SCHEDULE: BML Investment Partners Reports 0% Stake in Elevation Oncology Following Tender Offer Completion

BML Investment Partners, L.P. has filed an amended Schedule 13D, indicating zero beneficial ownership of Elevation Oncology, Inc. common stock after the completion of a tender offer for all outstanding shares.

Summary

• BML Investment Partners, L.P. and its affiliates, including BML Capital Management, LLC and Braden M. Leonard, now beneficially own 0% of Elevation Oncology, Inc.'s common stock.
• The change in ownership is a direct result of a completed tender offer on July 23, 2025, where a Merger Sub purchased all outstanding shares of Elevation Oncology, Inc. common stock pursuant to a Merger Agreement.
• The reporting persons previously filed a Schedule 13D and this filing serves as Amendment No. 1, reflecting their current lack of ownership.
• No transactions in Elevation Oncology, Inc. common stock were effected by the reporting persons during the 60 days preceding the filing date of July 28, 2025.
• Braden M. Leonard serves as the managing member of BML Capital Management, LLC, which is the General Partner to BML Investment Partners, L.P.

Sentiment

Score: 5

Explanation: The filing is a factual update on a completed corporate action (merger via tender offer) resulting in the reporting entity's divestment of shares, which is a standard procedural disclosure with neutral implications for the reporting entity's ongoing investment strategy in this specific company.

Positives

• The completion of the tender offer and merger provides a definitive exit for shareholders who participated, including potentially the reporting entity, at the agreed-upon acquisition price.

Negatives

• The reporting entity, BML Investment Partners, L.P., no longer holds any beneficial ownership in Elevation Oncology, Inc., indicating a complete divestment of their stake.

Risks

• The filing explicitly states that none of the reporting persons (BML Investment Partners, L.P., BML Capital Management, LLC, or Braden M. Leonard) have been convicted in a criminal proceeding or been party to a civil proceeding resulting in judgments or orders related to federal or state securities laws within the past five years.

Future Outlook

The filing does not provide any forward-looking statements or guidance regarding Elevation Oncology, Inc.'s future, as the company's shares have been acquired through a completed tender offer.

Industry Context

This filing reflects the final stage of a corporate acquisition within the biotechnology sector, specifically in oncology, where a publicly traded company is taken private through a tender offer and merger. Such transactions are common as larger entities seek to consolidate assets or expand their pipelines.

Legal Proceedings

• None of the reporting persons (BML Investment Partners, L.P., BML Capital Management, LLC, or Braden M. Leonard) have been convicted in a criminal proceeding or been a party to a civil proceeding resulting in judgments or orders related to federal or state securities laws within the past five years.

Stakeholder Impact

• Shareholders of Elevation Oncology, Inc. who participated in the tender offer received cash consideration for their shares.
• The company's employees and operations are now integrated under the acquiring entity, potentially leading to organizational changes.

Next Steps

• For Elevation Oncology, Inc., the completion of the tender offer and merger typically leads to the company ceasing to be publicly traded and its shares being delisted.

Key Dates

Keywords

Elevation Oncology, BML Investment Partners, Schedule 13D, Tender Offer, Merger, Beneficial Ownership, Divestment, Corporate Action, Biotechnology, Oncology