Inhibrx Biosciences, Inc. (INBX): M&A transaction — Inhibrx Biosciences completes spin-off from RemainCo, lists 14.5M shares outstanding

Inhibrx Biosciences, Inc.

Completed spin-off on May 29, 2024; 92% of Inhibrx Biosciences shares distributed to RemainCo shareholders at 1:4 ratio.
As of May 30, 2024, 14,475,904 shares of common stock outstanding post-distribution.
Issued warrants for up to 991,849 shares at $0.0001 exercise price, no expiration; also issued 1,838 shares to Oxford Finance.
Entered registration rights agreement requiring filing of resale registration statement within 10 business days.
Entered employment agreements with CEO Lappe ($695,250 base), CFO Eckelman ($535,600), and CAO Deck ($460,100) with 12-month severance.

item 1.01 item 3.02 item 3.03 item 5.03 item 5.01 item 5.02 item 8.01 item 9.01

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

Inhibrx Biosciences, Inc. underwent a change of control involving Inhibrx, Inc. (closed 2024-05-29).

Action: change of control
Counterparty: Inhibrx, Inc.
Closing: 2024-05-29

Exact text from the filing

On May 29, 2024, Inhibrx, Inc., a Delaware corporation (“RemainCo”), completed the distribution of 92% of the issued and outstanding shares of common stock of its subsidiary, Inhibrx Biosciences, Inc., a Delaware corporation (the “Company”), to holders of shares of RemainCo’s common stock as of the distribution record date of May 17, 2024, on a pro rata basis (the “Distribution”), at a ratio of one share of the Company’s common stock for every four shares of RemainCo’s issued and outstanding common stock held on the distribution record date.

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Inhibrx Biosciences, Inc. filing history →

Source: SEC EDGAR

accession 0001104659-24-066645

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