SCHEDULE 13G: FibroBiologics Founder Pete O'Heeron Discloses 18.2% Beneficial Ownership Stake
Beneficial Ownership Disclosure
Pete O'Heeron, a key figure at FibroBiologics, Inc., has disclosed a beneficial ownership of 18.2% of the company's common stock as of January 31, 2024, through a Schedule 13G filing.
Summary
- The filing, a Schedule 13G, reports the beneficial ownership of FibroBiologics, Inc. common stock by Pete O'Heeron.
- As of January 31, 2024, Pete O'Heeron beneficially owns an aggregate of 6,951,459 shares of FibroBiologics, Inc. common stock.
- This ownership represents 18.2% of the company's total common stock outstanding.
- The beneficially owned shares include 5,906,647 shares of common stock, 965,104 vested stock options, and 77,208 stock options that will vest within 60 days of the filing date.
- Additionally, the ownership includes 2,500 shares of Series C Preferred Stock, which are convertible into common stock and each entitled to 13,000 votes.
- The Series C Preferred Stock shares are subject to an irrevocable proxy issued by Pete O'Heeron in favor and for the benefit of the Board of Directors of FibroBiologics, Inc.
- The calculation of the 18.2% ownership is based on a total of 38,186,149 shares of common stock outstanding as of February 11, 2025, assuming the conversion of all Mr. O'Heeron's Series C Preferred Stock and the exercise of all his vested and soon-to-vest stock options.
Sentiment
Score: 5
Explanation: This filing is a factual disclosure of beneficial ownership and does not contain information that would significantly alter sentiment positively or negatively, beyond confirming a significant insider stake.
Positives
- Pete O'Heeron, a significant individual associated with FibroBiologics, holds a substantial 18.2% beneficial ownership, which can signal strong insider confidence and alignment with long-term shareholder interests.
Future Outlook
NA
Industry Context
NA
Corporate Governance
| Change Type | Description | Effective Date | Impact Assessment |
|---|---|---|---|
| Shareholder Voting Rights | Pete O'Heeron's 2,500 shares of Series C Preferred Stock are subject to an irrevocable proxy in favor of the Board of Directors of FibroBiologics, Inc., granting the Board shared voting and dispositive power over these specific shares. | Prior to 01/31/2024 (implied by filing) | This arrangement centralizes voting control of these specific shares with the Board, potentially enhancing corporate governance stability for these specific shares, while limiting the individual voting power of the beneficial owner over them. |
Stakeholder Impact
- Shareholders: Provides transparency regarding a significant insider ownership stake, which may be viewed as a positive signal of confidence in the company's future by a key individual.
Key Dates
| Date | Description |
|---|---|
| 01/31/2024 | Date of event which requires the filing of this statement (beneficial ownership calculation date). |
| 02/11/2025 | Date used for calculating the total outstanding common stock of the Issuer. |
| 02/12/2025 | Date of signature and filing of the Schedule 13G statement. |
Keywords
FibroBiologics, Pete O'Heeron, Schedule 13G, Beneficial Ownership, Common Stock, SEC Filing, Insider Ownership, Equity Stake, Corporate Governance
Disclaimer:The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.