Innoviva Amends Stake in Armata Pharmaceuticals

TL;DR

Innoviva just updated its stake in Armata Pharma - watch this space.

AI Summary

Innoviva, Inc. has filed an SC 13D/A amendment on November 14, 2024, related to Armata Pharmaceuticals, Inc. The filing indicates a change in beneficial ownership, with Innoviva, Inc. now holding a significant stake in Armata Pharmaceuticals. Specific details on the exact percentage or number of shares acquired in this amendment are not immediately clear from the provided text, but it signifies a strategic move by Innoviva.

Why It Matters

This filing signals a potential shift in control or influence over Armata Pharmaceuticals, which could impact its strategic direction and future performance.

Risk Assessment

Risk Level: medium — Changes in beneficial ownership filings can indicate significant strategic shifts or potential takeovers, carrying inherent investment risks.

Key Players & Entities

• Innoviva, Inc. (company) — Filing entity and potential acquirer/major shareholder
• Armata Pharmaceuticals, Inc. (company) — Subject company
• 20241114 (date) — Filing date

FAQ

Key Financial Figures

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

Filing Documents

• ef20038691_sc13da.htm (SC 13D/A) — 79KB
• ef20038691_ex99-1.htm (EX-99.1) — 30KB
• ef20038691_ex99-2.htm (EX-99.2) — 30KB
• 0001140361-24-046918.txt ( ) — 142KB

in Schedule 13D is hereby supplemented as follows

Item 4 in Schedule 13D is hereby supplemented as follows: On November 12, 2024, the Issuer and Innoviva Sub entered into an amendment to the credit and security agreement, dated as of July 10, 2023, by and among the Issuer, Innoviva Sub and the other parties thereto (as amended, the "July 2023 Credit Agreement" and such amendment, the "Second Amendment to July 2023 Credit Agreement"), which Second Amendment to the July 2023 Credit Agreement extended the maturity date of the July 2023 Credit Agreement to January 10, 2026. On this same date, the Issuer and Innoviva Sub entered into an amendment to the secured convertible credit and security agreement, dated January 10, 2023, by and among the Issuer, Innoviva Sub and the other parties thereto (as amended, the "Convertible Credit Agreement" and such amendment, the "Third Amendment to Convertible Credit Agreement"), which Third Amendment to the Convertible Credit Agreement extended the maturity date of the Convertible Credit Agreement to January 10, 2026. On the date of this Amendment No. 11, the Reporting Persons collectively own 25,076,769 shares of Common Stock of the Issuer, warrants to acquire an additional 19,364,647 shares of Common Stock of the Issuer, and the right to acquire an additional 19,736,843 shares of Common Stock of the Issuer upon conversion of the convertible loan (excluding any accrued interest). Item 5. Interest in Securities of the Issuer

in Schedule 13D is hereby supplemented as follows

Item 5 in Schedule 13D is hereby supplemented as follows: As of the date of this filing of Amendment No. 11, the Reporting Persons collectively may be deemed to have beneficial ownership of 64,178,259 shares of Common Stock, representing approximately 85.2% of the outstanding shares of Common Stock of the Issuer as of the date of this Amendment No. 11 to Schedule 13D, based on 36,183,067 shares of Common Stock outstanding as of November 13, 2024, as set forth on the Issuer's Quarterly Report on Form 10-Q, plus 19,736,843 shares of Common Stock issuable upon the conversion of a certain convertible loan held by the Reporting Persons (excluding any accrued interest) and shares of Common Stock issuable upon exercise of the warrants to purchase Common Stock beneficially owned by the Reporting Persons. Except as set forth in this Schedule 13D (as amended), the Reporting Persons did not acquire or sell any shares of Common Stock or other securities of the Issuer during the last 60 days. Item 6. Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer

in Schedule 13D is hereby supplemented as follows

Item 6 in Schedule 13D is hereby supplemented as follows: On November 12, 2024, the Issuer and Innoviva Sub entered into the Second Amendment to July 2023 Credit Agreement and the Third Amendment to Convertible Credit Agreement, pursuant to which the maturity dates of the July 2023 Credit Agreement and of the Convertible Credit Agreement, respectively, were extended to January 10, 2026. 4 The foregoing descriptions of the terms of the Second Amendment to July 2023 Credit Agreement and of the Third Amendment to Convertible Credit Agreement do not purport to be complete and are qualified in their entirety by the full texts of such agreements, copies of which are attached hereto as Exhibits 99.1 and 99.2, respectively. Item 7. Materials to be Filed as Exhibits Exhibit 99.1 Second Amendment to Credit and Security Agreement, dated as of November 12, 2024, by and among the Issuer, Innoviva Sub and the other parties thereto. Exhibit 99.2 Third Amendment to Secured Convertible Credit and Security Agreement, dated as of November 12, 2024, by and among the Issuer, Innoviva Sub and the other parties thereto. 5 SIGNATURE 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. Dated: November 14, 2024 INNOVIVA, INC. By: /s/ Pavel Raifeld Name: Pavel Raifeld Title: Chief Executive Officer INNOVIVA STRATEGIC OPPORTUNITIES LLC BY INNOVIVA, INC. (ITS MANAGING MEMBER) By: /s/ Pavel Raifeld Name: Pavel Raifeld Title: Chief Executive Officer [Signature Page]

View Full Filing

View this SC 13D/A filing on SEC EDGAR