LTGO

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Key Facts

• Filing date: August 6, 2026; period of report: August 6, 2026.
• James B. Tananbaum (Foresite Capital) reports beneficial ownership of 7,884,247 shares of common stock (on an as-converted basis) via Series A-2 and Series B convertible preferred stock and a convertible promissory note held through Foresite funds.
• Beth Seidenberg (Westlake BioPartners) reports beneficial ownership of 11,065,513 shares of common stock (on an as-converted basis) via Series Seed, Series A, Series A-2, and Series B convertible preferred stock and a convertible promissory note held through Westlake funds.
• All preferred stock automatically converts to common stock 1:1 upon the closing of the issuer's initial public offering without further consideration.
• The convertible promissory notes mature June 17, 2027 and will also convert automatically into common stock at the IPO price upon closing of the IPO.
• Each reporting person disclaims beneficial ownership except to the extent of their pecuniary interest; shares are held by affiliated investment funds.

Financial Impact

Insiders collectively report ownership of approximately 18.9 million shares on an as-converted basis, representing a significant pre-IPO equity position. No transaction prices disclosed; these are initial beneficial ownership statements required by Section 16 upon becoming a 10% holder.

Risk Factors

• Any delay or cancellation of the IPO could reset the conversion mechanics and alter the economic exposure.
• Venture-backer overhang from the large position could weigh on post-IPO secondary supply if lock-up periods are short.
• The convertible notes will convert at the IPO price, injecting additional shares into the float immediately at listing.

Investment Themes

Documents Analyzed

This report is based on 8 SEC documents filed with EDGAR.

US Market Status