secwatch.observer — SEC 8-K summary
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Issuer:     Satsuma Pharmaceuticals, Inc. (—)
CIK:        0001692830
Form:       8-K
Filed at:   2023-06-08T23:59:59+00:00
Accession:  0001193125-23-163082
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.90
Item codes: 1.02, 2.01, 3.01, 3.03, 5.01, 5.02, 5.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Satsuma Pharmaceuticals acquired by Shin Nippon Biomedical for $0.91/share plus CVR; total cash ~$27.7M
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- Tender offer closed with ~66.1% of fully-diluted shares tendered; merger completed June 8, 2023.
- Stockholders received $0.91 per share in cash plus one non-transferable CVR; aggregate cash ~$27.7M.
- Satsuma shares to be delisted from Nasdaq; company to deregister via Form 15.
- Board replaced: former directors resigned; Ryoichi Nagata appointed President, John Kollins and Tom O'Neil departed.
- Equity incentive plans, employee stock purchase plan, and ATM sales agreement terminated.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1692830/000119312523163082/0001193125-23-163082-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1692830/000119312523163082/d516868d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-163082

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