Conviction
$ Value
—
Shares
335,000
Price
—
Filed
Mar 30
▶ Why this score? (5/10)
- ✓ Open market buy (+3)
- ✓ 10%+ owner (+1)
- ✓ Not a 10b5-1 plan (+1)
Insider
Name
Madryn Asset Management, LP
Title
—
CIK
0001787423
Roles
Transaction Details
Transaction Date
2026-03-26
Code
P
Table
Derivative
Ownership
Indirect
Equity Swap
No
Shares After
1,835,000
Footnotes
Pursuant to a Stock Purchase Agreement, dated March 26, 2026, by and among Madryn Health Partners, LP ("MHP"), Madryn Health Partners (Cayman Master), LP ("MHP Cayman" and together with MHP, the "Funds"), and the Issuer, the Issuer sold to the Funds an aggregate of 37,500,000 shares of common stock for an aggregate purchase price of $1,500,000. | Represents securities held directly by MHP and MHP Cayman. Madryn Asset Management, LP, as investment advisor for each of the Funds, and Madryn Health Advisors, LP, as general partner of each of the Funds, may be deemed to be beneficial owners of the shares held directly by the Funds. | Each of the Reporting Persons disclaims beneficial ownership of the securities reported herein, except to the extent of such Reporting Person's pecuniary interest therein. | Pursuant to a Securities Purchase Agreement, dated March 26, 2026, by and among the Funds and HealthQuest Partners II L.P. ("HealthQuest"), HealthQuest sold to the Funds the shares of Common Stock and Voting Convertible Preferred Stock reported herein as sold by HealthQuest to the Funds for consideration in the form of promissory notes representing an aggregate principal balance payable by the Funds to HealthQuest of $755,646.90, allocated $754,159.42 to the Voting Convertible Stock sold thereunder and $1,487.48 to the Common Stock sold thereunder. | The shares of Voting Convertible Preferred Stock are convertible into shares of Common Stock at a ratio of 0.0606 shares of Common Stock for each share of Voting Convertible Preferred Stock at the option of the holder at any time or by the Issuer under certain conditions. The Voting Convertible Preferred Stock is perpetual and therefore has no expiration date. | Pursuant to a Securities Purchase Agreement (the "EW SPA"), dated March 26, 2026, by and among EW Healthcare Partners, L.P. ("EWHP"), EW Healthcare Partners-A, L.P. ("EWHP-A" and, together with EWHP, the "EWHP Funds"), Madryn Health Partners, LP ("MHP"), Madryn Health Partners (Cayman Master), LP ("MHP Cayman" and together with MHP, the "Funds"), and the other parties thereto, the EWHP Funds sold to the Funds the shares of Senior Convertible Preferred Stock, Voting Convertible Preferred Stock and Secured Subordinated Convertible Notes reported herein as sold by the EWHP Funds to the Funds for an aggregate sale price of $2,600,000. | The shares of Senior Convertible Preferred Stock are convertible into shares of Common Stock at a ratio of 0.2424 shares of Common Stock for each share of Senior Convertible Preferred Stock at the option of the holder at any time or by the Issuer under certain conditions. The Senior Convertible Preferred Stock is perpetual and therefore has no expiration date. | The secured subordinated convertible notes (the "Notes") purchased by the Funds pursuant to the EW SPA have an aggregate principal balance of $2,611,228.33 (with accrued and unpaid interest as of March 25, 2026 of $82,862.98) and are convertible at any time into an aggregate of 189,756 shares of Common Stock at a conversion rate of 72.6691 shares of Common Stock for each $1,000.00 principal amount of Notes.
Filing Info
Madryn Asset Management, LP's History
| Date | Ticker | Type | Value |
|---|---|---|---|
| 2026-03-26 | VERO | ▲ | $1.5M ★ |
| 2026-03-26 | VERO | ▲ | — |
| 2026-03-26 | VERO | ▲ | — |
| 2026-03-26 | VERO | ▲ | — |
| 2026-03-26 | VERO | ▲ | — |
| 2026-03-26 | VERO | ▲ | — |
| 2025-08-08 | STIM | ▼ | $717K |
| 2025-08-08 | STIM | ▼ | $10.9M |
| 2025-08-08 | STIM | ▼ | $1.4M |
| 2025-07-10 | STIM | G | $0 |
Other Insiders at VERO (90d)
| Insider | Bought | Sold | Last |
|---|---|---|---|
| Madryn Asset Management, LP | $1.5M | — | 2026-03-26 |
| EW Healthcare Partners, L.P. | — | — | 2026-03-26 |