SCHEDULE: Two Seas Capital Reports 4.7% Stake in Esperion

Two Seas Capital LP, along with its general partner and chief investment officer, reported a 4.7% passive beneficial ownership stake in Esperion Therapeutics, Inc. as of September 30, 2025.

Summary

• Two Seas Capital LP, Two Seas Capital GP LLC, and Sina Toussi (collectively, the "Reporting Persons") reported beneficial ownership of Esperion Therapeutics, Inc. common stock.
• The Reporting Persons collectively beneficially own 9,749,724 shares of Esperion Therapeutics, Inc. Common Stock.
• This represents 4.7% of the total 207,424,417 shares of Common Stock outstanding as of September 30, 2025, as disclosed in the Issuer's Form 10-Q filed on November 6, 2025.
• The shares are held by Two Seas Global (Master) Fund LP, for which Two Seas Capital LP acts as investment adviser, with Two Seas Capital GP LLC as its general partner, and Sina Toussi as its chief investment officer and managing member of TSC GP.
• The Reporting Persons have sole voting power and sole dispositive power over these 9,749,724 shares.
• The filing certifies that the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of the issuer.

Sentiment

Score: 5

Explanation: The filing is a factual disclosure of beneficial ownership and does not contain information that would inherently be considered positive or negative for the company's operational performance or future prospects. It is a routine regulatory update.

Future Outlook

This filing is a beneficial ownership report and does not contain forward-looking statements or guidance regarding the issuer's future performance or outlook.

Industry Context

This filing is a routine disclosure of a passive investment stake by an investment fund in a publicly traded biotechnology company. It does not provide specific insights into broader industry trends or competitive landscape beyond the fact of the investment itself.

Stakeholder Impact

• Shareholders: Provides transparency regarding a significant, but passive, institutional investor's stake in the company.
• Management: Awareness of a substantial, non-activist shareholder holding a position below the 5% threshold for active influence.

Key Dates

Recommendation

This Schedule 13G filing is a routine disclosure of a passive beneficial ownership stake and does not provide new fundamental information about Esperion Therapeutics, Inc.'s financial performance, strategic direction, or operational outlook. Therefore, it does not warrant a change in investment recommendation based solely on this filing. Investors should continue to hold their positions and evaluate the company based on its financial reports and business developments.

Keywords

Esperion Therapeutics, Two Seas Capital, Beneficial Ownership, Common Stock, Investment Adviser, Passive Investment, Biotechnology, Pharmaceuticals