secwatch.observer — SEC 8-K summary
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Issuer:     CHINOOK THERAPEUTICS, INC. (—)
CIK:        0001435049
Form:       8-K
Filed at:   2023-08-11T23:59:59+00:00
Accession:  0001193125-23-210803
Event type: m_and_a
Sentiment:  neutral
Materiality: 1.00
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

Novartis completes acquisition of Chinook Therapeutics for $40 per share plus CVRs
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- Shareholders received $40 cash per share plus one CVR with $2.00 milestone for atrasentan in IgAN and $2.00 for FSGS.
- All outstanding stock options, RSUs, and PSUs vested and converted into cash and CVRs at the effective time.
- Chinook common stock halted and delisted from Nasdaq; Form 25 to be filed for deregistration.
- Prior board and officers replaced by Merger Sub's directors and officers; equity plans and ATM facility terminated.
- Board approved a gross-up plan for specified executives with an aggregate $11.6 million cap for excise tax payments.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1435049/000119312523210803/0001193125-23-210803-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1435049/000119312523210803/d103891d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-210803

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