ADAR1 funds buy 1.0M Tenax Therapeutics shares

TENAX THERAPEUTICS, INC.

Rhea-AI Filing Summary

TENAX THERAPEUTICS, INC. (TENX) reported insider activity by ADAR1 Capital Management, LLC and Daniel Schneeberger, each a ten percent owner. Private investment funds managed by ADAR1 purchased a total of 1,025,867 shares of TENX common stock indirectly on August 20, 21 and 24, 2026 at weighted average prices around $1.75–$1.78 per share in multiple open-market transactions. The securities are held by the ADAR1-managed funds and may be deemed indirectly beneficially owned by ADAR1 and Schneeberger, who each disclaim beneficial ownership beyond any pecuniary interest.

Insider Trade Summary

Net Buyer: 1,025,867 shares

Net Buy 3 txns

Insider ADAR1 Capital Management, LLC, Schneeberger Daniel

Role 10% Owner | 10% Owner

Bought 1,025,867 shs ($1.81M)

Type	Security	Shares	Price	Value
Purchase	Common Stock F3, F4, F5	107,374	$1.7542	$188K
Purchase	Common Stock F2, F4, F5	716,369	$1.7676	$1.27M
Purchase	Common Stock F1, F4, F5	202,124	$1.7788	$360K

Holdings After Transaction: Common Stock — 4,853,818 shares (Indirect, See Footnote)

Footnotes (5)

1. F1. The reported price is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $1.7650 to $1.8000, inclusive. Each Reporting Person undertakes to provide to Tenax Therapeutics, Inc., any security holder of Tenax Therapeutics, Inc. or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the ranges set forth in this footnote.
2. F2. The reported price is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $1.7250 to $1.8000, inclusive. Each Reporting Person undertakes to provide to Tenax Therapeutics, Inc., any security holder of Tenax Therapeutics, Inc. or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the ranges set forth in this footnote.
3. F3. The reported price is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $1.7000 to $1.8000, inclusive. Each Reporting Person undertakes to provide to Tenax Therapeutics, Inc., any security holder of Tenax Therapeutics, Inc. or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the ranges set forth in this footnote.
4. F4. The reported securities are owned directly by private investment funds managed by ADAR1 Capital Management, LLC, and may be deemed to be indirectly beneficially owned by (i) ADAR1 Capital Management, LLC and (ii) Daniel Schneeberger, the sole manager of ADAR1 Capital Management, LLC.
5. F5. For purposes of Section 16 of the Securities Exchange Act of 1934, as amended, each Reporting Person disclaims beneficial ownership of any such securities, except to the extent of his/its pecuniary interest therein, if any, and this report shall not be deemed an admission that such Reporting Person is the beneficial owner of such securities for purposes of Section 16 or otherwise.

Key Figures

Total shares purchased: 1,025,867 shares Shares purchased 2026-08-20: 202,124 shares Shares purchased 2026-08-21: 716,369 shares +4 more

7 metrics

Total shares purchased 1,025,867 shares Aggregate TENX common stock bought indirectly by ADAR1-managed funds on August 20–24, 2026

Shares purchased 2026-08-20 202,124 shares TENX common stock bought at weighted average price $1.7788 per share

Shares purchased 2026-08-21 716,369 shares TENX common stock bought at weighted average price $1.7676 per share

Shares purchased 2026-08-24 107,374 shares TENX common stock bought at weighted average price $1.7542 per share

Price range 2026-08-20 $1.7650–$1.8000 per share Range of prices for trades included in the weighted average on August 20, 2026

Price range 2026-08-21 $1.7250–$1.8000 per share Range of prices for trades included in the weighted average on August 21, 2026

Price range 2026-08-24 $1.7000–$1.8000 per share Range of prices for trades included in the weighted average on August 24, 2026

Key Terms

weighted average price, indirectly beneficially owned, pecuniary interest, Section 16 of the Securities Exchange Act of 1934

4 terms

weighted average price financial

"The reported price is a weighted average price. These shares were purchased"

Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.

indirectly beneficially owned financial

"may be deemed to be indirectly beneficially owned by (i) ADAR1 Capital"

pecuniary interest financial

"disclaims beneficial ownership of any such securities, except to the extent of his/its pecuniary interest"

Section 16 of the Securities Exchange Act of 1934 regulatory

"For purposes of Section 16 of the Securities Exchange Act of 1934, as amended, each Reporting Person"

A provision of federal securities law that requires company insiders—directors, officers and large shareholders—to publicly report their stock holdings and trades and to surrender any “short-swing” profits from purchases and sales within a six-month window. It acts like a rule that forces leaders to announce their trades and prevents quick buy-sell windfalls, giving investors transparency into insider activity and reducing opportunities for unfair gain.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider buying was reported for TENX in this Form 4?

Private investment funds managed by ADAR1 Capital Management, LLC bought 1,025,867 shares of Tenax Therapeutics, Inc. common stock in open-market transactions on August 20, 21 and 24, 2026 at weighted average prices between $1.70 and $1.80 per share.

Who are the reporting persons in the TENX Form 4 filing?

The reporting persons are ADAR1 Capital Management, LLC and Daniel Schneeberger, each listed as a ten percent owner of Tenax Therapeutics, Inc. They report securities held by private investment funds that ADAR1 manages.

How many TENX shares were purchased on August 20, 2026?

On August 20, 2026, private investment funds managed by ADAR1 Capital Management, LLC purchased 202,124 shares of Tenax Therapeutics, Inc. common stock at a weighted average price of $1.7788 per share, in multiple transactions between $1.7650 and $1.8000 per share.

What TENX share purchases occurred on August 21, 2026?

On August 21, 2026, the ADAR1-managed funds purchased 716,369 shares of Tenax Therapeutics, Inc. common stock at a weighted average price of $1.7676 per share, through multiple trades executed between $1.7250 and $1.8000 per share.

What TENX share purchases occurred on August 24, 2026?

On August 24, 2026, the ADAR1-managed funds purchased 107,374 shares of Tenax Therapeutics, Inc. common stock at a weighted average price of $1.7542 per share, in multiple trades with prices ranging from $1.7000 to $1.8000 per share.

How is beneficial ownership of the TENX shares described in this Form 4?

The securities are owned directly by private investment funds managed by ADAR1 Capital Management, LLC and may be deemed indirectly beneficially owned by ADAR1 and Daniel Schneeberger. Each reporting person disclaims beneficial ownership except to the extent of any pecuniary interest.

Were the TENX insider trades made under a Rule 10b5-1 trading plan?

The document-level Rule 10b5-1 checkbox is not checked. The footnotes do not state that the trades were made pursuant to a Rule 10b5-1 or other pre-arranged trading plan.

AI-generated analysis. How Rhea-AI works. Not financial advice.

Form 4 Insider Transactions: What Each Field Means →

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Available on EDGAR 08/24/2026 - 06:13 PM EDT Accepted by SEC EDGAR 08/24/2026 - 06:12 PM EDT Learn about SEC filing dates

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

ADAR1 Capital Management, LLC

(Last) (First) (Middle)

3503 WILD CHERRY DRIVE

BUILDING 9

(Street)

AUSTIN TEXAS 78738

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
TENAX THERAPEUTICS, INC. [ TENX ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
08/20/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

	Form filed by One Reporting Person
X	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	08/20/2026		P		202,124	A	$1.7788(1)	4,030,075	I	See Footnote(4)(5)
Common Stock	08/21/2026		P		716,369	A	$1.7676(2)	4,746,444	I	See Footnote(4)(5)
Common Stock	08/24/2026		P		107,374	A	$1.7542(3)	4,853,818	I	See Footnote(4)(5)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

1. Name and Address of Reporting Person^*

ADAR1 Capital Management, LLC

(Last) (First) (Middle)

3503 WILD CHERRY DRIVE

BUILDING 9

(Street)

AUSTIN TEXAS 78738

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

Schneeberger Daniel

(Last) (First) (Middle)

3503 WILD CHERRY DRIVE

BUILDING 9

(Street)

AUSTIN TEXAS 78738

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

Explanation of Responses:

1. The reported price is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $1.7650 to $1.8000, inclusive. Each Reporting Person undertakes to provide to Tenax Therapeutics, Inc., any security holder of Tenax Therapeutics, Inc. or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the ranges set forth in this footnote.

2. The reported price is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $1.7250 to $1.8000, inclusive. Each Reporting Person undertakes to provide to Tenax Therapeutics, Inc., any security holder of Tenax Therapeutics, Inc. or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the ranges set forth in this footnote.

3. The reported price is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $1.7000 to $1.8000, inclusive. Each Reporting Person undertakes to provide to Tenax Therapeutics, Inc., any security holder of Tenax Therapeutics, Inc. or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the ranges set forth in this footnote.

4. The reported securities are owned directly by private investment funds managed by ADAR1 Capital Management, LLC, and may be deemed to be indirectly beneficially owned by (i) ADAR1 Capital Management, LLC and (ii) Daniel Schneeberger, the sole manager of ADAR1 Capital Management, LLC.

5. For purposes of Section 16 of the Securities Exchange Act of 1934, as amended, each Reporting Person disclaims beneficial ownership of any such securities, except to the extent of his/its pecuniary interest therein, if any, and this report shall not be deemed an admission that such Reporting Person is the beneficial owner of such securities for purposes of Section 16 or otherwise.

	ADAR1 Capital Management, LLC By: Daniel Schneeberger, Manager /s/ Daniel Schneeberger	08/24/2026
	/s/ Daniel Schneeberger	08/24/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)