---
schema_version: "secwatch.filing_event.v1"
accession: "0001140361-26-017656"
form_type: "8-K"
ticker: "KALV"
cik: "0001348911"
company_name: "KalVista Pharmaceuticals, Inc."
filed_at: "2026-04-29T23:59:59+00:00"
generated_at: "2026-05-15T01:38:11.273227+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.9
calibrated_materiality_score: 0.9
confidence: "high"
source: SEC EDGAR
---

# Chiesi Group to acquire KalVista Pharmaceuticals for $27.00 per share, ~$1.9bn

## Summary
- Chiesi will acquire all KalVista shares for $27.00/sh cash, a 36% premium to 30-day VWAP as of April 28, 2026.
- Total equity consideration approximately $1.9bn; transaction expected to close in Q3 2026 subject to regulatory approvals and majority tender.
- KalVista's key asset is EKTERLY (sebetralstat), first oral on-demand HAE therapy; US launch in July 2025 generated $49M in 2025 sales.
- Termination fee of $66.4M payable by KalVista if it accepts a superior offer; transaction not subject to financing condition.
- Both companies' boards unanimously approved the merger; KalVista board recommends stockholders tender shares.

## SEC filing metadata
- accession: 0001140361-26-017656
- form_type: 8-K
- ticker: KALV
- cik: 0001348911
- company_name: KalVista Pharmaceuticals, Inc.
- filed_at: 2026-04-29T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.9
- calibrated_materiality_score: 0.9
- confidence: high
- sec_items: 1.01, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1348911/000114036126017656/0001140361-26-017656-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1348911/000114036126017656/ef20071670_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001140361-26-017656
- JSON: https://secwatch.observer/filing/0001140361-26-017656.json
- Plain text: https://secwatch.observer/filing/0001140361-26-017656.txt

## Source-grounded claims
- claim_id: 3d2fef7c60eeef6e50dd14e9cd29c391adc390bd
  claim: KalVista Pharmaceuticals, Inc. entered into Agreement and Plan of Merger with Chiesi Farmaceutici S.p.A. valued at $27.00 per Share (effective 2026-04-29).
  evidence_excerpt: On April 29, 2026, KalVista Pharmaceuticals, Inc., a Delaware corporation (the " Company "), entered into an Agreement and Plan of Merger (the " Merger Agreement "), by and among the Company, Chiesi Farmaceutici S.p.A., an Italian società per azioni (" Parent "), Skyline Merger Sub, Inc., a Delaware corporation and a wholly owned subsidiary of Parent (" Purchaser "), and KalVista Pharmaceuticals Limited, a private limited company organized under the laws of England and Wales.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1348911/000114036126017656/0001140361-26-017656-index.htm

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