SCHEDULE 13G/A: FIL Limited and Affiliates Maintain 7.8% Stake in ADAGENE INC Common Stock
Beneficial Ownership Report
FIL Limited, along with Pandanus Partners, L.P. and Pandanus Associates, Inc., has reported a continued beneficial ownership of 7.8% in ADAGENE INC's common stock as of December 31, 2024.
Summary
- FIL Limited, Pandanus Partners, L.P., and Pandanus Associates, Inc. jointly filed an amendment to their Schedule 13G, reporting beneficial ownership in ADAGENE INC.
- As of December 31, 2024, the reporting persons collectively beneficially own 4,093,497.50 shares of ADAGENE INC's common stock.
- This aggregate amount represents 7.8% of the total outstanding common stock of ADAGENE INC.
- FIL Limited holds sole voting power and sole dispositive power over all 4,093,497.50 shares.
- Pandanus Partners, L.P. and Pandanus Associates, Inc. each hold sole dispositive power over the same 4,093,497.50 shares, but no sole or shared voting power.
- Asia Ventures II Limited Partnership is also known to have the right to receive dividends or proceeds from these 4,093,497.50 shares, representing 7.8% of the class.
Sentiment
Score: 5
Explanation: The document is a routine beneficial ownership disclosure (Schedule 13G amendment) and does not contain information that would inherently indicate positive or negative sentiment regarding the company's performance or outlook. It is a factual report of an existing stake.
Positives
- A significant institutional investor, FIL Limited, continues to hold a substantial 7.8% stake in ADAGENE INC, indicating continued confidence or long-term investment.
Corporate Governance
| Change Type | Description | Effective Date | Impact Assessment |
|---|---|---|---|
| Reporting Structure Clarification | The filing clarifies the reporting structure, noting that Pandanus Partners, L.P. owns shares of FIL Limited voting stock, and Pandanus Associates, Inc. acts as the general partner of Pandanus. Pandanus is owned by trusts for the benefit of members of the Johnson family, though beneficial ownership is disclaimed for these members. | 2024-12-31 | Provides transparency on the ownership and control structure of the reporting entities, which is standard for beneficial ownership filings. |
| Joint Filing Agreement | FIL Limited, Pandanus Partners, L.P., and Pandanus Associates, Inc. have agreed and consented to the joint filing of this Schedule 13G. | 2025-02-11 | Ensures compliance with SEC regulations for group beneficial ownership reporting. |
Related Party Transactions
- Pandanus Partners, L.P. owns shares of FIL Limited voting stock, representing between 25% and 48.5% of the total votes. Pandanus Associates, Inc. acts as the general partner of Pandanus. Pandanus is owned by trusts for the benefit of members of the Johnson family, including FIL's Chairman Abigail P. Johnson, though beneficial ownership of the reported securities is disclaimed by these family members.
Stakeholder Impact
- Shareholders: Provides transparency regarding a significant institutional investor's continued stake in the company, which can be a signal of long-term interest.
- Regulatory Authorities: Fulfills mandatory disclosure requirements under the Securities Exchange Act of 1934, ensuring compliance and market transparency.
Key Dates
| Date | Description |
|---|---|
| 2022-12-19 | Effective date of Power of Attorney for FIL Limited, Pandanus Partners, L.P., and Pandanus Associates, Inc. |
| 2023-01-31 | Date of previous Schedule 13G filing by FIL Limited (accession number -23-000005) where the Power of Attorney was incorporated by reference. |
| 2024-12-31 | Date of event which requires the filing of this statement (beneficial ownership snapshot date). |
| 2025-02-11 | Filing date of the Schedule 13G Amendment No. 1. |
Keywords
ADAGENE INC, beneficial ownership, Schedule 13G, common stock, institutional investor, FIL Limited, Pandanus Partners, Pandanus Associates, equity stake
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