X0202 SCHEDULE 13D/A 0002154680 XXXXXXXX LIVE 1 Common Stock, par value $0.0001 per share 08/03/2026 false 0001583771 426897401 Hepion Pharmaceuticals, Inc.

Hepion Pharmaceuticals, Inc. 34 Shrewsbury Ave., Suite 1D Red Bank NJ 07701

Donald P. Kivowitz (214) 315-6318 c/o Kivowitz Investments, Inc. P.O. Box 2298 Victoria TX 77902 0002154680 N KI Holdings Ltd. WC N X1 10000000.00 0.00 10000000.00 0.00 10000000.00 N 10.2 OO Common Stock, par value $0.0001 per share Hepion Pharmaceuticals, Inc. Hepion Pharmaceuticals, Inc. 34 Shrewsbury Ave., Suite 1D Red Bank NJ 07701 This Statement is jointly filed by (i) Donald Kivowitz, a United States citizen and (ii) KI Holdings Ltd. (collectively, the "Reporting Persons"). The business address of the Reporting Persons is P.O. Box 2298, Victoria, TX 77902. Mr. Kivowitz is a business executive and investor and KI Holdings Ltd. is investment holding company. No No Mr. Kivowitz is a citizen of the United States of America. KI Holdings Ltd. was formed in Texas. On August 3, 2026, KI Holdings Ltd. acquired the securities described herein pursuant to that certain Securities Purchase Agreement, dated July 31, 2026 (the "Securities Purchase Agreement"), by and among Hepion Pharmaceuticals, Inc. and the purchasers party thereto. Pursuant to the Securities Purchase Agreement, KI Holdings Ltd. purchased 10,000,000 shares of Common Stock together with one warrant to purchase up to an additional 10,000,000 shares of Common Stock at an exercise price of $0.06 per share for an aggregate purchase price of $500,000. The purchase price was paid from KI Holdings Ltd.'s working capital. The warrant is immediately exercisable, subject to the Beneficial Ownership Limitation contained therein. Donald Kivowitz did not directly purchase the securities reported herein and may be deemed to beneficially own such securities solely by virtue of his relationship with KI Holdings Ltd. The Reporting Person acquired the securities for investment purposes. The Reporting Person intends to review its investment in the Issuer on a continuing basis. Depending upon market conditions, the Issuer's business, financial condition, prospects, general economic conditions and other factors deemed relevant, the Reporting Persons may acquire additional securities of the Issuer, dispose of some or all of its securities, or maintain its current investment position. Except as described herein, the Reporting Person does not presently have any plans or proposals that relate to or would result in any of the actions described in Items 4(a) through (j) of Item 4 of Schedule 13D. See response to Item 5(a) on the cover page for the Reporting Person. See responses to Item 5(b) on the cover page for the Reporting Person. On July 31, 2026, pursuant to the Securities Purchase Agreement. KI Holdings Ltd. acquired 10,000,000 shares of Common Stock together with one warrant to purchase, subject to the Beneficial Ownership Limitations contained therein, up to an additional 10,000,000 shares of Common Stock for an aggregate purchase price of $500,000 in a private placement. Except as described above, none of the Reporting Persons has effected any transaction in the Common Stock during the past sixty days. Not applicable. The information contained in Items 3, 4 and 5 is incorporated herein by reference. Other than as described herein, the Reporting Person does not have any contracts, arrangements, understandings or relationships with respect to the securities of the Issuer. KI Holdings Ltd. /s/ Donald Kivowitz 09/16/2026