SCHEDULE 13G/A: RA Capital Management Affirms Significant 7.2% Stake in Adagio Medical Holdings, Inc.

RA Capital Management, L.P. and its affiliates have filed an amended Schedule 13G, reporting a continued beneficial ownership of 7.2% of Adagio Medical Holdings, Inc.'s common stock as of March 31, 2025.

Summary

• RA Capital Management, L.P., Peter Kolchinsky, and Rajeev Shah collectively report beneficial ownership of 1,200,000 shares of Adagio Medical Holdings, Inc. common stock.
• This aggregate ownership represents 7.2% of the company's outstanding common stock.
• RA Capital Healthcare Fund, L.P. beneficially owns 1,140,000 shares, which accounts for 6.9% of the class.
• The reported shares include 1,140,000 shares issuable upon the exercise of immediately exercisable warrants directly held by RA Capital Healthcare Fund, L.P.
• An additional 60,000 shares are issuable upon the exercise of immediately exercisable warrants directly held by RA Capital Nexus Fund II, L.P.
• The percentage ownership is calculated based on 15,381,565 shares of common stock outstanding as of March 21, 2025, as reported in the Issuer's Annual Report on Form 10-K filed on March 27, 2025, plus the 1,200,000 shares from warrants.
• The Reporting Persons expressly disclaim status as a 'group' for purposes of this Schedule 13G.
• RA Capital serves as the investment adviser for both RA Capital Healthcare Fund, L.P. and RA Capital Nexus Fund II, L.P., and holds shared voting and dispositive power over the reported securities.

Sentiment

Score: 5

Explanation: Neutral. This is a routine regulatory filing (Schedule 13G amendment) disclosing beneficial ownership, not providing performance or strategic updates from the company itself. It indicates a significant, continued stake by an institutional investor.

Positives

• The filing confirms a continued significant institutional investment by RA Capital Management, a healthcare-focused fund, in Adagio Medical Holdings, Inc., which may signal ongoing confidence in the company's long-term prospects.

Future Outlook

This document is a regulatory filing disclosing beneficial ownership and does not contain any forward-looking statements or guidance from Adagio Medical Holdings, Inc. regarding its operations or financial performance.

Industry Context

This filing indicates continued investment by a prominent healthcare-focused investment firm, RA Capital Management, in Adagio Medical Holdings, Inc. This suggests ongoing interest and potential belief in the value proposition within the healthcare sector, particularly for companies like Adagio Medical Holdings.

Stakeholder Impact

• Confirms continued significant institutional investment in Adagio Medical Holdings, Inc., potentially signaling confidence to other shareholders and the market.

Key Dates

Keywords

Adagio Medical Holdings, RA Capital Management, Schedule 13G, Beneficial Ownership, Common Stock, Warrants, Institutional Investor, Healthcare Investment, SEC Filing