Sesen Bio raises special dividend to $75M, extends CVR through 2027; activist investors back merger

Carisma Therapeutics Inc.

Special cash dividend increased to $75M ($0.36/share) from prior ~$70M; up from original $25M.
CVR period for Vicineum proceeds extended from Dec 31, 2023 to March 31, 2027.
Bradley Radoff and Michael Torok (8.7% stake) vote for merger; Torok to join Carisma board.
Special meeting to approve merger set for March 2, 2023; closing expected Q1 2023.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Carisma Therapeutics Inc. amended Second Amendment to the Merger Agreement with Sesen Bio, Inc., Seahawk Merger Sub, Inc., and CARISMA Therapeutics Inc. (effective 2023-02-13).

Action: amendment
Agreement: merger
Counterparty: Sesen Bio, Inc., Seahawk Merger Sub, Inc., and CARISMA Therapeutics Inc.
Effective: 2023-02-13

Exact text from the filing

On February 13, 2023, Sesen Bio, Merger Sub and Carisma entered into the Second Amendment to the Merger Agreement (the “Second Amendment”).

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Carisma Therapeutics Inc. filing history →

Source: SEC EDGAR

accession 0001104659-23-020879

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