Jeito II S.L.P. Discloses 7.8% Stake in Odyssey Therapeutics Following IPO

summarizeSummary

Investment fund Jeito II S.L.P. and its affiliates disclosed a 7.8% beneficial ownership stake in Odyssey Therapeutics, established through IPO participation and conversion of prior investments.

check_boxKey Events

• Significant Stake Disclosure

  Jeito II S.L.P. and its affiliates reported beneficial ownership of 3,690,145 shares, representing 7.8% of Odyssey Therapeutics' common stock.

• IPO Participation

  Jeito II S.L.P. purchased 1,388,888 shares at $18.00 per share in the company's recent Initial Public Offering, totaling approximately $25 million. This purchase was made at a slight premium to the current stock price of $17.59.

• Conversion of Prior Investments

  The stake also includes shares obtained from the automatic conversion of Series D preferred stock and warrants in connection with the IPO.

• Lock-Up Agreement

  Jeito II S.L.P. entered into a 180-day lock-up agreement, restricting the sale of shares post-IPO, indicating a long-term investment horizon.

auto_awesomeAnalysis

This Schedule 13D filing reveals a significant vote of confidence from Jeito II S.L.P., a private investment fund, and its management company, Jeito Capital SAS, in Odyssey Therapeutics following its recent IPO. Their substantial 7.8% stake, including a $25 million direct purchase in the IPO at $18.00 per share, demonstrates strong institutional backing. The associated 180-day lock-up agreement and the presence of a Jeito Capital SAS executive on the board further signal a long-term commitment to the company's future.