<SEC-DOCUMENT>0001079973-25-001053.txt : 20250623
<SEC-HEADER>0001079973-25-001053.hdr.sgml : 20250623
<ACCEPTANCE-DATETIME>20250623160829
ACCESSION NUMBER:		0001079973-25-001053
CONFORMED SUBMISSION TYPE:	SCHEDULE 13G
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20250623
DATE AS OF CHANGE:		20250623

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Aptevo Therapeutics Inc.
		CENTRAL INDEX KEY:			0001671584
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		ORGANIZATION NAME:           	03 Life Sciences
		EIN:				811567056
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SCHEDULE 13G
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-89584
		FILM NUMBER:		251065024

	BUSINESS ADDRESS:	
		STREET 1:		2401 4TH AVE.
		STREET 2:		SUITE 1050
		CITY:			SEATTLE
		STATE:			WA
		ZIP:			98121
		BUSINESS PHONE:		206-838-0500

	MAIL ADDRESS:	
		STREET 1:		2401 4TH AVE.
		STREET 2:		SUITE 1050
		CITY:			SEATTLE
		STATE:			WA
		ZIP:			98121

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			L1 Capital Global Opportunities Master Fund, Ltd.
		CENTRAL INDEX KEY:			0001702202
		ORGANIZATION NAME:           	
		EIN:				981241877
		STATE OF INCORPORATION:			E9
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SCHEDULE 13G

	BUSINESS ADDRESS:	
		STREET 1:		161A SHEDDEN ROAD ONE ARTILLERY COURT
		STREET 2:		P.O. BOX 10085
		CITY:			GRAND CAYMAN
		STATE:			E9
		ZIP:			KY1-1001
		BUSINESS PHONE:		646-688-5654

	MAIL ADDRESS:	
		STREET 1:		161A SHEDDEN ROAD ONE ARTILLERY COURT
		STREET 2:		P.O. BOX 10085
		CITY:			GRAND CAYMAN
		STATE:			E9
		ZIP:			KY1-1001
</SEC-HEADER>
<DOCUMENT>
<TYPE>SCHEDULE 13G
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
<XML>
<?xml version="1.0" encoding="UTF-8"?><edgarSubmission xmlns="http://www.sec.gov/edgar/schedule13g" xmlns:com="http://www.sec.gov/edgar/common">
  <headerData>
    <submissionType>SCHEDULE 13G</submissionType>
    <filerInfo>
      <filer>
        <filerCredentials>
          <!-- Field: Pseudo-Tag; ID: Name; Data: L1 Capital Global Opportunities Master Fund, Ltd. -->
          <cik>0001702202</cik>
          <ccc>XXXXXXXX</ccc>
        </filerCredentials>
      </filer>
      <liveTestFlag>LIVE</liveTestFlag>



    </filerInfo>
  </headerData>
  <formData>
    <coverPageHeader>
      <securitiesClassTitle>Common Stock</securitiesClassTitle>
      <eventDateRequiresFilingThisStatement>06/18/2025</eventDateRequiresFilingThisStatement>
      <issuerInfo>
        <issuerCik>0001671584</issuerCik>
        <issuerName>Aptevo Therapeutics Inc.</issuerName>
        <issuerCusip>03835L504</issuerCusip>
        <issuerPrincipalExecutiveOfficeAddress>
          <com:street1>2401 4th Avenue, Suite 1050</com:street1>
          <com:city>Seattle</com:city>
          <com:stateOrCountry>WA</com:stateOrCountry>
          <com:zipCode>98121</com:zipCode>
        </issuerPrincipalExecutiveOfficeAddress>
      </issuerInfo>
      <designateRulesPursuantThisScheduleFiled>
        <designateRulePursuantThisScheduleFiled>Rule 13d-1(c)</designateRulePursuantThisScheduleFiled>
      </designateRulesPursuantThisScheduleFiled>
    </coverPageHeader>
    <coverPageHeaderReportingPersonDetails>


      <reportingPersonName>L1 Capital Global Opportunities Master Fund, Ltd.</reportingPersonName>
      <citizenshipOrOrganization>E9</citizenshipOrOrganization>
      <reportingPersonBeneficiallyOwnedNumberOfShares>
        <soleVotingPower>285000.00</soleVotingPower>
        <sharedVotingPower>0.00</sharedVotingPower>
        <soleDispositivePower>285000.00</soleDispositivePower>
        <sharedDispositivePower>0.00</sharedDispositivePower>
      </reportingPersonBeneficiallyOwnedNumberOfShares>
      <reportingPersonBeneficiallyOwnedAggregateNumberOfShares>285000.00</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
      <aggregateAmountExcludesCertainSharesFlag>N</aggregateAmountExcludesCertainSharesFlag>
      <classPercent>9.95</classPercent>
      <typeOfReportingPerson>FI</typeOfReportingPerson>
    </coverPageHeaderReportingPersonDetails>
    <items>
      <item1>
        <issuerName>Aptevo Therapeutics Inc.</issuerName>
        <issuerPrincipalExecutiveOfficeAddress>2401 4th Avenue, Suite 1050, Seattle, WA 98121</issuerPrincipalExecutiveOfficeAddress>
      </item1>
      <item2>
        <filingPersonName>L1 Capital Global Opportunities Master Fund, Ltd.</filingPersonName>
        <principalBusinessOfficeOrResidenceAddress>161A Shedden Road, 1 Artillery Court,
PO Box 10085
Grand Cayman, Cayman Islands KY1-1001</principalBusinessOfficeOrResidenceAddress>
        <citizenship>Cayman Islands</citizenship>
      </item2>
      <item3>
        <notApplicableFlag>Y</notApplicableFlag>
      </item3>
      <item4>
        <amountBeneficiallyOwned>285,000

The amounts in Row (5), (7) and (9) represent 285,000 shares of Common Stock. The amounts do not include 1,489,375 Warrants, 12,875 Pre-funded Warrants and 20,000 Warrants purchased on April 25, 2025, each of which are subject to a 4.99% beneficial ownership limitation. The percentage set forth on Row (11) of the cover page for the reporting person is based on 2,864,156 Common Stock outstanding immediately after the offering (assuming no exercise of the pre-funded warrants nor exercise of the common warrants), based on the Issuer's Prospectus filed under Rule 424(b)(4) with the Securities and Exchange Commission on June 20, 2025.

David Feldman and Joel Arber are the Directors of L1 Capital Global Opportunities Master Fund, Ltd. As such, L1 Capital Global Opportunities Master Fund, Ltd., Mr. Feldman, and Mr. Arber may be deemed to beneficially own (as that term is defined in Rule 13d-3 under the Securities Exchange Act of 1934) the issuer's securities described herein. To the extent Mr. Feldman and Mr. Arber are deemed to beneficially own such securities, Mr. Feldman and Mr. Arber disclaim beneficial ownership of these securities for all other purposes.</amountBeneficiallyOwned>
        <classPercent>9.95%</classPercent>
        <numberOfSharesPersonHas>
          <solePowerOrDirectToVote>285,000</solePowerOrDirectToVote>
          <sharedPowerOrDirectToVote>0</sharedPowerOrDirectToVote>
          <solePowerOrDirectToDispose>285,000</solePowerOrDirectToDispose>
          <sharedPowerOrDirectToDispose>0</sharedPowerOrDirectToDispose>
        </numberOfSharesPersonHas>
      </item4>
      <item5>
        <notApplicableFlag>Y</notApplicableFlag>
      </item5>
      <item6>
        <notApplicableFlag>Y</notApplicableFlag>
      </item6>
      <item7>
        <notApplicableFlag>Y</notApplicableFlag>
      </item7>
      <item8>
        <notApplicableFlag>Y</notApplicableFlag>
      </item8>
      <item9>
        <notApplicableFlag>Y</notApplicableFlag>
      </item9>
      <item10>
        <notApplicableFlag>N</notApplicableFlag>
        <certifications>By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.</certifications>
      </item10>
    </items>
    <signatureInformation>
      <reportingPersonName>L1 Capital Global Opportunities Master Fund, Ltd.</reportingPersonName>
      <signatureDetails>
        <signature>/s/ David Feldman</signature>
        <title>David Feldman, Director</title>
        <date>06/23/2025</date>
      </signatureDetails>
    </signatureInformation>
  </formData>
</edgarSubmission>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
