CERo Therapeutics SEC Filings

Roivant Sciences Ltd. (ROIV) – Form 144 filing: Dr. Eric Venker has notified the SEC of his intent to sell up to 100,000 common shares through Rockefeller Financial beginning 21 Jul 2025. At the filing’s reference price, the block is valued at roughly $1.15 million and will trade on Nasdaq. Roivant lists 713.55 million shares outstanding, so the planned sale equals only ≈0.014 % of the float.

The notice also summarizes Venker’s recent activity: over the past three months he disposed of 1,082,835 shares across eight transactions, generating ≈$11.72 million in gross proceeds (20 Feb – 20 Jun 2025). The securities being sold were acquired via option exercise dated 20 Apr 2022 and paid for by wire.

No financial or operational metrics accompany the filing. From a capital-markets perspective, the proposed sale is immaterial to Roivant’s share count, yet the continuing insider sales trend can be interpreted as a modestly negative sentiment signal for investors.

Constellation Brands (STZ) – Form 4 insider transaction

Richard Sands, a Director and >10% owner, reported the vesting and automatic conversion (code “M”) of 503 restricted stock units into an equal number of Class A common shares on 07/10/2025. No cash was exchanged (exercise price $0). After the transaction, Sands’ direct holdings rose to 503 shares. He also maintains large indirect positions:

• 188,015 shares through RES Master LLC
• 5,066,666 shares through RES Business Holdings LP
• 1,736,884 shares through SER Business Holdings LP
• 15,720 shares held by his spouse

The filing reflects routine incentive-plan vesting rather than open-market buying or selling. Given the small share count relative to Sands’ multi-million-share stake and STZ’s ~200 million-share float, the event is unlikely to have a material impact on valuation or market sentiment.

MicroStrategy (NASDAQ: MSTR) filed an 8-K detailing recent at-the-market (ATM) equity sales and the redeployment of proceeds into bitcoin.

• Capital raised (7 – 13 July 2025): 797,008 common shares produced $330.9 million in net proceeds. Preferred ATMs issued 573,976 STRK ($71.1 m net), 444,005 STRF ($55.3 m) and 158,278 STRD ($15.0 m), taking total net proceeds to roughly $472 million.
• Remaining capacity: The common ATM still authorises $17.8 billion; preferred programmes collectively allow a further $26.5 billion, giving the company over $44 billion of issuance "dry powder".
• Bitcoin deployment: Using these proceeds, the company bought 4,225 BTC for $472.5 million at an average price of $111,827. Aggregate holdings now stand at 601,550 BTC, acquired for $42.87 billion (average $71,268).
• Disclosure practice: Management highlights its online dashboard as a Regulation FD-compliant channel for real-time updates on security prices, BTC purchases and key metrics.

The filing emphasises Strategy’s model of financing large bitcoin accumulations via continual equity issuance. While the additional BTC may appeal to crypto-oriented investors and bolsters nominal asset value, common shareholders face dilution and holders of new preferred shares bear high fixed dividends of 8-10%. The strategy materially increases exposure to bitcoin price volatility and related regulatory risk.

On 06/30/2025, Quest Resource Holding Corp. (QRHC) director Sarah Tomolonius reported the acquisition of 1,732 deferred stock units (DSUs) at an indicated price of $2.02 per unit, under the company’s 2024 Incentive Compensation Plan. These DSUs will convert into common shares when the director separates from the company.

After the transaction, Tomolonius beneficially owns 28,196 DSUs—18,027 granted in 2012 and 10,169 granted in 2024—plus 13,926 common shares held outright. Her total economic exposure therefore rises to approximately 42,122 shares. Ownership remains direct and no derivative securities were involved.

The purchase modestly increases insider alignment but is not material relative to QRHC’s overall share count or trading volume. No indication of a Rule 10b5-1 trading plan was disclosed, and no additional executive or strategic information accompanied the filing.

LightWave Acquisition Corp. (Nasdaq: LWACU) has completed its special-purpose acquisition company (SPAC) initial public offering. The 8-K dated 30 June 2025 reports that on 26 June 2025 the company closed the sale of 21,562,500 units (including the full over-allotment option) at $10.00 per unit, generating $215.625 million in gross proceeds. Each unit contains one Class A ordinary share and one-half warrant exercisable at $11.50.

Simultaneously, the sponsor and BTIG purchased a total of 606,250 private-placement units at the same $10.00 price. Together, IPO and private-placement proceeds—$215.625 million, inclusive of a $7.55 million deferred underwriting fee—were deposited into a U.S.-based trust account managed by Continental Stock Transfer & Trust. The funds are restricted until (i) a business combination, (ii) redemption if no deal is completed within 24 months, or (iii) certain shareholder-approved amendments.

The filing also discloses execution of key agreements customary for SPACs, including the underwriting agreement (BTIG), warrant agreement, investment management trust agreement, registration-rights agreement, two private-placement purchase agreements, administrative-services agreement and indemnification agreements for officers and directors.

Corporate governance changes: Three independent directors—Robert Hochberg (Audit Chair), Charlotte S. Blechman, and Allen C. Dickason (Compensation Chair)—joined the board on 24 June 2025. LightWave also adopted an amended & restated memorandum and articles of association with effect from the IPO closing.

Key takeaways for investors:

• Completed funding positions the SPAC with more than $215 million in trust to pursue an acquisition.
• Full exercise of the over-allotment option indicates solid demand for the offering.
• 24-month completion window and warrant structure introduce dilution and timeline risks typical of SPAC vehicles.

CERo Therapeutics Holdings has filed a Prospectus Supplement No. 3 (424B3) updating their May 23, 2025 prospectus for 2,100,000 shares of common stock. The company's stock (NASDAQ: CERO) last traded at $9.56 per share, while its warrants (CEROW) traded at $0.0264.

The key development reported is that the FDA has granted Orphan Drug Designation to the company's lead drug candidate CER-1236 for treating acute myeloid leukemia, as announced on June 17, 2025.

As an emerging growth company, CERo Therapeutics trades on the Nasdaq Capital Market. The filing includes important risk disclosures for investors, and the company has not elected to use the extended transition period for complying with new financial accounting standards.

• Common stock par value: $0.0001 per share
• Warrants: Each exercisable for 1/2000th of a common share
• Principal office: South San Francisco, CA