Major Ownership Changes in Prime Medicine Inc. Revealed in SEC Filing

Published by
Matthew Martins
  • GV 2019 GP, L.L.C. discloses significant ownership changes in Prime Medicine Inc. in recent SEC filing.
  • Transactions involve acquisition and disposal of non-derivative securities, as well as ownership of derivative securities.
  • Ownership changes reflect complex relationships within reporting entities, including Alphabet Inc.’s indirect influence.

The United States Securities and Exchange Commission (SEC) recently received a filing disclosing significant changes in the beneficial ownership of Prime Medicine Inc. The filing, submitted by GV 2019 GP, L.L.C., provides insights into various transactions involving the company’s securities. This announcement has attracted attention as it reveals the movement of substantial ownership stakes and highlights the involvement of prominent entities.

GV 2019 GP, L.L.C., a reporting entity in the filing, disclosed multiple transactions and changes in beneficial ownership within Prime Medicine Inc. These transactions were made in accordance with the requirements of Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940.

According to the filing, GV 2019 GP, L.L.C. is a 10% owner of Prime Medicine Inc., indicating a significant interest in the company. The transactions reported include the acquisition and disposal of non-derivative securities, as well as the ownership of derivative securities.

In the first transaction detailed in Table I of the filing, GV 2019 GP, L.L.C. disposed of 13,076 shares of Prime Medicine’s common stock on May 18, 2023. The shares were sold at an average price of $13.0086 per share. Following this transaction, GV 2019 GP, L.L.C.’s indirect beneficial ownership was reduced to 10,722,248 shares.

Additionally, GV 2019 GP, L.L.C. reported the acquisition and disposal of further common stock shares on the same day. The filing indicates that 14,022 shares were disposed of at an average price of $13.0631 per share, resulting in zero indirect beneficial ownership by Alphabet Holdings LLC. Alphabet Holdings LLC is indirectly owned by Alphabet Inc., which has significant influence over Prime Medicine Inc.

Further transactions involving GV 2019 GP, L.L.C., Alphabet Holdings LLC, and GV 2021 GP, L.L.C. were also reported, reflecting the complexity of the ownership structure within the involved entities. The filing outlines the detailed relationships between the reporting persons and Prime Medicine Inc.

It is worth noting that these transactions were made in accordance with a Rule 10b5-1 trading plan adopted by GV 2019 GP, L.L.C. on April 6, 2023, providing a pre-arranged framework for the transactions.

Prime Medicine Inc., a company focused on developing transformative gene editing therapies, has been the subject of increased attention due to its innovative approach to gene-based medicine. With these ownership changes, the company’s corporate landscape may experience shifts in strategy, decision-making, and potential collaborations.

Matthew Martins

Published by
Matthew Martins

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