Innoviva, Inc. Reports 82.7% Stake and $25M Loan Agreement with Armata Pharmaceuticals

Innoviva, Inc. and its subsidiary, Innoviva Strategic Opportunities LLC, filed Amendment No. 15 to their Schedule 13D for Armata Pharmaceuticals, Inc. (ARMP) on May 13, 2026. The filing reports a significant beneficial ownership of 55,467,459 shares, representing 82.7% of the company. This ownership includes 25,076,769 shares of common stock, 10,653,847 shares issuable via warrants, and 19,736,843 shares issuable upon the conversion of a convertible loan. The primary purpose of this amendment was to disclose a new financial agreement; on May 12, 2026, the Issuer entered into a 'May 2026 Credit Agreement' with Innoviva Sub. Under this agreement, Armata borrowed $25,000,000 through a secured term loan facility. The loan carries a 14.00% annual interest rate and matures on January 11, 2029. Notably, this specific new credit facility is not convertible into equity securities. The reporting persons maintain a dominant controlling position in the issuer through their combined holdings of common stock and derivative securities.