Form 4: Versant Venture Capital Entities Report Ownership Changes in Contineum Therapeutics Following IPO

Versant Venture Capital and related entities report the conversion of preferred stock into Class A and Class B common stock of Contineum Therapeutics following the company's initial public offering.

Summary

• Versant Venture Capital VI, L.P., along with related entities, filed a Form 4 with the SEC detailing changes in beneficial ownership of Contineum Therapeutics, Inc. [CTNM] stock.
• The report covers transactions occurring on April 9, 2024, related to the conversion of preferred stock into Class A and Class B common stock upon the closing of Contineum Therapeutics' IPO.
• The conversions were on a one-for-one basis with no additional consideration.
• Versant entities converted Series A, A-1, B, and C preferred stock into Class A and Class B common stock.
• The filing includes indirect ownership through various Versant funds and general partner entities, with disclaimers of beneficial ownership except to the extent of pecuniary interest.
• Versant Venture Capital VI, L.P. directly holds 375,535 shares of Class A Common Stock and indirectly holds shares through Versant Venture Capital IV, L.P., Versant Side Fund IV, L.P., and Versant Vantage I, L.P.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing, so the sentiment is neutral.

Industry Context

Form 4 filings are standard practice for reporting changes in beneficial ownership by insiders, providing transparency to the market regarding ownership stakes after significant events like an IPO.

Stakeholder Impact

• The conversion of preferred stock to common stock impacts shareholders by changing the capital structure of the company.
• The conversion may affect the ownership percentages and voting rights of existing shareholders.

Key Dates