PROK.NASDAQProkidney CORP

Form 4: ProKidney Corp: Legorreta and Tolerantia Report Changes in Beneficial Ownership

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SEC Form 4

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Pablo Legorreta and Tolerantia, LLC report changes in beneficial ownership of ProKidney Corp. securities, involving the exchange and distribution of Class A Ordinary Shares.

Summary

  • On February 4, 2025, Tolerantia, LLC, an affiliate controlled by Pablo Legorreta, exchanged 532,535 Common Units in ProKidney LP and Class B Ordinary Shares for 532,535 Class A Ordinary Shares.
  • These Class A Ordinary Shares were then distributed pro rata to unaffiliated investors for no consideration.
  • Following these transactions, Tolerantia's holdings include 22,617,909 Class A Ordinary Shares, 88,107,426 Class B Ordinary Shares, and 88,107,426 Common Units in ProKidney LP.
  • Pablo Legorreta disclaims beneficial ownership of the equity interests held by Tolerantia except to the extent of his indirect pecuniary interest therein.

Sentiment

Score: 5

Explanation: The document is a standard SEC filing detailing changes in ownership, with no inherent positive or negative sentiment.

Industry Context

This filing reflects changes in ownership structure following a business combination, which is a common occurrence in the biotech industry as companies seek funding and public listing.

Stakeholder Impact

  • The distribution of Class A Ordinary Shares to unaffiliated investors may have a minor impact on the shareholder base.

Key Dates

DateDescription
January 18, 2022Date of the Business Combination Agreement between Social Capital Suvretta Holdings Corp. III (now ProKidney Corp.) and ProKidney LP.
February 4, 2025Date of the transaction involving the exchange and distribution of shares.
February 6, 2025Date of the filing of the Form 4.

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