06/22/2026 | Press release | Distributed by Public on 06/22/2026 16:44
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FORM 3
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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940 |
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| Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | SEC 1473 (7-02) | ||
| Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. | |||
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1. Title of Derivative Security (Instr. 4) |
2. Date Exercisable and Expiration Date (Month/Day/Year) |
3. Title and Amount of Securities Underlying Derivative Security (Instr. 4) |
4. Conversion or Exercise Price of Derivative Security |
5. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 5) |
6. Nature of Indirect Beneficial Ownership (Instr. 5) |
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| Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||
| Stock Options(3) | 08/12/2028 | 08/12/2035 | Common Stock, par value $0.001 | 182,351 | $1.89 | I | BFF Ltd. |
| Stock Options(4) | 09/12/2025 | 08/12/2035 | Common Stock, par value $0.001 | 145,881 | $1.89 | I | BFF Ltd. |
| Warrant to purchase common stock(5) | 09/24/2026 | 09/24/2026 | Common Stock, par value $0.001 | 93,197 | $4.29 | I | BFF II Pte. Ltd. |
| Reporting Owner Name / Address | Relationships | |||
| Director | 10% Owner | Officer | Other | |
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Madhavji Alykhan 3111 CAMINO DEL RIO NORTH, SUITE 400 SAN DIEGO, CA 92108 |
X | X | Chief Financial Officer | |
| /s/ Alykhan Madhavji | 06/21/2026 | |
| **Signature of Reporting Person | Date |
| * | If the form is filed by more than one reporting person, see Instruction 5(b)(v). |
| ** | Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). |
| (1) | BFF Ltd. Is a controlled entity under common control with Mr. Madhavji and, as such, he may be deemed to have beneficial ownership over BFF Ltd.'s entire holding of 87,529 shares of Common Stock. Mr. Madhavji disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein, if any. |
| (2) | The reported securities are directly held by BFF II Pte. Ltd.. Mr. Madhavji serves as a director and authorized signatory of BFF II Pte. Ltd. In such capacity, he may be deemed to have indirect beneficial ownership of the 1,361,825 shares of Common Stock held by BFF II Pte. Ltd.. Mr. Madhavji disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein, if any. |
| (3) | Represents a stock option originally granted by RTB Digital, Inc. on August 12, 2025, which was assumed by the Issuer in connection with the business combination between the Issuer and RTB Digital, Inc. The Reporting Person's interest in this option is held indirectly through BFF Ltd., a controlled entity under common control with Mr. Madhavji, and, as such, he may be deemed to have beneficial ownership over BFF Ltd.'s interest in this stock option. Following the transaction, the option became exercisable for shares of the Issuer's common stock on substantially the same terms as in effect immediately prior to the transaction, with appropriate adjustments to the number of underlying shares and exercise price, and continues to vest in accordance with its original vesting schedule, subject to the Reporting Person's continued service with the Issuer. Mr. Madhavji disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein, if any. |
| (4) | Represents a stock option originally granted by RTB Digital, Inc. on August 12, 2025, which was assumed by the Issuer in connection with the business combination between the Issuer and RTB Digital, Inc. The Reporting Person's interest in this option is held indirectly through BFF Ltd., a controlled entity under common control with Mr. Madhavji, and, as such, he may be deemed to have beneficial ownership over BFF Ltd.'s interest in this stock option. Following the transaction, the option became exercisable for shares of the Issuer's common stock on substantially the same terms as in effect immediately prior to the transaction, with appropriate adjustments to the number of underlying shares and exercise price, and continues to vest in accordance with its original vesting schedule, subject to the Reporting Person's continued service with the Issuer. Mr. Madhavji disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein, if any. |
| (5) | Represents a common stock purchase warrant issued pursuant to the RTB Digital, Inc. Securities Purchase Agreement dated September 24, 2025, which became exercisable upon the closing of the business combination between the Issuer. and RTB Digital, Inc. and is exercisable for up to 93,197 shares of the Issuer's common stock for twelve months following such closing, subject to adjustments as provided therein. Mr. Madhavji disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein, if any. |