8-K
filed October 22, 2024, 7:59 PM ET
ticker IRD
CIK 0001228627
M&A
confidence high
sentiment neutral
materiality 0.90
Opus Genetics, Inc. (IRD): M&A transaction — Ocuphire completes merger with Opus Genetics; renamed Opus Genetics with $37M pro forma cash
Opus Genetics, Inc.
- Merger closed Oct 22; Ocuphire issued ~5.24M common shares and 14,145 Series A Preferred (convertible into ~14.1M common) to Opus securityholders.
- Pro forma cash ~$37M as of Sep 30, 2024; cash runway expected into 2026.
- Name changed to Opus Genetics, Inc. effective Oct 23; ticker begins trading as 'IRD' on Oct 24, 2024.
- Dr. Benjamin Yerxa appointed President; base salary $425,000, 35% target bonus, 332,800 RSUs; Board expanded to 9.
- 180-day lock-up agreements on shares held by certain stockholders and all directors/officers.
Key facts
Extracted from this filing and checked against the source text.
Executive change
SEC 8-K Item 5.02
confidence 0.95
Benjamin R. Yerxa was appointed as President at Opus Genetics, Inc..
- Action
- appointed
- Role
- President
Exact text from the filing
Dr. Yerxa, age 58, has also been appointed to serve as Ocuphire’s President, effective October 22, 2024.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Benjamin R. Yerxa was appointed as Director at Opus Genetics, Inc..
- Action
- appointed
- Role
- Director
Exact text from the filing
Dr. Benjamin R. Yerxa, Ph.D., Dr. Jean Bennett, Ph.D., M.D., and Dr. Adrienne Graves, Ph.D., were appointed as members of the Board
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Jean Bennett was appointed as Director at Opus Genetics, Inc..
- Action
- appointed
- Role
- Director
Exact text from the filing
Dr. Benjamin R. Yerxa, Ph.D., Dr. Jean Bennett, Ph.D., M.D., and Dr. Adrienne Graves, Ph.D., were appointed as members of the Board
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Jay Pepose resigned as Director at Opus Genetics, Inc..
- Action
- resigned
- Role
- Director
Exact text from the filing
Dr. Jay Pepose resigned from the Board, effective immediately after the time of the filing of the First Merger Certificate of Merger
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Adrienne Graves was appointed as Director at Opus Genetics, Inc..
- Action
- appointed
- Role
- Director
Exact text from the filing
Dr. Benjamin R. Yerxa, Ph.D., Dr. Jean Bennett, Ph.D., M.D., and Dr. Adrienne Graves, Ph.D., were appointed as members of the Board
View on SEC.gov
Governance Changes
SEC 8-K Item 5.03/5.05/5.06
confidence 0.9
Opus Genetics, Inc.: Amended the Restated Certificate of Incorporation to change the corporate name to Opus Genetics, Inc., effective October 23, 2024, and updated the Bylaws accordingly (effective 2024-10-23).
- Change
- bylaw amendment
- Effective
- 2024-10-23
Exact text from the filing
Corporate Name Change to Opus Genetics, Inc. On October 22, 2024, following the Merger, Ocuphire filed an amendment to its Restated Certificate of Incorporation to change its name to “Opus Genetics, Inc.”, effective October 23, 2024.
View on SEC.gov
Governance Changes
SEC 8-K Item 5.03/5.05/5.06
confidence 0.9
Opus Genetics, Inc.: Filed a Certificate of Designation for Series A Non-Voting Convertible Preferred Stock, establishing the preferences, rights, and limitations of the new series (effective 2024-10-22).
- Change
- charter amendment
- Effective
- 2024-10-22
Exact text from the filing
Series A Preferred Stock On October 22, 2024, Ocuphire filed a Certificate of Designation of Preferences, Rights and Limitations of the Series A Non-Voting Convertible Preferred Stock with the Secretary of State of the State of Delaware (the “ Certificate of Designation ”) in connection with the Merger referenced in Item 1.01 above.
View on SEC.gov
M&A Transactions
SEC 8-K Item 2.01/5.01
confidence 0.9
Opus Genetics, Inc. completed an acquisition involving Opus Genetics Inc. (closed 2024-10-22).
- Action
- acquisition
- Counterparty
- Opus Genetics Inc.
- Closing
- 2024-10-22
Exact text from the filing
On October 22, 2024, Ocuphire completed its business combination with Opus.
View on SEC.gov
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