Seres sells VOWST business to Nestlé for up to $100M cash plus milestones; issues $15M stock

Seres Therapeutics, Inc.

Cash payment of $100M at closing (net of ~$17.9M owed to Nestlé affiliate and ~CHF2M to Bacthera); $50M due Jan 2025, $25M July 2025.
Prepaid $60M milestone for $150M annual net sales; future milestones of $125M at $400M and $150M at $750M in sales.
Seres and Nestlé share 50/50 net profit/loss on VOWST in 2025 profit-sharing period.
Nestlé to purchase 14,285,715 shares at $1.05/share ($15M); Seres to register resale within 90 days.
Post-closing Seres to focus on SER-155 and other biotherapeutic candidates; stockholder vote required.

item 1.01 item 1.02 item 3.02 item 9.01

Machine-readable event card

schema_version: secwatch.filing_event.v1
accession: 0001140361-24-035951
form_type: 8-K
ticker: MCRB
cik: 0001609809
company_name: Seres Therapeutics, Inc.
filed_at: 2024-08-06T23:59:59+00:00
discovered_at: 2026-05-14T18:03:13.764076+00:00
generated_at: 2026-05-31T12:17:51.529816+00:00
sec_items: ["1.01", "1.02", "3.02", "9.01"]
event_type: m_and_a
sentiment: negative
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: high
secwatch_canonical_url: https://secwatch.observer/filing/0001140361-24-035951
json_url: https://secwatch.observer/filing/0001140361-24-035951.json
markdown_url: https://secwatch.observer/filing/0001140361-24-035951.md
text_url: https://secwatch.observer/filing/0001140361-24-035951.txt
edgar_index_url: https://www.sec.gov/Archives/edgar/data/1609809/000114036124035951/0001140361-24-035951-index.htm
edgar_primary_document_url: https://www.sec.gov/Archives/edgar/data/1609809/000114036124035951/ny20030749x1_8k.htm
generated_by_model: deepseek-v4-flash:cloud@v2
review_status: machine_generated
human_reviewed: false
corrected: false
correction_note: null
correction_timestamp: null
superseded_by: null

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