Apnimed (APMD) 10% Owner Alpha Wave Converts Note into Shares

What Happened

• Alpha Wave Ventures GP, Ltd (a general partner of the 10% owner Alpha Wave Ventures) reported multiple conversions of derivative securities into Apnimed (APMD) common stock in connection with the company's IPO. The filing shows acquisitions of 1,001,651; 534,214; 4,006,611 and 1,512,480 shares (the last line reported at $13.50 per share, valued at $20,418,480). Several other conversion/disposition line items are reported at $0 or N/A consistent with reclassifications of prior preferred/Class A holdings and derivative positions.

Key Details

• Transaction date: 2026-08-03; Form 4 filed: 2026-08-05 (timely filing).
• Notable line: 1,512,480 shares reported acquired at $13.50 per share, total $20,418,480.
• Other conversion line items show acquisitions (totaling 7,054,956 shares across lines shown) and disposals/reclassifications (several lines totaling 7,476,800 shares reported at $0 or N/A).
• Shares owned after transaction: not specified in the excerpt provided.
• Relevant footnotes:
  • F6: A $20,000,000 principal + $1,779,726 accrued interest convertible promissory note automatically converted at the IPO; the filing explains the number of shares reported was calculated using the note amount (the footnote references a $14.40 conversion price).
  • F1–F2: Prior Preferred and Class A common shares were automatically converted/reclassified into Common Stock at IPO.
  • F3–F4: Alpha Wave Ventures GP is the GP of Alpha Wave Ventures II, LP and disclaims beneficial ownership except to the extent of pecuniary interest; this is institutional reporting, not an individual executive.
• No 10b5-1 plan, tax withholding or late-filing flag indicated in the provided data.

Context

• These entries reflect conversions and reclassifications tied to Apnimed's IPO (automatic conversion of preferred stock and conversion of a convertible promissory note), not an open-market purchase or executive sale. For retail investors, this is institutional-level, paperwork-driven issuance of shares arising from prior financing and reclassification events rather than routine insider trading activity.