secwatch.observer — SEC 8-K summary
======================================

Issuer:     PRECISION BIOSCIENCES INC (DTIL)
CIK:        0001357874
Form:       8-K/A
Filed at:   2023-08-21T23:59:59+00:00
Accession:  0000950170-23-043555
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.75
Item codes: 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Precision BioSells CAR T manufacturing to Imugene for $8M cash and $13M convertible notes
--------------------------------------------------------------------------------

- Imugene acquired CAR T manufacturing infrastructure, including MCAT facility, for $8M cash and $13M in 1-year non-interest-bearing convertible notes.
- Pro forma net loss for H1 2023 reduced from $37M to $22M, reflecting discontinued CAR T operations.
- Precision granted Imugene exclusive license to develop/commercialize azer-cel and up to three additional CAR T candidates.
- Pro forma balance sheet shows $146M cash; convertible note receivable of $12M at estimated fair value.
- Transaction results in estimated $10M gain recorded in discontinued operations.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1357874/000095017023043555/0000950170-23-043555-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1357874/000095017023043555/dtil-20230815.htm
  HTML page:      https://secwatch.observer/filing/0000950170-23-043555

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer