SCHEDULE: Linden Capital Updates SkinHealth Systems Stake

Linden Capital Partners reports a change in its percentage ownership of SkinHealth Systems Inc. due to an increase in the issuer's outstanding shares.

Summary

• Linden Capital Partners and associated entities (LCP) maintain beneficial ownership of 33,360,741 shares of SkinHealth Systems Inc. Class A Common Stock.
• The reported ownership stake is now 25.74% of the total outstanding Class A shares.
• The change in percentage is attributed solely to an increase in the total number of outstanding shares reported in the issuer's May 7, 2026, Form 10-Q.
• No actual transactions involving the purchase or sale of shares have occurred by the reporting persons in the last 60 days.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral administrative filing, as it reflects a change in ownership percentage due to share dilution rather than a change in investment conviction.

Positives

• The reporting group maintains a significant, stable long-term equity position of over 25% in the company.

Negatives

• The reporting group's percentage ownership has been diluted due to the issuance of additional shares by the company.

Risks

• Potential dilution of existing shareholder interests if the company continues to issue additional shares.

Future Outlook

No specific forward-looking guidance or strategic changes were provided in this filing; it is strictly a disclosure of ownership status.

Industry Context

StockSavvy.ai notes that this filing is a standard regulatory update regarding significant shareholder positions. It reflects the common practice of private equity firms maintaining long-term stakes in portfolio companies while adjusting for capital structure changes.

Comparison to Industry Standards

• The 25.74% ownership stake is consistent with typical private equity 'significant influence' thresholds.
• The filing follows standard SEC disclosure requirements for beneficial owners exceeding 5% of a class of equity.

Stakeholder Impact

• Existing shareholders may note the dilution of the major shareholder's position, which may indicate recent capital raising activities by the company.

Next Steps

• Continued monitoring of SkinHealth Systems' share count and potential future filings by Linden Capital Partners.

Key Dates

Keywords

SkinHealth Systems, Schedule 13D, Linden Capital Partners, Beneficial Ownership, Equity Dilution