---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-182057"
form_type: "8-K"
ticker: null
cik: "0001780097"
company_name: "Baudax Bio, Inc."
filed_at: "2023-07-05T23:59:59+00:00"
generated_at: "2026-06-13T12:46:01.502944+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Baudax Bio acquires TeraImmune in stock-for-stock merger; issues preferred shares convertible to common

## Summary
- Baudax Bio issued 1,212,185 common shares and 27,089.719 Series X convertible preferred shares (each convertible into 1,000 common) to TeraImmune stockholders.
- Post-merger Baudax Bio had 7,276,149 shares of common stock outstanding; certain shares subject to 180-day lock-up.
- Special shareholder meeting required to approve conversion of Series X Preferred Stock; failure may trigger cash settlement at fair value.
- Baudax Bio entered a 30-day forbearance agreement with lenders under its credit facility related to the merger.
- Yong Chan Kim, PhD (former TeraImmune CEO) appointed to Baudax Bio's board effective July 3, 2023.

## SEC filing metadata
- accession: 0001193125-23-182057
- form_type: 8-K
- cik: 0001780097
- company_name: Baudax Bio, Inc.
- filed_at: 2023-07-05T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 1.01, 5.03, 2.01, 3.02, 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1780097/000119312523182057/0001193125-23-182057-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1780097/000119312523182057/d367312d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-182057
- JSON: https://secwatch.observer/filing/0001193125-23-182057.json
- Plain text: https://secwatch.observer/filing/0001193125-23-182057.txt

## Key facts
- Executive change
  Yong Chan Kim was appointed as member of the Board at Baudax Bio, Inc..
  - Action: appointed
  - Role: member of the Board
  source text: On July 3, 2023, the Board appointed Yong Chan Kim, Ph.D., as a member of the Board, effective as of July 3, 2023
  evidence_url: https://www.sec.gov/Archives/edgar/data/1780097/000119312523182057/0001193125-23-182057-index.htm
- Governance Changes
  Baudax Bio, Inc.: Filed Certificate of Designation for Series X Non-Voting Convertible Preferred Stock (effective 2023-07-03).
  - Change: charter amendment
  - Effective: 2023-07-03
  source text: On the Effective Date, Baudax Bio filed a Certificate of Designation of Preferences, Rights and Limitations of Series X Non-Voting Convertible Preferred Stock with the Secretary of State of the State of Delaware
  evidence_url: https://www.sec.gov/Archives/edgar/data/1780097/000119312523182057/0001193125-23-182057-index.htm
- M&A Transactions
  Baudax Bio, Inc. completed an acquisition involving TeraImmune, Inc. (closed 2023-06-29).
  - Action: acquisition
  - Counterparty: TeraImmune, Inc.
  - Closing: 2023-06-29
  source text: On the Effective Date, Baudax Bio completed its business combination with TeraImmune.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1780097/000119312523182057/0001193125-23-182057-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.