SCHEDULE: Magnetar Reports Zero Astria Therapeutics Shares Post-Merger

Magnetar Financial and its affiliates report the cancellation of all 3.43 million Astria Therapeutics shares following the company's merger at $8.55 per share.

Summary

• Magnetar Financial LLC, Magnetar Capital Partners LP, Supernova Management LLC, and David J. Snyderman filed an Amendment No. 1 to Schedule 13D regarding Astria Therapeutics, Inc.
• The filing reports on the disposition of shares of Astria Therapeutics, Inc. following a merger.
• On January 23, 2026, Astria Therapeutics, Inc. consummated a merger where each issued and outstanding share was cancelled and converted into the right to receive $8.55 in cash, without interest.
• The Reporting Persons' 3,431,007 shares were cancelled and converted into cash at $8.55 per share.
• These shares were held for the benefit of PRA Master Fund (1,560,502 shares), Systematic Master Fund (804,159 shares), Relative Value Master Fund (221,576 shares), and two Managed Accounts (844,770 shares).
• As of the closing of the merger on January 23, 2026, the Reporting Persons beneficially own 0 shares of Astria Therapeutics, Inc.
• Since the previous Schedule 13D filing on October 24, 2025, the Reporting Persons purchased 118,805 shares for an aggregate of $1,501,294.83 (excluding commissions and other execution-related costs).
• A specific transaction on December 19, 2025, involved the purchase of 2,800 shares at a weighted average price of $12.65 per share.

Sentiment

Score: 5

Explanation: The filing is a factual report of a completed merger and the subsequent disposition of shares. While the merger itself provides liquidity, the reported purchase price for some recent acquisitions by the reporting persons was higher than the merger consideration, indicating a loss on those specific shares.

Positives

• Reporting Persons successfully exited their position in Astria Therapeutics, Inc. through the completed merger.
• Shareholders of Astria Therapeutics received a definitive cash payment of $8.55 per share, providing liquidity.

Negatives

• The merger price of $8.55 per share is lower than the $12.65 weighted average purchase price for 2,800 shares acquired on December 19, 2025, indicating a loss on those specific shares for the Reporting Persons.
• The filing does not provide details on the overall profitability of the 3.43 million shares held by Magnetar, but the recent purchase suggests a potential loss on a portion of their holdings.

Future Outlook

NA

Industry Context

The filing details the final disposition of shares by a significant institutional investor following the acquisition of Astria Therapeutics, Inc., a common occurrence in the biotechnology sector where smaller firms are often acquired by larger entities.

Stakeholder Impact

• Shareholders of Astria Therapeutics: Received $8.55 cash per share, providing a definitive exit and liquidity.
• Reporting Persons (Magnetar affiliates): Realized their investment in Astria Therapeutics, with some recent purchases indicating a loss on those specific shares.

Key Dates

Keywords

Astria Therapeutics, Magnetar Financial, Schedule 13D, Merger, Share Disposition, Institutional Ownership, Biotech Acquisition