Velan Capital Discloses 63,492 Shares in Edesa Biotech

TL;DR

**Velan Capital still holds 63,492 shares of Edesa Biotech as of Dec 31, 2023.**

AI Summary

Velan Capital Master Fund LP, a Cayman Islands-based investment fund, filed an amended SC 13G/A on January 29, 2024, disclosing its ownership in Edesa Biotech, Inc. As of December 31, 2023, Velan Capital reported shared voting and dispositive power over 63,492 common shares of Edesa Biotech. This filing indicates a significant, though not controlling, stake by an institutional investor, which could signal confidence or a strategic interest in Edesa Biotech's future, potentially influencing other investors.

Why It Matters

This filing shows an institutional investor, Velan Capital, holds a notable stake in Edesa Biotech, which can be seen as a vote of confidence or a strategic position, potentially influencing market perception and other investors' decisions.

Risk Assessment

Risk Level: low — This filing is an update on an existing stake and does not indicate any immediate high-risk events like a major sell-off or hostile takeover attempt.

Analyst Insight

Investors should note that a significant institutional holder like Velan Capital maintains its position, suggesting continued interest, but this filing alone doesn't indicate any immediate catalysts for Edesa Biotech's stock price.

Key Numbers

• 63,492 — Common Shares (Number of shares Velan Capital Master Fund LP has shared voting and dispositive power over in Edesa Biotech, Inc. as of December 31, 2023.)
• December 31, 2023 — Date of Event (The date as of which the beneficial ownership information in the filing is reported.)
• 27966L306 — CUSIP Number (Unique identification number for Edesa Biotech, Inc.'s Common Shares.)

Key Players & Entities

• Velan Capital Master Fund LP (company) — reporting person and beneficial owner of shares
• Edesa Biotech, Inc. (company) — the issuer of the securities
• Cayman Islands (company) — place of organization for Velan Capital Master Fund LP
• Velan Capital Investment Management LP (company) — the entity that filed the SC 13G/A

Forward-Looking Statements

• Velan Capital will maintain its current stake in Edesa Biotech for the near future. (Velan Capital Master Fund LP) — medium confidence, target: Q2 2024

FAQ

Key Financial Figures

• $10.50 — on Share”) at a purchase price of $10.50 per Common Share 2023 (reflecting the o

Filing Documents

• d10938405_13g-a.htm (SC 13G/A) — 105KB
• 0000919574-24-000563.txt ( ) — 107KB

From the Filing

SC 13G/A 1 d10938405_13g-a.htm UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 SCHEDULE 13G Under the Securities Exchange Act of 1934 (Amendment No. 1)* Edesa Biotech, Inc. (Name of Issuer) Common Shares, no par value (Title of Class of Securities) 27966L306 (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) [X] Rule 13d-1(c) [ ] Rule 13d-1(d) _________________ *The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the 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. 27966L306 1. NAME OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Velan Capital Master Fund LP (1) 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) (a) [ ] (b) [X] 3. SEC USE ONLY 4. CITIZENSHIP OR PLACE OF ORGANIZATION Cayman Islands NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH: 5. SOLE VOTING POWER 0 6. SHARED VOTING POWER 63,492 (2) 7. SOLE DISPOSITIVE POWER 0 8. SHARED DISPOSITIVE POWER 63,492 (2) 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 63,492 (2) 10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) [_] 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 1.97% (3)(4) 12. TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) PN (1) Effective February 1, 2023, Velan Capital Partners LP was reorganized from a “stand-alone” investment vehicle to a “master-feeder” structure. Following the reorganization, Velan Capital Master Fund LP makes and holds all portfolio investments. (2) Comprised of 63,492 Class A common share purchase warrants (the “Class A Warrants”), with each Class A Warrant exercisable for one common share of the Edesa Biotech, Inc. (the “Issuer”), no par value (“Common Share”) at a purchase price of $10.50 per Common Share 2023 (reflecting the one-for-seven reverse split of the Issuer’s outstanding Common Shares effected October 11, 2023). (3) Represents the quotient obtained by dividing (a) the aggregate amount beneficially owned by the Reporting Persons in Row 9 by (b) the sum of (i) 3,164,722 Common Shares issued and outstanding as of December 13, 2023, as reported in the Issuer’s Annual Report on Form 10-K filed with the Securities and Exchange Commission (the “Commission”) on December 15, 2023 (reflecting the one-for-seven reverse split of the Issuer’s outstanding Common Shares effected October 11, 2023), plus (ii) 63,492 Class A Warrants issuable upon the exercise of the Class A Warrants held by the Reporting Persons (defined below). (4) The number of Class A Warrants beneficially owned by the Reporting Persons (defined below) are treated as converted into Common Shares only for the purpose of computing the percentage (the “Exchange Act”). Such percentage ownership does not give effect to the aggregate voting power of the Class A Warrants, as the Class A Warrants are treated as converted into Common Shares for the purpose of this Schedule 13G. CUSIP No. 27966L306 1. NAME OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Velan Capital Holdings LLC 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) (a) [ ] (b) [X] 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 63,492 (1) 7. SOLE DISPOSITIVE POWER 0 8. SHARED DISPOSITIVE POWER 63,492 (1) 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 63,492 (1) 10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) [_] 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 1.97% (2)(3) 12. TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) OO (1) Comprised of 63,492 Class A Warrants, with each Class A Warrant exercisable for one Common Share at a purchase price of $10.50 per Common Share 2023 (reflecting the one-for-seven reverse split of the Issuer’s outstanding Common Shares effected October 11, 2023). (2) Represents the quotient obtained by dividing (a) the aggregate amount beneficially ow

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View this SC 13G/A filing on SEC EDGAR