GOLDENTREE ASSET MANAGEMENT LP 4

What Happened GoldenTree Asset Management (reporting via GoldenTree Asset Management LP/LLC and Steven A. Tananbaum) recorded an acquisition of 33,651 Keenova Therapeutics ordinary shares on July 31, 2025. The shares were received as part of a merger transaction (Endo, Inc. merged into a Keenova subsidiary) where Endo shares were cancelled and converted into Keenova ordinary shares and cash under the transaction agreement. No per‑share price or dollar value was disclosed in the Form 4.

Key Details

• Transaction date: July 31, 2025 (reported on Form 4 filed Feb 12, 2026 — filing was delayed by ~6.5 months).
• Transaction type/code: Other acquisition/disposition (J) — conversion via corporate action/merger.
• Shares acquired: 33,651 ordinary shares (price = N/A; consideration included both shares and cash per the transaction agreement).
• Shares reported owned as of filing: 7,979,827 total ordinary shares (7,926,212 held by funds/accounts managed by the Advisor; 53,615 held directly by Steven A. Tananbaum).
• Reporting persons: GoldenTree Asset Management LP (Advisor), GoldenTree Asset Management LLC (General Partner), and Steven A. Tananbaum — the Advisor may be deemed to have a pecuniary interest in fund holdings; the Advisor/GP and Mr. Tananbaum disclaim beneficial ownership of the shares held by the funds.
• Footnote context: F1 explains the merger conversion; F2 notes reported ownership includes securities from other previously reported purchases.

Context This was an institutional conversion tied to a corporate merger, not an open‑market purchase or executive sale. As a reported 10% owner and investment adviser, GoldenTree’s activity reflects fund holdings and structural ownership changes from the merger rather than a manager’s personal trading decision. The delayed filing should be noted by investors, as on‑time reporting is important for transparency.