SCHEDULE: GROW Funds Reduces Stake in TELA Bio to Below 5%

GROW Funds, LLC has filed an amendment to its Schedule 13G, indicating its beneficial ownership in TELA Bio, Inc. common shares has fallen to 5% or less.

Summary

• GROW Funds, LLC filed an Amendment No. 1 to Schedule 13G concerning TELA Bio, Inc. common shares (CUSIP 872381108).
• The event requiring this filing occurred on September 30, 2025.
• GROW Funds, LLC now beneficially owns 5% or less of TELA Bio, Inc.'s common shares.
• The securities were acquired and are held in the ordinary course of business, not for the purpose of changing or influencing control of the issuer.

Sentiment

Score: 4

Explanation: The reduction in beneficial ownership by GROW Funds, LLC to 5% or less could be perceived as a negative signal by the market, indicating a potential divestment or reduced conviction from a significant institutional investor. However, the filing itself is a routine disclosure of ownership change.

Negatives

• GROW Funds, LLC has reduced its beneficial ownership in TELA Bio, Inc. to 5% or less, which may signal a lack of conviction or a strategic divestment by a notable institutional investor.

Future Outlook

No forward-looking statements or guidance were provided in this beneficial ownership filing.

Management Comments

• The securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under 240.14a-11.

Industry Context

This filing represents a routine disclosure of a change in institutional beneficial ownership. A reduction in a significant stake by an institutional investor can sometimes be interpreted as a signal regarding the company's prospects or the investor's portfolio strategy, but it is a common occurrence in the market.

Stakeholder Impact

• Shareholders may react to the news of a significant institutional investor reducing their stake, potentially influencing market sentiment and share price.

Key Dates

Recommendation

The filing indicates a reduction in beneficial ownership by GROW Funds, LLC to 5% or less. While this is a notable change in institutional holdings, it does not provide sufficient information to warrant a strong buy or sell recommendation. Investors should monitor TELA Bio's performance and other institutional filings for a more comprehensive view before making significant investment decisions.

Keywords

TELA Bio, common shares, Schedule 13G, beneficial ownership, GROW Funds, institutional investor, stake reduction