Chancellor Updates Lipella Pharma 13D Filing

TL;DR

Chancellor updated their 13D on Lipella Pharma, filing date Oct 17, event date Oct 15.

AI Summary

Michael B. Chancellor, through an amendment filed on October 17, 2024, has updated their Schedule 13D filing for Lipella Pharmaceuticals Inc. The filing indicates a change in the date of the event requiring this statement to October 15, 2024. Chancellor's mailing address is listed as c/o Lipella Pharmaceuticals Inc. in Pittsburgh, PA.

Why It Matters

This amendment to a Schedule 13D filing signals a potential shift in significant ownership or control of Lipella Pharmaceuticals Inc., requiring investor attention.

Risk Assessment

Risk Level: medium — Schedule 13D filings often indicate significant stake changes, which can lead to volatility and require careful monitoring by investors.

Key Numbers

• 20241017 — Filing Date (Date the amendment was filed with the SEC)
• 20241015 — Event Date (Date of the event requiring the filing)

Key Players & Entities

• Michael B. Chancellor (person) — Filing person
• Lipella Pharmaceuticals Inc. (company) — Subject company
• David E. Danovitch, Esq. (person) — Authorized to receive notices
• Sullivan & Worcester LLP (company) — Legal counsel

FAQ

Key Financial Figures

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

Filing Documents

• g084490_sc13da.htm (SC 13D/A) — 53KB
• 0001753926-24-001712.txt ( ) — 55KB

From the Filing

SC 13D/A 1 g084490_sc13da.htm SC 13D/A UNITED SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13D Under the Securities Exchange Act of 1934 (Amendment No. 5)* LIPELLA PHARMACEUTICALS INC. (Name of Issuer) Common Stock, par value $0.0001 per share (Title of Class of Securities) 53630L100 (CUSIP Number) David E. Danovitch, Esq. Sullivan & Worcester LLP 1251 Avenue of the Americas New York, NY 10020 (212) 660-3000 (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) October 15, 2024 (Date of Event which Requires Filing of this Statement) If the filing person has previously filed a statement on Schedule 13G to report the acquisition which is the subject of this Schedule 13D, and is filing this Schedule because of §§240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box. Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See 240.13d-7(b) for other parties to whom copies are to be sent. *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 disclosures provided in a prior cover page. The information required on 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, as amended (the "Exchange Act") or otherwise subject to the liabilities of that section of the Exchange Act but shall be subject to all other provisions of the Exchange Act (however, see the Notes). CUSIP No. 53630L100 Amendment No. 5 to Schedule 13D Page 2 of 5 Pages 1 name of reporting persons Michael B. Chancellor 2 check the appropriate box if a member of a group* (a) (b) 3 sec use only 4 source of funds* PF, OO (1) 5 check if disclosure of legal proceedings is required pursuant to items 2(d) or 2(e) 6 citizenship or place of organization United number of shares beneficially owned by each reporting person with 7 sole voting power 1,677,136 (1) 8 shared voting power 0 9 sole dispositive power 1,677,136 (1) 10 shared dispositive power 0 11 aggregate amount beneficially owned by each reporting person 1,677,136 (1) 12 check box if the aggregate amount in row (11) excludes certain shares* 13 percent of class represented by amount in row (11) 16.0% (2) 14 type of reporting person* IN * SEE INSTRUCTIONS (1) Consists of (i) 877,637 shares of common stock, par value $0.0001 per share, of the issuer ("Common Stock") purchased by Dr. Michael Chancellor (the "Reporting Person") with personal funds and (ii) 799,499 shares of Common Stock that may be issued upon the exercise of stock options awarded by the issuer (the "Issuer") to the Reporting Person in his capacity as an officer and director of the Issuer, which are vested and exercisable within 60 days of the filing of this Amendment No. 5 to Statement on Schedule 13D (this "Amendment No. 5"). (2) Calculated based on 9,671,636 shares of Common Stock outstanding as of October 16, 2024, as verified with the Issuer. The 799,499 shares of Common Stock that the Reporting Person has the right to acquire within 60 days of the filing of this Amendment No. 5 are deemed to be outstanding for purposes of calculating such beneficial ownership percentage. CUSIP No. 53630L100 Amendment No. 5 to Schedule 13D Page 3 of 5 Pages This Amendment No. 5 amends and supplements the Statement on Schedule 13D initially filed by the Reporting Person with the SEC on December 29, 2022, as amended by Amendment No. 1 to such Statement on Schedule 13D filed by the Reporting Person with the SEC on June 21, 2023, as amended by Amendment No. 2 to such Statement on Schedule 13D filed by the Reporting Person with the SEC on March 6, 2024, as amended by Amendment No. 3 to such Statement on Schedule 13D filed by the Reporting Person with the SEC on March 15, 2024, and as amended by Amendment No. 4 to such Statement on Schedule 13D filed by the Reporting Person with the SEC on August 19, 2024 (collectively, the "Schedule 13D"). Capitalized terms used but not defined herein shall have the meanings attributed to them in the Schedule 13D. Except as otherwise set forth herein, this Amendment No. 5 does not modify any of the information previously reported by the Reporting Person in the Schedule 13D. The purpose of this Amendment No. 5 is to update the Reporting Person's beneficial ownership percentage in the Schedule 13D. Except as specifically amended below, all other provisions of the Schedule 13D remain in effect. Item 1. Security and Issuer. The information contained in "Item 1. Security and Issuer." of the Schedule 13D is not being amended by this Amendment No. 5. Item 2. Identity and Bac

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