Rubric Capital Management LP's 15.9% Stake in Heron Therapeutics Following Preferred Stock Conversion and Note Purchase

This Schedule 13D/A amendment discloses Rubric Capital Management LP's updated 15.9% ownership stake in Heron Therapeutics following the automatic conversion of 94,610 preferred shares into 946,100 common shares after stockholder approval. The filing also details Rubric's $33.25 million purchase of convertible notes in August 2025, which become convertible after December 31, 2025, at a rate of 555.5556 shares per $1,000 principal amount. The notes can be settled in cash, shares, or a combination at the issuer's election. Rubric's total holdings now stand at 30,046,828 shares, representing a 12.48% increase in shares but a 1.53% decrease in ownership percentage due to dilution. The transactions reflect Rubric's continued strategic position in the company through both equity and debt instruments.