---
schema_version: "secwatch.filing_event.v1"
accession: "0000320017-26-000006"
form_type: "8-K"
ticker: "LSTA"
cik: "0000320017"
company_name: "LISATA THERAPEUTICS, INC."
filed_at: "2026-01-21T23:59:59+00:00"
generated_at: "2026-05-16T09:22:34.837406+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Lisata to be acquired by Kuva Labs for $4.00 cash/share + up to $2 CVRs; ~85% premium

## Summary
- All-cash tender offer at $4.00/share plus two non-tradeable CVRs worth up to $2/share tied to certepetide milestones.
- Cash portion represents ~85% premium over last close; total potential consideration ~180% premium.
- Kuva has committed financing and will not condition offer on funding; break fee of $2 million for certain failures.
- Definitive purchase agreement targeted by Feb 27, 2026; boards of both companies unanimously approved term sheet.
- Rollover shares may be contributed to Kuva in exchange for equity, and standstill restricts Kuva for 12 months.

## SEC filing metadata
- accession: 0000320017-26-000006
- form_type: 8-K
- ticker: LSTA
- cik: 0000320017
- company_name: LISATA THERAPEUTICS, INC.
- filed_at: 2026-01-21T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 1.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/320017/000032001726000006/0000320017-26-000006-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/320017/000032001726000006/clbs-20260120.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000320017-26-000006
- JSON: https://secwatch.observer/filing/0000320017-26-000006.json
- Plain text: https://secwatch.observer/filing/0000320017-26-000006.txt

## Source-grounded claims
- claim_id: fbde7707ff1dade464f7385867011613119b7025
  claim: LISATA THERAPEUTICS, INC. entered into Binding Term Sheet with Kuva Labs Inc. valued at $4.00 per share in cash plus two contingent value rights (CVRs) totaling up to $2.00 per share (effective 2026-01-20).
  evidence_excerpt: On January 20, 2026, Lisata Therapeutics, Inc., a Delaware corporation (the “ Company ” or “ Lisata ”), entered into a binding term sheet (the “ Term Sheet ”) with Kuva Labs Inc., a Delaware corporation (“ Kuva ”), pursuant to which Kuva and Lisata agreed to negotiate in good faith and enter into a customary purchase agreement to consummate a negotiated acquisition of Lisata by Kuva (the “ Purchase Agreement ”) whereby Kuva will commence a tender offer to purchase, on a fully-diluted basis, all of the outstanding shares of common stock of Lisata (the “ Shares ”) at a price of $4.00 per Share in cash (the “ Offer ”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/320017/000032001726000006/0000320017-26-000006-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.