Attovia (ATTO) 10% Owner Redmile Acquires 1.38M Shares

What Happened

• Redmile Group, LLC (reported as a 10% owner) acquired a total of approximately 1,382,854 shares of Attovia Therapeutics (ATTO) on Aug 6, 2026. This consisted of: (a) automatic conversion of 782,854 shares of Series B preferred into common stock upon Attovia's IPO (no cash consideration), and (b) open-market / IPO purchases of 200,000 and 400,000 common shares at $17.00 each (600,000 shares total), totaling $10,200,000 in cash purchases.
• The filing also shows the corresponding derivative security (the Series B preferred) was converted (reported as a disposition of the derivative), which is a structural change rather than a sale of common stock.

Key Details

• Transaction date: August 6, 2026; Form 4 filed Aug 7, 2026 (timely).
• Purchase price(s): $17.00 per share for the 600,000 purchased shares; total cash outlay = $10,200,000. Conversion shares were issued for no consideration under the IPO conversion terms.
• Shares acquired via conversion: 782,854; shares purchased: 600,000; combined newly acquired shares ≈ 1,382,854.
• Shares owned after transaction: Not specified in the provided filing excerpt.
• Notable footnotes:
  • F1: Series B preferred converted automatically into common upon the IPO for no consideration.
  • F2–F4: The converted and purchased securities are held by Redmile-managed vehicles (notably Redmile Biopharma Investments III, L.P. and other Redmile clients). Redmile and Jeremy Green (principal) may be deemed beneficial owners in their managerial capacity but disclaim beneficial ownership except to the extent of any pecuniary interest.
• No indication this was a sale or tax-withholding event; purchases signal accumulation rather than disposition.

Context

• This activity is by an institutional 10% owner and related private investment vehicles managed by Redmile, not by an Attovia executive — institutional buys can reflect manager conviction but are not the same as insider executive buying.
• The conversion of preferred stock into common upon IPO is a routine corporate event (not an exercise or market sale) that increased common shares outstanding for the holder.
• Purchases were at the IPO price ($17.00), indicating participation in the offering/secondary placement rather than opportunistic open-market buys after listing.