secwatch / observer
8-K filed October 31, 2023, 7:59 PM ET CIK 0001805087
other material confidence high sentiment negative materiality 1.00

GELESIS HOLDINGS, INC.: going-concern / distress — Gelesis Holdings files for Chapter 7 bankruptcy, ceases operations, all directors & officers resign

GELESIS HOLDINGS, INC.

item 1.03item 5.02item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Departed

Kathryn Cavanaugh

Director
GELESIS HOLDINGS, INC.
Effective
2023-10-30
Filed
October 31, 2023, 7:59 PM ET
Concurrent with the Bankruptcy Filing, on October 30, 2023, directors Paul Fonteyne (Chair), Alison Bauerlein, Kathryn Cavanaugh, Clayton Christopher, Jane Wildman and Yishai Zohar resigned as members of the Company's Board of Directors.
Departed

David Pass

Chief Operating Officer
GELESIS HOLDINGS, INC.
Effective
2023-10-30
Filed
October 31, 2023, 7:59 PM ET
Concurrent with the Bankruptcy Filing, on October 30, 2023, Yishai Zohar, President, Chief Executive Officer, Interim Principal Financial Officer and Principal Accounting Officer, Treasurer, Chief Compliance Officer and Corporate Secretary, and David Pass, Chief Operating Officer and Chief Commercial Officer, tendered their resignations, effective October 30, 2023.
Departed

Alison Bauerlein

Director
GELESIS HOLDINGS, INC.
Effective
2023-10-30
Filed
October 31, 2023, 7:59 PM ET
Concurrent with the Bankruptcy Filing, on October 30, 2023, directors Paul Fonteyne (Chair), Alison Bauerlein, Kathryn Cavanaugh, Clayton Christopher, Jane Wildman and Yishai Zohar resigned as members of the Company's Board of Directors.
Departed

Jane Wildman

Director
GELESIS HOLDINGS, INC.
Effective
2023-10-30
Filed
October 31, 2023, 7:59 PM ET
Concurrent with the Bankruptcy Filing, on October 30, 2023, directors Paul Fonteyne (Chair), Alison Bauerlein, Kathryn Cavanaugh, Clayton Christopher, Jane Wildman and Yishai Zohar resigned as members of the Company's Board of Directors.
Departed

Clayton Christopher

Director
GELESIS HOLDINGS, INC.
Effective
2023-10-30
Filed
October 31, 2023, 7:59 PM ET
Concurrent with the Bankruptcy Filing, on October 30, 2023, directors Paul Fonteyne (Chair), Alison Bauerlein, Kathryn Cavanaugh, Clayton Christopher, Jane Wildman and Yishai Zohar resigned as members of the Company's Board of Directors.
Departed

Yishai Zohar

President and Chief Executive Officer
GELESIS HOLDINGS, INC.
Effective
2023-10-30
Filed
October 31, 2023, 7:59 PM ET
Concurrent with the Bankruptcy Filing, on October 30, 2023, Yishai Zohar, President, Chief Executive Officer, Interim Principal Financial Officer and Principal Accounting Officer, Treasurer, Chief Compliance Officer and Corporate Secretary, and David Pass, Chief Operating Officer and Chief Commercial Officer, tendered their resignations, effective October 30, 2023.
Departed

Paul Fonteyne

Chair of the Board
GELESIS HOLDINGS, INC.
Effective
2023-10-30
Filed
October 31, 2023, 7:59 PM ET
Concurrent with the Bankruptcy Filing, on October 30, 2023, directors Paul Fonteyne (Chair), Alison Bauerlein, Kathryn Cavanaugh, Clayton Christopher, Jane Wildman and Yishai Zohar resigned as members of the Company's Board of Directors.

Key facts

Extracted from this filing and checked against the source text.

Distress & Bankruptcy SEC 8-K Item 1.03 confidence 0.9

GELESIS HOLDINGS, INC. entered chapter 7 in United States Bankruptcy Court for the District of Delaware (petition 2023-10-30).

Proceeding
chapter 7
Court
United States Bankruptcy Court for the District of Delaware
Petition
2023-10-30
Exact text from the filing
On October 30, 2023, after considering all strategic alternatives, Gelesis Holdings, Inc. (the "Company"), together with its U. S. subsidiaries, Gelesis, Inc., and Gelesis, LLC, ceased operations and filed a voluntary petition for relief under the provisions of Chapter 7 of Title 11 of the United States Code (the “Bankruptcy Code”) in the United States Bankruptcy Court for the District of Delaware Case No. 23-11787 (the “Bankruptcy Filing”).
View on SEC.gov
Executive change SEC 8-K Item 5.02 confidence 0.95

Kathryn Cavanaugh resigned as Director at GELESIS HOLDINGS, INC..

Action
resigned
Role
Director
Exact text from the filing
Concurrent with the Bankruptcy Filing, on October 30, 2023, directors Paul Fonteyne (Chair), Alison Bauerlein, Kathryn Cavanaugh, Clayton Christopher, Jane Wildman and Yishai Zohar resigned as members of the Company's Board of Directors.
View on SEC.gov
Executive change SEC 8-K Item 5.02 confidence 0.95

David Pass resigned as Chief Operating Officer at GELESIS HOLDINGS, INC..

Action
resigned
Role
Chief Operating Officer
Exact text from the filing
Concurrent with the Bankruptcy Filing, on October 30, 2023, Yishai Zohar, President, Chief Executive Officer, Interim Principal Financial Officer and Principal Accounting Officer, Treasurer, Chief Compliance Officer and Corporate Secretary, and David Pass, Chief Operating Officer and Chief Commercial Officer, tendered their resignations, effective October 30, 2023.
View on SEC.gov
Executive change SEC 8-K Item 5.02 confidence 0.95

Alison Bauerlein resigned as Director at GELESIS HOLDINGS, INC..

Action
resigned
Role
Director
Exact text from the filing
Concurrent with the Bankruptcy Filing, on October 30, 2023, directors Paul Fonteyne (Chair), Alison Bauerlein, Kathryn Cavanaugh, Clayton Christopher, Jane Wildman and Yishai Zohar resigned as members of the Company's Board of Directors.
View on SEC.gov
Executive change SEC 8-K Item 5.02 confidence 0.95

Jane Wildman resigned as Director at GELESIS HOLDINGS, INC..

Action
resigned
Role
Director
Exact text from the filing
Concurrent with the Bankruptcy Filing, on October 30, 2023, directors Paul Fonteyne (Chair), Alison Bauerlein, Kathryn Cavanaugh, Clayton Christopher, Jane Wildman and Yishai Zohar resigned as members of the Company's Board of Directors.
View on SEC.gov
Executive change SEC 8-K Item 5.02 confidence 0.95

Clayton Christopher resigned as Director at GELESIS HOLDINGS, INC..

Action
resigned
Role
Director
Exact text from the filing
Concurrent with the Bankruptcy Filing, on October 30, 2023, directors Paul Fonteyne (Chair), Alison Bauerlein, Kathryn Cavanaugh, Clayton Christopher, Jane Wildman and Yishai Zohar resigned as members of the Company's Board of Directors.
View on SEC.gov
Executive change SEC 8-K Item 5.02 confidence 0.95

Yishai Zohar resigned as President and Chief Executive Officer at GELESIS HOLDINGS, INC..

Action
resigned
Role
President and Chief Executive Officer
Exact text from the filing
Concurrent with the Bankruptcy Filing, on October 30, 2023, Yishai Zohar, President, Chief Executive Officer, Interim Principal Financial Officer and Principal Accounting Officer, Treasurer, Chief Compliance Officer and Corporate Secretary, and David Pass, Chief Operating Officer and Chief Commercial Officer, tendered their resignations, effective October 30, 2023.
View on SEC.gov
Executive change SEC 8-K Item 5.02 confidence 0.95

Paul Fonteyne resigned as Chair of the Board at GELESIS HOLDINGS, INC..

Action
resigned
Role
Chair of the Board
Exact text from the filing
Concurrent with the Bankruptcy Filing, on October 30, 2023, directors Paul Fonteyne (Chair), Alison Bauerlein, Kathryn Cavanaugh, Clayton Christopher, Jane Wildman and Yishai Zohar resigned as members of the Company's Board of Directors.
View on SEC.gov

Browse all distress & bankruptcy →

Source: SEC EDGAR
accession 0000950170-23-056517
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