secwatch.observer — SEC 8-K summary
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Issuer:     Baudax Bio, Inc. (—)
CIK:        0001780097
Form:       8-K
Filed at:   2023-07-05T23:59:59+00:00
Accession:  0001193125-23-182057
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.85
Item codes: 1.01, 5.03, 2.01, 3.02, 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1780097/000119312523182057/0001193125-23-182057-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1780097/000119312523182057/d367312d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-182057

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