Vensana Capital Updates Passive Stake in CVRx, Inc.

TL;DR

**Vensana Capital is still holding CVRx stock, no major changes reported.**

AI Summary

Vensana Capital I GP, LLC, along with its group members Kirk Nielsen and Peter Justin Klein, filed an amended SC 13G/A on February 6, 2024, indicating their ownership of CVRx, Inc. common stock as of December 31, 2023. This filing updates their previous disclosure, confirming their continued significant, but passive, stake in CVRx, Inc. For investors, this matters because Vensana Capital is a venture capital firm specializing in healthcare, and their sustained investment suggests confidence in CVRx's long-term prospects, a medical device company. However, the filing itself doesn't reveal any new buying or selling activity, only an update to their existing position.

Why It Matters

This filing confirms a prominent healthcare venture capital firm, Vensana Capital, maintains a significant, passive investment in CVRx, Inc., signaling their continued belief in the medical device company's value without seeking control.

Risk Assessment

Risk Level: low — This is an amendment to a passive ownership filing, indicating no immediate change in control or significant new investment/divestment activity that would introduce new risk.

Analyst Insight

Investors should note that a specialized healthcare VC firm continues to hold a passive stake in CVRx, Inc., which could be seen as a vote of confidence, but this filing itself doesn't signal new buying or selling, so no immediate action is warranted based solely on this update.

Key Numbers

• 126638105 — CUSIP Number (identifies CVRx, Inc. common stock)
• December 31, 2023 — Date of Event (the date as of which the ownership information is reported)
• February 6, 2024 — Filing Date (the date the SC 13G/A amendment was filed)

Key Players & Entities

• Vensana Capital I GP, LLC (company) — reporting person and investment firm
• CVRx, Inc. (company) — subject company, medical device manufacturer
• Kirk Nielsen (person) — group member of Vensana Capital
• Peter Justin Klein (person) — group member of Vensana Capital
• Vensana Capital I, L.P. (company) — group member of Vensana Capital
• $0.01 (dollar_amount) — par value per share of CVRx, Inc. common stock

Forward-Looking Statements

• Vensana Capital will maintain a passive investment in CVRx, Inc. for the foreseeable future. (Vensana Capital I GP, LLC) — high confidence, target: 2025-12-31
• CVRx, Inc. will continue to operate independently without an activist push from Vensana Capital. (CVRx, Inc.) — high confidence, target: 2025-12-31

FAQ

Key Financial Figures

• $0.01 — INC. (Name of Issuer) Common Stock, $0.01 par value per share (Title of Class o

Filing Documents

• d761531dsc13ga.htm (SC 13G/A) — 72KB
• 0001193125-24-025578.txt ( ) — 74KB

From the Filing

SC 13G/A 1 d761531dsc13ga.htm SC 13G/A SC 13G/A UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G Under the Securities Exchange Act of 1934 (Amendment No. 2)* CVRx, INC. (Name of Issuer) Common Stock, $0.01 par value per share (Title of Class of Securities) 126638105 (CUSIP Number) December 31, 2023 (Date of Event which Requires Filing of this Statement) Check the appropriate box to designate the rule pursuant to which this Schedule is filed: Rule 13d-1(b) Rule 13d-1(c) Rule 13d-1(d) * The remainder of this cover page shall be filled out for a reporting persons initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page. The information required in the remainder of this cover page shall not be deemed to be filed for the purpose of Section 18 of the Securities Exchange Act of 1934 (Act) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). CUSIP No. 126638105 13G 1. NAMES OF REPORTING PERSONS Vensana Capital I GP, LLC 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (see instructions) (a)(b) 3. SEC USE ONLY 4. CITIZENSHIP OR PLACE OF ORGANIZATION Delaware NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH 5. SOLE VOTING POWER 0 6. SHARED VOTING POWER 1,711,355 shares of Common Stock (1) 7. SOLE DISPOSITIVE POWER 0 8. SHARED DISPOSITIVE POWER 1,711,355 shares of Common Stock (1) 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,711,355 shares of Common Stock (1) 10. CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (see instructions) 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 8.2% (2) 12. TYPE OF REPORTING PERSON (see instructions) OO (1) All such shares are held of record by Vensana I (as defined in Item 2(a) of the Original Schedule 13G). Vensana GP I (as defined in Item 2(a) of the Original Schedule 13G) is the general partner of Vensana I and may be deemed to have voting, investment and dispositive power with respect to these securities. Kirk Nielsen and Peter Justin Klein are the managing directors of Vensana GP I and may each be deemed to share voting, investment and dispositive power with respect to these securities. (2) Based on 20,815,635 shares of Common Stock outstanding as of October 24, 2023, as reported by the Issuer in its Form 10-Q for the quarter ended September 30, 2023, filed with the Securities and Exchange Commission (the Commission) on October 31, 2023 (the Form 10-Q). CUSIP No. 126638105 13G 1. NAMES OF REPORTING PERSONS Vensana Capital I, L.P. 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (see instructions) (a)(b) 3. SEC USE ONLY 4. CITIZENSHIP OR PLACE OF ORGANIZATION Delaware NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH 5. SOLE VOTING POWER 0 6. SHARED VOTING POWER 1,711,355 shares of Common Stock (1) 7. SOLE DISPOSITIVE POWER 0 8. SHARED DISPOSITIVE POWER 1,711,355 shares of Common Stock (1) 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,711,355 shares of Common Stock (1) 10. CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (see instructions) 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 8.2% (2) 12. TYPE OF REPORTING PERSON (see instructions) PN (1) All such shares are held of record by Vensana I. Vensana GP I is the general partner of Vensana I and may be deemed to have voting, investment and dispositive power with respect to these securities. Kirk Nielsen and Peter Justin Klein are the managing directors of Vensana GP I and may each be deemed to share voting, investment and dispositive power with respect to these securities. (2) Based on 20,815,635 shares of Common Stock outstanding as of October 24, 2023, as reported by the Issuer in the Form 10-Q. CUSIP No. 126638105 13G 1. NAMES OF REPORTING PERSONS Kirk Nielsen 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (see instructions) (a)(b) 3. SEC USE ONLY 4. CITIZENSHIP OR PLACE OF ORGANIZATION United States of America NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH 5. SOLE VOTING POWER 38,367 shares of Common Stock (1) 6. SHARED VOTING POWER 1,711,355 shares of Common Stock (2) 7. SOLE DISPOSITIVE POWER 38,367 shares of Common Stock (1) 8. SHARED DISPOSITIVE POWER 1,711,355 shares of Common Stock (2) 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,749,722 shares of Common Stock (1) (2) 10. CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (see instructions) 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 8.4% (3) 12. TYPE OF REPORTING PERSON (see instructions) IN (

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