---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-063162"
form_type: "8-K"
ticker: "IRWD"
cik: "0001446847"
company_name: "IRONWOOD PHARMACEUTICALS INC"
filed_at: "2023-05-22T23:59:59+00:00"
generated_at: "2026-06-14T18:11:08.224958+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Ironwood to acquire VectivBio for $17.00/share; secures $500M credit facility

## Summary
- Cash tender offer at $17.00/share for all VectivBio shares; minimum tender condition >80%.
- Termination fees: VectivBio pays $23.68M if superior proposal; Ironwood pays $59.2M reverse fee.
- $500M revolving credit facility from Wells Fargo; matures 2027; secured by substantially all assets.
- Support agreement with shareholders owning ~28.6% of VectivBio shares agreeing to tender and vote.
- VectivBio shareholders must remove voting cap and elect Ironwood designees to board.

## SEC filing metadata
- accession: 0001104659-23-063162
- form_type: 8-K
- ticker: IRWD
- cik: 0001446847
- company_name: IRONWOOD PHARMACEUTICALS INC
- filed_at: 2023-05-22T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 1.01, 2.03, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1446847/000110465923063162/0001104659-23-063162-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1446847/000110465923063162/tm2316415d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-063162
- JSON: https://secwatch.observer/filing/0001104659-23-063162.json
- Plain text: https://secwatch.observer/filing/0001104659-23-063162.txt

## Key facts
- Debt Financings
  IRONWOOD PHARMACEUTICALS INC incurred revolving credit.
  - Instrument: revolving credit
  - Event: incurrence
  source text: The information included under Item 1.01 above under the heading "Revolving Credit Agreement" is incorporated herein by reference.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1446847/000110465923063162/0001104659-23-063162-index.htm
- Material Agreements
  IRONWOOD PHARMACEUTICALS INC entered into Transaction Agreement with VectivBio Holding AG (effective 2023-05-21).
  - Action: entry
  - Agreement: merger
  - Counterparty: VectivBio Holding AG
  - Effective: 2023-05-21
  source text: On May 21, 2023, Ironwood Pharmaceuticals, Inc., a Delaware corporation (“Ironwood”), entered into a Transaction Agreement (the “Transaction Agreement”) with VectivBio Holding AG
  evidence_url: https://www.sec.gov/Archives/edgar/data/1446847/000110465923063162/0001104659-23-063162-index.htm

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