Wei-Wu He Increases Stake in CASI Pharmaceuticals to 58.8% via $5M Convertible Note Purchase

On May 18, 2026, Wei-Wu He, Ph.D., and a group of associated entities including ETP Global III Fund L.P., filed Amendment No. 15 to their Schedule 13D for CASI Pharmaceuticals, Inc. (CASI). The filing reports an increase in beneficial ownership to 23,985,535 ordinary shares, representing 58.8% of the class, up from 53.0%. This change was primarily driven by ETP Global III Fund L.P.'s purchase of a $5 million convertible note on April 17, 2026, which constitutes the fourth tranche of a $20 million convertible note financing agreement dated December 11, 2025. The note bears 12% annual interest and is convertible into ordinary shares at a price between $1.00 and $2.00 per share. The reporting person's beneficial ownership calculation includes 20,000,000 shares issuable upon the conversion of four separate $5 million notes issued between December 2025 and April 2026, as well as 240,000 shares issuable upon option exercises. Proceeds from the financing are intended for clinical trials in China and general corporate operations.