SCHEDULE: Dyadic International Shareholder Filing Update

Francisco Trust amends Schedule 13G filing, reporting 11.58% ownership of Dyadic International's common stock.

Summary

• Francisco Trust, under an agreement dated February 28, 1996, has filed an amendment (Amendment No. 2) to its Schedule 13G filing concerning Dyadic International Inc.
• The filing corrects an immaterial error from a previous filing dated May 11, 2026.
• As of December 23, 2025, the Trust beneficially owns 4,328,045 shares of Dyadic International's common stock, representing 11.58% of the class.
• This ownership includes 3,375,664 directly held shares and 952,381 shares convertible from a promissory note issued on March 8, 2024, as amended.
• The convertible note has a conversion price of $1.05 per share.
• The percentages are based on 36,438,703 shares outstanding as of May 12, 2026, as reported by Dyadic International in its Form 10-Q filed on May 13, 2026.
• The Trust has not engaged in any transactions in Dyadic International's common stock since the May 11, 2026 filing.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this filing as neutral; it's a procedural correction of an immaterial error rather than a new strategic development or significant change in ownership.

Positives

• Francisco Trust has corrected a previous filing, ensuring accurate reporting of its beneficial ownership.
• The Trust holds a significant stake (11.58%) in Dyadic International, indicating substantial investor confidence.
• The convertible note provides a clear path to increased equity ownership at a defined price point ($1.05 per share).

Negatives

• The filing notes an 'immaterial error' in a prior filing, which could suggest a minor lapse in reporting diligence.
• The reliance on a convertible note for a portion of the ownership implies that the Trust's full equity stake is contingent on conversion.

Risks

• The value of the 952,381 shares from the convertible note is subject to the market price of Dyadic International's common stock relative to the $1.05 conversion price.
• Any future fluctuations in Dyadic International's stock price could impact the decision and ability of Francisco Trust to convert its promissory note.
• The filing is an amendment to correct an error, which might raise questions about the initial accuracy of reporting.

Future Outlook

The filing does not contain specific forward-looking statements or guidance from Dyadic International. It primarily focuses on reporting beneficial ownership by Francisco Trust and correcting a previous filing.

Management Comments

• "This 13G/A is being filed to correct an immaterial error in the number of shares of the issuer's common stock reported as beneficially owned by the reporting person in its 13G/A filed on May 11, 2026."
• "The reporting person has not engaged in any transactions in the issuer's common stock since the filing of its 13G/A on May 11, 2026."
• "All percentages calculated in this Schedule 13G/A, calculated in accordance with applicable rules of the Securities and Exchange Commission (the "SEC"), are based upon an aggregate of 36,438,703 shares outstanding of the issuer's common stock on May 12, 2026, as disclosed in the issuer's Quarterly Report on Form 10-Q filed with the SEC on May 13, 2026."

Industry Context

StockSavvy.ai notes that Schedule 13G filings are crucial for tracking significant institutional and insider ownership changes. This amendment by Francisco Trust, while correcting an error, reaffirms its substantial stake in Dyadic International, a company operating in the biotechnology or advanced materials sector, where significant ownership by investment entities is common.

Related Party Transactions

• The filing details the ownership of shares convertible from a promissory note issued by Dyadic International to Francisco Trust, which represents a related party transaction in the context of beneficial ownership reporting.

Stakeholder Impact

• Shareholders: The accurate reporting of significant ownership by Francisco Trust provides transparency, which is generally positive for market confidence. The 11.58% stake indicates a substantial investor.
• Creditors: The stability of Dyadic International's ownership structure, as clarified by this filing, can be a factor in assessing the company's financial stability.
• Management: The filing provides clarity on a major shareholder's holdings, which is relevant for strategic discussions and corporate governance.

Next Steps

• Francisco Trust will continue to monitor its beneficial ownership in Dyadic International.
• Dyadic International will continue its operations as disclosed in its previous filings.

Key Dates

Keywords

Dyadic International, Schedule 13G, Francisco Trust, Beneficial Ownership, Common Stock, Convertible Note, SEC Filing, Amendment, Shareholder, Investment