--- schema_version: "secwatch.filing_event.v1" accession: "0001193125-23-010990" form_type: "8-K" ticker: null cik: "0001325879" company_name: "AVEO PHARMACEUTICALS, INC." filed_at: "2023-01-19T23:59:59+00:00" generated_at: "2026-06-20T12:57:43.497732+00:00" event_type: "m_and_a" sentiment: "positive" materiality_score: 1.0 calibrated_materiality_score: 1.0 confidence: "high" source: SEC EDGAR --- # AVEO Pharmaceuticals acquired by LG Chem for $15 per share in all-cash deal; stock to be delisted ## Summary - Total aggregate consideration of ~$570.6M for shares and stock option settlement. - Loan agreement terminated; $3.18M in prepayment and end-of-term charges paid. - AVEO shares will be suspended from Nasdaq and deregistered with SEC. - Board resigned; Jaywin Lee becomes sole director; new CFO named on interim basis. - AVEO continues operations under AVEO Oncology name, led by existing CEO Michael Bailey. ## SEC filing metadata - accession: 0001193125-23-010990 - form_type: 8-K - cik: 0001325879 - company_name: AVEO PHARMACEUTICALS, INC. - filed_at: 2023-01-19T23:59:59+00:00 - event_type: m_and_a - sentiment: positive - materiality_score: 1.0 - calibrated_materiality_score: 1.0 - confidence: high - sec_items: 1.02, 2.01, 3.01, 3.03, 5.01, 5.02, 5.03, 7.01, 9.01 - EDGAR index: https://www.sec.gov/Archives/edgar/data/1325879/000119312523010990/0001193125-23-010990-index.htm - EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1325879/000119312523010990/d450299d8k.htm ## Machine-readable alternates - HTML: https://secwatch.observer/filing/0001193125-23-010990 - JSON: https://secwatch.observer/filing/0001193125-23-010990.json - Plain text: https://secwatch.observer/filing/0001193125-23-010990.txt ## Key facts - Executive change Jaywin Lee was appointed as Director at AVEO PHARMACEUTICALS, INC.. - Action: became - Role: Director source text: Jaywin Lee became the sole member of the Board. evidence_url: https://www.sec.gov/Archives/edgar/data/1325879/000119312523010990/0001193125-23-010990-index.htm - Executive change Erick Lucera was appointed as Chief Financial Officer at AVEO PHARMACEUTICALS, INC.. - Action: appointed - Role: Chief Financial Officer source text: Mr. Lucera will serve as the Company’s Chief Financial Officer during a temporary transition period evidence_url: https://www.sec.gov/Archives/edgar/data/1325879/000119312523010990/0001193125-23-010990-index.htm - Executive change Kevin Cullen resigned as Director at AVEO PHARMACEUTICALS, INC.. - Action: resigned - Role: Director source text: each of Kenneth Bate, Michael Bailey, Kevin Cullen, M.D., Corinne Epperly, M.D., M.P.H., Anthony Evnin, Ph.D., Gregory Mayes and Scarlett Spring submitted his or her resignation from the board directors of the Company evidence_url: https://www.sec.gov/Archives/edgar/data/1325879/000119312523010990/0001193125-23-010990-index.htm - Executive change Gregory Mayes resigned as Director at AVEO PHARMACEUTICALS, INC.. - Action: resigned - Role: Director source text: each of Kenneth Bate, Michael Bailey, Kevin Cullen, M.D., Corinne Epperly, M.D., M.P.H., Anthony Evnin, Ph.D., Gregory Mayes and Scarlett Spring submitted his or her resignation from the board directors of the Company evidence_url: https://www.sec.gov/Archives/edgar/data/1325879/000119312523010990/0001193125-23-010990-index.htm - Executive change Jebediah Ledell was appointed as Executive Officer at AVEO PHARMACEUTICALS, INC.. - Action: appointed - Role: Executive Officer source text: each of Michael Bailey, Michael Ferraresso, Jebediah Ledell and Erick Lucera was appointed as an executive officer of the surviving corporation. evidence_url: https://www.sec.gov/Archives/edgar/data/1325879/000119312523010990/0001193125-23-010990-index.htm - Executive change Anthony Evnin resigned as Director at AVEO PHARMACEUTICALS, INC.. - Action: resigned - Role: Director source text: each of Kenneth Bate, Michael Bailey, Kevin Cullen, M.D., Corinne Epperly, M.D., M.P.H., Anthony Evnin, Ph.D., Gregory Mayes and Scarlett Spring submitted his or her resignation from the board directors of the Company evidence_url: https://www.sec.gov/Archives/edgar/data/1325879/000119312523010990/0001193125-23-010990-index.htm - Executive change Scarlett Spring resigned as Director at AVEO PHARMACEUTICALS, INC.. - Action: resigned - Role: Director source text: each of Kenneth Bate, Michael Bailey, Kevin Cullen, M.D., Corinne Epperly, M.D., M.P.H., Anthony Evnin, Ph.D., Gregory Mayes and Scarlett Spring submitted his or her resignation from the board directors of the Company evidence_url: https://www.sec.gov/Archives/edgar/data/1325879/000119312523010990/0001193125-23-010990-index.htm - Executive change Kenneth Bate resigned as Director at AVEO PHARMACEUTICALS, INC.. - Action: resigned - Role: Director source text: each of Kenneth Bate, Michael Bailey, Kevin Cullen, M.D., Corinne Epperly, M.D., M.P.H., Anthony Evnin, Ph.D., Gregory Mayes and Scarlett Spring submitted his or her resignation from the board directors of the Company evidence_url: https://www.sec.gov/Archives/edgar/data/1325879/000119312523010990/0001193125-23-010990-index.htm - Executive change Michael Bailey resigned as Director at AVEO PHARMACEUTICALS, INC.. - Action: resigned - Role: Director source text: each of Kenneth Bate, Michael Bailey, Kevin Cullen, M.D., Corinne Epperly, M.D., M.P.H., Anthony Evnin, Ph.D., Gregory Mayes and Scarlett Spring submitted his or her resignation from the board directors of the Company evidence_url: https://www.sec.gov/Archives/edgar/data/1325879/000119312523010990/0001193125-23-010990-index.htm - Executive change Michael Ferraresso was appointed as Executive Officer at AVEO PHARMACEUTICALS, INC.. - Action: appointed - Role: Executive Officer source text: each of Michael Bailey, Michael Ferraresso, Jebediah Ledell and Erick Lucera was appointed as an executive officer of the surviving corporation. evidence_url: https://www.sec.gov/Archives/edgar/data/1325879/000119312523010990/0001193125-23-010990-index.htm - Executive change Corinne Epperly resigned as Director at AVEO PHARMACEUTICALS, INC.. - Action: resigned - Role: Director source text: each of Kenneth Bate, Michael Bailey, Kevin Cullen, M.D., Corinne Epperly, M.D., M.P.H., Anthony Evnin, Ph.D., Gregory Mayes and Scarlett Spring submitted his or her resignation from the board directors of the Company evidence_url: https://www.sec.gov/Archives/edgar/data/1325879/000119312523010990/0001193125-23-010990-index.htm - Governance Changes AVEO PHARMACEUTICALS, INC.: Amended and restated certificate of incorporation in its entirety. - Change: charter amendment source text: Pursuant to the Merger Agreement, as of the Effective Time, the restated certificate of incorporation of the Company, as in effect immediately prior to the Effective Time, was amended and restated in its entirety (the “Amended and Restated Certificate of Incorporation”). evidence_url: https://www.sec.gov/Archives/edgar/data/1325879/000119312523010990/0001193125-23-010990-index.htm - Governance Changes AVEO PHARMACEUTICALS, INC.: Amended and restated second amended and restated bylaws in their entirety. - Change: bylaw amendment source text: In addition, as of the Effective Time, in accordance with the Merger Agreement, the second amended and restated bylaws of the Company, as in effect immediately prior to the Effective Time, were amended and restated in their entirety (the “Bylaws”). evidence_url: https://www.sec.gov/Archives/edgar/data/1325879/000119312523010990/0001193125-23-010990-index.htm - M&A Transactions AVEO PHARMACEUTICALS, INC. underwent a change of control involving LG Chem, Ltd. for $15.00 per Share in cash (closed 2023-01-19). - Action: change of control - Counterparty: LG Chem, Ltd. - Consideration: $15.00 per Share in cash - Closing: 2023-01-19 source text: (“Merger Sub”), a Delaware corporation and an indirect wholly owned subsidiary of LG Chem, Ltd., a corporation organized and existing under the laws of the Republic of Korea (“LG Chem”), whereby Merger Sub merged with and into the Company, with the Company continuing as the surviving corporation and an indirect wholly owned subsidiary of LG Chem (the “Merger”). evidence_url: https://www.sec.gov/Archives/edgar/data/1325879/000119312523010990/0001193125-23-010990-index.htm - Material Agreements AVEO PHARMACEUTICALS, INC. terminated Amended and Restated Loan and Security Agreement with Hercules Capital, Inc. as administrative agent and collateral agent for itself and a lender valued at $3,180,000 (effective 2023-01-19). - Action: termination - Agreement: credit facility - Counterparty: Hercules Capital, Inc. as administrative agent and collateral agent for itself and a lender - Value: $3,180,000 - Effective: 2023-01-19 source text: On January 19, 2023, in connection with the completion of the Merger (as defined below), AVEO Pharmaceuticals, Inc., a Delaware corporation (the “Company”), prepaid in full all amounts owing and terminated all lending commitments under the Amended and Restated Loan and Security Agreement, dated as of December 28, 2017 evidence_url: https://www.sec.gov/Archives/edgar/data/1325879/000119312523010990/0001193125-23-010990-index.htm This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.