SCHEDULE 13G/A 0002050709-25-000003 0002050709 XXXXXXXX LIVE 2 Common Stock ($.001 par value) 12/31/2025 0001553643 RELMADA THERAPEUTICS, INC. 75955J402 2222 PONCE DE LEON BLVD. 3RD FLOOR CORAL GABLES FL 33134 Rule 13d-1(b) Squadron Master Fund LP DE 0.00 7395510.00 0.00 7395510.00 7395510.00 9.9 PN Squadron Capital Management LLC DE 0.00 7395510.00 0.00 7395510.00 7395510.00 9.9 IA HC William Blank X1 0.00 7395510.00 0.00 7395510.00 7395510.00 9.9 HC IN Matthew Sesterhenn X1 0.00 7395510.00 0.00 7395510.00 7395510.00 9.9 HC IN RELMADA THERAPEUTICS, INC. 2222 PONCE DE LEON BLVD. 3RD FLOOR, CORAL GABLES, FLORIDA, 33134. Squadron Master Fund LP Squadron Capital Management, LLC William Blank Matthew Sesterhenn Squadron Master Fund LP c/o Squadron Capital Management, LLC 999 Oakmont Plaza Drive, Suite 600 Westmont, IL 60559 Squadron Capital Management, LLC 999 Oakmont Plaza Drive, Suite 600 Westmont, IL 60559 William Blank c/o Squadron Capital Management, LLC 999 Oakmont Plaza Drive, Suite 600 Westmont, IL 60559 Matthew Sesterhenn c/o Squadron Capital Management, LLC 999 Oakmont Plaza Drive, Suite 600 Westmont, IL 60559 Squadron Master Fund LP - Delaware Squadron Capital Management, LLC - Delaware William Blank - United States Matthew Sesterhenn - United States N IA HC Squadron Capital Management, LLC is an investment adviser that is registered as an Exempt Reporting Adviser with the Securities and Exchange Commission. Squadron Capital Management, LLC, which serves as investment adviser to private funds, including but not limited to Squadron Master Fund LP (collectively, the "Funds"), may be deemed to be the beneficial owner of all shares of Common Stock held by the Funds. Mr. Blank and Mr. Sesterhenn, as Partners of Squadron Capital Management, LLC, with the power to exercise investment and voting discretion, may be deemed to be the beneficial owners of all shares of Common Stock held by the Funds. Pursuant to Rule 13d-4 under the Securities Exchange Act of 1934, as amended, Squadron Capital Management, LLC, Mr. Blank and Mr. Sesterhenn expressly disclaim beneficial ownership over any of the securities reported in this statement, and the filing of this statement shall not be construed as an admission that Squadron Capital Management, LLC, Mr. Blank or Mr. Sesterhenn are the beneficial owners of any of the securities reported herein. This amount comprises beneficial ownership of 7,395,510 shares of Common Stock which consists of (i) 6,700,000 shares of Common Stock and (ii) 695,510 shares issuable upon exercise of warrants held by Squadron Capital Management LLC (the "Warrants"). Squadron Master Fund LP - 7,395,510 shares Squadron Capital Management, LLC - 7,395,510 shares William Blank - 7,395,510 shares Matthew Sesterhenn - 7,395,510 shares All such shares of Common Stock in the aggregate represent beneficial ownership of approximately 9.99% of the Common Stock based on (i) 73,333,622 shares of Common Stock outstanding as of November 10, 2025 as represented in the Form 10-Q filed by the Issuer with the Securities and Exchange Commission ("SEC") on November 13, 2025, plus (ii) 695,510 shares of Common Stock issuable upon the exercise of the Warrants. Squadron Master Fund LP - 9.99% Squadron Capital Management, LLC - 9.99% William Blank - 9.99% Matthew Sesterhenn - 9.99% Squadron Master Fund LP - 0 Squadron Capital Management, LLC - 0 William Blank - 0 Matthew Sesterhenn - 0 Squadron Master Fund LP - 7,395,510 shares Squadron Capital Management, LLC - 7,395,510 shares William Blank - 7,395,510 shares Matthew Sesterhenn - 7,395,510 shares Squadron Master Fund LP - 0 Squadron Capital Management, LLC - 0 William Blank - 0 Matthew Sesterhenn - 0 Squadron Master Fund LP - 7,395,510 shares Squadron Capital Management, LLC - 7,395,510 shares William Blank - 7,395,510 shares Matthew Sesterhenn - 7,395,510 shares Y N The Funds have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the shares of Common Stock covered by this Statement. N See Note above. Y Y N By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and 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. Squadron Master Fund LP /s/ Matthew Sesterhenn 02/17/2026 Squadron Capital Management LLC /s/ Matthew Sesterhenn 02/17/2026 William Blank /s/ William Blank 02/17/2026 Matthew Sesterhenn /s/ Matthew Sesterhenn 02/17/2026