SCHEDULE 13D/A: HealthQuest Entities and Garheng Kong Update Significant Stake in Venus Concept Inc. to Nearly 10%

HealthQuest Partners II, L.P., HealthQuest Venture Management II, L.L.C., and Garheng Kong have filed an Amendment No. 5 to their Schedule 13D, updating their beneficial ownership in Venus Concept Inc. to 9.8% and 9.9% respectively, as of December 31, 2024.

Summary

• HealthQuest Partners II, L.P. and HealthQuest Venture Management II, L.L.C. collectively beneficially own 7,538,622 shares of Venus Concept Inc. common stock, representing 9.8% of the class.
• This share count includes 60,000 shares issuable upon exercise of warrants and 223,345 shares issuable upon conversion of preferred stock.
• Dr. Garheng Kong, managing member of HealthQuest Venture Management II, L.L.C., beneficially owns 7,546,860 shares, representing 9.9% of the class.
• Kong's beneficial ownership includes the shares held by HealthQuest II, plus an additional 7,718 shares from immediately exercisable options and 520 shares from options exercisable within 60 days.
• The percentage ownership calculations are based on 7,255,277 shares of Venus Concept Inc. Common Stock outstanding as of December 31, 2024, as reported in the Issuer's Proxy Statement filed on January 10, 2025.
• This filing is Amendment No. 5 to the original Schedule 13D filed on November 18, 2019, and its primary purpose is to update the aggregate percentage of the class of securities owned by the Reporting Persons.

Sentiment

Score: 6

Explanation: The sentiment is neutral to slightly positive. It's a routine update to beneficial ownership, indicating continued significant investment by HealthQuest and Dr. Kong, which can be seen as a vote of confidence. There are no negative disclosures or changes in intent.

Positives

• The reporting persons, including HealthQuest Partners II, L.P. and Dr. Garheng Kong, maintain a significant beneficial ownership stake of nearly 10% in Venus Concept Inc., indicating continued investor confidence.

Future Outlook

This Schedule 13D filing primarily updates beneficial ownership percentages and does not contain forward-looking statements or guidance regarding the Issuer's future operations or financial performance. It reflects the current ownership structure of the reporting entities.

Industry Context

This filing is a routine disclosure of significant beneficial ownership, common in the public markets. It indicates that a key institutional investor and its principal continue to hold a substantial stake in Venus Concept Inc., a company likely operating in the medical aesthetics or healthcare technology sector given its name. Such filings provide transparency on major shareholder positions but do not inherently reflect broader industry trends or competitive dynamics.

Stakeholder Impact

• Shareholders: Provides transparency regarding the significant ownership stake held by HealthQuest Partners II, L.P., HealthQuest Venture Management II, L.L.C., and Dr. Garheng Kong, which can influence market perception and trading activity.

Key Dates

Recommendation

Keywords

Venus Concept Inc., HealthQuest Partners II L.P., HealthQuest Venture Management II L.L.C., Garheng Kong, Schedule 13D, Beneficial Ownership, Common Stock, Warrants, Preferred Stock, SEC Filing, Investment, Shareholder