SCHEDULE 13D/A: Versant Funds Reduce Stake in LENZ Therapeutics, Selling Over $10 Million in Shares
Beneficial Ownership Amendment
Versant Venture Capital VI, L.P. and Versant Venture Capital VII, L.P. have reported significant sales of LENZ Therapeutics, Inc. common stock, reducing their beneficial ownership.
Summary
- Versant Venture Capital VI, L.P. (Versant VI) sold 133,924 shares of LENZ Therapeutics, Inc. common stock on June 20, 2025, at a price of $30.25 per share, generating approximately $4,051,201.00 in proceeds.
- Following this sale, Versant VI beneficially owns 1,967,275 shares, representing 7.0% of the Issuer's Common Stock outstanding as of May 1, 2025.
- Versant Venture Capital VII, L.P. (Versant VII) sold 100,000 shares on June 18, 2025, at $29.95 per share, for approximately $2,995,000.00.
- Versant VII also sold an additional 100,877 shares on June 20, 2025, at $30.35 per share, for approximately $3,061,616.95.
- In total, Versant VII sold 200,877 shares, and after these transactions, beneficially owns 1,118,446 shares (including 70,534 shares issuable upon warrant exercise), representing 4.0% of the Issuer's Common Stock (calculated on a diluted basis for Versant VII's percentage).
- Versant Vantage II, L.P. continues to beneficially own 842,162 shares, representing 3.0% of the Issuer's Common Stock, with no sales reported in this amendment.
- The total proceeds from the reported sales by Versant entities amount to approximately $10,107,817.95.
Sentiment
Score: 4
Explanation: The sentiment is slightly negative due to significant share sales by a major institutional investor, which can signal a reduction in confidence or a portfolio rebalancing that reduces exposure to the company.
Negatives
- Significant reduction in stake by major institutional investors (Versant VI and Versant VII) could be perceived as a negative signal regarding future prospects or a strategic exit.
Future Outlook
The document does not provide any forward-looking statements or guidance regarding the Issuer's future operations or financial performance.
Industry Context
This filing is a routine disclosure of a change in beneficial ownership by a venture capital firm in a publicly traded biotechnology company. It reflects a portfolio management decision by the investor rather than a direct statement on broader industry trends.
Stakeholder Impact
- Shareholders: May perceive the reduction in stake by a significant institutional investor as a negative signal, potentially impacting share price due to increased supply or perceived lack of confidence.
Key Dates
| Date | Description |
|---|---|
| 2021-07-09 | Original Schedule 13D filed by certain Reporting Persons. |
| 2023-11-17 | Amendment No. 1 to Schedule 13D filed. |
| 2024-03-25 | Amendment No. 2 to Schedule 13D filed. |
| 2024-11-08 | Amendment No. 3 to Schedule 13D filed. |
| 2025-05-01 | Date as of which 28,146,154 shares of Common Stock were outstanding, as reported in the Issuer's Form 10-Q. |
| 2025-05-07 | Issuer's quarterly report on Form 10-Q for the quarter ended March 31, 2025, filed with the SEC. |
| 2025-06-12 | Amendment No. 4 to Schedule 13D filed. |
| 2025-06-18 | Versant VII sold 100,000 shares of Common Stock. |
| 2025-06-20 | Date of event requiring filing of this statement; Versant VII sold 100,877 shares and Versant VI sold 133,924 shares of Common Stock. |
| 2025-06-24 | Date of signature for this Amendment No. 5 to Schedule 13D. |
Keywords
LENZ Therapeutics, Versant Venture Capital, Schedule 13D, Common Stock, Share Sales, Beneficial Ownership, Institutional Investor, Biotechnology, Pharmaceuticals
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