# EDGAR Filing Document

**Accession Number:** 0002078215
**File Stem:** 0001213900-25-094288
**Filing Date:** 2025-9
**Character Count:** 58812
**Document Hash:** f2cf49c0088f30741f779e5d03c13d85
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001213900-25-094288.hdr.sgml**: 20250930

**ACCESSION NUMBER**: 0001213900-25-094288

**CONFORMED SUBMISSION TYPE**: SCHEDULE 13D/A

**PUBLIC DOCUMENT COUNT**: 2

**FILED AS OF DATE**: 20250930

**DATE AS OF CHANGE**: 20250930

**SUBJECT COMPANY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Aureus Greenway Holdings Inc
- **CENTRAL INDEX KEY:** 0002009312
- **STANDARD INDUSTRIAL CLASSIFICATION:** SERVICES-MEMBERSHIP SPORTS & RECREATION CLUBS [7997]
- **ORGANIZATION NAME:** 07 Trade & Services
- **EIN:** 990418678
- **STATE OF INCORPORATION:** NV
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13D/A
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 005-94973
- **FILM NUMBER:** 251362306

**BUSINESS ADDRESS:**
- **STREET 1:** 2995 REMINGTON BLVD
- **CITY:** KISSIMMEE
- **STATE:** FL
- **ZIP:** 34744
- **BUSINESS PHONE:** 1-914-843-1982

**MAIL ADDRESS:**
- **STREET 1:** 2995 REMINGTON BLVD
- **CITY:** KISSIMMEE
- **STATE:** FL
- **ZIP:** 34744
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** American Ventures LLC, Series XVI AGH
- **CENTRAL INDEX KEY:** 0002078215

**ORGANIZATION NAME:**
- **EIN:** 393159741
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13D/A

**BUSINESS ADDRESS:**
- **STREET 1:** 110 FRONT STREET
- **STREET 2:** SUITE 300
- **CITY:** JUPITER
- **STATE:** FL
- **ZIP:** 33477
- **BUSINESS PHONE:** 917.608.7234

**MAIL ADDRESS:**
- **STREET 1:** 110 FRONT STREET
- **STREET 2:** SUITE 300
- **CITY:** JUPITER
- **STATE:** FL
- **ZIP:** 33477

## Exhibit 99.1

**Exhibit 99.1**

**<u>JOINT FILING AGREEMENT</u>**

Pursuant to and in accordance with the Securities Exchange Act of 1934, as amended, and the rules and regulations thereunder (the "Exchange Act") the undersigned hereby agree to the joint filing on behalf of each of them of any filing required by such party under Section 13 of the Exchange Act or any rule or regulation thereunder (including any amendment, restatement, supplement, and/or exhibit thereto) with respect to securities of Aureus Greenway Holdings Inc., and further agree to the filing, furnishing, and/or incorporation by reference of this Agreement as an exhibit thereto. Each of them is responsible for the timely filing of such filings and any amendments thereto, and for the completeness and accuracy of the information concerning such person contained therein; but none of them is responsible for the completeness or accuracy of the information concerning the other persons making the filing, unless such person knows or has reason to believe that such information is inaccurate. This Agreement shall remain in full force and effect until revoked by any party hereto in a signed writing provided to each other party hereto, and then only with respect to such revoking party. This Agreement may be executed in any number of counterparts all of which taken together shall constitute one and the same instrument.

Dated: September 30, 2025

---

| | |
|:---|:---|
| **AMERICAN VENTURES LLC, SERIES XVI AGH** | **AMERICAN VENTURES LLC, SERIES XVI AGH** |
| By: American Ventures Management LLC, its manager<br> By: American Ventures IM LLC, its investment manager | By: American Ventures Management LLC, its manager<br> By: American Ventures IM LLC, its investment manager |
|  | /s/ Eric Newman |
| Name: | Eric Newman |
| Title: | Manager |
| **AMERICAN VENTURES MANAGEMENT LLC** | **AMERICAN VENTURES MANAGEMENT LLC** |
|  | /s/ Eric Newman |
| Name: | Eric Newman |
| Title: | Manager |
| **AMERICAN VENTURES IM LLC** | **AMERICAN VENTURES IM LLC** |
|  | /s/ Eric Newman |
| Name: | Eric Newman |
| Title: | Manager |
| **DOMINARI HOLDINGS INC.** | **DOMINARI HOLDINGS INC.** |
|  | /s/ Kyle Michael Wool |
| Name: | Kyle Michael Wool |
| Title: | President and Director |
|  | /s/ Eric Newman |
| Name: | Eric Newman |
|  | /s/ Anthony Hayes |
| Name: | Anthony Hayes |
| **TRAJAN HOLDINGS LLC** | **TRAJAN HOLDINGS LLC** |
|  | /s/ Kyle Michael Wool |
| Name: | Kyle Michael Wool |
| Title: | Sole Member and Manager |
|  | /s/ Kyle Michael Wool |
| Name: | Kyle Michael Wool |

---

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## SCHEDULE 13D

### Under the Securities Exchange Act of 1934

**(Amendment No. 2)**

**Aureus Greenway Holdings Inc**

*(Name of Issuer)*

**Common Stock, par value $0.001 per share.**

*(Title of Class of Securities)*

**05156D102**

*(CUSIP Number)*

**American Ventures LLC,**<br>Series XVI AGH<br>110 Front Street Suite 300<br>Jupiter FL 33477<br>917.608.7234

*(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)*

**09/26/2025**

*(Date of Event Which Requires Filing of this Statement)*

| **CUSIP No.** | **05156D102** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**American Ventures LLC, Series XVI AGH** | Name of reporting person<br>**American Ventures LLC, Series XVI AGH** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**WC** | Source of funds (See Instructions)<br>**WC** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**DELAWARE** | Citizenship or place of organization<br>**DELAWARE** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**400000.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**400000.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**400000.00** | Aggregate amount beneficially owned by each reporting person<br>**400000.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**2.74%** | Percent of class represented by amount in Row (11)<br>**2.74%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**OO** | Type of Reporting Person (See Instructions)<br>**OO** | |

---

**Comment for Reporting Person:** The number of shares represented by the amount in Rows 8, 10 and 11 includes (i) 0 shares of the Issuer's common stock owned by American Ventures LLC, Series XVI AGH ("Series XVI AGH") and (ii) 400,000 shares of the Issuer's common stock owned by Trajan Holdings LLC ("Trajan"). Series XVI AGH holds such shares and the AGH Warrants, discussed below, directly. Series XVI AGH owns no shares of the Issuer that are held by Trajan, directly or indirectly, and disclaims beneficial ownership interest in such shares. The number of shares represented by the amount in Rows 8, 10 and 11 excludes (i) 29,885,057 shares of common stock that may be purchased by exercising the Issuer's Common Stock Purchase Warrants A ("Common Warrants A"), (ii) 29,885,057 shares of common stock that may be purchased by exercising the Issuer's Common Stock Purchase Warrants B ("Common Warrants B"), and (iii) 29,030,677 shares of common stock that may be purchased by exercising the Issuer's Pre-Funded Common Stock Purchase Warrants ("Pre-Funded Warrants"), none of which are currently exercisable within 60 days (collectively, the "AGH Warrants"). However, pursuant to the warrant agreements relating to the AGH Warrants, the AGH Warrants are subject to 4.99% (or, at the election of the holder, 9.99%) beneficial ownership limitations or "blockers," wherein Series XVI AGH may not exercise its AGH Warrants for shares of common stock to the extent that, upon giving effect to such exercise, Series XVI AGH together with its affiliates, and any other persons acting as a group together with Series XVI AGH or any of the Series XVI AGH's affiliates (such persons, "Attribution Parties") would beneficially own greater than 4.99% (or, at the election of Series XVI AGH, 9.99%) of the Issuer's common stock as calculated in accordance with Rule 13d-3 under the Securities Exchange Act of 1934, as amended. For purposes of calculating the blockers, the number of shares of common stock beneficially owned by Series XVI AGH and its affiliates and Attribution Parties shall include the number of shares of common stock issuable upon exercise of the AGH Warrants with respect to which such determination is being made, but will exclude the number of shares of common stock which would be issuable upon (i) exercise of the remaining, nonexercised portion of each such warrant beneficially owned by Series XVI AGH or any of its affiliates or Attribution Parties and (ii) exercise or conversion of the unexercised or nonconverted portion of any other securities of the Issuer (including, without limitation, any other common stock equivalents) subject to a limitation on conversion or exercise analogous to the limitation contained therein beneficially owned by Series XVI AGH or any of its affiliates or Attribution Parties. The aggregate number of shares of common stock and the percentage of total outstanding shares of common stock beneficially owned by the Reporting Persons gives effect to this beneficial ownership blocker pursuant to Rule 13d-3(d)(1)(i). The percent of class represented by the amount in Row 13 is based on 14,608,988 shares of the Issuer's common stock issued and outstanding as of August 14, 2025, as reported in the Issuer's Form 10-Q filed with the SEC on August 14, 2025.

| **CUSIP No.** | **05156D102** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**American Ventures Management LLC** | Name of reporting person<br>**American Ventures Management LLC** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**AF** | Source of funds (See Instructions)<br>**AF** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**DELAWARE** | Citizenship or place of organization<br>**DELAWARE** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**400000.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**400000.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**400000.00** | Aggregate amount beneficially owned by each reporting person<br>**400000.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**2.74%** | Percent of class represented by amount in Row (11)<br>**2.74%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**OO** | Type of Reporting Person (See Instructions)<br>**OO** | |

---

**Comment for Reporting Person:** The number of shares represented by the amount in Rows 8, 10 and 11 includes (i) 0 shares of the Issuer's common stock owned by American Ventures LLC, Series XVI AGH ("Series XVI AGH") and (ii) 400,000 shares of the Issuer's common stock owned by Trajan Holdings LLC ("Trajan"). Series XVI AGH holds such shares and the AGH Warrants, discussed below, directly. Series XVI AGH owns no shares of the Issuer that are held by Trajan, directly or indirectly, and disclaims beneficial ownership interest in such shares. American Ventures Management LLC is the manager of Series XVI AGH and does not hold any shares or AGH Warrants directly. The number of shares represented by the amount in Rows 8, 10 and 11 excludes (i) 29,885,057 shares of common stock that may be purchased by exercising the Issuer's Common Stock Purchase Warrants A ("Common Warrants A"), (ii) 29,885,057 shares of common stock that may be purchased by exercising the Issuer's Common Stock Purchase Warrants B ("Common Warrants B"), and (iii) 29,030,677 shares of common stock that may be purchased by exercising the Issuer's Pre-Funded Common Stock Purchase Warrants ("Pre-Funded Warrants"), none of which are currently exercisable within 60 days (collectively, the "AGH Warrants"). However, pursuant to the warrant agreements relating to the AGH Warrants, the AGH Warrants are subject to 4.99% (or, at the election of the holder, 9.99%) beneficial ownership limitations or "blockers," wherein Series XVI AGH may not exercise its AGH Warrants for shares of common stock to the extent that, upon giving effect to such exercise, Series XVI AGH together with its affiliates, and any other persons acting as a group together with Series XVI AGH or any of the Series XVI AGH's affiliates (such persons, "Attribution Parties") would beneficially own greater than 4.99% (or, at the election of Series XVI AGH, 9.99%) of the Issuer's common stock as calculated in accordance with Rule 13d-3 under the Securities Exchange Act of 1934, as amended. For purposes of calculating the blockers, the number of shares of common stock beneficially owned by Series XVI AGH and its affiliates and Attribution Parties shall include the number of shares of common stock issuable upon exercise of the AGH Warrants with respect to which such determination is being made, but will exclude the number of shares of common stock which would be issuable upon (i) exercise of the remaining, nonexercised portion of each such warrant beneficially owned by Series XVI AGH or any of its affiliates or Attribution Parties and (ii) exercise or conversion of the unexercised or nonconverted portion of any other securities of the Issuer (including, without limitation, any other common stock equivalents) subject to a limitation on conversion or exercise analogous to the limitation contained therein beneficially owned by Series XVI AGH or any of its affiliates or Attribution Parties. The aggregate number of shares of common stock and the percentage of total outstanding shares of common stock beneficially owned by the Reporting Persons gives effect to this beneficial ownership blocker pursuant to Rule 13d-3(d)(1)(i). The percent of class represented by the amount in Row 13 is based on 14,608,988 shares of the Issuer's common stock issued and outstanding as of August 14, 2025, as reported in the Issuer's Form 10-Q filed with the SEC on August 14, 2025.

| **CUSIP No.** | **05156D102** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**American Ventures IM LLC** | Name of reporting person<br>**American Ventures IM LLC** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**AF** | Source of funds (See Instructions)<br>**AF** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**DELAWARE** | Citizenship or place of organization<br>**DELAWARE** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**400000.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**400000.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**400000.00** | Aggregate amount beneficially owned by each reporting person<br>**400000.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**2.74%** | Percent of class represented by amount in Row (11)<br>**2.74%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**OO** | Type of Reporting Person (See Instructions)<br>**OO** | |

---

**Comment for Reporting Person:** The number of shares represented by the amount in Rows 8, 10 and 11 includes (i) 0 shares of the Issuer's common stock owned by American Ventures LLC, Series XVI AGH ("Series XVI AGH") and (ii) 400,000 shares of the Issuer's common stock owned by Trajan Holdings LLC ("Trajan"). Series XVI AGH holds such shares and the AGH Warrants, discussed below, directly. Series XVI AGH owns no shares of the Issuer that are held by Trajan, directly or indirectly, and disclaims beneficial ownership interest in such shares. American Ventures IM LLC is the investment manager of Series XVI AGH and does not hold any shares or AGH Warrants directly. The number of shares represented by the amount in Rows 8, 10 and 11 excludes (i) 29,885,057 shares of common stock that may be purchased by exercising the Issuer's Common Stock Purchase Warrants A ("Common Warrants A"), (ii) 29,885,057 shares of common stock that may be purchased by exercising the Issuer's Common Stock Purchase Warrants B ("Common Warrants B"), and (iii) 29,030,677 shares of common stock that may be purchased by exercising the Issuer's Pre-Funded Common Stock Purchase Warrants ("Pre-Funded Warrants"), none of which are currently exercisable within 60 days (collectively, the "AGH Warrants"). However, pursuant to the warrant agreements relating to the AGH Warrants, the AGH Warrants are subject to 4.99% (or, at the election of the holder, 9.99%) beneficial ownership limitations or "blockers," wherein Series XVI AGH may not exercise its AGH Warrants for shares of common stock to the extent that, upon giving effect to such exercise, Series XVI AGH together with its affiliates, and any other persons acting as a group together with Series XVI AGH or any of the Series XVI AGH's affiliates (such persons, "Attribution Parties") would beneficially own greater than 4.99% (or, at the election of Series XVI AGH, 9.99%) of the Issuer's common stock as calculated in accordance with Rule 13d-3 under the Securities Exchange Act of 1934, as amended. For purposes of calculating the blockers, the number of shares of common stock beneficially owned by Series XVI AGH and its affiliates and Attribution Parties shall include the number of shares of common stock issuable upon exercise of the AGH Warrants with respect to which such determination is being made, but will exclude the number of shares of common stock which would be issuable upon (i) exercise of the remaining, nonexercised portion of each such warrant beneficially owned by Series XVI AGH or any of its affiliates or Attribution Parties and (ii) exercise or conversion of the unexercised or nonconverted portion of any other securities of the Issuer (including, without limitation, any other common stock equivalents) subject to a limitation on conversion or exercise analogous to the limitation contained therein beneficially owned by Series XVI AGH or any of its affiliates or Attribution Parties. The aggregate number of shares of common stock and the percentage of total outstanding shares of common stock beneficially owned by the Reporting Persons gives effect to this beneficial ownership blocker pursuant to Rule 13d-3(d)(1)(i). The percent of class represented by the amount in Row 13 is based on 14,608,988 shares of the Issuer's common stock issued and outstanding as of August 14, 2025, as reported in the Issuer's Form 10-Q filed with the SEC on August 14, 2025.

| **CUSIP No.** | **05156D102** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Dominari Holdings Inc.** | Name of reporting person<br>**Dominari Holdings Inc.** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**AF** | Source of funds (See Instructions)<br>**AF** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**DELAWARE** | Citizenship or place of organization<br>**DELAWARE** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**400000.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**400000.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**400000.00** | Aggregate amount beneficially owned by each reporting person<br>**400000.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**2.74%** | Percent of class represented by amount in Row (11)<br>**2.74%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**CO** | Type of Reporting Person (See Instructions)<br>**CO** | |

---

**Comment for Reporting Person:** The number of shares represented by the amount in Rows 8, 10 and 11 includes (i) 0 shares of the Issuer's common stock owned by American Ventures LLC, Series XVI AGH ("Series XVI AGH") and (ii) 400,000 shares of the Issuer's common stock owned by Trajan Holdings LLC ("Trajan"). Series XVI AGH holds such shares and the AGH Warrants, discussed below, directly. Series XVI AGH owns no shares of the Issuer that are held by Trajan, directly or indirectly, and disclaims beneficial ownership interest in such shares. Dominari Holdings Inc. ("DOMH"), a Delaware corporation, is the majority member of American Ventures Management LLC and American Ventures IM LLC and does not hold any shares or the AGH Warrants directly. The number of shares represented by the amount in Rows 8, 10 and 11 excludes (i) 29,885,057 shares of common stock that may be purchased by exercising the Issuer's Common Stock Purchase Warrants A ("Common Warrants A"), (ii) 29,885,057 shares of common stock that may be purchased by exercising the Issuer's Common Stock Purchase Warrants B ("Common Warrants B"), and (iii) 29,030,677 shares of common stock that may be purchased by exercising the Issuer's Pre-Funded Common Stock Purchase Warrants ("Pre-Funded Warrants"), none of which are currently exercisable within 60 days (collectively, the "AGH Warrants"). However, pursuant to the warrant agreements relating to the AGH Warrants, the AGH Warrants are subject to 4.99% (or, at the election of the holder, 9.99%) beneficial ownership limitations or "blockers," wherein Series XVI AGH may not exercise its AGH Warrants for shares of common stock to the extent that, upon giving effect to such exercise, Series XVI AGH together with its affiliates, and any other persons acting as a group together with Series XVI AGH or any of the Series XVI AGH's affiliates (such persons, "Attribution Parties") would beneficially own greater than 4.99% (or, at the election of Series XVI AGH, 9.99%) of the Issuer's common stock as calculated in accordance with Rule 13d-3 under the Securities Exchange Act of 1934, as amended. For purposes of calculating the blockers, the number of shares of common stock beneficially owned by Series XVI AGH and its affiliates and Attribution Parties shall include the number of shares of common stock issuable upon exercise of the AGH Warrants with respect to which such determination is being made, but will exclude the number of shares of common stock which would be issuable upon (i) exercise of the remaining, nonexercised portion of each such warrant beneficially owned by Series XVI AGH or any of its affiliates or Attribution Parties and (ii) exercise or conversion of the unexercised or nonconverted portion of any other securities of the Issuer (including, without limitation, any other common stock equivalents) subject to a limitation on conversion or exercise analogous to the limitation contained therein beneficially owned by Series XVI AGH or any of its affiliates or Attribution Parties. The aggregate number of shares of common stock and the percentage of total outstanding shares of common stock beneficially owned by the Reporting Persons gives effect to this beneficial ownership blocker pursuant to Rule 13d-3(d)(1)(i). The percent of class represented by the amount in Row 13 is based on 14,608,988 shares of the Issuer's common stock issued and outstanding as of August 14, 2025, as reported in the Issuer's Form 10-Q filed with the SEC on August 14, 2025.

| **CUSIP No.** | **05156D102** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Eric Newman** | Name of reporting person<br>**Eric Newman** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**AF** | Source of funds (See Instructions)<br>**AF** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**X1** | Citizenship or place of organization<br>**X1** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**400000.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**400000.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**400000.00** | Aggregate amount beneficially owned by each reporting person<br>**400000.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**2.74%** | Percent of class represented by amount in Row (11)<br>**2.74%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**IN** | Type of Reporting Person (See Instructions)<br>**IN** | |

---

**Comment for Reporting Person:** The number of shares represented by the amount in Rows 8, 10 and 11 includes (i) 0 shares of the Issuer's common stock owned by American Ventures LLC, Series XVI AGH ("Series XVI AGH") and (ii) 400,000 shares of the Issuer's common stock owned by Trajan Holdings LLC ("Trajan"). Series XVI AGH holds such shares and the AGH Warrants, discussed below, directly. Series XVI AGH owns no shares of the Issuer that are held by Trajan, directly or indirectly, and disclaims beneficial ownership interest in such shares. Eric Newman ("Mr. Newman") is the manager of American Ventures Management LLC and American Ventures IM LLC, respectively, which is the manager and investment manager of Series XVI AGH. Mr. Newman does not own any shares or AGH Warrants directly and disclaims beneficial ownership over any securities held by Series XVI AGH and Trajan other than to the extent of his respective pecuniary interest therein, directly or indirectly. The number of shares represented by the amount in Rows 8, 10 and 11 excludes (i) 29,885,057 shares of common stock that may be purchased by exercising the Issuer's Common Stock Purchase Warrants A ("Common Warrants A"), (ii) 29,885,057 shares of common stock that may be purchased by exercising the Issuer's Common Stock Purchase Warrants B ("Common Warrants B"), and (iii) 29,030,677 shares of common stock that may be purchased by exercising the Issuer's Pre-Funded Common Stock Purchase Warrants ("Pre-Funded Warrants"), none of which are currently exercisable within 60 days (collectively, the "AGH Warrants"). However, pursuant to the warrant agreements relating to the AGH Warrants, the AGH Warrants are subject to 4.99% (or, at the election of the holder, 9.99%) beneficial ownership limitations or "blockers," wherein Series XVI AGH may not exercise its AGH Warrants for shares of common stock to the extent that, upon giving effect to such exercise, Series XVI AGH together with its affiliates, and any other persons acting as a group together with Series XVI AGH or any of the Series XVI AGH's affiliates (such persons, "Attribution Parties") would beneficially own greater than 4.99% (or, at the election of Series XVI AGH, 9.99%) of the Issuer's common stock as calculated in accordance with Rule 13d-3 under the Securities Exchange Act of 1934, as amended. For purposes of calculating the blockers, the number of shares of common stock beneficially owned by Series XVI AGH and its affiliates and Attribution Parties shall include the number of shares of common stock issuable upon exercise of the AGH Warrants with respect to which such determination is being made, but will exclude the number of shares of common stock which would be issuable upon (i) exercise of the remaining, nonexercised portion of each such warrant beneficially owned by Series XVI AGH or any of its affiliates or Attribution Parties and (ii) exercise or conversion of the unexercised or nonconverted portion of any other securities of the Issuer (including, without limitation, any other common stock equivalents) subject to a limitation on conversion or exercise analogous to the limitation contained therein beneficially owned by Series XVI AGH or any of its affiliates or Attribution Parties. The aggregate number of shares of common stock and the percentage of total outstanding shares of common stock beneficially owned by the Reporting Persons gives effect to this beneficial ownership blocker pursuant to Rule 13d-3(d)(1)(i). The percent of class represented by the amount in Row 13 is based on 14,608,988 shares of the Issuer's common stock issued and outstanding as of August 14, 2025, as reported in the Issuer's Form 10-Q filed with the SEC on August 14, 2025.

| **CUSIP No.** | **05156D102** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Anthony Hayes** | Name of reporting person<br>**Anthony Hayes** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**AF** | Source of funds (See Instructions)<br>**AF** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**X1** | Citizenship or place of organization<br>**X1** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**400000.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**400000.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**400000.00** | Aggregate amount beneficially owned by each reporting person<br>**400000.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**2.74%** | Percent of class represented by amount in Row (11)<br>**2.74%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**IN** | Type of Reporting Person (See Instructions)<br>**IN** | |

---

**Comment for Reporting Person:** The number of shares represented by the amount in Rows 8, 10 and 11 includes (i) 0 shares of the Issuer's common stock owned by American Ventures LLC, Series XVI AGH ("Series XVI AGH") and (ii) 400,000 shares of the Issuer's common stock owned by Trajan Holdings LLC ("Trajan"). Series XVI AGH holds such shares and the AGH Warrants, discussed below, directly. Series XVI AGH owns no shares of the Issuer that are held by Trajan, directly or indirectly, and disclaims beneficial ownership interest in such shares. Anthony Hayes ("Mr. Hayes") is the Chief Executive Officer, a director and Chairman of the board of directors of Dominari Holdings Inc., the majority member of American Ventures Management LLC and American Ventures IM LLC, respectively the manager and investment manager of Series XVI AGH. Mr. Hayes does not own any shares or AGH Warrants directly and disclaims beneficial ownership over any securities held by Series XVI AGH and Trajan other than to the extent of his respective pecuniary interest therein, directly or indirectly. The number of shares represented by the amount in Rows 8, 10 and 11 excludes (i) 29,885,057 shares of common stock that may be purchased by exercising the Issuer's Common Stock Purchase Warrants A ("Common Warrants A"), (ii) 29,885,057 shares of common stock that may be purchased by exercising the Issuer's Common Stock Purchase Warrants B ("Common Warrants B"), and (iii) 29,030,677 shares of common stock that may be purchased by exercising the Issuer's Pre-Funded Common Stock Purchase Warrants ("Pre-Funded Warrants"), none of which are currently exercisable within 60 days (collectively, the "AGH Warrants"). However, pursuant to the warrant agreements relating to the AGH Warrants, the AGH Warrants are subject to 4.99% (or, at the election of the holder, 9.99%) beneficial ownership limitations or "blockers," wherein Series XVI AGH may not exercise its AGH Warrants for shares of common stock to the extent that, upon giving effect to such exercise, Series XVI AGH together with its affiliates, and any other persons acting as a group together with Series XVI AGH or any of the Series XVI AGH's affiliates (such persons, "Attribution Parties") would beneficially own greater than 4.99% (or, at the election of Series XVI AGH, 9.99%) of the Issuer's common stock as calculated in accordance with Rule 13d-3 under the Securities Exchange Act of 1934, as amended. For purposes of calculating the blockers, the number of shares of common stock beneficially owned by Series XVI AGH and its affiliates and Attribution Parties shall include the number of shares of common stock issuable upon exercise of the AGH Warrants with respect to which such determination is being made, but will exclude the number of shares of common stock which would be issuable upon (i) exercise of the remaining, nonexercised portion of each such warrant beneficially owned by Series XVI AGH or any of its affiliates or Attribution Parties and (ii) exercise or conversion of the unexercised or nonconverted portion of any other securities of the Issuer (including, without limitation, any other common stock equivalents) subject to a limitation on conversion or exercise analogous to the limitation contained therein beneficially owned by Series XVI AGH or any of its affiliates or Attribution Parties. The aggregate number of shares of common stock and the percentage of total outstanding shares of common stock beneficially owned by the Reporting Persons gives effect to this beneficial ownership blocker pursuant to Rule 13d-3(d)(1)(i). The percent of class represented by the amount in Row 13 is based on 14,608,988 shares of the Issuer's common stock issued and outstanding as of August 14, 2025, as reported in the Issuer's Form 10-Q filed with the SEC on August 14, 2025.

| **CUSIP No.** | **05156D102** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Trajan Holdings LLC** | Name of reporting person<br>**Trajan Holdings LLC** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**PF** | Source of funds (See Instructions)<br>**PF** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**FLORIDA** | Citizenship or place of organization<br>**FLORIDA** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**400000.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**400000.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**400000.00** | Aggregate amount beneficially owned by each reporting person<br>**400000.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**2.74%** | Percent of class represented by amount in Row (11)<br>**2.74%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**OO** | Type of Reporting Person (See Instructions)<br>**OO** | |

---

**Comment for Reporting Person:** The number of shares represented by the amount in Rows 8, 10 and 11 includes (i) 0 shares of the Issuer's common stock owned by American Ventures LLC, Series XVI AGH ("Series XVI AGH") and (ii) 400,000 shares of the Issuer's common stock owned by Trajan Holdings LLC ("Trajan"). Series XVI AGH holds such shares and the AGH Warrants, discussed below, directly. Series XVI AGH owns no shares of the Issuer that are held by Trajan, directly or indirectly, and disclaims beneficial ownership interest in such shares. Trajan owns no shares of the Issuer or AGH Warrants that are held by Series XVI AGH, directly or indirectly, and disclaims beneficial ownership interest in such shares and AGH Warrants. The number of shares represented by the amount in Rows 8, 10 and 11 excludes (i) 29,885,057 shares of common stock that may be purchased by exercising the Issuer's Common Stock Purchase Warrants A ("Common Warrants A"), (ii) 29,885,057 shares of common stock that may be purchased by exercising the Issuer's Common Stock Purchase Warrants B ("Common Warrants B"), and (iii) 29,030,677 shares of common stock that may be purchased by exercising the Issuer's Pre-Funded Common Stock Purchase Warrants ("Pre-Funded Warrants"), none of which are currently exercisable within 60 days (collectively, the "AGH Warrants"). However, pursuant to the warrant agreements relating to the AGH Warrants, the AGH Warrants are subject to 4.99% (or, at the election of the holder, 9.99%) beneficial ownership limitations or "blockers," wherein Series XVI AGH may not exercise its AGH Warrants for shares of common stock to the extent that, upon giving effect to such exercise, Series XVI AGH together with its affiliates, and any other persons acting as a group together with Series XVI AGH or any of the Series XVI AGH's affiliates (such persons, "Attribution Parties") would beneficially own greater than 4.99% (or, at the election of Series XVI AGH, 9.99%) of the Issuer's common stock as calculated in accordance with Rule 13d-3 under the Securities Exchange Act of 1934, as amended. For purposes of calculating the blockers, the number of shares of common stock beneficially owned by Series XVI AGH and its affiliates and Attribution Parties shall include the number of shares of common stock issuable upon exercise of the AGH Warrants with respect to which such determination is being made, but will exclude the number of shares of common stock which would be issuable upon (i) exercise of the remaining, nonexercised portion of each such warrant beneficially owned by Series XVI AGH or any of its affiliates or Attribution Parties and (ii) exercise or conversion of the unexercised or nonconverted portion of any other securities of the Issuer (including, without limitation, any other common stock equivalents) subject to a limitation on conversion or exercise analogous to the limitation contained therein beneficially owned by Series XVI AGH or any of its affiliates or Attribution Parties. The aggregate number of shares of common stock and the percentage of total outstanding shares of common stock beneficially owned by the Reporting Persons gives effect to this beneficial ownership blocker pursuant to Rule 13d-3(d)(1)(i). The percent of class represented by the amount in Row 13 is based on 14,608,988 shares of the Issuer's common stock issued and outstanding as of August 14, 2025, as reported in the Issuer's Form 10-Q filed with the SEC on August 14, 2025.

| **CUSIP No.** | **05156D102** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Kyle Michael Wool** | Name of reporting person<br>**Kyle Michael Wool** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**AF** | Source of funds (See Instructions)<br>**AF** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**X1** | Citizenship or place of organization<br>**X1** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**400000.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**400000.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**400000.00** | Aggregate amount beneficially owned by each reporting person<br>**400000.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**2.74%** | Percent of class represented by amount in Row (11)<br>**2.74%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**IN** | Type of Reporting Person (See Instructions)<br>**IN** | |

---

**Comment for Reporting Person:** The number of shares represented by the amount in Rows 8, 10 and 11 includes (i) 0 shares of the Issuer's common stock owned by American Ventures LLC, Series XVI AGH ("Series XVI AGH") and (ii) 400,000 shares of the Issuer's common stock owned by Trajan Holdings LLC ("Trajan"). Series XVI AGH holds such shares and the AGH Warrants, discussed below, directly. Series XVI AGH owns no shares of the Issuer that are held by Trajan, directly or indirectly, and disclaims beneficial ownership interest in such shares. Kyle Wool ("Mr. Wool") is the sole member and manager of Trajan and thus has sole voting power and dispositive power over the securities of the Issuer held by Trajan. Additionally, Mr. Wool is the President of Dominari Holdings Inc., the majority member of American Ventures Management LLC and American Ventures IM LLC, respectively the manager and investment manager of Series XVI AGH. Mr. Wool does not own any shares or AGH Warrants directly and disclaims beneficial ownership over any securities held by Trajan and Series XVI AGH other than to the extent of his respective pecuniary interest therein, directly or indirectly. The number of shares represented by the amount in Rows 8, 10 and 11 excludes (i) 29,885,057 shares of common stock that may be purchased by exercising the Issuer's Common Stock Purchase Warrants A ("Common Warrants A"), (ii) 29,885,057 shares of common stock that may be purchased by exercising the Issuer's Common Stock Purchase Warrants B ("Common Warrants B"), and (iii) 29,030,677 shares of common stock that may be purchased by exercising the Issuer's Pre-Funded Common Stock Purchase Warrants ("Pre-Funded Warrants"), none of which are currently exercisable within 60 days (collectively, the "AGH Warrants"). However, pursuant to the warrant agreements relating to the AGH Warrants, the AGH Warrants are subject to 4.99% (or, at the election of the holder, 9.99%) beneficial ownership limitations or "blockers," wherein Series XVI AGH may not exercise its AGH Warrants for shares of common stock to the extent that, upon giving effect to such exercise, Series XVI AGH together with its affiliates, and any other persons acting as a group together with Series XVI AGH or any of the Series XVI AGH's affiliates (such persons, "Attribution Parties") would beneficially own greater than 4.99% (or, at the election of Series XVI AGH, 9.99%) of the Issuer's common stock as calculated in accordance with Rule 13d-3 under the Securities Exchange Act of 1934, as amended. For purposes of calculating the blockers, the number of shares of common stock beneficially owned by Series XVI AGH and its affiliates and Attribution Parties shall include the number of shares of common stock issuable upon exercise of the AGH Warrants with respect to which such determination is being made, but will exclude the number of shares of common stock which would be issuable upon (i) exercise of the remaining, nonexercised portion of each such warrant beneficially owned by Series XVI AGH or any of its affiliates or Attribution Parties and (ii) exercise or conversion of the unexercised or nonconverted portion of any other securities of the Issuer (including, without limitation, any other common stock equivalents) subject to a limitation on conversion or exercise analogous to the limitation contained therein beneficially owned by Series XVI AGH or any of its affiliates or Attribution Parties. The aggregate number of shares of common stock and the percentage of total outstanding shares of common stock beneficially owned by the Reporting Persons gives effect to this beneficial ownership blocker pursuant to Rule 13d-3(d)(1)(i). The percent of class represented by the amount in Row 13 is based on 14,608,988 shares of the Issuer's common stock issued and outstanding as of August 14, 2025, as reported in the Issuer's Form 10-Q filed with the SEC on August 14, 2025.

**Item 1. Security and Issuer**

**(a) Title of Class of Securities:**
Common Stock, par value $0.001 per share.

**(b) Name of Issuer:**
Aureus Greenway Holdings Inc

**(c) Address of Issuer's Principal Executive Offices:**
2995 REMINGTON BLVD, Kissimmee, FL, 34744

**Item 4. Purpose of Transaction**

The Reporting Persons acquired the securities described herein for investment purposes. The Reporting Persons may engage in discussions with the Issuer's management, board of directors, stockholders, and other interested parties concerning potential strategic transactions, including possible merger and acquisition opportunities. The Reporting Persons may from time to time make introductions or otherwise facilitate discussions between the Issuer and third parties regarding such potential opportunities. The Reporting Persons are in discussions with third parties that may result in one of the actions described in Item 4(a)-(j) above, however there are currently no definitive agreements to undertake such actions. Additionally, the Reporting Persons may continue to review and consider other opportunities that may present themselves from time to time, depending on various factors, including the Issuer's financial position, the price level of the securities, conditions in the securities markets, general economic and industry conditions, or other factors.

**Item 5. Interest in Securities of the Issuer**

**(a)**
The aggregate number and percentage of the class of securities identified pursuant to Item 1 beneficially owned by each Reporting Person is stated in Items 11 and 13 on each of the cover pages hereto. Only Mr. Wool has voting and dispositive power over the securities held by Trajan. Mr. Newman, Mr. Hayes, AV Management, AV IM, and Series XVI AGH have no voting or dispositive power over the securities held by Trajan. Each Reporting Person declares that neither the filing of this Schedule 13D nor anything herein shall be construed as an admission that such person is, for the purposes of Section 13(d) or 13(g) of the Act or any other purpose, the beneficial owner of any securities covered by this Schedule 13D. Each Reporting Person may be deemed to be a member of a group with respect to the Issuer or securities of the Issuer for the purposes of Section 13(d) or 13(g) of the Exchange Act. Each Reporting Person declares that neither the filing of this Schedule 13D nor anything herein shall be construed as an admission that such person is, for the purposes of Section 13(d) or 13(g) of the Act or any other purpose, (i) acting (or has agreed or is agreeing to act) with any other person as a partnership, limited partnership, syndicate or other group for the purpose of acquiring, holding or disposing of securities of the Issuer or otherwise with respect to the Issuer or any securities of the Issuer or (ii) a member of any syndicate or group with respect to the Issuer or any securities of the Issuer.

**(b)**
(i) sole power to vote or to direct the vote: See Item 7 on the cover pages hereto. (ii) shared power to vote or to direct the vote: See Item 8 on the cover pages hereto. (iii) sole power to dispose or to direct the disposition of: See Item 9 on the cover pages hereto. (iv) shared power to dispose or to direct the disposition of: See Item 10 on the cover pages hereto. Series XVI AGH and Trajan are the record and direct beneficial owners of the securities covered by this Schedule 13D. Series XVI AGH and Trajan have the power to vote or to direct the vote of (and the power to dispose or direct the disposition of) their respectively owned shares of common stock. As the manager of AV Management and AV IM (respectively, the manager and investment manager of Series XVI AGH), Mr. Newman may be deemed to have the shared power to vote or to direct the vote of (and the shared power to dispose or direct the disposition of) any shares of common stock owned by Series XVI AGH. Mr. Newman, AV Management, and AV IM do not own any shares of common stock directly and disclaim beneficial ownership of any shares of common stock owned by Series XVI AGH. As the Chief Executive Officer, a director and Chairman of the board of directors of DOMH (the majority member of Series XVI AGH), Mr. Hayes may be deemed to have the shared power to vote or to direct the vote of (and the shared power to dispose or direct the disposition of) any shares of common stock owned by Series XVI AGH. Mr. Hayes and DOMH do not own any shares of common stock directly and disclaim beneficial ownership of any shares of common stock owned by Series XVI AGH. As the President of DOMH (the majority member of Series XVI AGH), Mr. Wool may be deemed to have the shared power to vote or to direct the vote of (and the shared power to dispose or direct the disposition of) any shares of common stock owned by Series XVI AGH. Mr. Wool does not own any shares of common stock directly that are owned by Series XVI AGH and disclaims beneficial ownership of any shares of common stock owned by Series XVI AGH. As the sole member and manager of Trajan, Mr. Wool may be deemed to have the shared power to vote or to direct the vote of (and the shared power to dispose or direct the disposition of) any shares of common stock beneficially owned by Trajan. Mr. Wool does not own any shares of common stock directly that are owned by Trajan and disclaims beneficial ownership of any shares of common stock beneficially owned by Trajan. As of the date hereof, no Reporting Person owns any shares of common stock of the Issuer other than as set forth in this Item 5.

**(c)**
During the past 60 days, Series XVI AGH (i) acquired 125,392 shares of common stock through its exercise of its Pre-Funded Warrants on September 29, 2025, and (ii)  effected the following sales of shares of the Issuer's common stock: (1) on September 16, 2025, Series XVI AGH sold 56,269 shares of common stock at a price of $3.9968 per share; (2) on September 17, 2025, Series XVI AGH sold 11,184 shares of common stock at a price of $4.085 per share; (3) on September 18, 2025, Series XVI AGH sold 25,924 shares of common stock at a price of $3.142 per share; (4) on September 26, 2025, Series XVI AGH sold 202,028 shares of common stock at a price of $2.763 per share; (5) on September 29, 2025, Series XVI AGH sold 115,000 shares of common stock at a price of $3.167 per share; and (6) on September 29, 2025, Series XVI AGH sold 47,000 shares of common stock at a price of $3.4484 per share. As a result of the transactions, the Reporting Persons' beneficial ownership decreased by more than one percent (1%) of the outstanding shares of the Issuer's common stock and the Reporting Persons' beneficial ownership fell below 5% of the Issuer's issued and outstanding shares of common stock.

**Item 6. Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer.**

Other than as set forth herein, there are no contracts, arrangements, understandings or relationships among the Reporting Persons, or between the Reporting Persons and any other person, with respect to the securities of the Issuer reported herein.

### SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** American Ventures LLC, Series XVI AGH

**Signature:** /s/ Eric Newman

**Name/Title:** Eric Newman / Manager of American Ventures Management LLC, Manager of American Ventures LLC, Series XVI AGH

**Date:** 09/30/2025

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** American Ventures Management LLC

**Signature:** /s/ Eric Newman

**Name/Title:** Eric Newman / Manager

**Date:** 09/30/2025

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** American Ventures IM LLC

**Signature:** /s/ Eric Newman

**Name/Title:** Eric Newman / Manager

**Date:** 09/30/2025

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Dominari Holdings Inc.

**Signature:** /s/ Kyle Michael Wool

**Name/Title:** Kyle Michael Wool / President

**Date:** 09/30/2025

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Eric Newman

**Signature:** /s/ Eric Newman

**Name/Title:** Eric Newman / Self

**Date:** 09/30/2025

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Anthony Hayes

**Signature:** /s/ Anthony Hayes

**Name/Title:** Anthony Hayes / Self

**Date:** 09/30/2025

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Trajan Holdings LLC

**Signature:** /s/ Kyle Michael Wool

**Name/Title:** Kyle Michael Wool / Sole Member and Manager of Trajan Holdings LLC

**Date:** 09/30/2025

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Kyle Michael Wool

**Signature:** /s/ Kyle Michael Wool

**Name/Title:** Kyle Michael Wool / Self

**Date:** 09/30/2025