Form 4: Mobia Medical Inc. Ownership Changes Reported

Mobia Medical, Inc. (MOBI) reports significant changes in beneficial ownership for Green Park & Golf Ventures II, LLC and related entities, primarily related to the company's initial public offering.

Summary

• Green Park & Golf Ventures II, LLC and its affiliated entities have reported changes in their beneficial ownership of Mobia Medical, Inc. (MOBI) common stock.
• These changes occurred on May 11, 2026, and are primarily related to the conversion of preferred stock and convertible notes into common stock, as well as the exercise of warrants, in anticipation of or concurrent with the company's initial public offering (IPO).
• Several entities, including GPG JCT, LLC, GPG MTI 22, LLC, GPG MTI 25, LLC, GPG MTI 3-17 Investment, LLC, GPG PHL, LLC, and GPG RM Investment, LLC, hold various series of preferred stock and convertible notes that have converted.
• Individual reporting persons, including Clay M. Heighten, MD, Carl D. Soderstrom, and Gilbert G. Garcia II, are associated with Green Park & Golf Ventures II, LLC and may be deemed to beneficially own the reported securities.
• The filing is one of five related Forms 4 due to the number of reporting persons involved.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this filing as neutral, as it primarily reports on ownership changes and transaction mechanics related to an IPO, rather than providing performance metrics or strategic updates.

Positives

• Conversion of preferred stock and convertible notes into common stock indicates a transition towards a public company structure.
• Exercise of warrants suggests potential for further investment and capital infusion into the company.
• The filing details a comprehensive set of transactions, providing transparency on ownership changes.

Negatives

• The filing does not contain financial performance data, making it impossible to assess the company's financial health.
• Details regarding the specific terms of conversion for convertible notes are complex and may have implications for dilution.

Risks

• The exercise price of Series D Preferred Stock Warrants is $4.207 per share, with an expiration date of May 25, 2033.
• The conversion price of Convertible Notes is subject to a formula involving the IPO price and pre-offering valuation, which could lead to significant dilution depending on the IPO valuation.
• The filing is part of a series of five Forms 4, indicating a complex ownership structure that could be subject to further reporting or scrutiny.

Future Outlook

The filing primarily details past transactions related to ownership changes and does not contain forward-looking financial guidance or outlook statements.

Management Comments

• The filing is the second of five Forms 4 filed relating to the same event, necessitated by the SEC's EDGAR system limit of 10 reporting persons per form.
• Signatures indicate that Gilbert Garcia II, Vice President of several GPG entities, and individuals Clay M. Heighten, MD, Carl D. Soderstrom, and Gilbert G. Garcia II are signing on behalf of the reporting persons.

Industry Context

StockSavvy.ai notes that this Form 4 filing for Mobia Medical, Inc. (MOBI) is typical for companies undergoing or having recently completed an initial public offering, detailing the conversion of various investment instruments into common stock and changes in insider holdings.

Related Party Transactions

• Green Park & Golf Ventures II, LLC is the managing member of several other LLCs (JCT, MTI 22, MTI 25, MTI 3-17, PHL, and RM) that hold securities.
• Clay M. Heighten, MD, Carl D. Soderstrom, and Gilbert G. Garcia II are managers of Green Park & Golf Ventures II, LLC and share voting and dispositive power over securities held by the affiliated LLCs, potentially indicating shared beneficial ownership.

Stakeholder Impact

• Shareholders: The conversion of preferred stock and convertible notes may lead to an increase in the total number of outstanding common shares, potentially impacting dilution.
• Investors: The filing provides transparency on significant insider holdings and transactions, which is crucial for investment decisions.
• Management and Insiders: The reporting of these transactions is a regulatory requirement for individuals and entities with significant ownership stakes.

Next Steps

• Further Forms 4 are expected to be filed to report the complete set of ownership changes for all involved parties.
• The company's initial public offering is implied as a significant upcoming or recent event.

Key Dates

Keywords

Mobia Medical, MOBI, Form 4, SEC Filing, Beneficial Ownership, Green Park & Golf Ventures II, LLC, Preferred Stock Conversion, Convertible Notes, Warrant Exercise, Initial Public Offering, Insider Trading