secwatch.observer — SEC 8-K summary
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Issuer:     Cullinan Therapeutics, Inc. (CGEM)
CIK:        0001789972
Form:       8-K
Filed at:   2023-01-19T23:59:59+00:00
Accession:  0001193125-23-011002
Event type: other_material
Sentiment:  neutral
Materiality: 0.35
Item codes: 3.02, 5.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Cullinan Oncology exchanges 6.5M common shares for Series A convertible preferred held by BVF funds
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- Exchanged 6,475,000 common shares for 647,500 Series A convertible preferred (10:1 conversion ratio).
- Issued under Section 3(a)(9) exemption; no commissions paid.
- Preferred shares have no voting rights; conversion limited to initial 9.99% beneficial ownership cap.
- Post-exchange common outstanding: 39,324,370; preferred convertible into up to 6,457,000 common shares.
- Transaction closed Jan 19, 2023 with Biotechnology Value Fund L.P. and affiliates.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1789972/000119312523011002/0001193125-23-011002-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1789972/000119312523011002/d399356d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-011002

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