Invus L.P. Amends Stake in Lexicon Pharmaceuticals

TL;DR

Invus L.P. just updated their Lexicon Pharma stake. Watch this space.

AI Summary

On March 13, 2024, Invus, L.P. filed an amendment to its Schedule 13D, reporting a change in beneficial ownership of Lexicon Pharmaceuticals, Inc. The filing indicates a shift in holdings, though specific new dollar amounts or exact percentages are not detailed in this excerpt. The filing involves several related entities under the Artal Group and Invus umbrella.

Why It Matters

This amendment signals a potential shift in significant shareholder positions, which could influence Lexicon Pharmaceuticals' stock performance and strategic direction.

Risk Assessment

Risk Level: medium — Changes in beneficial ownership by significant holders can indicate strategic shifts or potential market reactions, impacting the company's stock.

Key Players & Entities

• Invus, L.P. (company) — Filing entity
• Lexicon Pharmaceuticals, Inc. (company) — Subject company
• ARTAL GROUP S.A. (company) — Related group member
• MR. AMAURY WITTOUCK (person) — Group member
• MR. RAYMOND DEBBANE (person) — Group member

FAQ

Key Financial Figures

• $0.001 — me of Issuer) Common Stock, par value $0.001 per share (Title of Class of Securiti
• $124,875,037 — suer for an aggregate purchase price of $124,875,037 representing a purchase price of $108.5
• $108.50 — 75,037 representing a purchase price of $108.50 per share. Artal International S.C.A. u

Filing Documents

• d759789dsc13da.htm (SC 13D/A) — 225KB
• d759789dex9927.htm (EX-99.27) — 30KB
• 0001193125-24-067142.txt ( ) — 258KB

of the Statement is hereby amended and restated in its entirety as follows

Item 2 of the Statement is hereby amended and restated in its entirety as follows: This statement is being filed jointly by Invus, L.P., a Bermuda limited partnership, Invus Advisors, L.L.C., a Delaware limited liability company, Invus Public Equities, L.P., a Bermuda limited partnership, Invus Public Equities Advisors, LLC, a Delaware limited liability company, Invus US Partners LLC, a Delaware limited liability company, Ulys, L.L.C., a Delaware limited liability company, Mr. Raymond Debbane, a citizen of Panama, Artal International S.C.A., a Luxembourg limited partnership, Artal International Management S.A., a Luxembourg société anonyme, Artal Group S.A., a Luxembourg société anonyme, Westend S.A., a Luxembourg société anonyme, Stichting Administratiekantoor Westend, a Netherlands foundation (the Stichting), and Mr. Amaury Wittouck, a citizen of Belgium (collectively, the Invus Parties). The address of the principal place of business and principal office of Invus, L.P., Invus Public Equities, L.P., Invus US Partners LLC, Invus Advisors, L.L.C., Invus Public Equities Advisors, LLC and Ulys, L.L.C. is c/o The Invus Group, LLC, 750 Lexington Avenue, 30th Floor, New York, NY 10022. The business address for Mr. Debbane is c/o The Invus Group, LLC, 750 Lexington Avenue, 30th Floor, New York, NY 10022. The address of the principal place of business and principal office of Artal International S.C.A., Artal International Management S.A., Artal Group S.A., Westend S.A. and Mr. Amaury Wittouck is 44, Rue de la Vallée, L-2661, Luxembourg, Luxembourg. The address of the principal place of business and principal office of the Stichting is Claude Debussylaan, 46, 1082 MD Amsterdam, The Netherlands. Invus, L.P., Invus Public Equities, L.P. and Invus US Partners LLC, which are controlled by Invus Advisors, L.L.C., Invus Public Equities Advisors, LLC and Ulys, L.L.C., respectively, are principally engaged in the business of in

of the Statement is hereby amended and supplemented to include the following

Item 4 of the Statement is hereby amended and supplemented to include the following: 16 The information set forth in Items 3 and 6 of the Statement is incorporated herein by reference. On March 11, 2024, the Issuer entered into a Preferred Stock Purchase Agreement (the Purchase Agreement) with certain accredited investors (the Purchasers). Pursuant to the Purchase Agreement, the Issuer agreed to sell 2,304,147 shares of Preferred Stock at a price per share of $108.50 in a private placement (the Private Placement). Each share of Preferred Stock will automatically convert into 50 shares (subject to adjustments) of Issuer Common Stock immediately following the satisfaction of all of the following conditions: (i) the approval of the Sixth Amended and Restated Certificate of Incorporation of the Issuer (the New Charter) by the shareholders of the Issuer at the 2024 annual meeting of stockholders (the Annual Meeting); (ii) the adoption of the New Charter by the Issuers board of directors; and (iii) the filing and acceptance of the New Charter with and by the Secretary of State of the State of Delaware. The holders of the Preferred Stock are entitled to vote on an as-converted basis on all matters and not as a separate class vote, except as required by Delaware law. The closing of the Private Placement occurred on March 13, 2024. The Purchase Agreement also contains customary registration rights whereby the Issuer has agreed to file a registration statement with the U.S. Securities and Exchange Commission (the SEC), concurrently with or within 10 business days after filing the preliminary proxy statement for the Annual Meeting, thereby registering the resale of the shares of Common Stock issuable upon the conversion of the shares of Preferred Stock issued in the Private Placement. Artal International S.C.A., one of the Purchasers under the Purchase Agreement, elected to participate in the Private Placement on the same terms as each other Purchaser pursuant to it

(a), Item 5(b) and Item 5(c) of the Statement is each hereby amended and restated in its entirety as follows

Item 5(a), Item 5(b) and Item 5(c) of the Statement is each hereby amended and restated in its entirety as follows: The information contained in rows 7, 8, 9, 10, 11 and 13 on each of the cover pages of this Schedule 13D and the information set forth or incorporated in Items 2, 3 and 6 is incorporated by reference in its entirety into this Item 5. (a)-(b) Invus Public Equities, L.P. is the record and beneficial owner of 3,516,214 shares of Issuer Common Stock, representing approximately 1.4% of the outstanding shares of Issuer Common Stock. Invus Public Equities Advisors, LLC, as the general partner of Invus Public Equities, L.P., controls Invus Public Equities, L.P. and, accordingly, may be deemed to beneficially own the shares of Issuer Common Stock held by Invus Public Equities, L.P. The Geneva branch of Artal International S.C.A., as the managing member of Invus Public Equities Advisors, LLC, controls Invus Public Equities Advisors, LLC and, accordingly, may be deemed to beneficially own the shares of Issuer Common Stock that Invus Public Equities Advisors, LLC may be deemed to beneficially own. Each of Invus Public Equities Advisors, LLC and the Geneva branch of Artal International S.C.A. disclaims such beneficial ownership. Invus, L.P. is the record owner of 35,402,689 shares of Issuer Common Stock and the beneficial owner of 38,918,903 shares of Issuer Common Stock, representing approximately 14.4% and approximately 15.8% of the outstanding shares of Issuer Common Stock, respectively. Invus Advisors, L.L.C., as the general partner of Invus, L.P., controls Invus, L.P. and, accordingly, may be deemed to beneficially own the shares of Issuer Common Stock held by Invus, L.P. Invus Advisors, L.L.C. disclaims such beneficial ownership. 17 Artal International S.C.A. is the record owner of 78,634,381 shares of Issuer Common Stock and the beneficial owner of 117,553,284 shares of Issuer Common Stock, representing approximately 31.9% and approximately 47.7% of