secwatch.observer — SEC 8-K summary
======================================

Issuer:     Peak Bio, Inc. (—)
CIK:        0001834645
Form:       8-K
Filed at:   2022-11-07T23:59:59+00:00
Accession:  0001193125-22-279204
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.80
Item codes: 1.01, 2.01, 9.01, 3.02, 3.03, 5.03, 5.01, 5.02, 5.05, 5.06
LLM model:  deepseek-v4-flash:cloud@v2

Peak Bio closes SPAC merger with Ignyte Acquisition Corp., becomes public company
--------------------------------------------------------------------------------

- Closed business combination with Ignyte Acquisition Corp.; Peak Bio becomes public entity and renamed Peak Bio, Inc.
- PIPE financing: $3.525M cash from new subscribers + $1.75M bridge debt converted; warrants exercisable at $0.01.
- Entered into up to $100M common stock purchase agreement with White Lion Capital; initial commitment shares $250k.
- Lock-up agreements restrict transfer of shares for 180 days post-closing for certain stockholders.
- Hoyoung Huh beneficially owns 38.9% of outstanding shares; Sponsor (David Rosenberg) 7.6%; IBKC-SBI Bio Fund 17.1%.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1834645/000119312522279204/0001193125-22-279204-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1834645/000119312522279204/d395002d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-22-279204

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