--- schema_version: "secwatch.filing_event.v1" accession: "0001193125-22-298016" form_type: "8-K" ticker: "SLDB" cik: "0001707502" company_name: "Solid Biosciences Inc." filed_at: "2022-12-05T23:59:59+00:00" generated_at: "2026-06-21T09:40:36.329151+00:00" event_type: "m_and_a" sentiment: "positive" materiality_score: 0.85 calibrated_materiality_score: 0.85 confidence: "high" source: SEC EDGAR --- # Solid Biosciences closes AavantiBio acquisition, $75M PIPE, Bo Cumbo named CEO ## Summary - Issued 1,354,258 shares of common stock plus $1,000 cash to AavantiBio equityholders upon close. - Closed $75.0M private placement with investors including Perceptive, RA Capital, Bain Capital Life Sciences. - Appointed Alexander (Bo) Cumbo as President and CEO, effective Dec 2, 2022; former AavantiBio CEO. - Board approved 18% workforce reduction; expects ~$3.2M severance charge in Q4 2022. - Combined company holds ~$215M cash and investments; expected to fund operations into 2025. ## SEC filing metadata - accession: 0001193125-22-298016 - form_type: 8-K - ticker: SLDB - cik: 0001707502 - company_name: Solid Biosciences Inc. - filed_at: 2022-12-05T23:59:59+00:00 - event_type: m_and_a - sentiment: positive - materiality_score: 0.85 - calibrated_materiality_score: 0.85 - confidence: high - sec_items: 1.01, 2.01, 2.05, 3.02, 5.02, 7.01, 9.01 - EDGAR index: https://www.sec.gov/Archives/edgar/data/1707502/000119312522298016/0001193125-22-298016-index.htm - EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1707502/000119312522298016/d420688d8k.htm ## Machine-readable alternates - HTML: https://secwatch.observer/filing/0001193125-22-298016 - JSON: https://secwatch.observer/filing/0001193125-22-298016.json - Plain text: https://secwatch.observer/filing/0001193125-22-298016.txt ## Key facts - Executive change Erin Powers Brennan resigned as Chief Legal Officer and Secretary at Solid Biosciences Inc.. - Action: resigned - Role: Chief Legal Officer and Secretary source text: Erin Powers Brennan notified the Company of her resignation as the Company’s Chief Legal Officer and Secretary evidence_url: https://www.sec.gov/Archives/edgar/data/1707502/000119312522298016/0001193125-22-298016-index.htm - Executive change Ilan Ganot resigned as Chief Executive Officer and President at Solid Biosciences Inc.. - Action: resigned - Role: Chief Executive Officer and President source text: Ilan Ganot notified the Company of his resignation as the Company’s Chief Executive Officer and President evidence_url: https://www.sec.gov/Archives/edgar/data/1707502/000119312522298016/0001193125-22-298016-index.htm - Executive change Adam Koppel was elected as Director at Solid Biosciences Inc.. - Action: elected - Role: Director source text: On November 30, 2022, the Board also elected Adam Koppel, M.D., Ph.D., as a member of the Board, subject to and contingent and effective upon the closing of the Acquisition. evidence_url: https://www.sec.gov/Archives/edgar/data/1707502/000119312522298016/0001193125-22-298016-index.htm - Executive change Alexander (Bo) Cumbo was appointed as President and Chief Executive Officer at Solid Biosciences Inc.. - Action: appointed - Role: President and Chief Executive Officer source text: On November 30, 2022, the Board appointed Alexander (Bo) Cumbo as the Company’s President and Chief Executive Officer and elected Mr. Cumbo as a member of the Board, in each case, subject to and contingent and effective upon the closing of the Acquisition (the “Effective Date”). evidence_url: https://www.sec.gov/Archives/edgar/data/1707502/000119312522298016/0001193125-22-298016-index.htm - M&A Transactions Solid Biosciences Inc. completed an acquisition involving AavantiBio, Inc. (closed 2022-12-02). - Action: acquisition - Counterparty: AavantiBio, Inc. - Closing: 2022-12-02 source text: On December 2, 2022, the Company completed its acquisition of AavantiBio in accordance with the terms of the Merger Agreement. evidence_url: https://www.sec.gov/Archives/edgar/data/1707502/000119312522298016/0001193125-22-298016-index.htm - Material Agreements Solid Biosciences Inc. entered into UFRF License Agreements with University of Florida Research Foundation, Inc. valued at totaling up to $15.4 million. - Action: entry - Agreement: license - Counterparty: University of Florida Research Foundation, Inc. - Value: totaling up to $15.4 million source text: AavantiBio entered into multiple license agreements with the University of Florida Research Foundation, Inc. (the “UFRF License Agreements”). evidence_url: https://www.sec.gov/Archives/edgar/data/1707502/000119312522298016/0001193125-22-298016-index.htm - Material Agreements Solid Biosciences Inc. entered into a license with University of North Carolina valued at up to $5.0 million (effective 2021-12-21). - Action: entry - Agreement: license - Counterparty: University of North Carolina - Value: up to $5.0 million - Effective: 2021-12-21 source text: On December 21, 2021, AavantiBio entered into an exclusive license agreement with the University of North Carolina (“UNC”) with respect to certain patent rights relating to truncated dysferlin for treatment of dysferlinopathy. evidence_url: https://www.sec.gov/Archives/edgar/data/1707502/000119312522298016/0001193125-22-298016-index.htm - Material Agreements Solid Biosciences Inc. entered into a license with Life Technologies Corporation valued at $450,000 upfront fee (effective 2020-12-18). - Action: entry - Agreement: license - Counterparty: Life Technologies Corporation - Value: $450,000 upfront fee - Effective: 2020-12-18 source text: On December 18, 2020, AavantiBio entered into a non-exclusive license agreement with Life Technologies Corporation, a Delaware corporation, with respect to life cells for producing genetically engineered adeno associated virus (AAV) particles. evidence_url: https://www.sec.gov/Archives/edgar/data/1707502/000119312522298016/0001193125-22-298016-index.htm - Restructurings & Charges Solid Biosciences Inc. announced a restructuring with charges of approximately $3.2 million (approximately 18%). - Type: restructuring - Charge: approximately $3.2 million - Headcount: approximately 18% source text: On November 30, 2022, the Company’s Board of Directors (the “Board”) approved a plan to reduce the Company’s workforce by approximately 18%. These reductions are expected to be completed by the December 5, 2022. This plan is designed to streamline the Company’s operating structure. The Company expects to incur a charge in the fourth quarter of 2022 of approximately $3.2 million related to the reduction in force, consisting of severance and other employee termination benefits. The Company expects that approximately $0.4 million of this amount will be paid during in the fourth quarter of 2022 and the balance through the first quarter of 2024. evidence_url: https://www.sec.gov/Archives/edgar/data/1707502/000119312522298016/0001193125-22-298016-index.htm This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.