Schedule 13G: Summer Road LLC Discloses 2.68M THTX Shares, Passive 5.84% Stake

Rhea-AI Filing Summary

Summer Road LLC filed a Schedule 13G reporting beneficial ownership of 2,683,591 Common Shares of Theratechnologies Inc. (CUSIP 88338H704), representing 5.84% of the 45,980,019 shares outstanding cited from the issuer's Form 20-F. The Reporting Person is a Delaware family office that holds these shares through investment management agreements with two Family Clients, identified as Cap 1 LLC and East River Partners Ltd. The filing states the shares are held passively and were not acquired to influence control of the issuer.

Positive

• Transparent disclosure of a material 5.84% stake (2,683,591 shares)
• Identification of underlying holders (Cap 1 LLC and East River Partners Ltd.) improves investor clarity
• Reporting Person states passive intent, reducing immediate governance/activism concerns

Negative

• None.

Insights

Securities Analyst

TL;DR: A family office reports a passive stake of 5.84% in Theratechnologies, disclosing beneficial owners and voting/dispositive power.

The Schedule 13G shows Summer Road LLC controls 2,683,591 shares with sole voting and dispositive power, indicating consolidated management of these holdings through IMAs with Family Clients. Disclosure under Rule 13d-1(c) signals a passive intent rather than an activist stance, which typically reduces near-term governance risk for existing management while creating a meaningful minority ownership position that could attract investor attention.

Corporate Governance Expert

TL;DR: Material passive ownership disclosed; names of underlying family clients are provided for transparency.

The filing identifies the Reporting Person as a family office operating under the Family Office Rule and names two Family Clients holding the shares. This level of disclosure improves transparency about who holds a material stake (>5%) and clarifies that voting/dispositive authority rests with the Reporting Person, which is relevant for governance monitoring but does not indicate an intent to change control.

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

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Accepted by SEC EDGAR 09/29/2025 - 04:30 PM Learn about SEC filing dates

FAQ

How many Theratechnologies (THTX) shares does Summer Road LLC report owning?

The filing states Summer Road LLC beneficially owns 2,683,591 Common Shares.

What percentage of THTX does the reported stake represent?

The shares represent 5.84% of the 45,980,019 Common Shares outstanding cited in the filing.

Does Summer Road LLC intend to influence control of Theratechnologies?

The certification in the Schedule 13G states the shares were not acquired and are not held to change or influence control; the filing is consistent with passive ownership.

Who are the underlying beneficial owners mentioned in the filing?

The filing identifies two Family Clients as beneficial owners: Cap 1 LLC and East River Partners Ltd.

What authority does Summer Road LLC have over these shares?

The filing reports Summer Road LLC has sole voting and sole dispositive power over the 2,683,591 shares.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

Theratechnologies Inc.

(Name of Issuer)

Common Shares

(Title of Class of Securities)

88338H704

(CUSIP Number)

09/22/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 88338H704

1

Names of Reporting Persons

Summer Road LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 2,683,591.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 2,683,591.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

2,683,591.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

5.84 %

12

Type of Reporting Person (See Instructions)

OO

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Theratechnologies Inc.
(b)	Address of issuer's principal executive offices: 2015 Peel Street, 11th Floor, Montreal, Quebec, Canada H3A 1T8
Item 2.
(a)	Name of person filing: The Statement is filed on behalf of Summer Road LLC (the "Reporting Person"): The Reporting Person is a family office of the same family under Investment Advisers Act of 1940 Rule 202(a)(11)(G)-1 (the "Family Office Rule"). Pursuant to investment management agreements ("IMAs") between itself and its "Family Clients" (as defined in the Family Office Rule), the Reporting Person exercises voting and dispositive power with respect to the Common Shares of the Issuer held by each of the Family Clients.
(b)	Address or principal business office or, if none, residence: 207 6th Street West Palm Beach, FL 33401 Attention: Frank S. Vellucci
(c)	Citizenship: The Reporting Person is a Delaware limited liability company.
(d)	Title of class of securities: Common Shares
(e)	CUSIP No.: 88338H704
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 2,683,591*
(b)	Percent of class: 5.84%**
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 2,683,591*
	(ii) Shared power to vote or to direct the vote: -0-
	(iii) Sole power to dispose or to direct the disposition of: 2,683,591*
	(iv) Shared power to dispose or to direct the disposition of: -0- *Represents shares beneficially owned by Reporting Person through an IMA entered into with a Family Client. **This calculation is rounded to the nearest tenth and is based upon 45,980,019 Common Shares outstanding, as reported in the Issuer's Form 20-F filed with the Securities and Exchange Commission on February 26, 2025 (File No. 001-35203).
Item 5.	Ownership of 5 Percent or Less of a Class.
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required. The securities as to which this Schedule 13G is filed by the Reporting Person are beneficially owned by two Family Clients of the Reporting Person. The following Family Client is the beneficial owner of more than five percent of the Common Shares: (i) Cap 1 LLC; and (ii) East River Partners Ltd.
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Summer Road LLC

Signature:	/s/ Frank S. Vellucci
Name/Title:	Frank S. Vellucci, General Counsel
Date:	09/29/2025