SCHEDULE: Vivo Entities Disclose 6.4% Stake in Bright Minds Biosciences

Vivo Opportunity Fund Holdings, L.P. and its affiliates have reported a 6.4% beneficial ownership stake in Bright Minds Biosciences Inc. as of September 30, 2025.

Summary

• Vivo Opportunity Fund Holdings, L.P. and its general partner, Vivo Opportunity, LLC, beneficially own 454,184 shares of Bright Minds Biosciences Inc. Common Stock.
• This ownership represents 6.4% of the Issuer's total outstanding Common Stock.
• Vivo Opportunity Cayman Fund, L.P. and its general partner, Vivo Opportunity Cayman, LLC, beneficially own an additional 47,433 shares, accounting for 0.7% of the class.
• The total outstanding shares of Bright Minds Biosciences Inc. were 7,088,639 as of August 22, 2025, as reported in the Issuer's Form F-3.
• The reporting persons certified that the securities were acquired and are held for passive investment purposes, not to change or influence control of the issuer.

Sentiment

Score: 7

Explanation: The disclosure of a significant passive stake by an institutional investor is generally a positive signal, indicating confidence in the company's long-term value without implying immediate operational changes or conflicts.

Positives

• A significant institutional investor, Vivo Opportunity Fund Holdings, L.P., has taken a 6.4% stake in Bright Minds Biosciences Inc., potentially signaling confidence in the company's long-term prospects.
• The investment is stated to be passive, suggesting no immediate intent to disrupt current management or strategic direction.

Negatives

• No explicit negatives are present in this beneficial ownership disclosure filing.

Risks

• This filing is a disclosure of beneficial ownership and does not contain specific risks related to the issuer's operations or financial health.

Future Outlook

This filing is a disclosure of passive beneficial ownership and does not contain any forward-looking statements or guidance from the issuer or the reporting persons regarding future performance or strategic direction.

Management Comments

• The reporting persons certified that the securities were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer.

Industry Context

This filing indicates an institutional investor's interest in Bright Minds Biosciences, a company likely operating in the biotechnology or pharmaceutical sector. Such investments are common in growth-oriented industries where early-stage companies seek capital, and institutional backing can provide stability and validation. The passive nature of the stake suggests a belief in the company's existing strategy without immediate intervention.

Comparison to Industry Standards

• NA

Stakeholder Impact

• Shareholders: May view the institutional investment as a vote of confidence, potentially leading to increased investor interest.
• Management: The passive nature of the stake suggests no immediate pressure for strategic or operational changes from this investor.

Next Steps

• The reporting persons will be required to file amendments to this Schedule 13G if their beneficial ownership percentage changes significantly (e.g., crosses a 1% threshold up or down) or if their investment intent changes from passive to active.

Key Dates

Recommendation

The filing indicates a significant passive stake by an institutional investor, which is generally a positive signal of confidence in Bright Minds Biosciences Inc. However, as a Schedule 13G, it provides no new operational or financial performance data to warrant a 'buy' or 'sell' recommendation. The 'hold' recommendation reflects the positive sentiment from institutional backing while awaiting further fundamental company updates.

Keywords

Bright Minds Biosciences, Vivo Opportunity Fund, Schedule 13G, Beneficial Ownership, Institutional Investor, Common Stock, Biotechnology, SEC Filing