Form 4: Zenas BioPharma Insider Filing: Enavate Sciences GP, LLC and Zebra Aggregator, LP Report Beneficial Ownership Changes After IPO

Enavate Sciences GP, LLC and Zebra Aggregator, LP report changes in beneficial ownership of Zenas BioPharma, Inc. common stock following the conversion of preferred stock in connection with the company's initial public offering.

Summary

• Enavate Sciences GP, LLC and Zebra Aggregator, LP filed a Form 4 detailing changes in their beneficial ownership of Zenas BioPharma, Inc. (ZBIO) common stock.
• The changes occurred on September 16, 2024, due to the conversion of Series B and Series C preferred stock into common stock at a ratio of 8.6831-for-one.
• Zebra Aggregator, LP acquired 882,353 shares of common stock for $17 per share.
• Following these transactions, Zebra Aggregator, LP beneficially owns 3,761,359 shares of common stock.
• Enavate Sciences GP, LLC, as the general partner of Zebra Aggregator, LP, may be deemed to share voting and investment power over these shares but disclaims beneficial ownership except to the extent of its pecuniary interest.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing, so the sentiment is neutral. It simply reports transactions related to beneficial ownership.

Management Comments

• Enavate disclaims beneficial ownership of these shares except to the extent of its pecuniary interest therein, and the inclusion of these shares in this report shall not be deemed an admission of beneficial ownership of the reported securities for purposes of Section 16 or for any other purpose.

Industry Context

Form 4 filings are standard practice following significant transactions, such as an IPO, to disclose changes in beneficial ownership by insiders, ensuring transparency and compliance with SEC regulations.

Stakeholder Impact

• The filing provides transparency to shareholders regarding the ownership structure of the company after the IPO.

Key Dates