SCHEDULE 13D: Major Shareholder Group Significantly Reduces Stake in IMPACT BIOMEDICAL INC.

A group of affiliated entities led by Heng Fai Ambrose Chan has significantly reduced its beneficial ownership in IMPACT BIOMEDICAL INC. through recent share sales.

Summary

• Heng Fai Ambrose Chan, along with entities he controls, Alset Inc., Alset International Limited, and Global Biomedical Pte. Ltd., collectively sold 2,526,918 shares of IMPACT BIOMEDICAL INC. common stock.
• The sales occurred on March 31, 2025, and April 1, 2025, with weighted average sale prices ranging from $0.9816 to $1.447 per share.
• Specifically, Alset International Limited sold 300,000 shares at a weighted average price of $1.028 on March 31, 2025, and 400,000 shares at $0.9816 on April 1, 2025.
• Alset Inc. sold 650,000 shares at $1.447 and an additional 1,176,918 shares at $1.08, both on April 1, 2025.
• Following these transactions, the group's aggregate beneficial ownership in IMPACT BIOMEDICAL INC. decreased from approximately 37.8% to 2,041,248 shares, representing 16.9% of the outstanding common stock.
• The percentages are based on 12,085,412 shares of IMPACT BIOMEDICAL INC. common stock outstanding as of April 2, 2025.
• The filing indicates that no reporting person has been convicted in a criminal proceeding or been a party to a civil proceeding related to securities laws in the last five years.

Sentiment

Score: 3

Explanation: The significant reduction in stake by a major shareholder group, without a stated positive reason for the divestment, generally indicates a negative sentiment or a strategic shift away from the issuer.

Negatives

• A significant reduction in beneficial ownership by a major shareholder group, decreasing their stake from approximately 37.8% to 16.9%.
• The document does not provide a specific strategic reason or purpose for the divestment, which could be interpreted negatively by the market.
• The sale of a substantial number of shares by a controlling entity may signal a lack of confidence or a shift in investment strategy regarding the issuer.

Future Outlook

The document does not provide any forward-looking statements or guidance regarding IMPACT BIOMEDICAL INC.'s future operations or financial performance.

Industry Context

This filing is a disclosure of a change in beneficial ownership by a major shareholder group and does not provide broader industry context or trends.

Corporate Governance

Stakeholder Impact

• Shareholders of IMPACT BIOMEDICAL INC. may view the significant reduction in stake by a major shareholder group as a negative indicator, potentially leading to decreased investor confidence or downward pressure on the stock price.

Next Steps

• The reporting persons undertake to provide, upon request of the SEC staff, the Issuer, or a security holder of the Issuer, full information regarding the number of shares and prices at which the transactions were effected.

Key Dates

Recommendation

Keywords

SEC filing, Schedule 13D, beneficial ownership, stake reduction, IMPACT BIOMEDICAL INC., Alset Inc., Alset International Limited, Global Biomedical Pte. Ltd., Heng Fai Ambrose Chan, share sales, divestment