Sec Form 13G Filing - Aquilo Capital Management LLC filing for PALVELLA THERAPEUTICS INC. (PVLA) - 2024-02-14

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AMENDMENT NO. 6 TO SCHEDULE 13G/A

 

Reference is hereby made to the statement on Schedule 13G filed with the Securities and Exchange Commission by the Reporting Persons with respect to the Common Stock of the Issuer on October 7, 2019, Amendment No.1 thereto filed on February 14, 2020, Amendment No.2 thereto filed on April 22, 2020, Amendment No. 3 thereto filed on February 16, 2021, Amendment No. 4 thereto filed on February 14, 2022, and Amendment No. 5 thereto filed on February 14, 2023 (as so amended, the “Schedule 13G”). Terms defined in the Schedule 13G/A are used herein as so defined.

 

The following Items of the Schedule 13G are amended and restated to read in their entirety as follows:

 

 

CUSIP No. 720795103

13G/A

Page 4 of 7 Pages

Item 4.

Ownership

 

(i)

Aquilo Capital, L.P.

 

(a)

Amount beneficially owned: 1,126,761 (See Note 4)

 

(b)

Percent of class: 1.1% (See Note 5)

 

(c)

Number of shares as to which the person has:

 

(i)

Sole power to vote or to direct the vote: 0

 

(ii)

Shared power to vote or to direct the vote: 1,126,761 (See Note 4)

 

(iii)

Sole power to dispose or to direct the disposition of: 0

 

(iv)

Shared power to dispose or to direct the disposition of: 1,126,761 (See Note 4)

 

(ii)

Aquilo Capital Management, LLC

 

(a)

Amount beneficially owned: 1,126,761 (See Note 4)

 

(b)

Percent of class: 1.1% (See Note 5)

 

(c)

Number of shares as to which the person has:

 

(i)

Sole power to vote or to direct the vote: 0

 

(ii)

Shared power to vote or to direct the vote: 1,126,761 (See Note 4)

 

(iii)

Sole power to dispose or to direct the disposition of: 0

 

(iv)

Shared power to dispose or to direct the disposition of: 1,126,761 (See Note 4)

 

(iii)

Marc Schneidman

 

(a)

Amount beneficially owned: 1,126,761 (See Note 4)

 

(b)

Percent of class: 1.1% (See Note 5)

 

(c)

Number of shares as to which the person has:

 

(i)

Sole power to vote or to direct the vote: 0

 

(ii)

Shared power to vote or to direct the vote: 1,126,761 (See Note 4)

 

(iii)

Sole power to dispose or to direct the disposition of: 0

 

(iv)

Shared power to dispose or to direct the disposition of: 1,126,761 (See Note 4)

 

 

 

Note 4:

 

Aquilo Capital Management, LLC is an investment adviser that is registered under the Investment Advisers Act of 1940. Aquilo Capital Management, LLC, which serves as the general partner and investment manager to investment funds, including but not limited to, Aquilo Capital, L.P., (collec tively the "Funds"), may be deemed to be the beneficial owner of all shares of Common Stock held by the Funds. Mr. Schneidman, as Managing Member of Aquilo Capital Management, LLC, with the power to exercise investment and voting discretion, may be deemed to be the beneficial owner of all shares of Common Stock held by the Funds. Pursuant to Rule 13d-4 under the Securities Exchange Act of 1934, as amended, each of the Funds expressly disclaims beneficial ownership over any of the securities reported in this statement, and the filing of this statement shall not be construed as an admission that any of the Funds are the beneficial owner of any of the securities reported herein.

 

Note 5:

 

This amount comprises beneficial ownership of 1,126,761 shares of Common Stock issuable upon exercise of a warrant held by Aquilo Capital, L.P. All such shares of Common Stock in the aggregate represent beneficial ownership of approximately 1.1% of the Common Stock, based on (i) 98,851,927 shares of Common Stock outstanding as of November 9, 2023, represented on the 10-Q filed with the SEC on November 14, 2023 plus (ii) 1,126,761 shares of Common Stock issuable upon exercise of the Warrant.

 

 

Item 5.	Ownership of Five Percent or Less of a Class:   If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than 5 percent of the class of securities, check the following [ X ].
Item 6.	Ownership of More Than Five Percent on Behalf of Another Person:
	Not Applicable.
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company:
	See Note 5 above
Item 8.	Identification and Classification of Members of the Group:
	Not Applicable
Item 9.	Notice of Dissolution of Group:
	Not Applicable

Item 10.

Certifications:

 

Each of the Reporting Persons makes the following certification:

 

By signing below each Reporting Person certifies that, to the best of its knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect. After reasonable inquiry and to the best of my knowledge and belief, the undersigned certify that the information set forth in this statement is true, complete and correct.

 

 

Date: February 14, 2024

 

 

AQUILO CAPITAL, L.P.

By: Aquilo Capital Management, LLC, its General Partner

By: /s/ Marc Schneidman

Name: Marc Schneidman

Title: Managing Member

 

 

AQUILO CAPITAL MANAGEMENT, LLC

By: /s/ Marc Schneidman

Name: Marc Schneidman

Title: Managing Member

 

 

MARC SCHNEIDMAN

By: /s/ Marc Schneidman

 

 

 

EXHIBIT A

 

Joint Filing Agreement Pursuant to Rule 13d-1

 

This agreement is made pursuant to Rule 13d-l(k)(1) under the Securities Exchange Act of 1934, as amended (the "Act") by and among the parties listed below, each referenced to herein as a "Joint Filer". The Joint Filers agree that a statement of beneficial ownership as required by Sections 13(g) or 13(d) of the Act and the rules thereunder may be filed on each of his, her or its behalf on Schedule 13G or Schedule 13D, as appropriate, and that said joint filing may thereafter be amended by further joint filings. The Joint Filers state that they each satisfy the requirements for making a joint filing under Rule 13d-1(k).

 

 

Dated:  February 14, 2024
AQUILO CAPITAL, L.P. By: Aquilo Capital Management, LLC, its General Partner By: /s/ Marc Schneidman Name: Marc Schneidman Title: Managing Member     AQUILO CAPITAL MANAGEMENT, LLC By: /s/ Marc Schneidman Name: Marc Schneidman Title: Managing Member     MARC SCHNEIDMAN By: /s/ Marc Schneidman