SCHEDULE: Nantahala Capital Reports 6.91% Stake in Establishment Labs

Nantahala Capital Management, along with Wilmot B. Harkey and Daniel Mack, reported a beneficial ownership of up to 6.91% in Establishment Labs Holdings Inc. as of September 30, 2025.

Summary

• Nantahala Capital Management, LLC, Wilmot B. Harkey, and Daniel Mack collectively reported beneficial ownership of common shares in Establishment Labs Holdings Inc.
• As of September 30, 2025, the aggregate amount beneficially owned by the reporting persons is 1,973,492 common shares.
• This represents 6.81% of the class for Nantahala Capital Management, LLC and Wilmot B. Harkey.
• Daniel Mack's beneficial ownership represents 6.91% of the class, including shares held with shared power and 28,218 shares with sole voting and dispositive power.
• Nantahala Capital Management, LLC is classified as an investment adviser, while Wilmot B. Harkey and Daniel Mack are control persons.

Sentiment

Score: 5

Explanation: The filing is a routine disclosure of beneficial ownership, indicating a significant institutional stake. It does not contain information that would inherently drive strong positive or negative sentiment, but the presence of a substantial institutional holder is generally viewed as neutral to slightly positive.

Positives

• Significant institutional ownership by Nantahala Capital Management, LLC and its control persons, Wilmot B. Harkey and Daniel Mack, in Establishment Labs Holdings Inc.

Future Outlook

NA

Industry Context

NA

Stakeholder Impact

• Shareholders may view the continued significant institutional ownership by Nantahala Capital Management as a sign of confidence in Establishment Labs Holdings Inc.

Key Dates

Keywords

Establishment Labs Holdings Inc., Nantahala Capital Management, Wilmot B. Harkey, Daniel Mack, Schedule 13G, Beneficial Ownership, Common Shares, Investment Adviser, Control Person, SEC Filing