Form 4: ARCH Venture Funds Report Beneficial Ownership Changes in Boundless Bio Following IPO

ARCH Venture Funds converted preferred stock to common stock and purchased additional shares in Boundless Bio's initial public offering, resulting in adjustments to their beneficial ownership.

Summary

• ARCH Venture Fund IX, L.P., along with affiliated entities, reported changes in beneficial ownership of Boundless Bio, Inc. common stock on April 2, 2024.
• The changes are due to the conversion of preferred stock into common stock upon the closing of Boundless Bio's initial public offering (IPO).
• ARCH Venture Fund IX, L.P. converted 589,743 shares of preferred stock into common stock.
• ARCH Venture Fund IX Overage, L.P. converted 787,545 shares of preferred stock into common stock.
• ARCH Venture Fund X Overage, L.P. converted 1,048,433 shares of preferred stock into common stock.
• Additionally, ARCH Venture Fund IX, L.P. purchased 66,667 shares of common stock at $16 per share in the IPO.
• ARCH Venture Fund X Overage, L.P. purchased 133,333 shares of common stock at $16 per share in the IPO.
• Following these transactions, ARCH Venture Funds maintain indirect beneficial ownership of Boundless Bio common stock.
• The reporting persons include ARCH Venture Fund IX, L.P., ARCH Venture Fund IX Overage, L.P., ARCH Venture Fund X Overage, L.P., and their respective general partners and managing directors.
• These entities and individuals disclaim beneficial ownership except to the extent of any pecuniary interest.

Sentiment

Score: 7

Explanation: The sentiment is neutral to positive. The filing reflects standard transactions following an IPO, indicating continued investment by a major shareholder. There are no explicit negative indicators.

Positives

• The conversion of preferred stock to common stock and purchase of shares during the IPO suggests continued investment and confidence in Boundless Bio by ARCH Venture Funds.
• The IPO provides Boundless Bio with additional capital for its operations and research.

Industry Context

Form 4 filings are standard practice for reporting changes in beneficial ownership by insiders following significant events like an IPO. This filing provides transparency into the ownership structure of Boundless Bio after its public debut.

Comparison to Industry Standards

• Form 4 filings are a standard regulatory requirement for insiders of publicly traded companies, ensuring transparency in ownership changes.
• The reported transactions are typical for venture capital firms following an IPO of a portfolio company, as they often convert preferred stock to common stock and may purchase additional shares.

Stakeholder Impact

• The changes in beneficial ownership may be of interest to shareholders as it provides insight into the holdings of major investors.
• The IPO and subsequent transactions can impact employee stock options and overall company valuation.

Key Dates