SCHEDULE: Empery Asset Management Discloses 9.99% Stake in X4 Pharma
Beneficial Ownership Report
Empery Asset Management and its managing members have disclosed a 9.99% beneficial ownership stake in X4 Pharmaceuticals, Inc., including shares from warrants.
Summary
- Empery Asset Management, LP, Ryan M. Lane, and Martin D. Hoe collectively reported beneficial ownership of 2,498,162 shares of X4 Pharmaceuticals, Inc. common stock.
- This ownership represents 9.99% of X4 Pharmaceuticals' outstanding common stock.
- The reported stake includes 106,946 shares of common stock that are issuable upon the exercise of warrants.
- The percentage is calculated based on an aggregate of 24,899,689 shares of common stock outstanding.
- This total includes 22,449,689 shares outstanding as of August 13, 2025, and an additional 2,450,000 shares issued from warrant exercises between August 13, 2025, and September 30, 2025.
- A 'Blocker' provision prevents the reporting persons from exercising warrants if it would result in them beneficially owning more than 9.99% of the outstanding common stock.
Sentiment
Score: 5
Explanation: This is a routine disclosure of beneficial ownership by a passive investor group, not an operational or financial performance report. It indicates a significant, but passive, investment and does not inherently convey positive or negative sentiment about the company's performance.
Risks
- The 'Blocker' provision limits the ability of Empery Asset Management and its affiliates to increase their ownership stake beyond 9.99% through warrant exercises, potentially restricting their influence or future investment flexibility.
Future Outlook
N/A, this filing is a disclosure of current beneficial ownership and does not contain forward-looking statements or guidance from the company.
Industry Context
This filing is a routine disclosure of a significant passive investment by an asset management firm in a biotechnology company. It does not provide specific insights into broader industry trends or competitive positioning beyond indicating investor interest in X4 Pharmaceuticals.
Stakeholder Impact
- Shareholders: Indicates a significant, passive investment by an institutional investor, which can be viewed as a vote of confidence in the company, though without intent to influence control.
Key Dates
| Date | Description |
|---|---|
| 08/13/2025 | Date as of which 22,449,689 shares of Common Stock were outstanding. |
| 09/18/2025 | Date of X4 Pharmaceuticals' Prospectus Supplement filing pursuant to Rule 424(b)(3). |
| 09/30/2025 | Date of the event which required the filing of this statement (beneficial ownership threshold met). |
| 10/21/2025 | Date the Schedule 13G and Joint Acquisition Statement were signed by the Reporting Persons. |
Keywords
X4 Pharmaceuticals, Empery Asset Management, Beneficial Ownership, Schedule 13G, Common Stock, Warrants, Investment Management
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