ADARx (ADRX) 10% Owner George Simeon Buys 1.6M Shares

What Happened

• George Simeon (reported as a 10% owner) completed two types of transactions on Sept 28, 2026: open-market/private purchases and conversions of derivative/preferred securities into common stock tied to ADARx’s IPO.
• He purchased three lots totaling 1,600,000 common shares at $17.00 per share for a total of $27,200,000 (lots: 592,593; 414,814; 592,593). Separately, multiple preferred/derivative holdings were converted into common stock (see footnote on automatic conversion), with numerous derivative "disposed" line items recorded at $0 to reflect those conversions.

Key Details

• Transaction date: 2026-09-28. Purchase price: $17.00 per share.
• Purchases: 1,600,000 shares acquired for $27,200,000 total.
• Conversions: several derivative/preferred security conversions recorded (multiple acquired and disposed line items); these conversions show no cash paid/received on conversion entries.
• Footnote F1: Series B, B‑1 and C Preferred automatically converted into Common Stock on a 1-for-1.1717 reverse stock split basis upon the Issuer’s IPO closing on Sept 28, 2026 (no further consideration).
• Footnotes F2–F5: filing also includes standard disclaimers about reporting relationships with SR One-related entities (manager/disclaimer of beneficial ownership for certain fund-held securities).
• Shares owned after the transactions are not specified in the provided summary of the filing.
• Filing timeliness: filed the next day (Form 4 dated Sept 29, 2026 for transactions on Sept 28, 2026); not flagged as late in the information provided.

Context

• The derivative entries reflect automatic conversion of preferred stock into common stock at IPO (per F1) — this is not a cash exercise; the $0 “disposed” values reflect conversion accounting.
• The $27.2M of open‑market purchases are straightforward buys and are typically of higher interest to retail investors than routine conversions.
• As a 10% owner, George Simeon’s trades are material and must be reported, but this filing does not identify him as a company executive — it documents ownership-level activity rather than an executive compensation event.