SCHEDULE: North Run Capital Boosts Stake in Scientific Industries

North Run Capital and affiliated entities have reported a 9.99% beneficial ownership stake in Scientific Industries, Inc., comprising common stock and exercisable warrants.

Summary

• North Run Capital, LP, North Run Advisors, LLC, Todd B. Hammer, Thomas B. Ellis, Michael Bosco, North Run Due North Partners, LP, and North Run GP, LP (collectively, the "Reporting Persons") have filed an Amendment No. 4 to Schedule 13G.
• The Reporting Persons collectively beneficially own 1,189,632 shares of Scientific Industries, Inc. Common Stock.
• This ownership represents 9.99% of the outstanding shares of Common Stock.
• The beneficial ownership consists of 835,000 shares of Common Stock and 354,632 warrants exercisable to purchase shares of Common Stock within 60 days.
• The total number of warrants held by Reporting Persons is 920,000, but only 354,632 are currently exercisable due to beneficial ownership limitations.
• The percentage of class was calculated based on 11,553,599 shares of Common Stock outstanding as of August 19, 2025, as reported in the Issuer's Form 10-Q, plus the exercisable warrants.
• All Reporting Persons share voting and dispositive power over the 1,189,632 beneficially owned shares.
• The securities were not acquired or held for the purpose of changing or influencing control of the issuer, other than activities solely in connection with a nomination under Rule 14a-11.

Sentiment

Score: 6

Explanation: The sentiment is moderately positive due to an investment group taking a significant stake, which can be interpreted as a vote of confidence. However, the filing is purely factual and does not contain performance-related information.

Positives

• Increased institutional ownership by North Run Capital and its affiliates may signal confidence in Scientific Industries, Inc.'s long-term prospects.
• The investment group holds a significant stake, approaching the 10% threshold, which could indicate a committed interest in the company's performance.

Negatives

• NA

Risks

• The filing states that the securities were not acquired or held for the purpose of changing or influencing control, but the significant stake could still lead to increased scrutiny or potential activist engagement, even if limited to nominations under Rule 14a-11.

Future Outlook

This filing is a disclosure of beneficial ownership and does not contain forward-looking statements or guidance from the issuer or the reporting persons regarding the issuer's future performance.

Industry Context

The filing indicates a significant stake taken by an investment firm in a publicly traded company, which is a common occurrence in the financial markets. Such disclosures are closely watched by other investors for signals of institutional interest or potential strategic moves.

Stakeholder Impact

• Shareholders: The disclosure of a significant institutional stake could be viewed positively, potentially increasing investor confidence and liquidity.
• Management: The presence of a large shareholder group, even if passive, may lead to increased engagement or oversight, particularly concerning corporate governance matters.

Key Dates

Keywords

Scientific Industries, North Run Capital, Beneficial Ownership, Schedule 13G, Common Stock, Warrants, Institutional Investor, SEC Filing