preferred stock automatically converted into common stock on a one-for-one basis before the closing of the initial public offering on February 9, 2026. This conversion turned preferred holdings of NEA funds into equivalent common share positions.