SCHEDULE: Murchinson Ltd. and Affiliates Report 9.99% Stake in Valion Bio

Murchinson Ltd. and its affiliated entities have reported beneficial ownership of 9.99% of Valion Bio, Inc.'s common stock, primarily through Series C preferred stock conversion rights.

Summary

• Murchinson Ltd. and several affiliated entities (including Marc Bistricer, BPY Ltd., NOMIS BAY LTD., NOMIS BAY OPPORTUNITY LTD., EOM Management Ltd., James Keyes, Jason Jagessar, and Chaja Carlebach) have jointly filed a Schedule 13G.
• The filing indicates beneficial ownership of 440,242 shares of Valion Bio, Inc. common stock, representing 9.99% of the class.
• This ownership is primarily derived from the right to acquire shares through the conversion and/or exercise of Series C preferred stock.
• A 'blocker' provision limits the exercise or conversion of preferred stock to prevent beneficial ownership exceeding 9.99% of outstanding shares.
• The filing states that the reporting persons do not currently beneficially own all reported shares, but may acquire them within 60 days, subject to the blocker.
• The total number of outstanding shares as of July 10, 2026, was reported by the Issuer as 4,151,259.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this filing as neutral, as it is a standard disclosure of beneficial ownership and does not inherently indicate positive or negative performance or strategic shifts for Valion Bio, Inc.

Positives

• The reporting persons have a significant stake, reaching the 9.99% threshold, indicating substantial investment interest.
• The filing is current and reflects an updated ownership position as of July 17, 2026.

Negatives

• The reporting persons do not currently beneficially own all the shares reported, with ownership contingent on conversion rights and subject to a blocker.
• The 'blocker' mechanism limits the ability to convert preferred stock, capping potential ownership at 9.99%.

Risks

• The 'blocker' provision limits the reporting persons' ability to increase their stake beyond 9.99% through preferred stock conversion.
• The ownership is based on the potential conversion of preferred stock, which may be subject to market conditions or other factors affecting conversion value.

Future Outlook

The future outlook is not detailed in this filing, which primarily concerns current beneficial ownership and rights to acquire shares.

Management Comments

• The reporting persons may be deemed to have shared voting and dispositive power with respect to the Shares.
• The number of Shares reported reflects the amount that can be acquired within 60 days, subject to the Blocker.
• This Schedule 13G shall not be deemed an admission that the Reporting Persons are beneficial owners of the Shares for purposes of Section 13 of the Securities Exchange Act of 1934, as amended, or for any other purpose.
• Each of the Reporting Persons disclaims beneficial ownership of the Shares reported herein except to the extent of the Reporting Person's pecuniary interest, if any, therein.

Industry Context

StockSavvy.ai notes that Schedule 13G filings are common for institutional investors and significant shareholders to disclose their holdings. The 9.99% threshold is often a strategic point for investors to manage disclosure requirements and potential influence.

Stakeholder Impact

• Shareholders: The filing provides transparency on a significant ownership block, which can influence market perception and trading dynamics.
• Management: The company is aware of the reporting persons' stake and their potential influence, which may be a factor in strategic decision-making.

Next Steps

• The reporting persons will continue to monitor their beneficial ownership levels in Valion Bio, Inc.
• Further filings may be required if ownership levels change or if the nature of their investment intent changes.

Key Dates

Keywords

Valion Bio, Schedule 13G, Murchinson Ltd., Beneficial Ownership, Preferred Stock, Securities Filing, Investment, Blocker Provision