Foresite Capital Reveals 14.5% Stake in Latigo Biotherapeutics After IPO

summarizeSummary

After the IPO, Foresite Capital entities and James B. Tananbaum hold 14.5% of Latigo Biotherapeutics, with all preferred shares and a convertible note converted to common stock.

check_boxKey Events · Ownership and Investor Activity · LTGO

• 14.5% Aggregate Stake Disclosed

  James B. Tananbaum and Foresite Capital entities report beneficial ownership of 9,181,328 shares, representing 14.5% of Latigo Biotherapeutics.

• Preferred Shares Converted at IPO

  All Series A-2 and Series B preferred shares automatically converted to common stock at the $18.00 IPO price, along with a $3.5M convertible note.

• IPO Purchase by Fund VI

  Fund VI purchased 140,000 shares at $18.00 per share, totaling $2.52M, in the IPO, as previously reported in Form 4 filings.

• 180-Day Lock-Up Restricts Sales

  Lock-up agreements with underwriters prevent sales of shares for 180 days after the IPO, reducing near-term selling pressure.

auto_awesomeAnalysis · LTGO · Life Sciences

Following Latigo's IPO, Foresite Capital and James B. Tananbaum report aggregate beneficial ownership of 9,181,328 shares, or 14.5% of the company. The filing details how preferred shares and a $3.5M convertible note converted into common stock at the $18.00 IPO price, alongside a 140,000-share open-market purchase by Fund VI. Lock-up agreements restrict sales for 180 days, which limits near-term overhang.