SCHEDULE 13G/A: TCG Crossover Entities Disclose 8.9% Passive Stake in Adverum Biotechnologies

TCG Crossover Fund II, L.P., TCG Crossover GP II, LLC, and Chen Yu have jointly disclosed a passive beneficial ownership of 8.9% in Adverum Biotechnologies, Inc., totaling 1,871,482 shares.

Summary

• TCG Crossover Fund II, L.P. (TCG Crossover II), TCG Crossover GP II, LLC (TCG Crossover GP II), and Chen Yu (collectively, the Reporting Persons) have filed an Amendment No. 1 to their Schedule 13G.
• The Reporting Persons collectively beneficially own 1,871,482 shares of Adverum Biotechnologies, Inc. Common Stock.
• This ownership represents 8.9% of the Issuer's outstanding Common Stock.
• The total beneficially owned shares consist of 1,796,482 shares of Common Stock and 75,000 shares of Common Stock issuable upon exercise of certain Pre-Funded Warrants.
• The percentage of class is calculated based on 20,890,540 shares of Common Stock outstanding as reported in the Issuer's Form 10-K filed on April 15, 2025, plus the 75,000 shares from Pre-Funded Warrants.
• TCG Crossover GP II is the general partner of TCG Crossover II, and Chen Yu is the sole managing member of TCG Crossover GP II, granting them shared voting and dispositive power over the securities.
• The filing states that the securities were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer.

Sentiment

Score: 5

Explanation: The document is a factual disclosure of beneficial ownership and does not contain information that would indicate a positive or negative sentiment regarding the company's performance or outlook.

Future Outlook

NA

Industry Context

This filing is a standard disclosure of a significant passive ownership stake by an investment entity in a biotechnology company. Such disclosures are common and reflect investment positions rather than operational or strategic shifts within the industry.

Stakeholder Impact

• Shareholders: The disclosure of a significant passive stake by institutional investors can provide transparency regarding the ownership structure and potentially signal confidence from large investors, though it does not imply active management involvement.

Key Dates

Keywords

Adverum Biotechnologies, TCG Crossover, Beneficial Ownership, Schedule 13G, Common Stock, Pre-Funded Warrants, Biotechnology, Investment Fund, Passive Investment