Soleus Capital Discloses New Passive Stake in IMMUNIC (IMUX)

TL;DR

**Soleus Capital just bought a chunk of IMMUNIC, signaling potential upside.**

AI Summary

Soleus Private Equity Fund III, L.P. and its affiliates, including Soleus Capital Group, LLC and Guy Levy, have reported a new passive ownership stake in IMMUNIC, INC. (IMUX) as of January 8, 2024. This filing indicates that Soleus now holds a significant position in the pharmaceutical company's common stock. This matters to investors because a new institutional investor taking a substantial stake can signal confidence in the company's future prospects, potentially attracting more attention and investment to the stock.

Why It Matters

A new institutional investor, Soleus Private Equity Fund III, L.P., has taken a significant position in IMMUNIC, INC., which could be seen as a vote of confidence in the company's future.

Risk Assessment

Risk Level: low — This filing reports a passive ownership stake, which generally carries low risk as it doesn't indicate an activist intent or immediate change in company control.

Analyst Insight

A smart investor would research Soleus Private Equity Fund III, L.P.'s investment thesis and IMMUNIC, INC.'s fundamentals to understand the potential implications of this new institutional ownership.

Key Numbers

• 4525EP101 — CUSIP Number (identifies IMMUNIC, INC.'s Common Stock)
• $0.0001 — par value per share (par value of IMMUNIC, INC.'s Common Stock)

Key Players & Entities

• Soleus Private Equity Fund III, L.P. (company) — reporting person and new investor in IMMUNIC, INC.
• IMMUNIC, INC. (company) — subject company in which Soleus Private Equity Fund III, L.P. has acquired shares
• Guy Levy (person) — group member associated with Soleus Capital Group, LLC
• Soleus Capital Group, LLC (company) — group member associated with the reporting person
• January 8, 2024 (date) — date of the event requiring the filing of this statement

Forward-Looking Statements

• IMMUNIC, INC. (IMUX) stock may experience increased trading volume due to the disclosed institutional ownership. (IMMUNIC, INC.) — medium confidence, target: Q1 2024
• Other institutional investors might review IMMUNIC, INC. more closely following Soleus Capital's stake disclosure. (IMMUNIC, INC.) — medium confidence, target: Q2 2024

FAQ

Key Financial Figures

• $0.0001 — me of Issuer) Common Stock, par value $0.0001 per share (Title of Class of Securiti

Filing Documents

• ea191414-13gsoleus3_immunic.htm (SC 13G) — 145KB
• 0001213900-24-002473.txt ( ) — 146KB

From the Filing

SC 13G 1 ea191414-13gsoleus3_immunic.htm SCHEDULE 13G UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G Under the Securities Exchange Act of 1934 (Amendment No. )* IMMUNIC, INC. (Name of Issuer) Common Stock, par value $0.0001 per share (Title of Class of Securities) 4525EP101 (CUSIP Number) January 8, 2024 (Date of Event Which Requires Filing of this 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 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 ** There is no CUSIP number assigned to the Ordinary Shares. CUSIP number 589492107 has been assigned to the American Depositary Receipts (“ ADRs ”) of the Issuer, which are quoted on the Nasdaq Global Market under the symbol “MREO.” Each ADR represents 5 Ordinary Shares. CUSIP NO. 4525EP101 1 NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Soleus Private Equity Fund III, 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 4,895,105 (1) 7 SOLE DISPOSITIVE POWER 0 8 SHARED DISPOSITIVE POWER 4,895,105 (1) 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 4,895,105 (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) 5.4% (2) 12 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) PN FOOTNOTES (1) The shares reported in this row are owned directly by Soleus Private Equity Fund III, L.P. (“Soleus PE”). Soleus Private Equity GP III, LLC (“Soleus GP”) is the sole general partner of Soleus PE. Soleus GP holds voting and dispositive power over the shares held by Soleus PE. Soleus PE GP III, LLC is the sole manager of Soleus GP. Mr. Guy Levy is the sole managing member of Soleus PE GP III, LLC. Each of Mr. Guy Levy, Soleus PE GP III, LLC and Soleus GP disclaims beneficial ownership of these securities held by Soleus PE and this report shall not be deemed an admission that they are the beneficial owners of such securities for purposes of Section 13(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or for any other purpose, except to the extent of their respective pecuniary interests therein. (2) This percentage is calculated based upon 89,896,669 shares of the common stock, par value $0.0001 per share, of the Issuer (“Common Stock”), outstanding following the completion of the offering of Common Stock and pre-funded warrants contemplated by that certain Securities Purchase Agreement dated as of January 4, 2024 by and among the Issuer and the investors parties thereto (the “Offering”). 2 CUSIP NO. 4525EP101 1 NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Soleus Private Equity GP III, 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 4,895,105 (1) 7 SOLE DISPOSITIVE POWER 0 8 SHARED DISPOSITIVE POWER 4,895,105 (1) 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 4,895,105 (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) 5.4% (2) 12 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) OO FOOTNOTES (1) The shares reported in this row are owned directly by Soleus PE. Soleus GP is the sole general partner of Soleus PE. Soleus GP holds voting and dispositive power over the shares held by Soleus PE. Soleus PE GP III, LLC is the sole manager of Soleus GP. Mr. Guy Levy is the sole managing member of Soleus PE GP III, LLC. (2) This percentage is calculated based upon 89,896,669 shares of Common Stock outstanding of the Issuer after giving effect to the Offering. 3 CUSIP NO. 4525EP101 1 NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Soleus PE GP III, LLC 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) (a) (b) 3

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View this SC 13G filing on SEC EDGAR