SCHEDULE: Sands Capital Adjusts Alamar Biosciences Stake Post-Director Passing

Sands Capital Life Sciences Pulse Fund II, L.P. reports a 6.1% stake in Alamar Biosciences, Inc. following the passing of board member Ian Ratcliffe.

Summary

• Sands Capital Life Sciences Pulse Fund II, L.P. (Sands Pulse Fund II) holds 4,230,926 shares of Alamar Biosciences, Inc. (Issuer) common stock, representing approximately 6.1% of the outstanding shares.
• This filing is an amendment to a previous Schedule 13D, primarily to report the change in the Reporting Persons' relationship with the Issuer's board of directors.
• Ian Ratcliffe, an Executive Managing Partner at Sands Capital and an Executive Managing Director at Sands Capital Alternatives, passed away on July 5, 2026, and consequently ceased to serve on the Issuer's board of directors.
• Sands Capital Alternatives, as the investment manager of Sands Pulse Fund II, and Frank M. Sands, due to his ultimate voting and investment power, may be deemed to beneficially own these shares.
• The Reporting Persons acquired and hold the shares for investment purposes and may purchase or dispose of additional securities based on their evaluation of the Issuer's business, prospects, and market conditions.
• The Reporting Persons may engage in communications with the Issuer's management and shareholders regarding the company's operations and strategic direction.
• No other employee, officer, partner, or affiliated person of any Reporting Person currently serves on the Issuer's board, and the Reporting Persons do not currently intend to seek board representation.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral filing, primarily an administrative update due to a director's passing, with no immediate change in investment strategy or significant new information impacting the company's valuation.

Positives

• Sands Capital maintains a significant investment in Alamar Biosciences, indicating continued confidence in the company's long-term prospects.
• The reporting persons have the flexibility to adjust their holdings based on market conditions and company performance, allowing for strategic capital deployment.
• The company's outstanding shares are clearly stated as 69,311,186 as of April 30, 2026, providing transparency for investors.

Negatives

• The passing of Ian Ratcliffe, a key figure associated with Sands Capital and a former board member of Alamar Biosciences, represents a loss of a potentially influential connection.
• The filing does not indicate any immediate plans for board representation by Sands Capital, suggesting a passive investment approach for now.

Risks

• The Reporting Persons may purchase additional securities depending on their evaluation of the Issuer's business, prospects, and financial condition, which could lead to increased market activity.
• The Reporting Persons may dispose of all or a portion of their securities at any time, which could impact the Issuer's stock price.
• General economic, money market, and stock market conditions could influence the Reporting Persons' investment decisions and potentially affect the Issuer's stock.

Future Outlook

The Reporting Persons may purchase additional securities or dispose of existing holdings depending on their evaluation of the Issuer's business, prospects, financial condition, market conditions, and other factors. They reserve the right to increase or decrease their holdings at any time and may engage in communications with the Issuer regarding its operations and strategic direction.

Management Comments

• Ian Ratcliffe, an Executive Managing Partner of the Life Sciences Pulse strategy and an Executive Managing Director of Sands Capital Alternatives, served on the Issuer's board of directors. Following Mr. Ratcliffe's passing on July 5, 2026, he ceased to serve as a member of the Issuer's board of directors.
• No other employee, officer, partner or other affiliated person of any Reporting Person currently serves on the Issuer's board of directors, and the Reporting Persons do not currently intend to seek board representation.
• Each of the Reporting Persons reserves the right to increase or decrease its holdings on such terms and at such times as each may decide.

Industry Context

StockSavvy.ai notes that this Schedule 13D amendment reflects a common occurrence in the investment landscape where significant shareholders adjust their reporting following changes in key personnel or strategic shifts. The focus on life sciences by Sands Capital suggests an ongoing interest in companies within this sector, despite the loss of a board liaison.

Management Changes

Stakeholder Impact

• Shareholders: The potential for Sands Capital to increase or decrease its holdings could influence stock price and market dynamics.
• Management and Board of Directors: The loss of a board member connected to a significant shareholder may alter board dynamics and communication channels.
• Employees: Continued investment by Sands Capital may signal stability or potential growth, indirectly impacting employee confidence.

Next Steps

• Sands Capital may purchase additional securities of Alamar Biosciences, Inc.
• Sands Capital may dispose of all or a portion of their securities of Alamar Biosciences, Inc.
• Sands Capital may engage in communications with persons associated with Alamar Biosciences, Inc. regarding its operations and strategic direction.

Key Dates

Keywords

Alamar Biosciences, Sands Capital, Schedule 13D, Beneficial Ownership, Investment, Common Stock, SEC Filing, Board of Directors, Life Sciences