SCHEDULE 13G: Stonepine Capital Discloses 9.9% Passive Stake in Edesa Biotech
Schedule 13G
Stonepine Capital Management, LLC and its affiliates have filed a Schedule 13G, reporting a 9.9% beneficial ownership stake in Edesa Biotech, Inc.'s common stock.
Summary
- Stonepine Capital Management, LLC, Stonepine Capital, L.P., Stonepine GP, LLC, and Jon M. Plexico collectively reported beneficial ownership of 693,551 shares of Edesa Biotech, Inc. Common Stock.
- This aggregate amount represents 9.9% of Edesa Biotech, Inc.'s outstanding Common Stock.
- The beneficial ownership includes 687,500 shares of Common Stock directly owned and 93,750 shares of Common Stock issuable upon conversion of 18 shares of Series B-1 Convertible Preferred Stock, subject to a 9.99% beneficial ownership limitation.
- The percentage is calculated based on 6,936,404 shares of Common Stock outstanding as of February 14, 2025, as reported in Edesa Biotech's Form 10-Q for the quarter ended December 31, 2024.
- The reporting persons share both voting and dispositive power over all 693,551 beneficially owned shares.
- The filing indicates that the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing the control of Edesa Biotech, Inc.
Sentiment
Score: 5
Explanation: The document is a factual disclosure of beneficial ownership and does not contain subjective language or performance metrics that would indicate a positive or negative sentiment. It is neutral.
Future Outlook
NA
Industry Context
This filing is a standard disclosure for institutional investors acquiring a significant passive stake (5% or more) in a publicly traded company, indicating a notable investment by Stonepine Capital in the biotechnology sector.
Stakeholder Impact
- Shareholders: The disclosure of a significant institutional investor holding a 9.9% stake may be viewed positively as a vote of confidence, potentially increasing liquidity or investor interest in Edesa Biotech's stock.
Key Dates
| Date | Description |
|---|---|
| 2024-10-10 | Date of Agreement Regarding Joint Filing of Statement on Schedule 13D or 13G |
| 2025-02-13 | Date of event which required the filing of this statement (crossing the 5% ownership threshold) |
| 2025-02-14 | Date used for calculating outstanding Common Stock (6,936,404 shares) as reported in Issuer's Form 10-Q |
| 2025-02-25 | Date the Schedule 13G was signed and filed |
Keywords
Edesa Biotech, Stonepine Capital Management, Schedule 13G, Beneficial Ownership, Common Stock, Convertible Preferred Stock, SEC Filing, Institutional Investor
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