SCHEDULE: Kardigan Inc. Stakeholder Update

HRTG entities and individuals report beneficial ownership of 18.2% of Kardigan, Inc. common stock, excluding certain warrant shares.

Summary

• HRTG PV, L.P., HRTG CIF 2024, L.P., HRTG GPE, LLC, Kevin Anthony Kelly, and Keith Bryon Johnson have collectively reported beneficial ownership of 16,917,034 shares of Kardigan, Inc. common stock.
• This represents 18.2% of the total outstanding shares as of June 22, 2026.
• The reported shares exclude a warrant held by HRTG PV, L.P. to purchase up to 876,040 shares of common stock, exercisable on a cashless basis under specific valuation conditions.
• HRTG GPE, LLC acts as the general partner for HRTG PV, L.P. and HRTG CIF 2024, L.P., with Keith Johnson and Kevin Kelly serving as Managing Members of HRTG GPE, LLC.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral filing, primarily reporting ownership stakes and disclaiming control-influencing intentions, with a contingent warrant that introduces a potential future variable.

Positives

• Significant beneficial ownership stake of 18.2% reported by HRTG entities and individuals, indicating substantial investor interest.
• The reporting is based on a recent share count as of June 22, 2026, providing up-to-date information.

Negatives

• The reported ownership excludes a warrant for up to 876,040 shares, the exercise of which is contingent on a $5 billion company valuation, suggesting potential future dilution or increased stake under favorable conditions.

Risks

• Potential for future share dilution if the warrant held by HRTG PV, L.P. is exercised.
• The exercise of the warrant is contingent on the company achieving a $5 billion valuation, which may or may not occur.

Future Outlook

The filing notes a warrant held by HRTG PV, L.P. to purchase up to 876,040 shares of Common Stock. This warrant is exercisable on a cashless basis with an exercise price of $13.42 per share, and its exercise period commences upon the first date the Company achieves a valuation of $5,000,000,000. This indicates a potential future increase in outstanding shares if the company reaches the specified valuation.

Management Comments

• Each of HRTG, Mr. Johnson and Mr. Kelly disclaims beneficial ownership of the securities held directly by HRTG PV, L.P. and HRTG CIF 2024, L.P., except to the extent of such person's pecuniary interest therein, if any.
• By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under 240.14a-11.

Industry Context

StockSavvy.ai notes that Schedule 13G filings are common for institutional investors and significant stakeholders to report their ownership stakes. The reported 18.2% stake by HRTG entities in Kardigan, Inc. suggests a substantial investment, potentially influencing corporate governance or strategic decisions.

Stakeholder Impact

• Shareholders: The reported ownership stake and the potential exercise of the warrant could impact share concentration and future dilution.
• Management: The significant stake may lead to increased engagement or influence from HRTG entities.
• Creditors: No direct impact mentioned, but significant ownership changes can indirectly affect company stability.

Next Steps

• The warrant held by HRTG PV, L.P. may be exercised if Kardigan, Inc. achieves a valuation of $5,000,000,000.

Key Dates

Keywords

Kardigan Inc., Schedule 13G, Beneficial Ownership, HRTG PV, HRTG CIF 2024, HRTG GPE, Kevin Anthony Kelly, Keith Bryon Johnson, Common Stock, Warrant, SEC Filing