Ospraie Management, LLC 4

What Happened

• Ospraie Real Assets Fund LP (reported as a 10% owner) recorded merger-related acquisitions on April 9, 2026. The Form 4 shows an acquisition of 18,206,346 shares of Ionetix common stock and three additional "derivative" acquisitions of 1,316,175; 537,752; and 3,230,558 underlying shares (all reported with transaction code J — other acquisition in connection with a merger). No cash price is reported (N/A) because these shares and derivative interests were received as merger consideration.
• Footnotes explain the consideration: F1 states the holder (in the Merger) received shares in exchange for 36,311,022 shares of the privately held Target. Additional footnotes (F4–F6) describe warrants received in the Merger (2,625,000; 1,072,500; and 6,443,076 warrants) with exercise prices of $1.40, $1.40 and $0.01, respectively; the $0.01 warrant contains a 19.9% beneficial ownership cap.

Key Details

• Transaction date: April 9, 2026. Filing date: April 16, 2026 (appears filed later than the usual two-business-day Form 4 deadline).
• Reported acquisitions: 18,206,346 shares (direct) and derivative interests reported as 1,316,175; 537,752; and 3,230,558 shares. All reported with price = N/A (merger consideration).
• Warrants described in footnotes: 2,625,000; 1,072,500; 6,443,076 — exercise prices $1.40, $1.40, and $0.01; the $0.01 warrant has a 19.9% ownership cap.
• Shares owned after the transaction: not specified in the filing.
• Ownership structure: Ospraie Management LLC is the investment manager with voting and investment power (F2); related entities and an individual (Dwight Anderson) are noted as having potential deemed beneficial ownership (F3). The reporting persons disclaim beneficial ownership except for any pecuniary interest.
• Transaction code meaning: "J" indicates an acquisition/disposition in connection with a merger or similar reorganization (not an open-market buy or sale).

Context

• This was a non-cash, merger consideration transaction (institutional/investment manager activity), not an executive open-market purchase or sale. For retail investors: such institutional acquisitions via M&A are different from a manager buying shares on the open market and reflect the deal terms rather than a direct signal of buy/sell sentiment.
• Several derivative instruments (warrants) were issued; if exercised they would convert to shares subject to exercise prices and possible ownership caps (notably the 19.9% cap on the $0.01 warrant).