SCHEDULE 13G: Bigger Capital Reduces Stake in Aptevo Therapeutics Below 5% Threshold

Bigger Capital Fund L P and its affiliates have significantly reduced their beneficial ownership in Aptevo Therapeutics Inc., falling below the 5% reporting threshold as of June 20, 2025.

Summary

• Bigger Capital Fund L P, Bigger Capital Fund GP, LLC, and Michael Bigger (collectively, the "Reporting Persons") previously held 285,000 shares of Aptevo Therapeutics Inc. Common Stock.
• This ownership represented 9.95% of the outstanding Common Stock, based on 2,864,156 shares outstanding immediately after the offering.
• The beneficial ownership calculation did not include 12,875 shares issuable upon exercise of Pre-Funded Warrants, subject to a 9.99% beneficial ownership limitation.
• It also excluded 1,532,364 shares issuable upon exercise of Common Warrants, subject to a 4.99% beneficial ownership limitation, with 1,489,375 of these requiring shareholder approval.
• As of the close of business on June 20, 2025, the Reporting Persons sold their Common Stock, including shares issuable upon exercise of Pre-Funded Warrants.
• Following these sales, the Reporting Persons are no longer beneficial owners of at least 5.00% of Aptevo Therapeutics Inc.'s Common Stock.

Sentiment

Score: 3

Explanation: The significant reduction of a major investor's stake from 9.95% to below 5% is a strong negative signal, indicating a lack of continued confidence or a strategic exit by the investor.

Negatives

• A significant investor, Bigger Capital, has reduced its beneficial ownership in Aptevo Therapeutics Inc. from 9.95% to below the 5% reporting threshold, indicating a substantial divestment of its stake.

Risks

• 12,875 shares of Common Stock issuable upon exercise of Pre-Funded Warrants were subject to a 9.99% beneficial ownership limitation.
• 1,532,364 shares of Common Stock issuable upon exercise of Common Warrants were subject to a 4.99% beneficial ownership limitation, with 1,489,375 of these requiring shareholder approval and not being exercisable as of the filing date.

Future Outlook

No forward-looking statements or guidance from Aptevo Therapeutics Inc. are provided in this filing.

Industry Context

This filing reflects a specific investor's change in stake and does not provide broader industry trends or context.

Stakeholder Impact

• Shareholders may view the divestment by a significant investor as a negative indicator, potentially leading to decreased investor confidence and downward pressure on the stock price.

Key Dates

Recommendation

Keywords

Aptevo Therapeutics, Bigger Capital, Schedule 13G, beneficial ownership, common stock, warrants, SEC filing, investor stake, ownership change