Initial Statement of Beneficial Ownership (Form 3)

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940

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(Print or Type Responses)

1. Name and Address of Reporting Person * Daewoong Co., Ltd 2. Date of Event Requiring Statement (Month/Day/Year) 01/21/2026 3. Issuer Name and Ticker or Trading Symbol AEON Biopharma, Inc. [AEON] (Last) (First) (Middle) 244, GALMACHI-RO, JUNGWON-GU 4. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director __X__ 10% Owner _____ Officer (give title below) _____ Other (specify below) 5. If Amendment, Date Original Filed (Month/Day/Year) (Street) SEONGNAM-SI, GYEONGGI-DO, M5 13211 6. Individual or Joint/Group Filing (Check Applicable Line) _X_ Form filed by One Reporting Person ___ Form filed by More than One Reporting Person (City) (State) (Zip) Table I - Non-Derivative Securities Beneficially Owned

1.Title of Security (Instr. 4) 2. Amount of Securities Beneficially Owned (Instr. 4) 3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) 4. Nature of Indirect Beneficial Ownership (Instr. 5) Common Stock, $0.0001 par value per share 58,023 D Common Stock, $0.0001 par value per share 11,951,714(1)(2)(3) I Indirect Beneficial Ownership in the 11,951,714 owned by Daewoong Pharmaceutical Co., Ltd

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Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Senior Secured Convertible Note	01/21/2026	04/12/2030	Common Stock	$1,500,000(2)(3)	(2)(3)	I	See footnote(1)
Pre-Funded Warrants	01/21/2026	(4)	Common Stock	11,236,631	$0.0001(2)(3)	I	See footnote(1)
Common Stock Warrant	01/21/2026	(5)	Common Stock	8,000,000	$1.0939(2)(3)	I	See footnote(1)

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
Daewoong Co., Ltd 244, GALMACHI-RO, JUNGWON-GU SEONGNAM-SI, GYEONGGI-DO, M5 13211		X

Signatures

Daewoong Co., Ltd., By: /s/ Kyu Sung Lim, Authorized Signatory		01/23/2026
**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 5(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1)	Daewoong Co., Ltd. ("DWC"), a company organized under the laws of the Republic of Korea, owns 52% of the outstanding shares of Daewoong Pharmaceutical Co., Ltd. ("DWP"), a company organized under the laws of the Republic of Korea; DWC has voting and dispositive power over the securities held by DWP and, therefore, may be deemed to beneficially own such securities indirectly.
(2)	As previously disclosed on January 21, 2026, upon completion by AEON Biopharma Inc. (the "Company") of a bona-fide third-party financing for aggregate gross cash proceeds to the Company of at least $30.0 million (a "Qualified Financing"), the convertible notes shall automatically convert into a number of shares of Common Stock or Pre-Funded Warrants equal to: (i) one and three tenths (1.3) multiplied by (ii) the quotient of (a) the principal amount of the convertible notes and all accrued and unpaid interest to be converted divided by (b) the per share price of the common stock sold in the Qualified Financing, and warrants to purchase up to 8,000,000 shares of Common Stock at an exercise price of $1.09392 per share (the "Common Stock Warrant"), resulting in DWP beneficially owning more than 10% of the Issuer's outstanding Common Stock.
(3)	(continued from footnote [2]). As a result, DWC beneficially owns an aggregate of (i) 12,009,737 shares of Common Stock (including shares previously held). In addition, DWP received (ii) the New Convertible Note in the principal amount of $1,500,000, (iii) the Pre-Funded Warrants to purchase up to 11,236,631 shares of Common Stock, and (iv) the Common Stock Warrant to purchase up to 8,000,000 shares of Common Stock. DWC may be deemed to beneficially own indirectly the securities described in clauses (ii) through (iv) held by DWP.
(4)	The Pre-Funded Warrant is exercisable on or after the Original Issue Date and does not expire until exercised in full.
(5)	The Common Stock Warrant is exercisable on or after the Initial Exercise Date and expires at 5:00 p.m. (New York City time) on the Termination Date, as defined in the form of warrant filed as Exhibit 4.2 to the Company's Form 8-K filed with the SEC on November 12, 2025.

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