{"schema_version":"secwatch.filing_event.v1","accession":"0001104659-23-088596","form_type":"8-K","ticker":"NVAX","cik":"0001000694","company_name":"NOVAVAX INC","filed_at":"2023-08-08T23:59:59+00:00","discovered_at":"2026-05-14T18:03:32.809996+00:00","generated_at":"2026-06-12T00:11:00.130926+00:00","sec_items":["1.01","1.02","3.02","9.01"],"event_type":"litigation","sentiment":"neutral","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"high","headline":"Novavax to pay $149.75M to SK bioscience, sells $84.5M in stock to settle dispute","bullets":["Settlement payment of $149.75M for canceled manufacturing statements of work; $130.4M due Aug 10, 2023.","Novavax issues 6.5M shares at $13.00 per share to SK for $84.5M gross proceeds, closing expected Aug 10.","SK gets exclusive South Korea license for COVID vaccine tech through Feb 2029; non-exclusive for Thailand/Vietnam through June 2028.","Net cash outflow of ~$65.25M after settlement payment and stock proceeds; $19.35M balance due Nov 15, 2023."],"urls":{"canonical":"https://secwatch.observer/filing/0001104659-23-088596","json":"https://secwatch.observer/filing/0001104659-23-088596.json","markdown":"https://secwatch.observer/filing/0001104659-23-088596.md","text":"https://secwatch.observer/filing/0001104659-23-088596.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1000694/000110465923088596/0001104659-23-088596-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1000694/000110465923088596/tm2323012d4_8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-12T00:11:00.130926+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"65526fcaeb6333f5990b9ba052d7bf4293770fa0","claim":"NOVAVAX INC entered into Settlement Agreement and General Release with SK bioscience Co., Ltd. valued at $149.75 million settlement payment (effective 2023-08-08).","evidence_excerpt":"On August 8, 2023, Novavax, Inc. (the “Company”) and SK bioscience Co., Ltd. (“SK”) entered into a Settlement Agreement and General Release (the “Settlement Agreement”) regarding mutual release by the parties of all claims arising from or in relation to certain statements of work canceled by the Company (as described below, the “Subject SOWs”) under the Development and Supply Agreement dated August 11, 2020 (“DSA”) and the Collaboration and License Agreement, dated February 12, 2021 as amended on December 23, 2021 and July 1, 2022 (“CLA”, collectively the “Business Agreements”), and other statements or work under the Business Agreements, in each case, in connection with the cessation of all drug substance and drug product manufacturing activity at SK for supply to the Company.","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1000694/000110465923088596/0001104659-23-088596-index.htm","confidence":0.95,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"settlement"},{"label":"Counterparty","value":"SK bioscience Co., Ltd."},{"label":"Value","value":"$149.75 million settlement payment"},{"label":"Effective","value":"2023-08-08"}],"fact_type":"material_agreement"},{"claim_id":"b0ff6aa5dfbb016f046dc5b080c83073dab5677e","claim":"NOVAVAX INC terminated Statement of Work No. 1 under the Collaboration and License Agreement with SK bioscience Co., Ltd. valued at Termination of Statement of Work No. 1 (effective 2023-08-08).","evidence_excerpt":"In connection with the parties’ entry into the Settlement Agreement, the Company and SK terminated Statement of Work No. 1 dated as of December 23, 2021 as amended to date.","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1000694/000110465923088596/0001104659-23-088596-index.htm","confidence":0.95,"family_label":"Material Agreements","details":[{"label":"Action","value":"termination"},{"label":"Agreement","value":"license"},{"label":"Counterparty","value":"SK bioscience Co., Ltd."},{"label":"Value","value":"Termination of Statement of Work No. 1"},{"label":"Effective","value":"2023-08-08"}],"fact_type":"material_agreement"},{"claim_id":"c9f954374993795176e5805ee58d14fbc8886d7f","claim":"NOVAVAX INC entered into Securities Subscription Agreement with SK bioscience Co., Ltd. valued at $84.5 million for 6,500,000 shares of common stock at $13.00 per share (effective 2023-08-08).","evidence_excerpt":"On August 8, 2023, the Company also entered into a Securities Subscription Agreement (the “Subscription Agreement”) with SK, pursuant to which the Company agreed to sell and issue to SK, in a private placement (the “Private Placement”), 6,500,000 shares of the Company’s common stock, par value $0.01 per share (the “Shares”) at a price of $13.00 per share for aggregate gross proceeds to the Company of approximately $84.5 million.","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1000694/000110465923088596/0001104659-23-088596-index.htm","confidence":0.95,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"equity purchase"},{"label":"Counterparty","value":"SK bioscience Co., Ltd."},{"label":"Value","value":"$84.5 million for 6,500,000 shares of common stock at $13.00 per share"},{"label":"Effective","value":"2023-08-08"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}