Sanofi (SNY) reports Attovia Series C preferred stock holding
Rhea-AI Filing Summary
Sanofi filed an initial ownership report for its stake in Attovia Therapeutics, Inc. through indirect holdings of Series C preferred stock. Sanofi, as a more-than-10% owner, reports 782,855 shares of Series C preferred stock, representing 782,855 underlying shares of common stock held indirectly through wholly owned subsidiaries.
The Series C preferred stock is convertible at the holder’s option into common stock based on a $1.375 reference amount divided by a conversion price defined in Attovia’s Restated Certificate of Incorporation. The preferred shares may cease to be convertible upon certain redemptions, liquidations, dissolutions, or a winding up, and will convert automatically upon a Qualified Public Offering or at the Mandatory Conversion Time, as described in that certificate.
Positive
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Insider Trade Summary
1 transaction reported
Mixed
1 txn
Insider
Sanofi
Role
10% Owner
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| holding | Series C Preferred Stock F1, F2 | -- | -- | -- |
Holdings After Transaction:
Series C Preferred Stock — 782,855 shares (Indirect, See footnote)
Footnotes (2)
- F1. The Series C preferred stock ("Preferred Stock") is convertible at the holder's option at any time into shares of the Issuer's common stock equal to dividing $1.375 by the conversion price applicable at the conversion time (which conversion price was $1.375 at the time of issuance of the Preferred Stock, as adjusted for certain anti-dilution and other adjustments described in the Issuer's Restated Certificate of Incorporation (the "Certificate")). The Preferred Stock ceases to be convertible upon certain events described in the Certificate, including certain redemptions and other events such as liquidations, dissolutions, or winding up of the Issuer. The Preferred Stock also converts in full automatically upon a Qualified Public Offering or at the Mandatory Conversion Time, each as defined in the Certificate.
- F2. Sanofi is the beneficial owner of the Preferred Stock through various wholly-owned subsidiaries.
Key Figures
Series C Preferred Shares Held: 782,855 shares
Underlying Common Shares: 782,855 shares
Reference Conversion Amount: $1.375
+1 more
4 metrics
Series C Preferred Shares Held
782,855 shares
Indirectly held by Sanofi through wholly owned subsidiaries following the reported event
Underlying Common Shares
782,855 shares
Common stock underlying the reported Series C preferred stock position
Reference Conversion Amount
$1.375
Amount divided by the applicable conversion price to determine conversion into common stock
Ownership Status
More-than-10% owner
Sanofi identified as a ten percent owner of Attovia Therapeutics, Inc.
Key Terms
Series C preferred stock, Qualified Public Offering, Mandatory Conversion Time, Restated Certificate of Incorporation, +1 more
5 terms
Series C preferred stock financial
"Sanofi reports indirect holdings of Series C preferred stock convertible into common stock"
A Series C preferred stock is a specific class of ownership issued during a later funding round that gives holders priority over common shareholders for getting paid and receiving dividends, like having a reserved lane in traffic when money is distributed. It often includes agreed rights such as a fixed payout, protection against dilution, and the option to convert into common shares, so investors treat it as a mix of safety and upside potential.
Qualified Public Offering financial
"The Preferred Stock also converts in full automatically upon a Qualified Public Offering"
Mandatory Conversion Time financial
"The Preferred Stock also converts in full automatically upon a Qualified Public Offering or at the Mandatory Conversion Time"
Restated Certificate of Incorporation regulatory
"adjustments described in the Issuer's Restated Certificate of Incorporation"
A restated certificate of incorporation is an updated, single-document version of a company’s founding rules that folds together the original charter and all later changes into one clear set of terms — like replacing a patchwork manual with a clean, revised edition. Investors care because it clarifies ownership details, voting rights, share classes and other legal rules that affect control, dividends and how value is created or diluted, so it can change the risks and benefits of owning the stock.
beneficial owner financial
"Sanofi is the beneficial owner of the Preferred Stock through various wholly-owned subsidiaries"
A beneficial owner is the person who ultimately owns or controls a financial asset or property, even if their name isn't directly on official documents. Think of it like someone who secretly holds the keys to a safe deposit box—others may appear to have access, but the true owner is the one who benefits from what's inside. Identifying beneficial owners helps ensure transparency and prevent illegal activities like money laundering or fraud.
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What ownership in Attovia Therapeutics (ATTO) does Sanofi report on this Form 3?
Sanofi reports indirect ownership of 782,855 shares of Attovia’s Series C preferred stock, representing 782,855 underlying common shares, held through various wholly owned subsidiaries as disclosed in the filing’s footnotes.
How is the Series C preferred stock of Attovia (ATTO) convertible according to Sanofi’s filing?
The Series C preferred stock is convertible at the holder’s option into common stock by dividing $1.375 by the applicable conversion price, which was $1.375 at issuance, subject to anti-dilution and other adjustments in Attovia’s Restated Certificate of Incorporation.
Is Sanofi a more-than-10% owner of Attovia Therapeutics (ATTO)?
Yes. Sanofi is identified as a ten percent owner of Attovia Therapeutics, Inc. The reported holdings are indirect, through Sanofi’s various wholly owned subsidiaries that beneficially own the Series C preferred stock.
Under what conditions does Attovia’s Series C preferred held by Sanofi automatically convert?
The Series C preferred stock automatically converts in full upon a Qualified Public Offering or at the Mandatory Conversion Time, each defined in Attovia’s Restated Certificate of Incorporation, in addition to optional conversion at the holder’s discretion.
When can Attovia’s Series C preferred stock held by Sanofi cease to be convertible?
The preferred stock may cease to be convertible upon certain events described in the Restated Certificate of Incorporation, including specified redemptions and events such as liquidations, dissolutions, or winding up of Attovia Therapeutics, Inc.