Adage Capital discloses 15,016,500-share (9.65%) passive WVE position on Schedule 13G

Rhea-AI Filing Summary

Adage Capital Management, L.P., together with Robert Atchinson and Phillip Gross, reports beneficial ownership of 15,016,500 ordinary shares of Wave Life Sciences, representing 9.65% of the class based on 155,562,665 ordinary shares outstanding as reported in the company's proxy. The filing is submitted on Schedule 13G (Amendment No. 4) and shows 0 sole voting or dispositive power and 15,016,500 shares of shared voting and dispositive power, held through Adage Capital Partners, L.P.

The filing includes a certification that the securities were acquired and are held in the ordinary course of business and were not acquired to change or influence control of the issuer, indicating a stated passive investment intent.

Positive

• Reporting Persons collectively beneficially own 15,016,500 shares, representing 9.65% of the outstanding ordinary shares as reported in the company's proxy
• Filing is on Schedule 13G with a certification that the securities were acquired and are held in the ordinary course and not to influence control, indicating declared passive intent

Negative

• Reporting Persons have 0 shares of sole voting or dispositive power, limiting any unilateral governance control
• No disclosure of activist intent or plans to change control, which means the sizable stake does not come with an announced strategic or governance agenda

Insights

Financial Analyst

TL;DR: Adage holds a material 9.65% passive stake (15,016,500 shares) in WVE with shared voting and dispositive power.

The filing discloses a significant ownership position sized at 15,016,500 shares, equal to 9.65% of the reported 155,562,665 outstanding ordinary shares. Ownership is reported as shared voting and dispositive power with 0 shares of sole control, and the Schedule 13G includes a certification that the position is held in the ordinary course and not to influence control. From an investor perspective, this is a material passive stake that should be tracked for any future filings indicating a change in intent or level of control.

Corporate Governance Expert

TL;DR: Schedule 13G filing indicates passive intent; shared voting/dispositive power is disclosed but no claim of sole control.

The reporting persons are identified as Adage Capital Management, L.P. and two individuals who act as managing members of the relevant Adage entities that hold the shares. The statement explicitly records shared voting and dispositive power over 15,016,500 shares and confirms the holdings were not acquired to change or influence issuer control. This filing therefore communicates a sizable, declaredly passive ownership position rather than an active governance or control campaign.

FAQ

How many WVE shares does Adage Capital report owning?

Adage Capital and the reporting persons report beneficial ownership of 15,016,500 shares of Wave Life Sciences.

What percentage of WVE does the 15,016,500 shares represent?

The reported position represents 9.65% of the outstanding ordinary shares, based on 155,562,665 shares reported in the company's proxy.

Does Adage have sole voting or dispositive power over these WVE shares?

No. The filing reports 0 shares of sole voting power and 0 shares of sole dispositive power, with 15,016,500 shares reported as shared voting and dispositive power.

What type of SEC filing was submitted for the WVE position?

The position was disclosed on a Schedule 13G (Amendment No. 4) filing.

Did the filing state whether the stake was acquired to influence control of WVE?

Yes. The filing includes a certification that the securities were acquired and are held in the ordinary course of business and were not acquired to change or influence control of the issuer.

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

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Accepted by SEC EDGAR 08/12/2025 - 09:04 AM Learn about SEC filing dates

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 4)

Wave Life Sciences Ltd.

(Name of Issuer)

Ordinary Shares, no par value

(Title of Class of Securities)

Y95308105

(CUSIP Number)

06/30/2025

(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. Y95308105

1

Names of Reporting Persons

Adage Capital Management, L.P.

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 0.00
6	Shared Voting Power 15,016,500.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 15,016,500.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

15,016,500.00

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)

9.65 %

12

Type of Reporting Person (See Instructions)

IA, PN

SCHEDULE 13G

CUSIP No. Y95308105

1

Names of Reporting Persons

Robert Atchinson

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

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 15,016,500.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 15,016,500.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

15,016,500.00

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)

9.65 %

12

Type of Reporting Person (See Instructions)

HC, IN

SCHEDULE 13G

CUSIP No. Y95308105

1

Names of Reporting Persons

Phillip Gross

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

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 15,016,500.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 15,016,500.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

15,016,500.00

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)

9.65 %

12

Type of Reporting Person (See Instructions)

HC, IN

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Wave Life Sciences Ltd.
(b)	Address of issuer's principal executive offices: 7 Straits View #12-00, Marina One, East Tower, Singapore 018936, Singapore
Item 2.
(a)	Name of person filing: This statement is filed by: (i) Adage Capital Management, L.P., a Delaware limited partnership ("ACM"), as the investment manager of Adage Capital Partners, L.P., a Delaware limited partnership ("ACP"), with respect to the ordinary shares, no par value ("Ordinary Shares") of Wave Life Sciences Ltd., a Singapore company (the "Company") directly held by ACP; (ii) Robert Atchinson ("Mr. Atchinson"), as (1) managing member of Adage Capital Advisors, L.L.C., a limited liability company organized under the laws of the State of Delaware ("ACA"), managing member of Adage Capital Partners GP, L.L.C., a limited liability company organized under the laws of the State of Delaware ("ACPGP"), general partner of ACP and (2) managing member of Adage Capital Partners LLC, a Delaware limited liability company ("ACPLLC"), general partner of ACM, with respect to the Ordinary Shares directly held by ACP; and (iii) Phillip Gross ("Mr. Gross"), as (1) managing member of ACA, managing member of ACPGP and (2) managing member of ACPLLC, general partner of ACM, with respect to the Ordinary Shares directly held by ACP. The foregoing persons are hereinafter sometimes collectively referred to as the "Reporting Persons." Any disclosures herein with respect to persons other than the Reporting Persons are made on information and belief after making inquiry to the appropriate party. The filing of this statement should not be construed in and of itself as an admission by any Reporting Person as to beneficial ownership of the securities reported herein.
(b)	Address or principal business office or, if none, residence: The address of the business office of each of the Reporting Persons is 200 Clarendon Street, 52nd Floor, Boston, Massachusetts 02116.
(c)	Citizenship: ACM is a limited partnership organized under the laws of the State of Delaware. Messrs. Gross and Atchinson are citizens of the United States.
(d)	Title of class of securities: Ordinary Shares, no par value
(e)	CUSIP No.: Y95308105
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: The information required by Item 4(a) is set forth in Row 9 of the cover page for each of the Reporting Persons and is incorporated herein by reference. The percentage set forth in this Schedule 13G is calculated based upon an aggregate of 155,562,665 Ordinary Shares outstanding as of June 6, 2025, as reported in the Company's Definitive Proxy Statement on Schedule 14A, filed with the Securities and Exchange Commission on June 23, 2025.
(b)	Percent of class: 9.65%
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: The information required by Item 4(c)(i) is set forth in Row 5 of the cover page for each of the Reporting Persons and is incorporated herein by reference.
	(ii) Shared power to vote or to direct the vote: The information required by Item 4(c)(ii) is set forth in Row 6 of the cover page for each of the Reporting Persons and is incorporated herein by reference.
	(iii) Sole power to dispose or to direct the disposition of: The information required by Item 4(c)(iii) is set forth in Row 7 of the cover page for each of the Reporting Persons and is incorporated herein by reference.
	(iv) Shared power to dispose or to direct the disposition of: The information required by Item 4(c)(iv) is set forth in Row 8 of the cover page for each of the Reporting Persons and is incorporated herein by reference.
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. See Item 2(a).
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 acquired and are held in the ordinary course of business and 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.

Adage Capital Management, L.P.

Signature:	/s/ Robert Atchinson
Name/Title:	By: Adage Capital Partners LLC, its General Partner, By: Robert Atchinson, its Managing Member
Date:	08/12/2025

Robert Atchinson

Signature:	/s/ Robert Atchinson
Name/Title:	Robert Atchinson, individually
Date:	08/12/2025

Phillip Gross

Signature:	/s/ Phillip Gross
Name/Title:	Phillip Gross, individually
Date:	08/12/2025