SCHEDULE: Bleichroeder LP Increases Stake in LiqTech International

Bleichroeder LP, through managed funds, has acquired $550,000 in discount promissory notes and increased its beneficial ownership of LiqTech International shares to 33.7%.

Summary

• Bleichroeder LP and affiliated entities have amended their Schedule 13D filing regarding LiqTech International, Inc.
• On May 22, 2026, funds managed by Bleichroeder LP purchased $550,000 in original discount promissory notes due in two months.
• These notes do not bear interest for the initial two-month term but will accrue interest at 10% per annum, increasing monthly up to 16%, if not repaid by maturity.
• Proceeds from the notes are designated for working capital and general corporate purposes.
• As of May 27, 2026, the Reporting Persons beneficially own 3,182,239 shares of LiqTech International, representing 33.7% of the outstanding stock.
• The Reporting Persons also hold warrants to acquire an additional 6,832,379 shares, subject to a 9.99% beneficial ownership limitation.
• Without the 9.99% limit, their potential ownership would be 61.5% of the outstanding shares.
• The percentages are based on 9,947,841 shares outstanding as of May 12, 2026.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral filing, indicating continued investor engagement and short-term financing, but without significant new strategic information or performance indicators.

Positives

• Bleichroeder LP has increased its investment in LiqTech International through the purchase of promissory notes.
• The company has secured funding for working capital and general corporate purposes.
• Bleichroeder LP maintains significant voting and dispositive power over its substantial shareholding.

Negatives

• The company has issued short-term promissory notes with a potential for escalating interest rates if not repaid, indicating potential short-term liquidity concerns.
• The beneficial ownership limitation on warrants (9.99%) restricts the full exercise of potential share acquisition, capping immediate control.

Risks

• Failure to repay the $550,000 promissory notes by the maturity date will result in escalating interest charges, potentially up to 16% per annum.
• The 9.99% beneficial ownership limitation on warrants could prevent the Reporting Persons from fully exercising their potential stake in the company.

Future Outlook

The filing indicates the proceeds from the new notes are for working capital and general corporate purposes. The potential exercise of warrants is subject to a 9.99% ownership limitation, which could impact future shareholding levels.

Industry Context

StockSavvy.ai notes that this filing reflects an active investor increasing its stake and providing short-term financing, a common strategy in industries requiring significant working capital or facing growth phases. The increasing interest rate structure on the notes suggests a premium for the short-term risk taken by the investor.

Stakeholder Impact

• Shareholders: The increased stake by Bleichroeder LP to 33.7% signifies a major shareholder's continued commitment, potentially influencing future corporate actions. The short-term financing may alleviate immediate working capital needs.
• Creditors: The issuance of notes for working capital could impact the company's debt structure and leverage ratios.
• Management: The significant ownership by Bleichroeder LP may increase their influence on strategic decisions.

Next Steps

• Repayment of the $550,000 promissory notes by the maturity date to avoid escalating interest.
• Potential exercise of warrants, subject to the 9.99% beneficial ownership limitation.

Key Dates

Recommendation

The filing indicates a significant stake held by Bleichroeder LP and a short-term financing arrangement. While this shows continued investor interest, there is no new information regarding operational performance or future growth catalysts that would warrant a stronger recommendation. The 9.99% warrant exercise cap also limits immediate upside potential from warrant conversion.

Keywords

LiqTech International, Bleichroeder LP, Schedule 13D, Promissory Notes, Beneficial Ownership, Warrants, SEC Filing, Investment, Corporate Finance