Funicular Funds Proposes Acquisition of Synlogic, Inc. at $0.64 Per Share

Funicular Funds, LP, along with Cable Car Capital, LP and Jacob Ma-Weaver, filed an amendment to their Schedule 13D regarding Synlogic, Inc. (SYBX). As of April 2, 2026, the reporting persons collectively hold 3,312,219 shares of common stock, representing approximately 28.3% of the company's outstanding shares. The primary purpose of this filing is to disclose a non-binding proposal submitted to the Issuer's Board of Directors. The reporting persons have proposed to acquire all outstanding shares of Synlogic, Inc. that they do not already own for $0.64 per share in cash. This move signifies a major strategic shift from passive or minority holding toward a potential full acquisition of the company. Jacob Ma-Weaver, as the Managing Member of Cable Car Capital (the general partner of Funicular Funds), maintains dispositive and voting power over the reported shares. The proposal is currently non-binding and qualified by the terms set forth in the formal letter attached to the filing.