SCHEDULE: CVI Investments and Heights Capital Disclose 4.9% Stake in BriaCell Therapeutics

CVI Investments, Inc. and Heights Capital Management, Inc. have jointly disclosed a beneficial ownership of 4.9% of BriaCell Therapeutics Corp.'s common shares, primarily through warrants.

Summary

• CVI Investments, Inc. and Heights Capital Management, Inc. (collectively, the "Reporting Persons") have filed a Schedule 13G/A, disclosing their beneficial ownership in BriaCell Therapeutics Corp.
• The Reporting Persons collectively beneficially own 355,886 common shares of BriaCell Therapeutics Corp., representing 4.9% of the company's outstanding common shares.
• This ownership includes shares issuable upon the exercise of warrants to purchase shares.
• The warrants are subject to a limitation, preventing exercise if the beneficial ownership of a Reporting Person and its affiliates would exceed 4.99%.
• As of June 16, 2025, BriaCell Therapeutics Corp. had 6,776,092 common shares outstanding, according to its Quarterly Report on Form 10-Q for the period ended April 30, 2025.
• Heights Capital Management, Inc. serves as the investment manager to CVI Investments, Inc. and may exercise shared voting and dispositive power over the reported shares.

Sentiment

Score: 5

Explanation: The document is a factual disclosure of beneficial ownership and does not contain information that would inherently indicate positive or negative sentiment regarding the issuer's performance or prospects.

Risks

• The warrants held by the Reporting Persons are not exercisable to the extent that the total beneficial ownership would exceed 4.99%, which limits the immediate conversion of these instruments into common shares.

Future Outlook

The document does not provide any forward-looking statements or guidance regarding BriaCell Therapeutics Corp.'s future performance or strategic direction.

Industry Context

This filing is a standard disclosure of a significant passive investment stake in a publicly traded company, common in the biotechnology sector where institutional investors often take positions in emerging companies.

Stakeholder Impact

• Shareholders: Provides transparency regarding a significant institutional investor's stake in the company, which can influence market perception and liquidity.

Key Dates

Keywords

BriaCell Therapeutics Corp., CVI Investments Inc., Heights Capital Management Inc., Schedule 13G, Beneficial Ownership, Common Shares, Warrants, Biotechnology, Investment, SEC Filing