Form 4: Ambiq Micro Director Converts Preferred Stock to Common Ahead of IPO

Wen Hsuan Hsieh, a Director and 10% owner of Ambiq Micro, Inc., reported the conversion of 394,989 shares of Series G Convertible Preferred Stock into Common Stock, effective July 31, 2025, in anticipation of the company's initial public offering.

Summary

• Wen Hsuan Hsieh, a Director and 10% owner of Ambiq Micro, Inc. (AMBQ), reported a change in beneficial ownership.
• The transaction involves the conversion of 394,989 shares of Series G Convertible Preferred Stock into an equal number of Common Stock shares.
• The conversion occurred on a one-for-one basis automatically, immediately prior to the closing of the Issuer's initial public offering (IPO) of common stock.
• The transaction is dated July 31, 2025.
• The shares are beneficially owned indirectly by Matter Venture Partners Fund I, L.P., over which the reporting person exercises sole voting and dispositive control.
• This transaction was made pursuant to a Rule 10b5-1(c) plan, indicating a pre-arranged purchase or sale of equity securities.

Sentiment

Score: 7

Explanation: The filing reports a standard, expected corporate action (preferred stock conversion) in anticipation of an IPO, which is generally a positive development for a company. There are no negative implications from this specific transaction.

Positives

• The conversion of preferred stock to common stock is a standard and necessary step for companies preparing for an Initial Public Offering (IPO), streamlining the capital structure.
• The reporting person, a Director and 10% owner, maintains significant beneficial ownership in the company, indicating continued alignment with shareholder interests.

Future Outlook

The filing indicates that the conversion of preferred stock to common stock is occurring immediately prior to the closing of the Issuer's initial public offering of common stock, signaling an upcoming IPO for Ambiq Micro, Inc.

Industry Context

This type of preferred stock conversion is a routine corporate action in the semiconductor or technology industry for private companies transitioning to public ownership via an IPO, simplifying the equity structure for public trading.

Comparison to Industry Standards

• The one-for-one conversion ratio is a common standard for preferred stock conversions prior to an IPO, ensuring a straightforward transition to common equity.
• The use of a Rule 10b5-1 plan for such a transaction is standard practice for insiders to manage their equity holdings in a compliant manner, particularly in anticipation of significant corporate events like an IPO.

Related Party Transactions

• The beneficial ownership is held indirectly through Matter Venture Partners Fund I, L.P., where the reporting person exercises sole voting and dispositive control.

Stakeholder Impact

• Shareholders: The conversion simplifies the equity structure, making it more transparent for future public investors.
• Potential Investors: Provides clarity on the company's capital structure ahead of its anticipated IPO.

Next Steps

• The closing of Ambiq Micro, Inc.'s initial public offering of common stock is implied as the next significant event following this conversion.

Key Dates

Keywords

Ambiq Micro, AMBQ, Form 4, SEC filing, insider transaction, beneficial ownership, preferred stock conversion, common stock, IPO, Rule 10b5-1, Matter Venture Partners