Clene (CLNN) 10% Owner Ugwumba Chidozie Disposes Warrants

What Happened

• Ugwumba Chidozie, reported as a 10% owner (Managing Partner of SymBiosis II, LLC), is reporting the disposition of a total of 799,358 warrants (375,000 + 424,358) on July 17, 2026. The transactions are reported as "other disposition" (code J) of derivative securities. No consideration was paid or received, and no warrants were exercised, sold, or transferred.
• The change reflects that management of the Fund's investment portfolio was transferred to an unaffiliated third‑party manager effective July 17, 2026, and Chidozie thereby ceased to have voting or investment power (and thus beneficial ownership) over the Fund's holdings, including these warrants.

Key Details

• Transaction date: July 17, 2026. Transaction code: J (other acquisition/disposition of derivative securities). Price: N/A — no cash consideration.
• Instruments disposed: two warrant lots of 375,000 and 424,358 shares (total 799,358). Footnotes indicate these were previously deemed beneficially owned through SymBiosis II, LLC.
• Shares/warrants owned after transaction: Reporting person no longer beneficially owns the reported warrants and is no longer a >10% owner of the issuer (per the filing remarks).
• Notable footnotes: (F1/F3) beneficial ownership ceased due to fund manager change; (F2) the warrants were “currently exercisable.” The filing states explicitly that no warrants were exercised, sold, or transferred and no consideration was paid or received.
• Filing timeliness: the report does not indicate a late filing.

Context

• This is a derivative/beneficial‑ownership reporting change tied to a change in fund management, not an open‑market sale or option exercise by the individual. That means it reflects a legal shift in who controls the securities, rather than a trading decision or cash transaction by Chidozie.
• As the 10% status derived from his role with the fund, the loss of beneficial ownership removes his Section 16 reporting obligation for this issuer going forward.