Form 4: Foresite Capital Entities Report Conversion and Acquisition of Alumis Inc. Shares Following IPO

Foresite Capital and related entities report the conversion of preferred stock to common stock and acquisition of additional shares in Alumis Inc. following its initial public offering.

Summary

• Foresite Capital Management V, LLC, along with affiliated funds and entities, filed a Form 4 detailing changes in beneficial ownership of Alumis Inc. (ALMS) common stock on July 1, 2024.
• The filing reports the automatic conversion of Series Seed, Series A, Series B-1, Series B-2, and Series C redeemable convertible preferred stock into common stock upon the closing of Alumis Inc.'s IPO.
• Foresite Capital Fund V, L.P. acquired 1,944,577 shares of common stock through the conversion of preferred stock.
• Labs Co-Invest V, LLC acquired 194,459 shares of common stock through the conversion of preferred stock.
• Foresite Capital Opportunity Fund V, L.P. acquired 1,122,994 shares of common stock through the conversion of preferred stock.
• Foresite Labs Fund I, L.P. acquired 967,567 shares of common stock through the conversion of preferred stock.
• Foresite Capital Fund VI, L.P. acquired 311,172 shares of common stock through the conversion of preferred stock.
• Additional common stock was purchased at a price of $16 per share, with Foresite Capital Fund V, L.P. purchasing 312,500 shares and Foresite Capital Fund VI, L.P. purchasing 2,187,500 shares.
• The reporting persons disclaim beneficial ownership of the shares held by their respective funds, except to the extent of their pecuniary interest.
• James B. Tananbaum, as managing member of various Foresite Capital entities, signed the Form 4 on July 3, 2024.

Sentiment

Score: 7

Explanation: The sentiment is moderately positive as it reflects continued investment and conversion of equity, indicating confidence from a major shareholder, Foresite Capital, in Alumis Inc. post-IPO.

Positives

• The conversion of preferred stock to common stock indicates confidence in Alumis Inc.'s future prospects following its IPO.
• The acquisition of additional shares at $16 per share suggests a belief in the company's valuation and potential for growth.
• Foresite Capital's continued investment demonstrates ongoing support for Alumis Inc.

Future Outlook

The document does not contain specific forward-looking statements, but the transactions suggest a positive outlook from Foresite Capital regarding Alumis Inc.'s future performance.

Industry Context

Form 4 filings are standard practice for reporting changes in beneficial ownership by insiders and major shareholders, providing transparency to the market regarding their investment activities.

Comparison to Industry Standards

• Form 4 filings are a standard regulatory requirement for publicly traded companies, ensuring transparency in insider trading and ownership changes.
• The reported transactions are typical for venture capital firms following the IPO of a portfolio company, involving the conversion of preferred stock and potential further investment.
• Comparable companies would be other biotech firms with venture capital backing that have recently undergone an IPO, such as those tracked by the Renaissance IPO ETF (ticker: IPO).

Stakeholder Impact

• The transactions could positively impact shareholders by signaling confidence from a major investor.
• Employees may view the continued investment as a positive sign for the company's stability and growth prospects.

Key Dates