Marker Therapeutics, Inc. (MRKR): M&A transaction — Marker Therapeutics completes $19M sale of manufacturing facilities to Cell Ready, exits manufacturing operations

Marker Therapeutics, Inc.

Completed disposition of manufacturing facilities and equipment to Cell Ready for $19M on June 26, 2023.
Transaction includes assignment of leases and sale of equipment; Cell Ready to offer employment to ~50 Marker employees.
Pro forma results show net loss per share improvement: Q1 2023 by $0.01, FY2022 by $1.18, FY2021 by $2.11.
Pro forma cash and cash equivalents increased to $25.2M from $6.4M as of March 31, 2023.
John Wilson, Marker board member, is CEO and sole member of Cell Ready, creating a related-party transaction.

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

Marker Therapeutics, Inc. completed a disposition involving Cell Ready, LLC for approximately $19.0 million (closed 2023-06-26).

Action: disposition
Counterparty: Cell Ready, LLC
Consideration: approximately $19.0 million
Closing: 2023-06-26

Exact text from the filing

Company completed the disposition of the Purchased Assets to Cell Ready pursuant to the Transaction. The aggregate consideration paid for the Purchased Assets was approximately $19.0 million. In connection with the Transaction, Cell Ready plans to make offers of employment to approximately 50 of the Company's employees currently employed in its manufacturing,

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Marker Therapeutics, Inc. filing history →

Source: SEC EDGAR

accession 0001104659-23-077074

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