Maze Therapeutics: exchanges 2,776,007 shares for pre-funded warrants

What happened The filing says Maze Therapeutics, Inc. entered into an exchange agreement on Oct 15, 2026 with Frazier Life Sciences Public Fund, L.P. and certain affiliates, under which Maze exchanged an aggregate of 2,776,007 shares of its common stock for pre-funded warrants to purchase 2,776,007 shares of common stock, with an exercise price of $0.001 per share.

Key details

• After the exchange, Maze reports 53,931,889 shares of common stock outstanding as of Oct 16, 2026.
• The Exchange Warrants may be exercised at any time, except they cannot be exercised by the exchanging stockholder if, after exercise, that holder would beneficially own more than 9.99% of outstanding common stock, subject to certain exceptions.
• Holders of the Exchange Warrants will not have the right to vote the underlying shares except to the extent required by Delaware law.
• The filing states the Exchange Warrants are being issued without registration under the Securities Act in reliance on Section 3(a)(9).

Why it may matter This was reported as Item 1.01 (entry into a material definitive agreement) and Item 3.02 (unregistered sales of equity securities). Item 1.01 covers the exchange agreement between Maze and the Frazier funds; Item 3.02 covers the issuance of the pre-funded warrants and the related unregistered sale exemption.

The filing does not explain why the insider traded or why the company acted.