secwatch.observer — SEC 8-K summary
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Issuer:     Apellis Pharmaceuticals, Inc. (APLS)
CIK:        0001492422
Form:       8-K
Filed at:   2022-08-02T23:59:59+00:00
Accession:  0001193125-22-210079
Event type: debt
Sentiment:  neutral
Materiality: 0.65
Item codes: 1.01, 3.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Apellis exchanges $22.5M convertible notes for shares; prior $75.6M exchange closed Aug 1
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- Signed exchange agreements on July 28 to convert $22.5M in 3.5% convertible notes due 2026 into common stock.
- Consideration includes 456,128 shares fixed plus additional shares based on volume-weighted average price over 3 trading days.
- Prior exchange of $75.6M principal closed Aug 1, issuing 2,334,014 shares—combined ~$98.1M of notes converted.
- Shares issued in private placement to QIBs and accredited investors; no registration under Securities Act.
- No cash interest paid on exchanged notes; holders waived accrued interest and conversion rights.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1492422/000119312522210079/0001193125-22-210079-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1492422/000119312522210079/d385179d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-22-210079

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