PureTech Health plc 4
4 · Seaport Therapeutics, Inc. · Filed May 6, 2026
Research Summary
AI-generated summary of this filing
Seaport Therapeutics (SPTX) 10% Owner PureTech Health plc Converts Preferred to Common
What Happened PureTech Health plc (reported as a 10% owner) converted multiple derivative securities of Seaport Therapeutics into common stock on May 4, 2026. The Form 4 shows disposal of 51,452,630 derivative/preferred shares (three conversion lots) and the acquisition of 16,382,534 common shares. All conversions reported a $0 cash price (i.e., no cash changed hands).
Key Details
- Transaction date: 2026-05-04; Form 4 filed 2026-05-06 (timely filing).
- Disposed (derivative/preferred) totals: 40,000,000; 8,421,052; 3,031,578 = 51,452,630.
- Acquired (common stock) totals: 12,736,014; 2,681,265; 965,255 = 16,382,534 common shares.
- Price / consideration: $0.00 for the disposed derivative securities (conversion, not a cash sale).
- Shares owned after transaction: Not specified in the information provided here (see the full Form 4 for total post-transaction beneficial ownership).
- Footnote F1: The Series A-1, A-2 and B Preferred were convertible into Common on a one-for-3.1407 basis and automatically converted on closing of the issuer’s IPO without payment. Footnote F2: PureTech LYT, Inc. is the record holder; PureTech Health plc is the ultimate owner and directs voting/disposition.
Context This is a conversion of derivative/preferred securities into common shares (corporate conversion event), not an open-market buy or sale. The reporting party is an institutional 10% owner (PureTech group), not an individual officer or director, so this filing reflects corporate ownership restructuring rather than a manager-level trade. Conversions at $0 are typical when preferred automatically convert into common under the terms noted in the footnote; they do not by themselves signal a buy/sell judgment by an insider.
Insider Transaction Report
- Conversion
Common Stock
[F1][F2]2026-05-04+12,736,014→ 13,038,493 total(indirect: See footnote) - Conversion
Common Stock
[F1][F2]2026-05-04+2,681,265→ 15,719,758 total(indirect: See footnote) - Conversion
Common Stock
[F1][F2]2026-05-04+965,255→ 16,685,013 total(indirect: See footnote) - Conversion
Series A-1 Preferred Stock
[F1][F2]2026-05-04−40,000,000→ 0 total(indirect: See footnote)→ Common Stock (12,736,014 underlying) - Conversion
Series A-2 Preferred Stock
[F1][F2]2026-05-04−8,421,052→ 0 total(indirect: See footnote)→ Common Stock (2,681,265 underlying) - Conversion
Series B Preferred Stock
[F1][F2]2026-05-04−3,031,578→ 0 total(indirect: See footnote)→ Common Stock (965,255 underlying)
Footnotes (2)
- [F1]Each share of Series A-1, Series A-2 and Series B Preferred Stock (collectively, the "Preferred Stock") was convertible into Common Stock of the Issuer on a one-for-3.1407 basis at the option of the holder, and automatically converted upon the closing of the Issuer's initial public offering without payment of further consideration. The Preferred Stock had no expiration date.
- [F2]PureTech LYT, Inc. is the record holder of all of the securities reported in this Form 4. PureTech Health LLC is the sole owner of PureTech LYT, Inc. PureTech Health plc is the sole member of PureTech Health LLC, and has the power to direct the voting and disposition of securities held by PureTech LYT, Inc. and PureTech Health LLC.