Form 4: Athyrium Funds Report Beneficial Ownership Change in Biora Therapeutics

Athyrium Opportunities III Co-Invest 1 LP and related entities report acquisition of convertible notes in Biora Therapeutics as payment-in-kind interest.

Summary

• Athyrium Opportunities III Co-Invest 1 LP, along with related entities including Athyrium Opportunities III Acquisition LP, Athyrium Opportunities III Acquisition 2 LP, Athyrium Opportunities 2020 LP, and others, filed a Form 4 regarding changes in beneficial ownership of Biora Therapeutics, Inc. securities.
• The report indicates the acquisition of 11.00%/13.00% Convertible Senior Secured Notes due 2028 by Athyrium Opportunities III Acquisition LP and Athyrium Opportunities III Co-Invest 1 LP on July 2, 2024.
• These notes were issued as payment-in-kind interest.
• Athyrium Opportunities III Acquisition LP received $245,700 aggregate principal amount of the convertible notes.
• Athyrium Opportunities III Co-Invest 1 LP received $771,206 aggregate principal amount of the convertible notes.
• The notes are convertible into 651,862 shares of common stock.
• The total amount of convertible notes beneficially owned following the reported transaction is $18,399,906.
• Jeffrey Ferrell and related entities have indirect beneficial ownership, but disclaim ownership except to the extent of their pecuniary interest.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing, so the sentiment is neutral. It simply reports a transaction.

Industry Context

Form 4 filings are standard practice for reporting changes in beneficial ownership by insiders, providing transparency to the market regarding the holdings and transactions of key individuals and entities associated with a company.

Stakeholder Impact

• Shareholders are informed about changes in ownership structure.
• Creditors may be interested in the issuance of new debt.

Key Dates

Keywords

Form 4, beneficial ownership, Biora Therapeutics, convertible notes, Athyrium, payment-in-kind, BIOR