secwatch.observer — SEC 8-K summary
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Issuer:     Elicio Therapeutics, Inc. (ELTX)
CIK:        0001601485
Form:       8-K
Filed at:   2023-01-17T23:59:59+00:00
Accession:  0001140361-23-001714
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.80
Item codes: 1.01, 5.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Angion merges with Elicio in all-stock deal; Elicio holders to own 65.5% of combined company
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- Elicio stockholders will own 65.5% and Angion stockholders 34.5% of combined company on a fully-diluted basis.
- Combined company to focus on Elicio's ELI-002 therapeutic cancer vaccine targeting mKRAS-driven tumors, currently in Phase 1 trial.
- Angion committed up to $10M bridge loan to Elicio in two installments; merger expected to close in Q2 2023.
- Robert Connelly, CEO of Elicio, will be CEO of combined company; board will have 9 directors with 6 from Elicio and 3 from Angion.
- Angion adopted retention bonus plan for CEO and CBO, providing cash bonuses and accelerated equity vesting upon closing.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1601485/000114036123001714/0001140361-23-001714-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1601485/000114036123001714/ny20006674x1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001140361-23-001714

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer