Braveheart Bio, Inc.
Filed Jul 15, 2026.
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A company's registration of shares for sale to the public, often for a first offering. It describes the business, its risks and how the company plans to use the money.
period unavailable · Filed Jul 15, 2026
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S-11 braveheartbioinc-sx1.htm S-1
As filed with the Securities and Exchange Commission on July 14, 2026.
Registration No. 333-
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM S-1
REGISTRATION STATEMENT
UNDER
THE SECURITIES ACT OF 1933
(Exact name of registrant as specified in its charter)
| Delaware | 2834 | 99-2981994 |
|---|---|---|
| (State or other jurisdiction of incorporation or organization) | (Primary Standard Industrial Classification Code Number) | (I.R.S. Employer Identification Number) |
One Letterman Drive, Building A, Suite A4-300
San Francisco, CA 94129
(415) 707 - 6312
(Address, including zip code, and telephone number, including area code, of registrant’s principal executive offices)
Travis Murdoch
Chief Executive Officer
One Letterman Drive, Building A, Suite A4-300
San Francisco, CA 94129
(415) 707 - 6312
(Name, address, including zip code, and telephone number, including area code, of agent for service)
Copies to:
| Kingsley L. TaftGabriela Morales-RiveraAlicia TschirhartGoodwin Procter LLP100 Northern Ave. Boston, MA 02210(617) 570-1000 | Paul RickeyBraveheart Bio, Inc.One Letterman Drive, Building A, Suite A4-300San Francisco, CA 94129 | Brian K. RosenzweigAlicia ZhangCharles A. DobbCovington & Burling LLP30 Hudson YardsNew York, NY 10001(212) 841-1001 |
|---|
Approximate date of commencement of proposed sale to the public: As soon as practicable after this registration statement becomes effective.
If any of the securities being registered on this Form are to be offered on a delayed or continuous basis pursuant to Rule 415 under the Securities Act of 1933 check the following box. o
If this Form is filed to register additional securities for an offering pursuant to Rule 462(b) under the Securities Act, please check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering. o
If this Form is a post-effective amendment filed pursuant to Rule 462(c) under the Securities Act, check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering. o
If this Form is a post-effective amendment filed pursuant to Rule 462(d) under the Securities Act, check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering. o
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.
| Large accelerated filer | o | Accelerated filer | o |
|---|---|---|---|
| Non-accelerated filer | ☒ | Smaller reporting company | ☒ |
| Emerging growth company | ☒ | ||
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of the Securities Act. o
The Registrant hereby amends this Registration Statement on such date or dates as may be necessary to delay its effective date until the Registrant shall file a further amendment which specifically states that this Registration Statement shall thereafter become effective in accordance with Section 8(a) of the Securities Act of 1933, as amended, or until the Registration Statement shall become effective on such date as the Securities and Exchange Commission, acting pursuant to said Section 8(a), may determine.
The information in this preliminary prospectus is not complete and may be changed. We may not sell these securities until the registration statement filed with the Securities and Exchange Commission is effective. This preliminary prospectus is not an offer to sell these securities and it is not soliciting an offer to buy these securities in any state or other jurisdiction where the offer or sale is not permitted.
SUBJECT TO COMPLETION, DATED July 14, 2026
PRELIMINARY PROSPECTUS
Shares
This is the initial public offering of shares of common stock of Braveheart Bio, Inc. We are offering shares of our common stock.
For a description of the rights of our common stock, please see “Description of Capital Stock” beginning on page 209 of this prospectus. Unless otherwise noted, all references in this prospectus to our “common stock,” “common shares” or “shares” refer to our common stock.
Prior to this offering, there has been no public market for our common stock. It is currently estimated that the initial public offering price per share will be between $ and $ . We have applied to list our common stock on The Nasdaq Global Market (“Nasdaq”) under the symbol “BRVE”. We believe that upon the completion of this offering, we will meet the standards for listing on Nasdaq, and the completion of this offering is contingent upon such listing.
We are an “emerging growth company” and a “smaller reporting company” as defined under the United States (“U.S.”) federal securities laws and, as such, we have elected to comply with certain reduced reporting requirements.
Investing in our common stock involves a high degree of risk. See the section titled “Risk Factors” beginning on page 14 to read about factors that you should consider before deciding to invest in shares of our common stock.
| Per Share | Total | |
| Initial public offering price | $ | $ |
|---|---|---|
| Underwriting discounts and commissions(1) | $ | $ |
| Proceeds, before expenses, to us | $ | $ |
(1)See the section titled “Underwriting” for additional information regarding compensation payable to the underwriters.
We have granted the underwriters the option to purchase up to an additional shares of common stock from us, at the initial public offering price, less the underwriting discounts and commissions.
The underwriters expect to deliver the shares of common stock on or about , 2026.
Neither the Securities and Exchange Commission nor any state securities commission has approved or disapproved of these securities or determined if this prospectus is truthful or complete. Any representation to the contrary is a criminal offense.
Joint Bookrunners
| Goldman Sachs & Co. LLC | Jefferies | TD Cowen | Stifel | Cantor |
|---|
, 2026
TABLE OF CONTENTS
| PROSPECTUS SUMMARY | 1 |
|---|---|
| THE OFFERING | 10 |
| SUMMARY FINANCIAL DATA | 12 |
| RISK FACTORS | 14 |
| USE OF PROCEEDS | 89 |
| DIVIDEND POLICY | 91 |
| CAPITALIZATION | 92 |
| DILUTION | 94 |
| MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS | 97 |
| BUSINESS | 117 |
| MANAGEMENT | 172 |
| EXECUTIVE COMPENSATION | 184 |
| DIRECTOR COMPENSATION | 199 |
| CERTAIN RELATIONSHIPS AND RELATED PERSON TRANSACTIONS | 203 |
| PRINCIPAL STOCKHOLDERS | 206 |
| DESCRIPTION OF CAPITAL STOCK | 209 |
| SHARES ELIGIBLE FOR FUTURE SALE | 215 |
| MATERIAL U.S. FEDERAL INCOME AND ESTATE TAX CONSEQUENCES FOR NON-U.S. HOLDERS | 217 |
| UNDERWRITING | 222 |
| LEGAL MATTERS | 228 |
| EXPERTS | 228 |
| WHERE YOU CAN FIND ADDITIONAL INFORMATION | 229 |
| INDEX TO FINANCIAL STATEMENTS | F-1 |
Neither we nor the underwriters have authorized anyone to provide you any information or make any representations other than those contained in this prospectus or in any free writing prospectuses prepared by or on behalf of us or to which we have referred you. We and the underwriters take no responsibility for, and can provide no assurance as to the reliability of, any other information that others may give you. We and the underwriters are not making an offer to sell these securities in any jurisdiction where the offer or sale is not permitted. You should assume that the information appearing in this prospectus or in any applicable free writing prospectus is current only as of its date, regardless of its time of delivery or any sale of shares of our common stock. Our business, financial condition, results of operations and prospects may have changed since that date.
For investors outside of the U.S.: we have not, and the underwriters have not, done anything that would permit this offering or possession or distribution of this prospectus in any jurisdiction where action for that purpose is required, other than the U.S. Persons outside of the U.S. who come into possession of this prospectus must inform themselves about, and observe any restrictions relating to, the offering of the shares of our common stock and the distribution of this prospectus outside of the U.S.
All trademarks, trade names and service marks appearing in this prospectus are the property of their respective owners. Solely for convenience, the trademarks and trade names in this prospectus may be referred to without the® and ™ symbols, but such references should not be construed as any indicator that their respective owners will not assert their rights thereto.
i
Market, Industry and Other Data
The market data and certain other statistical information used throughout this prospectus are based on independent industry publications, governmental publications, reports by market research firms or other independent sources that we believe to be reliable sources. Industry publications and third-party research, surveys and studies generally indicate that their information has been obtained from sources believed to be reliable, although they do not guarantee the accuracy or completeness of such information. We are responsible for all of the disclosure contained in this prospectus, and we believe that these sources are reliable; however, we have not independently verified the information contained in such publications. While we are not aware of any misstatements regarding any third-party information presented in this prospectus, their estimates, in particular, as they relate to projections, involve numerous assumptions, are subject to risks and uncertainties, and are subject to change based on various factors, including those discussed under the section titled “Risk Factors” and elsewhere in this prospectus. Some data are also based on our good faith estimates.
ii
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.