FORM 4
☐

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person *
Bleichroeder LP
 2. Issuer Name and Ticker or Trading Symbol
LIQTECH INTERNATIONAL INC [LIQT] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director __X__ 10% Owner
_____ Officer (give title below) _____ Other (specify below)
(Last)
(First)
(Middle)

1345 AVENUE OF THE AMERICAS, 47TH FLOOR		 3. Date of Earliest Transaction (Month/Day/Year)
03/26/2025
(Street)

NEW YORK, NY 10105
(City)
(State)
(Zip)
4. If Amendment, Date Original Filed(Month/Day/Year)
6. Individual or Joint/Group Filing
(Check applicable line)

__X__ Form Filed by One Reporting Person
_____ Form Filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.Title of Security (Instr. 3)

2. Transaction Date (Month/Day/Year)

2A. Deemed Execution Date, if any (Month/Day/Year)

3. Transaction Code (Instr. 8)

4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)

5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)

6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)

7. Nature of Indirect Beneficial Ownership (Instr. 4)

Code

V

Amount

(A) or (D)

Price



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

1. Title of Derivative Security
(Instr. 3)

2. Conversion or Exercise Price of Derivative Security

3. Transaction Date (Month/Day/Year)

3A. Deemed Execution Date, if any (Month/Day/Year)

4. Transaction Code
(Instr. 8)

5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5)

6. Date Exercisable and Expiration Date (Month/Day/Year)

7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)

8. Price of Derivative Security (Instr. 5)

9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)

10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)

11. Nature of Indirect Beneficial Ownership (Instr. 4)

Code

V

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

Warrants to Purchase Common Stock

 $5.2 (1) 03/26/2025 J (1)   531,25006/22/202206/22/2027

Common Stock

531,250 (1) 0 I

See footnote (2)

Warrants to Purchase Common Stock

 $2 (1) 03/26/2025 J (1)  531,250 03/26/202512/31/2029

Common Stock

531,250 (1) 531,250I

See footnote (2)


Explanation of Responses:
1.

On March 26, 2025, LiqTech International, Inc. and Bleichroeder LP, investment adviser to 21 April Fund, Ltd. and 21 April Fund, LP, agreed to amend (x) those certain 531,250 warrants to acquire Common Stock at an exercise price of $5.20 per share and having an expiration date of June 22, 2027 to (i) amend the exercise price to $2.00 per share and (ii) extend the expiration date to December 31, 2029.

2.

This form is filed by Bleichroeder LP. The securities reported herein are directly held by 21 April Fund, Ltd. and 21 April Fund, LP. Bleichroeder LP serves as registered investment adviser to 21 April Fund, Ltd., 21 April Fund, LP and other managed accounts. Bleichroeder LP disclaims beneficial ownership of these securities except to the extent of their pecuniary interest therein, and this report shall not be deemed an admission that Bleichroeder LP is the beneficial owner of the securities for purposes of Section 16 or for any other purposes.



Signatures

Andrew Gundlach, Chairman and CEO of Bleichroeder LP

03/28/2025
** Signature of Reporting PersonDate
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