Mechelen, Belgium; May 26, 2026, 22.01 CET; regulated information – Lakefront Biotherapeutics NV (Euronext & NASDAQ: LKFT) received a transparency notification from Bank of America.
Pursuant to Belgian transparency legislation1, Lakefront received a transparency notification from Bank of America Corporation on May 20, 2026. The notification indicates that Bank of America Corporation, as controlling entity, crossed above the threshold of 5% of Lakefront’ voting rights on May 13, 2026, following the acquisition of Lakefront’ voting rights and equivalent financial instruments.
On May 20, 2026, Bank of America Corporation (taking into account the holding of its affiliates) owned 623,434 voting rights and 5,502,802 equivalent financial instruments, representing together 9.30% of Lakefront’ currently outstanding 65,897,071 shares.
Summary of the transactions:
| Date on which the threshold was crossed | Date of notification | Direct voting rights after the transaction | Equivalent financial instruments after the transaction | Total (%) voting rights |
| May 13, 2026 | May 20, 2026 | 0.95% | 8.35% | 9.30% |
Content of the notification from Bank of America Corporation:
The notification dated May 20, 2026, contains the following information:
• Date of notification: May 20, 2026
• Date on which the threshold is crossed: May 13, 2026
• Threshold of voting rights crossed (in %): 5%
• Notification by: Bank of America Corporation
• Denominator: 65,897,071
• Reason for the notification: Acquisition or disposal of financial instruments that are treated as voting securities
• Notified details:
| A) Voting Rights | Previous notification | After the transaction | |||
| # of voting rights | # of voting rights | % of voting rights | |||
| Holder of voting rights | Linked to securities | Not linked to securities | Linked to securities | Not linked to securities | |
| Bank of America Corporation | 0 | 0 | 0.00% | ||
| Bank of America, National Association | 12,447 | 14,348 | 0.02% | ||
| Merrill Lynch International | 225,319 | 8,234 | 0.01% | ||
| Managed Account Advisors LLC | 3 | 0 | 0.00% | ||
| BofA Securities, Inc. | 168,740 | 600,314 | 0.91% | ||
| Merrill Lynch, Pierce, Fenner & Smith Incorporated | 14,462 | 462 | 0.00% | ||
| U.S. Trust Company of Delaware | 121 | 76 | 0.00% | ||
| Subtotal | 421,092 | 623,434 | 0.95% | ||
| TOTAL | 623,434 | 0 | 0.95% | 0.00% | |
| B) Equivalent financial instruments | After the transaction | |||||
| Holder of equivalent financial instruments | Type of financial instrument | Expiration date | Exercise period or date | # of voting rights that may be acquired if the instrument is exercised | % of voting rights | Settlement |
| Merrill Lynch International | Right to Recall | 143,430 | 0.22% | physical | ||
| Merrill Lynch International | Rights of Use | 6,054 | 0.01% | physical | ||
| BofA Securities, Inc. | Right to Use | 5,068,385 | 7.69% | physical | ||
| Merrill Lynch International | Call Option | 19/06/2026 | 100,000 | 0.15% | physical | |
| Bank of America, National Association | Swaps | 15/10/2027 | 48,575 | 0.07% | cash | |
| Bank of America, National Association | Swaps | 15/06/2027 | 14,311 | 0.02% | cash | |
| Merrill Lynch International | Swaps | 15/01/2027 | 10,363 | 0.02% | cash | |
| Merrill Lynch International | Swaps | 30/04/2027 | 44,893 | 0.07% | cash | |
| Merrill Lynch International | Swaps | 30/06/2027 | 819 | 0.00% | cash | |
| Merrill Lynch International | Swaps | 15/06/2027 | 14,311 | 0.02% | cash | |
| Merrill Lynch International | Swaps | 10/05/2027 | 424 | 0.00% | cash | |
| Merrill Lynch International | Swaps | 09/09/2027 | 256 | 0.00% | cash | |
| Merrill Lynch International | Swaps | 21/06/2027 | 273 | 0.00% | cash | |
| Merrill Lynch International | Swaps | 15/10/2027 | 48,575 | 0.07% | cash | |
| Merrill Lynch International | Swaps | 30/06/2026 | 453 | 0.00% | cash | |
| Merrill Lynch International | Swaps | 29/01/2027 | 1,680 | 0.00% | cash | |
| TOTAL | 5,502,802 | 8.35% | ||||
| TOTAL (A&B) | # of voting rights | % of voting rights |
| 6,126,236 | 9.30% |
The chain of control has been described at the end of the notification (section 11) and can be found here.
About Lakefront® Biotherapeutics
Lakefront Biotherapeutics (formerly known as Galapagos) is a biotechnology company built to bring meaningful medicines to patients with serious diseases in therapeutic areas of unmet need. The Company combines world-class deal making expertise with capital to identify, acquire, and advance promising opportunities that have the potential to drive value for patients and shareholders. Applying a modality-agnostic asset selection approach and operational flexibility, Lakefront Biotherapeutics prioritizes oncology and immunology & inflammation programs with clear clinical proof-of-concept in emerging areas. For more information, visit https://www.lakefrontbio.com or follow us on LinkedIn or X.
For further information, contact Lakefront Biotherapeutics:
Investor Relations
Sherri Spear
+1 412 522 6418
sherri.spear@lakefrontbio.com
1 Belgian Act of 2 May 2007 on the disclosure of major shareholdings in issuers whose shares are admitted to trading on a regulated market and regarding miscellaneous provisions, as amended from time to time.
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