Form 4: Forbion Funds Reduce Stake in NewAmsterdam Pharma Through Multiple Share Sales

Forbion Capital funds have sold a portion of their NewAmsterdam Pharma holdings over several days, reducing their overall stake.

Summary

• ForGrowth NAP B.V., along with related Forbion entities, executed multiple sales of NewAmsterdam Pharma Co N.V. ordinary shares between December 10th and December 11th, 2024.
• These transactions were conducted under a pre-arranged Rule 10b5-1 trading plan adopted by NAP PoolCo B.V. on March 28, 2024.
• The sales were made on behalf of Forbion Growth Opportunities Fund I Cooperatief U.A. and Forbion Capital Fund IV Cooperatief U.A.
• The weighted average sale prices ranged from $25.2184 to $27.109 per share.
• The total number of shares sold across the transactions was 459,788.
• Following these transactions, ForGrowth NAP B.V.'s beneficial ownership decreased from 11,519,021 to 11,316,472 ordinary shares.

Sentiment

Score: 4

Explanation: The document indicates a reduction in a major shareholder's stake, which could be viewed negatively by the market, but the sales were pre-planned and expected.

Negatives

• The sale of shares by Forbion funds indicates a reduction in their stake in NewAmsterdam Pharma.

Risks

• Continued selling pressure from major shareholders could negatively impact the share price.
• The Rule 10b5-1 trading plan suggests further sales may occur in the future.

Future Outlook

The document does not provide any specific forward-looking statements, but the existence of a Rule 10b5-1 trading plan suggests that further sales may occur.

Industry Context

This filing reflects routine trading activity by a major shareholder and is common in the biotech industry where venture capital funds often monetize their investments over time.

Comparison to Industry Standards

• The use of a Rule 10b5-1 trading plan is a common practice for insiders and major shareholders to sell shares without being accused of trading on inside information.
• The share sales are similar to those seen in other biotech companies where early investors gradually reduce their holdings after a company goes public.
• The price range of the sales is within the typical volatility range for a company in the biotech sector.

Stakeholder Impact

• The share sales could potentially put downward pressure on the share price, impacting shareholders.
• The reduction in a major shareholder's stake may cause some concern among investors.

Key Dates

Keywords

NewAmsterdam Pharma, Forbion Capital, Share Sale, Rule 10b5-1, Beneficial Ownership, NAMS