Director Buys $11.5M of Iambic Stock at IPO Price; Preferred Converts to Common

summarizeSummary

Iambic director Evan Lockwood Rachlin bought 718,750 shares at $16.00 in the IPO for $11.5 million, while 1.93 million preferred shares and notes converted into common stock ahead of listing.

check_boxKey Events · Ownership and Investor Activity · IAM

• Director Buys $11.5M at IPO Price

  Evan Lockwood Rachlin acquired 718,750 shares at $16.00 on 2026-10-16, an open-market purchase totaling $11.5 million.

• Preferred and Notes Convert to Common

  Immediately prior to the IPO, 1,927,252 common shares were issued on conversion of Series B, Series B-3 preferred and convertible notes; the notes converted at 85% of the $16.00 IPO price.

• Post-Transaction Stake of 2.59M Shares

  Holdings are indirect through Ascenta Capital Fund I and Ascenta Capital Project Turing SPV; the reporting person disclaims beneficial ownership beyond his pecuniary interest.

• Follows October 15 IPO Pricing

  The purchase comes one day after Iambic priced its IPO at $16.00 per share, the midpoint of the $15-$17 range, raising $150 million gross.

auto_awesomeAnalysis · IAM · Life Sciences

A board member putting $11.5 million of real money to work at the IPO price is a meaningful vote of confidence right as the stock begins trading. Director Evan Lockwood Rachlin, through Ascenta Capital, bought 718,750 shares at $16.00 in an open-market purchase — not an option exercise or grant. The same filing shows 1,927,252 preferred shares and convertible notes automatically converting into common stock ahead of the IPO, a standard mechanical cleanup of the pre-IPO capital structure rather than new dilution. Those notes converted at 85% of the IPO price, a 15% discount that was a pre-existing term.