SCHEDULE 13D/A: Foundation Fighting Blindness Entities Increase Stake in Opus Genetics to 15.9% Following Preferred Stock Conversion

Foundation Fighting Blindness Retinal Degeneration Fund and Foundation Fight Blindness, Inc. have increased their beneficial ownership in Opus Genetics, Inc. to 15.9% of common stock following the automatic conversion of preferred shares.

Summary

• The filing is an Amendment No. 1 to Schedule 13D, updating the beneficial ownership of Opus Genetics, Inc. common stock.
• The reporting persons are Foundation Fighting Blindness Retinal Degeneration Fund and Foundation Fight Blindness, Inc.
• As of April 30, 2025, the reporting persons beneficially own an aggregate of 9,492,171 shares of Opus Genetics, Inc. Common Stock.
• This represents 15.9% of the Issuer's outstanding Common Stock.
• The change in beneficial ownership percentage is a result of the automatic conversion of the Issuer's Series A non-voting convertible preferred stock into common stock.
• The conversion was triggered on the third business day after Opus Genetics' stockholders approved the conversion on April 30, 2025.
• The percentage is calculated based on 59,629,197 shares of Common Stock outstanding, which includes the converted Preferred Stock plus 45,483,823 shares of Common Stock outstanding as of March 27, 2025, as reported in the Issuer's Form 10-K filed March 31, 2025.

Sentiment

Score: 6

Explanation: The document is a factual disclosure of a change in beneficial ownership resulting from a pre-approved corporate action (preferred stock conversion). It is neutral in tone but the conversion itself can be seen as a positive step in capital structure simplification.

Positives

• The conversion of preferred stock to common stock simplifies Opus Genetics' capital structure.
• For the Foundation Fighting Blindness entities, the conversion solidifies their direct equity stake in Opus Genetics' common shares.

Future Outlook

This filing does not contain any forward-looking statements or guidance regarding the company's future operations or financial performance.

Management Comments

• The filing indicates that the Amendment No. 1 to Schedule 13D is being filed to show the change in percentage of beneficial ownership held by the Reporting Persons as a result of the automatic conversion of the Issuer's Preferred Stock.

Industry Context

This Schedule 13D amendment reflects a routine ownership disclosure following a corporate action (preferred stock conversion) common in the lifecycle of companies, particularly those in the biotechnology sector like Opus Genetics, which often utilize preferred stock for early-stage funding. The involvement of a foundation focused on fighting blindness aligns with the company's likely focus on genetic therapies for ocular diseases.

Corporate Governance

Stakeholder Impact

• Shareholders: The reporting persons (Foundation Fighting Blindness entities) now hold a larger direct stake in the common equity, potentially increasing their influence and aligning their interests more closely with common shareholders. Other common shareholders may see an increase in the float of common shares.

Key Dates

Keywords

Opus Genetics, Foundation Fighting Blindness, Schedule 13D, beneficial ownership, common stock, preferred stock conversion, SEC filing, biotechnology, retinal degeneration