Explanatory Note
This Amendment No. 4 amends and supplements the Schedule 13D filed with the Securities and Exchange Commission on January 21, 2022,
as amended (the “Schedule 13D”), relating to the Reporting Persons’ ownership of shares of common stock, par value $0.0001 per share (the “Common Stock”), of Gelesis Holdings, Inc., a Delaware corporation (the
“Issuer”). Capitalized terms used but not defined herein shall have the meaning set forth in the Schedule 13D.
Unless set forth
below, all previous Items set forth in the Schedule 13D remain unchanged. Capitalized terms used herein and not defined have the meanings given to them in the Schedule 13D.
This Amendment is being filed to update the disclosure in Item 4.
Item 4. Purpose of Transaction.
Item 4 of the
Schedule 13D is hereby amended and supplemented as follows:
On April 19, 2023, PureTech Health plc submitted a revised non-binding proposal to the Chair of the Issuer’s Board to acquire all of the outstanding equity and equity-linked securities of the Issuer for an aggregate purchase price of $3.0 million in cash (the
“Revised Proposal”).
In the Revised Proposal, PureTech Health plc indicated that it is prepared to provide up to an additional
$1.5 million of senior secured financing to fund day-to-day operations of the Issuer on previously proposed terms (with the conversion ratio and warrant coverage
based on the implied per share value of the Revised Proposal), and is otherwise prepared to proceed on the terms previously agreed, including funding an additional $3.5 million of senior secured financing if the parties are able to enter into a
signed definitive agreement by May 5, 2023, which date may be extended if the parties mutually agree that the teams are making reasonable progress towards completing the agreement.
Neither the Revised Proposal nor this Amendment No. 4 is meant to be, nor should be construed as, an offer to buy, or the solicitation of an offer to
sell, any of the Issuer’s securities. The Reporting Persons intend to have discussions with members of the Issuer’s Board regarding the Proposal. The Reporting Persons may consider, explore and/or develop plans and/or make further
proposals, with respect to the Issuer’s operations, Board structure (including Board composition), capital structure, capital allocation policies, assets, liabilities, strategy and plans, and potential business combinations, dispositions and
strategic transactions pertaining to the Issuer or certain of the Issuer’s businesses or assets, including transactions in which the Reporting Persons may seek to participate and potentially engage in (including with other third parties). The
Reporting Persons may engage in a number of conversations that may relate to one or more of the items in subsections (a) through (j) of Item 4 of Schedule 13D. In addition, the Reporting Persons may communicate with the Issuer’s Board, or
others (including other stockholders), regarding a broad range of operational and strategic matters and other matters relating to the Issuer and the Reporting Persons’ investment in the Issuer, and may exchange information with any such persons
pursuant to appropriate confidentiality, non-disclosure or similar agreements.
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