{"schema_version":"secwatch.filing_event.v1","accession":"0001104659-26-032166","form_type":"8-K","ticker":"COLL","cik":"0001267565","company_name":"COLLEGIUM PHARMACEUTICAL, INC","filed_at":"2026-03-19T23:59:59+00:00","discovered_at":"2026-05-14T18:02:34.682281+00:00","generated_at":"2026-05-15T09:35:05.160070+00:00","sec_items":["1.01","7.01","9.01"],"event_type":"m_and_a","sentiment":"positive","materiality_score":0.85,"calibrated_materiality_score":0.85,"confidence":"high","headline":"Collegium to acquire AZSTARYS for $650M cash; expected to close Q2 2026","bullets":["Acquisition of AZSTARYS (ADHD treatment) for $650M cash, plus up to $135M in commercial and regulatory milestones.","Funding from cash on hand and a $300M delayed draw term loan at SOFR + 3.25% interest rate.","AZSTARYS expected to generate over $50M in second half 2026 pro forma net revenue.","Transaction expected to be immediately accretive to adjusted EBITDA; net leverage ~2x as of closing.","Patent protection into 2037; closing expected Q2 2026 subject to HSR and customary conditions."],"urls":{"canonical":"https://secwatch.observer/filing/0001104659-26-032166","json":"https://secwatch.observer/filing/0001104659-26-032166.json","markdown":"https://secwatch.observer/filing/0001104659-26-032166.md","text":"https://secwatch.observer/filing/0001104659-26-032166.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1267565/000110465926032166/0001104659-26-032166-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1267565/000110465926032166/tm269336d1_8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-15T09:35:05.160070+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":[],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}