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BKB Growth Investments (VRCA) reports major stake and warrant holdings

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
3

Rhea-AI Filing Summary

BKB Growth Investments, LLC filed an initial ownership report showing a significant stake in Verrica Pharmaceuticals Inc.. As of 11/25/2025, the entity beneficially owns 3,348,372 shares of Verrica common stock directly.

BKB Growth Investments, LLC also holds Series B warrants for 224,719 shares at an exercise price of $1.335 per share, expiring on 11/22/2029, and Series C warrants for 687,690 shares at $6.315 per share, expiring on 11/25/2030. The warrants are immediately exercisable but include a 19.99% beneficial ownership cap, limiting exercise if it would push the holder above that ownership level.

Positive

  • None.

Negative

  • None.
Insider BKB Growth Investments, LLC
Role 10% Owner
Type Security Shares Price Value
holding Series B Warrants (right to buy) -- -- --
holding Series C Warrants (right to buy) -- -- --
holding Common Stock -- -- --
Holdings After Transaction: Series B Warrants (right to buy) — 224,719 shares (Direct); Series C Warrants (right to buy) — 687,690 shares (Direct); Common Stock — 3,348,372 shares (Direct)
Footnotes (3)
  1. F1. Immediately exercisable.
  2. F2. The Reporting Person will not be entitled to exercise any portion of a Series B Warrant that, upon giving effect to such exercise, would cause the aggregate number of shares beneficially owned by the Reporting Person to exceed 19.99% of the number of shares of the Issuer's common stock outstanding immediately after giving effect to the exercise.
  3. F3. The Reporting Person will not be entitled to exercise any portion of a Series C Warrant that, upon giving effect to such exercise, would cause the aggregate number of shares beneficially owned by the Reporting Person to exceed 19.99% of the number of shares of the Issuer's common stock outstanding immediately after giving effect to the exercise.

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SEC Form 3
FORM 3 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

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: 3235-0104
Estimated average burden
hours per response: 0.5
1. Name and Address of Reporting Person*
BKB Growth Investments, LLC
(Last) (First) (Middle)
C/O TIGER LILY CAPITAL, LLC
200 GARRETT STREET, SUITE S
(Street)
CHARLOTTESVILLE VA 22902
(City) (State) (Zip)
2. Date of Event Requiring Statement (Month/Day/Year)
11/25/2025 		3. Issuer Name and Ticker or Trading Symbol
Verrica Pharmaceuticals Inc. [ VRCA ]
4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director X 10% Owner
Officer (give title below) Other (specify below)
5. If Amendment, Date of Original Filed (Month/Day/Year)
6. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4) 2. Amount of Securities Beneficially Owned (Instr. 4) 3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) 4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock 3,348,372 D
Table II - Derivative Securities Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4) 2. Date Exercisable and Expiration Date (Month/Day/Year) 3. Title and Amount of Securities Underlying Derivative Security (Instr. 4) 4. Conversion or Exercise Price of Derivative Security 5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) 6. Nature of Indirect Beneficial Ownership (Instr. 5)
Date Exercisable Expiration Date Title Amount or Number of Shares
Series B Warrants (right to buy) (1)(2) 11/22/2029 Common Stock 224,719 $1.335 D
Series C Warrants (right to buy) (1)(3) 11/25/2030 Common Stock 687,690 $6.315 D
Explanation of Responses:
1. Immediately exercisable.
2. The Reporting Person will not be entitled to exercise any portion of a Series B Warrant that, upon giving effect to such exercise, would cause the aggregate number of shares beneficially owned by the Reporting Person to exceed 19.99% of the number of shares of the Issuer's common stock outstanding immediately after giving effect to the exercise.
3. The Reporting Person will not be entitled to exercise any portion of a Series C Warrant that, upon giving effect to such exercise, would cause the aggregate number of shares beneficially owned by the Reporting Person to exceed 19.99% of the number of shares of the Issuer's common stock outstanding immediately after giving effect to the exercise.
BKB Growth Investments, LLC, By: Tiger Lily Capital, LLC, its manager By: /s/ Paul Manning, its manager 01/26/2026
** 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 5 (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.

Source: View Original Filing on SEC EDGAR