GPG Healthcare Opportunities Fund, LLC 4
4 · Mobia Medical, Inc. · Filed Jun 29, 2026
Research Summary
AI-generated summary of this filing
Mobia Medical (MOBI) 10% Owner Converts Derivative Securities to Shares
What Happened
- Green Park & Golf Ventures II, LLC (a 10% holder/manager for several affiliated GPG entities) reported multiple conversions of derivative securities into Mobia Medical (MOBI) common stock on 2026-05-11. The Form 4 lists 14 separate "Acquired (Conversion)" line items totaling 874,370 shares and 14 separate "Disposed (Conversion)" line items totaling 3,486,915 shares (all conversions; prices reported as N/A).
- Footnotes say these conversions include Series D, E‑1, E‑2 and F preferred shares that converted into common stock immediately prior to the company's IPO (F1), and convertible notes that automatically converted into common stock at the IPO under a defined conversion formula (F4). No cash prices or market-sale proceeds are reported on this filing.
Key Details
- Transaction date: May 11, 2026; Form filed: June 29, 2026 (appears late vs. the usual 2-business‑day filing requirement).
- Reported on this Form 4: 874,370 shares "Acquired" by conversion and 3,486,915 shares "Disposed" (conversion of derivative securities) — all marked as conversions/derivative transactions; per‑share prices shown as N/A.
- Shares owned after the transactions: not stated on this single filing; the disclosure is split across five Forms 4 that together report holdings for multiple related GPG entities and managers.
- Notable footnotes: F1–F4 describe automatic/pre‑IPO conversion of preferred stock and convertible notes; F9 explains GPG Ventures II is managing member of multiple entities and three managers (Clay M. Heighten, MD; Carl D. Soderstrom; Gilbert G. Garcia II) share voting/dispositive power and may be deemed beneficial owners.
- Filing timeliness: late filing (transaction May 11; Form filed June 29).
Context
- These entries reflect institutional conversions tied to the issuer's IPO (preferred shares and convertible notes converting into common stock). Conversions are corporate-capitalization events rather than open‑market buys or sales by an executive, so they do not directly signal manager trading sentiment.
- Because the disclosure covers many related entities and reporting persons (this is the first of five linked Forms 4), retail investors should view the report as part of a larger, aggregated conversion/ownership disclosure rather than a single insider trade.
Insider Transaction Report
Form 4
Green Park & Golf Ventures II, LLC
10% Owner
Transactions
- Conversion
Common Stock
[F1][F2][F9]2026-05-11+11,139→ 11,139 total(indirect: See Footnote) - Conversion
Common Stock
[F1][F3][F9]2026-05-11+29,704→ 29,704 total(indirect: See Footnote) - Conversion
Common Stock
[F1][F3][F9]2026-05-11+21,819→ 51,523 total(indirect: See Footnote) - Conversion
Common Stock
[F4][F3][F9]2026-05-11+10,000→ 61,523 total(indirect: See Footnote) - Conversion
Common Stock
[F1][F5][F9]2026-05-11+22,278→ 22,278 total(indirect: See Footnote) - Conversion
Common Stock
[F1][F5][F9]2026-05-11+10,909→ 33,187 total(indirect: See Footnote) - Conversion
Common Stock
[F4][F5][F9]2026-05-11+8,500→ 41,687 total(indirect: See Footnote) - Conversion
Common Stock
[F1][F6][F9]2026-05-11+141,054→ 141,054 total(indirect: See Footnote) - Conversion
Common Stock
[F1][F7][F9]2026-05-11+96,540→ 96,540 total(indirect: See Footnote) - Conversion
Common Stock
[F1][F7][F9]2026-05-11+112,843→ 209,383 total(indirect: See Footnote) - Conversion
Common Stock
[F1][F7][F9]2026-05-11+108,005→ 317,388 total(indirect: See Footnote) - Conversion
Common Stock
[F4][F7][F9]2026-05-11+33,333→ 350,721 total(indirect: See Footnote) - Conversion
Common Stock
[F1][F8][F9]2026-05-11+68,044→ 68,044 total(indirect: See Footnote) - Conversion
Common Stock
[F1][F8][F9]2026-05-11+200,202→ 268,246 total(indirect: See Footnote) - Conversion
Series E-1 Preferred Stock
[F1][F2][F9]2026-05-11−38,798→ 0 total(indirect: See Footnote)→ Common Stock (11,139 underlying) - Conversion
Series E-1 Preferred Stock
[F1][F3][F9]2026-05-11−103,461→ 0 total(indirect: See Footnote)→ Common Stock (29,704 underlying) - Conversion
Series F Preferred Stock
[F1][F3][F9]2026-05-11−75,996→ 0 total(indirect: See Footnote)→ Common Stock (21,819 underlying) - Conversion
Convertible Notes
[F4][F3][F9]2026-05-11−120,000→ 0 total(indirect: See Footnote)→ Common Stock (10,000 underlying) - Conversion
Series E-1 Preferred Stock
[F1][F5][F9]2026-05-11−77,596→ 0 total(indirect: See Footnote)→ Common Stock (22,278 underlying) - Conversion
Series F Preferred Stock
[F1][F5][F9]2026-05-11−37,998→ 0 total(indirect: See Footnote)→ Common Stock (10,909 underlying) - Conversion
Convertible Notes
[F4][F5][F9]2026-05-11−102,000→ 0 total(indirect: See Footnote)→ Common Stock (8,500 underlying) - Conversion
Series E-2 Preferred Stock
[F1][F6][F9]2026-05-11−491,294→ 0 total(indirect: See Footnote)→ Common Stock (141,054 underlying) - Conversion
Series E-1 Preferred Stock
[F1][F7][F9]2026-05-11−336,251→ 0 total(indirect: See Footnote)→ Common Stock (96,540 underlying) - Conversion
Series E-2 Preferred Stock
[F1][F7][F9]2026-05-11−393,034→ 0 total(indirect: See Footnote)→ Common Stock (112,843 underlying) - Conversion
Series F Preferred Stock
[F1][F7][F9]2026-05-11−376,182→ 0 total(indirect: See Footnote)→ Common Stock (108,005 underlying) - Conversion
Convertible Notes
[F4][F7][F9]2026-05-11−400,000→ 0 total(indirect: See Footnote)→ Common Stock (33,333 underlying) - Conversion
Series D Preferred Stock
[F1][F8][F9]2026-05-11−237,000→ 0 total(indirect: See Footnote)→ Common Stock (68,044 underlying) - Conversion
Series E-1 Preferred Stock
[F1][F8][F9]2026-05-11−697,305→ 0 total(indirect: See Footnote)→ Common Stock (200,202 underlying)
Footnotes (9)
- [F1]Each share of Series D Preferred Stock, Series F Preferred Stock, Series E-1 Preferred Stock and Series E-2 Preferred Stock converted into Common Stock immediately prior to the completion of the Issuer's initial public offering (the "Offering") pursuant to its terms.
- [F2]The securities are held by GPG BFH, LLC ("BFH").
- [F3]The securities are held by GPG Charles & Potomac, LLC ("C&P").
- [F4]The Convertible Notes automatically converted into Common Stock immediately prior to the closing of the Offering. The conversion price is the lower of (a) 80% of the Offering price per share and (b) the valuation of the Issuer immediately prior to the closing of the Offering divided by the number of fully diluted shares of capital stock (on an as-converted basis) outstanding immediately prior to Offering, excluding the Convertible Notes.
- [F5]The securities are held by GPG Dais, LLC ("Dais").
- [F6]The securities are held by GPG GR, LLC ("GR").
- [F7]The securities are held by GPG Healthcare Opportunities Fund II, LLC ("HOF II").
- [F8]The securities are held by GPG Healthcare Opportunities Fund, LLC ("HOF").
- [F9]Green Park & Golf Ventures II, LLC ("GPG Ventures II") is the managing member of each of BFH, C&P, Dais, GR, HOF, and HOF II. Clay M. Heighten, MD, Carl D. Soderstrom and Gilbert G. Garcia II are managers of GPG Ventures II and share voting and dispositive power with respect to the shares held by each of BFH, C&P, Dais, GR, HOF, and HOF II, and as a result may be deemed to beneficially own such securities.