Matlin Amends Clene Inc. Filing

TL;DR

Matlin updated his 13D filing for Clene Inc. (CLNN) - watch for potential ownership changes.

AI Summary

David J. Matlin has filed a fourth amended and restated Schedule 13D for Clene Inc. on October 2, 2024, related to an event on September 30, 2024. Matlin is identified as a reporting person with a specific address and phone number. The filing concerns Clene Inc.'s common stock.

Why It Matters

This filing indicates a significant update or change in beneficial ownership or control for Clene Inc. by David J. Matlin, potentially impacting the company's stock.

Risk Assessment

Risk Level: medium — Schedule 13D filings often signal significant changes in a company's ownership structure, which can lead to volatility.

Key Players & Entities

• David J. Matlin (person) — Reporting Person
• Clene Inc. (company) — Subject Company
• 0000897069-24-001916 (filing_id) — Accession Number

FAQ

Key Financial Figures

• $0.0001 — Inc. (Name of Issuer) Common Stock, $0.0001 par value (Title of Class of Securiti
• $14.9 million — the Reporting Person was approximately $14.9 million. All of the shares of Common Stock bene
• $4.82 — Common Stock with an exercise price of $4.82 per share for an aggregate of approxima
• $450,000 — share for an aggregate of approximately $450,000. Item 4. Purpose of Transaction The R

Filing Documents

• sch13da4.htm (SC 13D/A) — 40KB
• 0000897069-24-001916.txt ( ) — 42KB

Security and Issuer

Item 1. Security and Issuer This Fourth Amended and Restated Schedule 13D amends and restates the Third Amended and Restated Schedule 13D, which itself amended and restated the Second Amended and Restated Schedule 13D, which itself amended and restated the Amended and Restated Schedule 13D, which amended and restated the Original Schedule 13D, and relates to the common stock, $0.0001 par value (" Common Stock "), of Clene Inc. (the " Company "). The address of the principal executive offices of the Company is 6550 South Millrock Drive, Suite G50, Salt Lake City, Utah 84121.

Identity and Background

Item 2. Identity and Background (a) This Fourth Amended and Restated Schedule 13D is being filed by David J. Matlin (the "Reporting Person"). (b) The address of the Reporting Person is 61 Cedar Pt Lane, Sag Harbor, New York 11963. (c) The principal occupation of the Reporting Person is serving as investor for his personal assets. (d)-(e) During the last five years, the Reporting Person (i) has not been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors) and (ii) has not been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceedings was or is subject to a judgment, decree, or final order enjoining future violations of, or prohibiting or mandating activities (f) The Reporting Person is a citizen of the United States.

Source and Amount of Funds or Other Consideration

Item 3. Source and Amount of Funds or Other Consideration The total amount of funds used for the purchase of Common Stock by the Reporting Person was approximately $14.9 million. All of the shares of Common Stock beneficially owned by the Reporting Person, other than shares of Common Stock issuable upon the exercise of options, were paid for using personal funds, and the options held by the Reporting Person to purchase shares of Common Stock were granted to the Reporting Person under the Clene Inc. 2020 Stock Plan. Additional detailed information regarding the securities of the Company acquired by the Reporting Person during the past 60 days (which are included in the total figures included elsewhere herein) follows: On September 30, 2024, the Reporting Person used personal funds to purchase 92,307 shares of Common Stock and accompanying warrants to purchase 92,307 shares of Common Stock with an exercise price of $4.82 per share for an aggregate of approximately $450,000.

Purpose of Transaction

Item 4. Purpose of Transaction The Reporting Person purchased the Common Stock based on the belief that such securities, at current market prices, represented an attractive investment opportunity. Depending upon overall market conditions, other investment opportunities, and the availability of Common Stock at desirable prices, the Reporting Person may endeavor to increase his position in the Company through, among other things, the purchase of Common Stock in open market or private transactions on such terms and at such times as the Reporting Person deems advisable. The Reporting Person intends to review his investment in the Company on a continuing basis taking into consideration various factors, including the Company's business, financial condition, results of operations and prospects, general economic and industry conditions, the securities markets in general and those for shares of Common Stock and the Company, in particular, as well as other developments and other investment opportunities. Based upon such review, the Reporting Person will take such actions in the future as the Reporting Person may deem appropriate in light of the circumstances existing from time to time, which may include further acquisitions of shares of Common Stock of the Company or disposal of some or all of the shares of Common Stock of the Company owned by the Reporting Person or otherwise acquired by the Reporting Person, either in the open market or in privately negotiated transactions. Pursuant to the Reporting Person's continued service as Chairman of the Board of Directors of the Company, the Reporting Person may receive future equity awards from the Company in accordance with the applicable equity plans, as may be in effect from time to time. As Chairman of the Board of Directors of the Company, the Reporting Person is involved in the oversight and management of the Company and setting policy for the Company. The Reporting Person participates with the Board of Directors of the C

Interest in Securities of the Company

Item 5. Interest in Securities of the Company (a) The Reporting Person beneficially owns 718,196 shares of Common Stock, which represents 8.7% of the outstanding shares of Common Stock (based on a total of 8,228,304 shares of Common Stock, comprised of (i) 7,962,100 shares of the Issuer's Common Stock issued and outstanding (on an as-adjusted basis to give effect to the issuance of 725,000 shares of Common Stock in the Issuer's public offering through the Prospectus Supplement), (ii) 23,897 shares of Common Stock issuable upon the exercise of options held by David J. Matlin, which are currently exercisable or will be exercisable within 60 days of the date hereof, and (iii) 242,307 shares of Common Stock issuable upon the exercise of warrants held by David J. Matlin, which are currently exercisable.). (b) The Reporting Person has sole voting and dispositive power over 710,696 shares of Common Stock, which includes 23,897 shares of Common Stock issuable upon the exercise of options held by David J. Matlin, which are currently exercisable or will be exercisable within 60 days of the date hereof, and 242,307 shares of Common Stock issuable upon the exercise of warrants held by David J. Matlin, which are currently exercisable. The Reporting Person has shared voting and dispositive power over 7,500 shares of Common Stock that are held by the Matlin Family Trust 2020, of which the Reporting Person is the trustee. All transactions in the Company's Common Stock effected by the Reporting Person during the past 60 days are described in Item 3 above. (c) Except as set forth in this Fourth Amended and Restated Schedule 13D, the Reporting Person has not effected any other transactions in the Common Stock of the Company during the past 60 days. (d) To the best knowledge of the Reporting Person, no one other than the Reporting Person has the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the Common Stock beneficiall

Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Company

Item 6. Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Company To the knowledge of the Reporting Person, except for those matters described in this Fourth Amended and Restated Schedule 13D, there is no contract, arrangement, understanding or relationship (legal or otherwise) between the Reporting Person and any other person with respect to securities of the Company.

Material to be Filed as Exhibits

Item 7. Material to be Filed as Exhibits None. [Signatures follow on the next page.]

SIGNATURES

SIGNATURES After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Date: October 2, 2024 DAVID J. MATLIN By: /s/ David J. Matlin David J. Matlin

View Full Filing

View this SC 13D/A filing on SEC EDGAR