Summary by Futu AI
On February 6, 2024, Peter J. Werth and Werth Family Investment Associates LLC filed an amendment to their Schedule 13D with the SEC, disclosing a significant ownership stake in Cingulate Inc. The filing, which is an update to previous submissions, reports that Peter J. Werth may be deemed to beneficially own 958,440 shares of Cingulate's common stock, representing 19.99% of the company. This ownership includes direct holdings, stock options, and warrants. Werth Family Investment Associates LLC, managed by Werth, holds a similar stake of 956,672 shares, also representing 19.96% of the company. The reported ownership percentages are based on 3,977,171 shares of Cingulate's common stock outstanding as of February 7, 2024, after a 1-for-20 reverse stock split effective on November 30, 2023. The filing also notes that certain pre-funded warrants held by Werth and his associated LLC are subject to a beneficial ownership limitation blocker, preventing ownership exceeding 19.99% post-exercise of the warrants. The amendment does not reflect any other transactions in the company's securities within the past sixty days prior to the filing date.