VisionWave Holdings, Inc. 4

What Happened VisionWave Holdings, Inc., reported as a director of SaverOne 2014 Ltd. (SVRE) by deputization, made multiple open‑market purchases of the issuer’s American Depositary Shares (ADSs) in late March 2026. Across four transactions (Mar 23, 25, 27 and 30) VisionWave acquired 8,375 ADSs at $3.00 per ADS, which equals 361,800,000 underlying ordinary shares under the ADS ratio (43,200 ordinary shares per ADS). Total cash value of the purchases was $1,085,400,000. These were purchases (code P) — a direct acquisition rather than a sale or option exercise.

Key Details

• Transaction dates and sizes:
  • 2026-03-23: 5,138 ADSs (221,961,600 ordinary shares) @ $3.00 — $665,884,800
  • 2026-03-25: 737 ADSs (31,838,400 ordinary shares) @ $3.00 — $95,515,200
  • 2026-03-27: 1,892 ADSs (81,734,400 ordinary shares) @ $3.00 — $245,203,200
  • 2026-03-30: 608 ADSs (26,265,600 ordinary shares) @ $3.00 — $78,796,800
• Aggregate: 8,375 ADSs → 361,800,000 ordinary shares for $1,085,400,000.
• ADS ratio / pricing note: Price reported is $3.00 per ADS; each ADS represents 43,200 ordinary shares (effective Feb 25, 2026) — underlying ordinary shares shown reflect that ratio (Footnote 1).
• Ownership and control: VisionWave is deemed a director by deputization (controls board designee Douglas Davis) and has sole voting and dispositive power over these shares; the filing reflects beneficial ownership following these transactions (Footnote 2). No other equity or derivative securities are beneficially owned except as previously reported on Form 3 (Mar 10, 2026).
• Timeliness: The Form 4 was filed on 2026-04-02 for transactions occurring Mar 23–30; this appears to be a late filing (filed after the two‑business‑day window) and could carry reporting implications.

Context

• These were straight open‑market purchases of ADSs (no option exercises, awards, or gifts). Because the ADS ratio is very large (43,200 ordinary shares per ADS), relatively small ADS counts translate into very large numbers of ordinary shares and dollar values.
• VisionWave is an institutional/entity reporting as a director by virtue of control over a board designee, not an individual executive — treat this as institutional insider buying rather than a personal executive trade.
• The filing is factual only; purchases indicate acquisitions by the reporting entity but do not explain motive. Late filing may matter for disclosure compliance but does not change the underlying transactions.