SCHEDULE: Samsara Entities Adjust Scholar Rock Holdings

Samsara BioCapital entities and Dr. Srinivas Akkaraju updated their beneficial ownership in Scholar Rock Holding Corp. through a series of private and open market transactions.

Summary

• Samsara Opportunity Fund purchased 276,578 shares of common stock from Samsara BioCapital, L.P. in a private sale on October 3, 2025, for $37.44 per share, totaling $10,355,080.32.
• Samsara Opportunity Fund acquired an additional 110,836 shares through open market transactions on October 3, 2025, at weighted-average prices ranging from $35.61 to $37.32 per share.
• Samsara Opportunity Fund further purchased 113,025 shares in open market transactions on October 6, 2025, at weighted-average prices ranging from $37.89 to $39.52 per share.
• Samsara BioCapital, L.P. also sold 33,508 shares in an open market transaction on October 3, 2025, which were held for the exclusive benefit of redeemed limited partners.
• The purchases by Samsara Opportunity Fund were funded by capital contributions from its general and limited partners, and a $608,000 short-term working capital loan from Samsara BioCapital LLC.
• As of the filing date, Dr. Srinivas Akkaraju beneficially owns an aggregate of 6,991,553 shares, representing 7.2% of Scholar Rock Holding Corp.'s common stock.
• Samsara BioCapital, L.P. beneficially owns 6,367,614 shares, representing 6.6% of the class.
• Samsara Opportunity Fund, L.P. beneficially owns 500,439 shares, representing 0.5% of the class.
• Beneficial ownership calculations are based on 96,127,265 shares outstanding as of August 1, 2025, plus 1,064,804 shares issuable from RD Warrants and 110,000 shares from Dr. Akkaraju's stock options.

Sentiment

Score: 6

Explanation: The filing indicates a strategic reallocation of shares among related investment entities, with an overall increase in beneficial ownership by Dr. Akkaraju and the Samsara Opportunity Fund. This suggests continued conviction in the issuer, although some shares were sold by Samsara LP due to limited partner redemptions.

Positives

• The increase in beneficial ownership by Samsara Opportunity Fund and Dr. Srinivas Akkaraju suggests continued conviction in Scholar Rock Holding Corp.'s prospects.
• The internal transfer of shares from Samsara BioCapital, L.P. to Samsara Opportunity Fund for redeemed limited partners indicates an orderly management of investor redemptions within the investment group.

Future Outlook

This filing does not contain specific forward-looking statements or guidance regarding Scholar Rock Holding Corp.'s future operational or financial performance.

Industry Context

This filing primarily details changes in beneficial ownership by a venture capital group in a biotechnology company. It reflects investment activity within the biotech sector but does not provide broader industry trend analysis.

Related Party Transactions

• Samsara Opportunity Fund purchased 276,578 shares of common stock from Samsara BioCapital, L.P. in a private sale. Both entities are managed by Dr. Srinivas Akkaraju.
• Samsara Opportunity Fund received a short-term working capital loan of $608,000 from Samsara BioCapital LLC, which is also related to the reporting persons.

Stakeholder Impact

• Shareholders: The increased aggregate beneficial ownership by Dr. Akkaraju and related entities could be viewed as a vote of confidence in Scholar Rock Holding Corp. The internal restructuring of holdings does not directly impact other shareholders' positions or rights.

Key Dates

Recommendation

The filing details an internal reallocation of shares among Samsara BioCapital entities and an overall increase in beneficial ownership by Dr. Srinivas Akkaraju and Samsara Opportunity Fund. While this indicates continued conviction from these investors, it does not present new fundamental information about Scholar Rock Holding Corp.'s operational performance or strategic direction that would warrant a change from a 'hold' position. The transactions are primarily a restructuring of existing investment positions.

Keywords

Scholar Rock Holding Corp, SRRK, Samsara BioCapital, Samsara Opportunity Fund, Srinivas Akkaraju, Beneficial Ownership, Schedule 13D, Biotechnology, Investment, Venture Capital