SCHEDULE: H.E.S.T. Australia Boosts EBR Systems Stake to 8.5%
Beneficial Ownership Report
H.E.S.T. Australia Ltd. has increased its beneficial ownership in EBR Systems, Inc. to 8.5% of common stock, totaling over 36.5 million shares.
Summary
- H.E.S.T. Australia Ltd. reported beneficial ownership of 36,581,484 shares of EBR Systems, Inc. common stock.
- This represents 8.5% of the Issuer's common stock outstanding.
- The ownership includes 17,633,860 shares with sole voting and dispositive power, primarily underlying CHESS Depositary Interests (CDIs) held directly.
- An additional 18,947,624 shares are held with shared voting and dispositive power, comprising 15,875,392 CDIs and 3,072,232 shares from warrants held by MRCF3 Service (H) Pty Ltd on trust for MRCF3 (H) Trust, where H.E.S.T. Australia Ltd. is the sole unitholder.
- The percentage of class calculation is based on 373,076,861 shares outstanding as of May 12, 2025, plus 55,900,000 CDIs issued in an underwritten placement on May 26, 2025.
Sentiment
Score: 6
Explanation: The filing is a factual disclosure of beneficial ownership. The increase in stake by a large institutional investor like H.E.S.T. Australia Ltd. can be interpreted as a positive signal of confidence in EBR Systems, Inc., hence a slightly positive sentiment.
Positives
- A significant increase in beneficial ownership by H.E.S.T. Australia Ltd. to 8.5% signals strong investor confidence in EBR Systems, Inc.
Negatives
- NA
Risks
- NA
Future Outlook
NA
Industry Context
This filing indicates a significant investment by an Australian superannuation fund (H.E.S.T. Australia Ltd. is a trustee for HESTA, a large Australian industry super fund) in a U.S.-based company, EBR Systems, Inc. This highlights cross-border investment activity and the increasing global reach of institutional investors.
Related Party Transactions
- H.E.S.T. Australia Ltd. is the sole unitholder in MRCF3 (H) Trust, which holds shares and warrants in EBR Systems, Inc. through its trustee, MRCF3 Service (H) Pty Ltd.
- H.E.S.T. Australia Ltd. may be deemed to share voting and investment power with MRCF3 Service (H) and BCP3 Pty Ltd pursuant to a Part B Management Agreement dated April 22, 2015.
Stakeholder Impact
- Shareholders: Increased institutional ownership may provide stability and signal confidence, potentially influencing market perception.
- Management: Awareness of a significant and active institutional shareholder.
Key Dates
| Date | Description |
|---|---|
| 2015-04-22 | Date of Part B Management Agreement among MRCF3 Service (H), BCP3 Pty Ltd, and H.E.S.T. Australia Ltd. regarding shared voting and investment power. |
| 2024-11-21 | Date of Amendment No. 3 to the Issuer's Form 10, filed with the SEC, providing information on MRCF3 Service (H) members. |
| 2025-03-31 | End of quarter for which EBR Systems, Inc.'s Quarterly Report on Form 10-Q was filed. |
| 2025-05-12 | Date as of which 373,076,861 shares of EBR Systems, Inc. common stock were outstanding. |
| 2025-05-13 | Date EBR Systems, Inc. filed its Quarterly Report on Form 10-Q for the quarter ended March 31, 2025. |
| 2025-05-26 | Date of underwritten placement where 55,900,000 CDIs were issued to institutional investors. |
| 2025-05-29 | Date EBR Systems, Inc. filed its Current Report on Form 8-K reporting the underwritten placement. |
| 2025-06-30 | Date of event which requires filing of this Schedule 13G statement. |
| 2025-08-01 | Signature date of the Schedule 13G filing by H.E.S.T. Australia Ltd. |
Keywords
EBR Systems, H.E.S.T. Australia, beneficial ownership, Schedule 13G, common stock, CDIs, institutional investment, SEC filing
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