<SEC-DOCUMENT>0001610717-24-000014.txt : 20240104
<SEC-HEADER>0001610717-24-000014.hdr.sgml : 20240104
<ACCEPTANCE-DATETIME>20240104180642
ACCESSION NUMBER:		0001610717-24-000014
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20240102
FILED AS OF DATE:		20240104
DATE AS OF CHANGE:		20240104

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Krause Kevin Michael
		CENTRAL INDEX KEY:			0001916925
		ORGANIZATION NAME:           	

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-41331
		FILM NUMBER:		24513650

	MAIL ADDRESS:	
		STREET 1:		369 27TH STREET
		CITY:			SAN FRANCISCO
		STATE:			CA
		ZIP:			94131

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			AN2 Therapeutics, Inc.
		CENTRAL INDEX KEY:			0001880438
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		ORGANIZATION NAME:           	03 Life Sciences
		IRS NUMBER:				820606654
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		1800 EL CAMINO REAL, SUITE D
		CITY:			MENLO PARK
		STATE:			CA
		ZIP:			94027
		BUSINESS PHONE:		(650) 331-9090

	MAIL ADDRESS:	
		STREET 1:		1800 EL CAMINO REAL, SUITE D
		CITY:			MENLO PARK
		STATE:			CA
		ZIP:			94027
</SEC-HEADER>
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    <periodOfReport>2024-01-02</periodOfReport>

    <issuer>
        <issuerCik>0001880438</issuerCik>
        <issuerName>AN2 Therapeutics, Inc.</issuerName>
        <issuerTradingSymbol>ANTX</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001916925</rptOwnerCik>
            <rptOwnerName>Krause Kevin Michael</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O AN2 THERAPEUTICS, INC.</rptOwnerStreet1>
            <rptOwnerStreet2>1800 EL CAMINO REAL, SUITE D</rptOwnerStreet2>
            <rptOwnerCity>MENLO PARK</rptOwnerCity>
            <rptOwnerState>CA</rptOwnerState>
            <rptOwnerZipCode>94027</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isOfficer>true</isOfficer>
            <officerTitle>Chief Strategy Officer</officerTitle>
        </reportingOwnerRelationship>
    </reportingOwner>

    <aff10b5One>true</aff10b5One>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2024-01-02</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>M</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
                <footnoteId id="F1"/>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>2583</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0.42</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>4497</value>
                    <footnoteId id="F2"/>
                    <footnoteId id="F3"/>
                </sharesOwnedFollowingTransaction>
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            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2024-01-02</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>S</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
                <footnoteId id="F1"/>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>2583</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>20.1189</value>
                    <footnoteId id="F4"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>1914</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
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        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>Stock Option (right to buy)</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>0.42</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2024-01-02</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>M</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
                <footnoteId id="F1"/>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>2583</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <footnoteId id="F5"/>
            </exerciseDate>
            <expirationDate>
                <value>2030-01-22</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>2583</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>52285</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
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        </derivativeTransaction>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">The transaction reported in this Form 4 was effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on September 28, 2023.</footnote>
        <footnote id="F2">Reflects the adjusted total which includes the purchase of 934 shares under the AN2 Employee Stock Purchase Plan on March 31, 2023.</footnote>
        <footnote id="F3">Reflects the adjusted total which includes the purchase of 980 shares under the AN2 Employee Stock Purchase Plan on September 29, 2023.</footnote>
        <footnote id="F4">Price reported is a weighted-average sales price. The shares were sold at prices ranging from $20.00 to $20.26. The reporting person will provide upon request to the SEC, the Issuer or security holder of the Issuer, full information regarding the number of shares sold at each separate price.</footnote>
        <footnote id="F5">The option is subject to an early exercise provision and is immediately exercisable. The shares subject to the option vest as follows: 25% of the shares vested on November 21, 2020; and 1/48th of the shares vests monthly thereafter over the following three years, subject to the Reporting Person's continuous service as of such date.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Lucy Day, Attorney-in-Fact for Kevin Michael Krause</signatureName>
        <signatureDate>2024-01-04</signatureDate>
    </ownerSignature>
</ownershipDocument>
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<TYPE>EX-24
<SEQUENCE>2
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    <div style="text-align: center; margin-right: 180.35pt; margin-left: 179.55pt; margin-top: 3.4pt; color: rgb(35, 31, 32); font-size: 12pt; font-weight: bold;">POWER OF ATTORNEY</div>
    <div style="text-align: justify; text-indent: 35.95pt; margin-right: 5.75pt; margin-left: 5pt; margin-top: 11.6pt; color: rgb(35, 31, 32);">Know all by these presents, that the undersigned hereby constitutes and appoints each of (i) the Chief Executive
      Officer of AN2 Therapeutics, Inc., a Delaware corporation (the &#8220;<font style="font-weight: bold;">Company</font>&#8221;), who is currently Eric Easom, (ii) the Company's Chief Financial Officer, who is currently Lucy O. Day, (iii) the Company's Chief Legal
      Officer and Secretary, who is currently Josh Eizen, and their respective successors, and each of (iv) Kathleen M. Wells, (v) Richard Kim and (vi) Casey Tong of Latham &amp; Watkins LLP, signing individually, with full power of substitution, as the
      undersigned's true and lawful attorney-in-fact to:</div>
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              <div style="text-align: left; margin-left: 43.6pt;">(1)</div>
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            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify; color: rgb(35, 31, 32);">execute for and on behalf of the undersigned, in the undersigned&#8217;s capacity as an executive officer of the Company, Forms 3, 4 and 5 (including amendments thereto) in accordance with
                Section 16(a) of the Securities Exchange Act of 1934 and the rules and regulations thereunder and a Form ID, Uniform Application for Access Codes to File on EDGAR;</div>
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            <td style="width: 77pt; vertical-align: top; text-align: right;">
              <div style="text-align: left; margin-left: 41pt;">(2)</div>
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            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify; color: rgb(35, 31, 32);">do and perform any and all acts for and on behalf of the undersigned which may be necessary or desirable to complete and execute any such Forms 3, 4 or 5 or Form ID and timely file
                such forms (including amendments thereto) and application with the United States Securities and Exchange Commission and any stock exchange or similar authority; and</div>
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              <div style="text-align: left; margin-left: 41pt;">(3)</div>
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            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify; color: rgb(35, 31, 32);">take any other action of any type whatsoever in connection with the foregoing which, in the opinion of such attorney-in-fact, may be of benefit to, in the best interest of, or legally
                required by, the undersigned, it being understood that the documents executed by such attorney-in-fact on behalf of the undersigned pursuant to this Power of Attorney shall be in such form and shall contain such terms and conditions as such
                attorney-in-fact may approve in such attorney-in-fact's discretion.</div>
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    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 35.95pt; margin-right: 5.55pt; margin-left: 5pt; color: rgb(35, 31, 32);">The undersigned hereby grants to each such attorney-in-fact full power and authority to do and perform any and every act and thing
      whatsoever requisite, necessary or proper to be done in the exercise of any of the rights and powers herein granted, as fully to all intents and purposes as the undersigned might or could do if personally present, with full power of substitution or
      revocation, hereby ratifying and confirming all that such attorney-in-fact, or such attorney-in-fact's substitute or substitutes, shall lawfully do or cause to be done by virtue of this power of attorney and the rights and powers herein granted. The
      undersigned acknowledges that the foregoing attorneys-in-fact, in serving in such capacity at the request of the undersigned, are not assuming, nor is the Company assuming, any of the undersigned's responsibilities to comply with Section 16 of the
      Securities Exchange Act of 1934.</div>
    <div style="margin-top: 0.55pt;"><br>
    </div>
    <div style="text-align: justify; text-indent: 35.95pt; margin-right: 5.6pt; margin-left: 5pt; color: rgb(35, 31, 32);">The undersigned agrees that each such attorney-in-fact herein may rely entirely on information furnished orally or in writing by the
      undersigned to such attorney-in-fact. The undersigned also agrees to indemnify and hold harmless the Company and each such attorney-in-fact against any losses, claims, damages or liabilities (or actions in these respects) that arise out of or are
      based upon any untrue statements or omission of necessary facts in the information provided by the undersigned to such attorney-in fact for purposes of executing, acknowledging, delivering or filing Forms 3, 4 or 5 (including amendments thereto) or
      Form ID and agrees to reimburse the Company and such attorney-in-fact for any legal or other expenses reasonably incurred in connection with investigating or defending against any such loss, claim, damage, liability or action.</div>
    <div style="margin-top: 0.1pt;"><br>
    </div>
    <div style="text-align: justify; text-indent: 35.95pt; margin-right: 5.75pt; margin-left: 5pt; color: rgb(35, 31, 32);">This Power of Attorney supersedes any power of attorney previously executed by the undersigned regarding the purposes outlined in
      the first paragraph hereof ("<font style="font-weight: bold; font-style: italic;">Prior Powers of Attorney</font>"), and the authority of the attorneys- in-fact named in any Prior Powers of Attorney is hereby revoked.</div>
    <div style="margin-top: 0.05pt;"><br>
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    <div style="text-align: justify; text-indent: 35.95pt; margin-right: 5.6pt; margin-left: 5pt; color: rgb(35, 31, 32);">This Power of Attorney shall remain in full force and effect until the undersigned is no longer required to file Forms 3, 4 or 5 with
      respect to the undersigned's holdings of and transactions in securities issued by the Company, unless earlier (a) revoked by the undersigned in a signed writing delivered to the foregoing attorneys-in-fact or</div>
    <div style="text-align: justify; margin-right: 5.95pt; margin-left: 5pt; color: rgb(35, 31, 32);">(b) superseded by a new power of attorney regarding the purposes outlined in the first paragraph hereof dated as of a later date.</div>
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    <div style="text-indent: 35.95pt; margin-right: 26.25pt; margin-left: 5pt; margin-top: 3.8pt; color: rgb(35, 31, 32);">IN WITNESS WHEREOF, the undersigned has caused this Power of Attorney to be executed as of this 14th day of December, 2023.</div>
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            <td valign="top" nowrap="nowrap" align="left" style="width: 487.188px; border-bottom: 2px solid rgb(0, 0, 0);">/s/ Kevin Michael Krause</td>
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            <td valign="top" style="color: rgb(0, 0, 0); font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; width: 41.75px;">&#160;</td>
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