RTW Investments Increases Stake in Orchestra BioMed Holdings via Warrant Exercise to 19.2%

On April 27, 2026, RTW Investments, LP and its affiliates filed an amendment to their Schedule 13D regarding Orchestra BioMed Holdings, Inc. (OBIO). The filing details the exercise of pre-funded warrants by several RTW-managed funds, including RTW Master Fund, Ltd. and RTW Innovation Master Fund, Ltd. Specifically, the funds exercised warrants to purchase 1,250,032 shares of common stock on a cashless basis, resulting in the issuance of 1,250,000 net new shares after withholding 32 shares for the exercise price. Following these transactions, RTW Investments, LP, led by Managing Partner Roderick Wong, M.D., beneficially owns an aggregate of 11,942,394 shares, representing approximately 19.2% of the issuer's outstanding common stock. This total includes shares held directly by the funds and additional shares issuable upon the exercise of remaining pre-funded warrants. The reporting persons maintain shared voting and dispositive power over these securities, which were acquired for investment purposes.