OrbiMed funds tied to Shattuck Labs (STTK) buy 1.25M pre-funded warrants
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Shattuck Labs director-associated funds increased their indirect stake through derivative securities. Entities affiliated with OrbiMed bought a total of 1,250,000 Pre-Funded Warrants for Shattuck Labs common stock on June 11, 2026, each with an exercise price of $0.0001 per share.
Following these purchases, one OrbiMed vehicle held 5,303,908 Pre-Funded Warrants and 1,051,021 common shares indirectly, while another held 26,519,541 Pre-Funded Warrants and 5,255,106 common shares indirectly. The warrants are exercisable after issuance, subject to a 9.99% beneficial ownership blocker.
Positive
- None.
Negative
- None.
Insights
OrbiMed-linked funds increased exposure via low-strike pre-funded warrants.
Affiliated funds of OrbiMed Advisors, associated with Shattuck Labs director Mona Ashiya, purchased 1,250,000 Pre-Funded Warrants tied to common stock, all reported as indirect holdings. These warrants carry a nominal exercise price of $0.0001 per share.
The filing notes these warrants are exercisable any time after issuance but capped by a 9.99% beneficial ownership blocker, limiting how many can be exercised at once. Both common shares and warrants are held by OrbiMed funds, with the reporting persons disclaiming beneficial ownership beyond their pecuniary interest.
Because the transactions occur within a broader public offering of 10,879,376 shares and 7,870,624 Pre-Funded Warrants at around $4.00 per unit, the activity appears to be participation in that financing rather than a standalone market bet, so the thesis impact is modest.
Insider Trade Summary
4 transactions reported
Net Buy
4 txns
Insider
Ashiya Mona
Role
null
Bought
1,250,000 shs ($0.00)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Purchase | Pre-Funded Warrants (right to buy) | 1,041,667 | $0.00 | -- |
| Purchase | Pre-Funded Warrants (right to buy) | 208,333 | $0.00 | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Pre-Funded Warrants (right to buy) — 26,519,541 shares (Indirect, See Footnote);
Common Stock — 5,255,106 shares (Indirect, See Footnote)
Footnotes (1)
- On June 9, 2026, the Issuer announced a public offering of an aggregate of 10,879,376 shares of common stock ("Shares") at a price of $4.00 per Share and, in lieu of Shares to certain investors, pre-funded warrants ("Pre-Funded Warrants") to purchase up to an aggregate of 7,870,624 Shares at a price of $3.9999 per Pre-Funded Warrant. The Pre-Funded Warrant have an exercise price of $0.0001 per share and are exercisable at any time after the date of issuance. The public offering closed on June 11, 2026. The Pre-Funded Warrants are exercisable at any time after the date of issuance, subject to a 9.99% beneficial ownership blocker. The Pre-Funded Warrants will expire once exercised in full. These securities are held of record by OrbiMed Private Investments IX, LP ("OPI IX"). OrbiMed Capital GP IX LLC ("GP IX") is the general partner of OPI IX. OrbiMed Advisors LLC ("OrbiMed Advisors"), a registered investment adviser under the Investment Advisers Act of 1940, as amended, is the managing member of GP IX. By virtue of such relationships, GP IX and OrbiMed Advisors may be deemed to have voting and investment power with respect to the securities held by OPI XI. OrbiMed Advisors exercises this investment and voting power through a management committee comprised of Carl L. Gordon, Sven H. Borho, and W. Carter Neild, each of whom disclaims beneficial ownership of the shares held by OPI IX. These securities are held of record by OrbiMed Genesis Master Fund, L.P. ("Genesis Master Fund"). OrbiMed Genesis GP LLC ("Genesis GP") is the general partner of Genesis Master Fund. OrbiMed Advisors is the managing member of Genesis GP. By virtue of such relationships, Genesis GP and OrbiMed Advisors may be deemed to have voting and investment power with respect to the securities held by Genesis Master Fund. OrbiMed Advisors exercises voting and investment power through a management committee comprised of Carl L. Gordon, Sven H. Borho, and W. Carter Neild, each of whom disclaims beneficial ownership of the shares held by Genesis Master Fund. Each of the Reporting Person, OrbiMed Advisors, GP IX, and Genesis GP disclaims beneficial ownership of the securities reported herein for purposes of Rule 16a-1(a) under the Securities Exchange Act of 1943, as amended (the "Exchange Act"), except to the extent of its pecuniary interest therein, if any. This report shall not be deemed an admission that any of the Reporting Person, OrbiMed Advisors, GP IX, or Genesis GP is a beneficial owner of such securities for purposes of Section 16 of the Exchange Act, or for any other purpose.
Key Figures
Pre-Funded Warrants purchased: 1,250,000 warrants
Warrant exercise price: $0.0001 per share
Public offering common shares: 10,879,376 shares
+4 more
7 metrics
Pre-Funded Warrants purchased
1,250,000 warrants
Total bought on June 11, 2026
Warrant exercise price
$0.0001 per share
Exercise price for Pre-Funded Warrants
Public offering common shares
10,879,376 shares
Offered at $4.00 per share
Public offering pre-funded warrants
7,870,624 warrants
Offered at $3.9999 per warrant
Beneficial ownership blocker
9.99%
Cap on warrant exercises
Indirect common shares (OPI IX)
1,051,021 shares
Total following transactions
Indirect common shares (Genesis Master Fund)
5,255,106 shares
Total following transactions
Key Terms
Pre-Funded Warrants, beneficial ownership blocker, public offering, registered investment adviser, +2 more
6 terms
Pre-Funded Warrants financial
"pre-funded warrants ("Pre-Funded Warrants") to purchase up to an aggregate of 7,870,624 Shares"
Pre-funded warrants are financial instruments that give investors the right to purchase a company's stock at a set price, but with most or all of the purchase price paid upfront. They function like a coupon or gift card for stock, allowing investors to buy shares later at a fixed price, which can be beneficial if they want to avoid future price increases. This makes them important for investors seeking flexibility and certainty in their investment plans.
beneficial ownership blocker regulatory
"The Pre-Funded Warrants are exercisable at any time after the date of issuance, subject to a 9.99% beneficial ownership blocker."
A beneficial ownership blocker is a legal or structural device that prevents a shareholder from being treated as the ultimate owner of enough shares to trigger control, reporting, or voting thresholds. Think of it like a speed bump that stops an investor from reaching a stake size that would force corporate disclosure or change control rights. Investors care because it affects who controls the company, how shares vote, regulatory filings, takeover risk and therefore potential value or liquidity of their holdings.
public offering financial
"the Issuer announced a public offering of an aggregate of 10,879,376 shares of common stock"
A public offering is when a company sells shares to the general public through the stock market, either by issuing new shares to raise cash or by letting existing owners sell their stakes. Think of it like a business opening its doors to many new owners at once: it can bring in money for growth but also increases the number of shares available, which can change the stock price and dilute existing ownership — key factors investors watch closely.
registered investment adviser regulatory
"OrbiMed Advisors LLC ("OrbiMed Advisors"), a registered investment adviser under the Investment Advisers Act of 1940"
A registered investment adviser (RIA) is a firm or individual legally registered with regulators to give personalized investment advice and manage clients' money, with a duty to put clients’ interests ahead of their own. Think of an RIA as a licensed financial guide who must disclose fees, conflicts and how they are paid; that transparency and legal duty matter to investors because it reduces the risk of hidden costs or biased recommendations.
pecuniary interest financial
"disclaims beneficial ownership of the securities reported herein ... except to the extent of its pecuniary interest therein"
Section 16 regulatory
"not be deemed an admission that any of the Reporting Person ... is a beneficial owner of such securities for purposes of Section 16"
Section 16 is a U.S. securities law rule that governs the trading and disclosure obligations of company insiders — typically officers, directors and large shareholders — to promote transparency and deter unfair profit-taking. It requires insiders to publicly report their stock trades and allows companies or the issuer to reclaim quick, short-term profits from certain insider trades, like a scoreboard and a refund policy that help investors see and limit possible insider advantage.
FAQ
How many Shattuck Labs pre-funded warrants do the OrbiMed funds hold after this filing?
After the reported transactions, one OrbiMed vehicle holds 5,303,908 Pre-Funded Warrants and another holds 26,519,541. These positions are in addition to their indirect common stock stakes and are subject to a 9.99% beneficial ownership blocker on exercise.
What are the key terms of Shattuck Labs’ June 2026 public offering mentioned in the Form 4?
The footnotes describe a public offering of 10,879,376 common shares at $4.00 per share and, in lieu of shares to certain investors, 7,870,624 Pre-Funded Warrants at $3.9999 each, with a $0.0001 per share exercise price, closing June 11, 2026.
Do the reporting persons claim full beneficial ownership of the Shattuck Labs securities?
No. The filing explicitly states that the reporting person and related OrbiMed entities disclaim beneficial ownership of the securities, except to the extent of any pecuniary interest. It also clarifies that this report is not an admission of beneficial ownership for Section 16 purposes.
What does the 9.99% beneficial ownership blocker mean for Shattuck Labs pre-funded warrants?
The 9.99% beneficial ownership blocker limits how many Pre-Funded Warrants can be exercised so the holder’s beneficial ownership of Shattuck Labs stock does not exceed 9.99%. This cap remains in place until warrants are fully exercised and then expire.