---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-25-102971"
form_type: "8-K"
ticker: null
cik: "0001827506"
company_name: "Tourmaline Bio, Inc."
filed_at: "2025-10-28T23:59:59+00:00"
generated_at: "2026-05-17T01:58:47.911458+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 1.0
calibrated_materiality_score: 1.0
confidence: "high"
source: SEC EDGAR
---

# Tourmaline Bio acquired by Novartis for $48/share; stock to be delisted

## Summary
- Tender offer completed with 92.94% of shares tendered (24,030,382 shares).
- Merger effected under DGCL Section 251(h); all remaining shares converted to $48 cash each.
- All outstanding stock options and RSUs cashed out at same per-share value.
- All prior directors and officers resigned; Novartis appointees John McKenna and Eduard Marti now lead.
- Stock to be delisted from Nasdaq; deregistration to follow.

## SEC filing metadata
- accession: 0001104659-25-102971
- form_type: 8-K
- cik: 0001827506
- company_name: Tourmaline Bio, Inc.
- filed_at: 2025-10-28T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 1.0
- calibrated_materiality_score: 1.0
- confidence: high
- sec_items: 1.02, 2.01, 3.01, 5.01, 5.03, 3.03, 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1827506/000110465925102971/0001104659-25-102971-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1827506/000110465925102971/tm2529486d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-25-102971
- JSON: https://secwatch.observer/filing/0001104659-25-102971.json
- Plain text: https://secwatch.observer/filing/0001104659-25-102971.txt

## Key facts
- Governance Changes
  Tourmaline Bio, Inc.: Certificate of incorporation amended and restated in its entirety pursuant to Merger Agreement.
  - Change: charter amendment
  source text: the certificate of incorporation of the Company (the “ Certificate of Incorporation ”) was amended and restated in its entirety
  evidence_url: https://www.sec.gov/Archives/edgar/data/1827506/000110465925102971/0001104659-25-102971-index.htm
- Governance Changes
  Tourmaline Bio, Inc.: Bylaws amended and restated in their entirety pursuant to Merger Agreement.
  - Change: bylaw amendment
  source text: the Company’s bylaws (the “ Bylaws ”) were amended and restated in their entirety
  evidence_url: https://www.sec.gov/Archives/edgar/data/1827506/000110465925102971/0001104659-25-102971-index.htm

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