Form 4: Catalyst4 Boosts MapLight Stake Post-IPO

Catalyst4, Inc. increased its indirect beneficial ownership in MapLight Therapeutics, Inc. to 19,697,464 voting common shares following an IPO-related conversion of preferred stock and a direct purchase.

Summary

• Catalyst4, Inc. reported changes in its beneficial ownership of MapLight Therapeutics, Inc. (MLPT) common stock.
• On October 28, 2025, Catalyst4 converted various series of preferred stock (Series A, A-1, B, B-1, C, and D) into 14,256,288 shares of voting common stock.
• This conversion occurred automatically upon the closing of MapLight Therapeutics' initial public offering (IPO) on a 1-for-16.8 basis for no additional consideration.
• Additionally, Catalyst4 purchased 5,441,176 shares of voting common stock at a price of $17 per share on the same date.
• Following these transactions, Catalyst4, Inc. indirectly beneficially owns a total of 19,697,464 shares of MapLight Therapeutics, Inc. voting common stock.
• The preferred stock holdings are now zero as a result of the conversion.

Sentiment

Score: 8

Explanation: A significant 10% owner, Catalyst4, Inc., increased its stake in MapLight Therapeutics, Inc. through both preferred stock conversion upon IPO and a substantial direct purchase of common stock. This indicates strong confidence in the company's future prospects following its public listing.

Positives

• Catalyst4, Inc., a 10% owner, significantly increased its indirect beneficial ownership in MapLight Therapeutics, Inc. common stock, demonstrating continued confidence.
• The conversion of preferred stock into common stock upon IPO closing simplifies the capital structure for Catalyst4's holdings.
• Catalyst4 made a substantial purchase of 5,441,176 common shares at $17, indicating a strong investment at the IPO price.

Future Outlook

NA

Industry Context

NA

Related Party Transactions

• Catalyst4, Inc., a 10% owner of MapLight Therapeutics, Inc., engaged in transactions involving the conversion of preferred stock and the purchase of common stock.
• The board members of Catalyst4, Inc. (Robert Brown, Ekemini Riley, and Mark Vorsatz) share voting and dispositive power over the shares, but disclaim beneficial ownership.

Stakeholder Impact

• Shareholders: Increased confidence due to a major investor's expanded stake. The IPO and subsequent transactions clarify the capital structure.
• Company: Strengthened capital base from the IPO and continued support from a significant investor.

Key Dates

Recommendation

The significant increase in beneficial ownership by Catalyst4, Inc., a 10% owner, through both automatic conversion of preferred stock upon IPO and a substantial direct purchase of common stock at $17 per share, signals strong insider confidence in MapLight Therapeutics, Inc.'s valuation and future prospects post-listing. This type of insider activity often precedes positive performance.

Keywords

MapLight Therapeutics, MLPT, Catalyst4, SEC Form 4, beneficial ownership, common stock, preferred stock, IPO, stock purchase, insider transaction