Monitor for any amendments to this 13D indicating escalation of activist demands or plans for board representation. The lock-up expiration in ~April 2027 is a key liquidity event. The fund's registration rights could enable a secondary offering post-lock-up.
Price Chart
Executive Summary
SV Biotech Crossover Opportunities Fund LP filed a Schedule 13D disclosing a 7.0% stake in TRex Bio, Inc. The fund acquired its position through a combination of pre-IPO preferred stock conversion (963,524 shares) and IPO purchases (957,143 shares at $14.00/share). The filing states the investment is for investment purposes and that the fund may engage with management on capitalization, board structure, or operations, but has no present plans for any of the specific Item 4 actions.
Key Financial Metrics
Key Facts
- SV Biotech Crossover Opportunities Fund LP holds 1,920,667 shares of TRex Bio common stock, representing 7.0% of shares outstanding.
- Stake acquired via conversion of 963,524 preferred shares at IPO closing and purchase of 957,143 shares in the IPO at $14.00/share.
- The fund is subject to a 180-day lock-up agreement expiring approximately April 2027.
- The filing states no present plans for board changes, strategic review, or sale of the company.
- The fund has demand and piggyback registration rights under an Investors' Rights Agreement.
Financial Impact
7.0% stake acquired at IPO price of $14.00/share; total investment approximately $13.4 million in IPO plus prior preferred holdings.
Risk Factors
- Potential future dilution if the fund exercises registration rights for a secondary offering.
- Activist pressure could lead to management distraction or strategic changes not aligned with current business plan.
- Lock-up expiration may create selling pressure on the stock.
Documents Analyzed
This report is based on 4 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| SC 13D Filing (Primary) | 0001829126-26-011242 |
| Document: 0001829126-26-011242-index-headers.html | 0001829126-26-011242 |
| Document: 0001829126-26-011242-index.html | 0001829126-26-011242 |
| Document: 0001829126-26-011242.txt | 0001829126-26-011242 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 16, 2026 10d ago | SC 13G | $14.80 $14.44 | ▼ −2.43% | ▼ −2.77% | $13.81 (−6.69%) |
Oct 16, 2026 10d ago | SC 13D | $14.80 $14.44 | ▼ −2.43% | ▼ −2.77% | $13.81 (−6.69%) |
Oct 16, 2026 10d ago | SC 13D | $14.01 $14.80 | ▲ +5.64% | ▲ +5.22% | $13.81 (−1.43%) |
Oct 15, 2026 11d ago | Insider Cluster | $14.01 $14.80 | ▲ +5.64% | ▲ +5.22% | $13.81 (−1.43%) |
Oct 15, 2026 11d ago | SC 13G | $14.16 $14.01 | ▼ −1.06% | ▲ +0.05% | $13.81 (−2.47%) |
Oct 13, 2026 13d ago | Press Release | $13.50 $14.16 | ▲ +4.89% | ▲ +4.60% | $13.81 (+2.30%) |
Oct 9, 2026 17d ago | 424B4 | $14.03 $13.60 | ▼ −3.06% | ▼ −3.05% | $13.81 (−1.57%) |
Oct 9, 2026 17d ago | EFFECT | $14.00 $14.03 | ▲ +0.21% | ▲ +0.27% | $13.81 (−1.36%) |
Oct 8, 2026 17d ago | 3 | $14.00 $14.03 | ▲ +0.21% | ▲ +0.27% | $13.81 (−1.36%) |
Oct 8, 2026 17d ago | 3 | $14.00 $14.03 | ▲ +0.21% | ▲ +0.27% | $13.81 (−1.36%) |
US Market Status
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