SCHEDULE: Renovaro Inc. Shareholder William Wittekind's Stake Diluted to 8.0% Following Convertible Note Conversions
Beneficial Ownership Update
William Anderson Wittekind's beneficial ownership in Renovaro Inc. has decreased from 10.4% to 8.0% due to the impending issuance of 53.6 million new shares from convertible note conversions.
Summary
- William Anderson Wittekind, the sole reporting person, now beneficially owns 18,133,196 shares of Renovaro Inc. common stock.
- This represents 8.0% of the company's outstanding common stock, a decrease from the 10.4% reported in Amendment 20.
- The decrease in percentage ownership is a direct result of Renovaro Inc.'s plan to issue 53,600,000 new shares of common stock on or before July 11, 2025, upon the conversion of convertible notes.
- As of May 13, 2025, there were 172,118,569 shares of common stock outstanding.
- Wittekind holds sole voting and dispositive power over 5,606,644 shares through direct ownership, Weird Science LLC, and various annuity trusts.
- Wittekind shares voting and dispositive power over 12,526,552 shares, primarily through a power of attorney over shares owned by his spouse, Serhat Gumrukcu.
Sentiment
Score: 4
Explanation: The document primarily reports a dilution of a significant shareholder's stake due to new share issuance, which is generally a negative for existing shareholders' proportional ownership. The mention of a writ of attachment on a large block of shares also adds a negative element. There are no positive operational or financial updates.
Negatives
- William Anderson Wittekind's beneficial ownership percentage in Renovaro Inc. has decreased from 10.4% to 8.0%.
- A significant portion of the shares over which Wittekind shares voting and dispositive power (12,438,431 shares owned by Serhat Gumrukcu) are subject to a writ of attachment.
Risks
- 12,438,431 shares of common stock owned by Serhat Gumrukcu, over which William Anderson Wittekind shares voting and dispositive power, are subject to a writ of attachment. This writ was issued pursuant to an order of the United States District Court for the District of Vermont dated October 27, 2023, to secure a claim in "The Estate of Gregory Davis et al. v. Serhat Daniel Gumrukcu (Civil Case No. 5:22-cv-123)".
Future Outlook
The reporting person's beneficial ownership percentage in Renovaro Inc. is expected to decrease from 10.4% to 8.0% due to the impending issuance of 53,600,000 shares of common stock from the conversion of convertible notes, anticipated on or before July 11, 2025.
Industry Context
This filing reflects a common occurrence in publicly traded companies where significant shareholders experience dilution of their ownership percentage when new shares are issued, often through the conversion of debt instruments like convertible notes. Such events can impact voting power and influence for large shareholders.
Legal Proceedings
- 12,438,431 shares owned by Serhat Gumrukcu, over which William Anderson Wittekind shares voting and dispositive power, are subject to a writ of attachment. This writ was issued by the United States District Court for the District of Vermont on October 27, 2023, to secure a claim in "The Estate of Gregory Davis et al. v. Serhat Daniel Gumrukcu (Civil Case No. 5:22-cv-123)".
Stakeholder Impact
- Shareholders: Existing shareholders, including William Anderson Wittekind, will experience dilution of their ownership percentage due to the issuance of new shares.
- Creditors (Convertible Note Holders): Convertible note holders will convert their debt into equity, potentially reducing the company's debt burden but increasing its share count.
Next Steps
- Issuance of 53,600,000 shares of Common Stock by Renovaro Inc. on or before July 11, 2025, upon conversion of convertible notes.
Key Dates
| Date | Description |
|---|---|
| 2018-01-12 | Date of the original Agreement and Plan of Merger between the Issuer (then DanDrit BioTech USA, Inc.), DanDrit Acquisition Sub, Inc., Renovaro Biopharma, Inc. (then Enochian Biopharma Inc.), and Weird Science LLC. |
| 2022-06-24 | Date of power of attorney granted by Serhat Gumrukcu to William Anderson Wittekind, allowing shared voting and dispositive power over shares. |
| 2023-10-27 | Date of the United States District Court for the District of Vermont order subjecting 12,438,431 shares owned by Serhat Gumrukcu to a writ of attachment. |
| 2025-05-13 | Date as of which 172,118,569 shares of Common Stock were issued and outstanding, as disclosed in the Issuer's Form 10-Q. |
| 2025-05-15 | Date the Issuer's Form 10-Q was filed with the Commission, disclosing shares outstanding as of May 13, 2025. |
| 2025-07-09 | Date of the event which requires filing of this statement; also the date the Issuer filed a Form 8-K reporting the issuance of 53,600,000 shares. |
| 2025-07-10 | Date the Schedule 13D Amendment No. 21 was signed by William Anderson Wittekind. |
| 2025-07-11 | Latest date by which 53,600,000 shares of Common Stock are expected to be issued upon conversion of convertible notes. |
Keywords
Renovaro Inc., William Anderson Wittekind, Schedule 13D, beneficial ownership, common stock, share dilution, convertible notes, SEC filing, corporate governance, shareholding, writ of attachment
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