IMPEL PHARMACEUTICALS INC: M&A transaction — Impel completes asset sale to JN Bidco for $17.5M cash; CEO departs

IMPEL PHARMACEUTICALS INC

Closed sale of substantially all assets to JN Bidco LLC for $17.5M upfront cash plus contingent earnout based on net sales/licensing fees.
Len Paolillo resigned as Interim CEO effective Feb 12, 2024; entered consulting agreement at $500/hr through June 30, 2024.
Company remains in Chapter 11; stock delisted from Nasdaq, trades on OTC Pink under IMPLQ.

item 1.01 item 2.01 item 1.03 item 5.02

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Departed

Len Paolillo

Interim Chief Executive Officer

IMPEL PHARMACEUTICALS INC

Effective: 2024-02-12
Filed: February 14, 2024, 6:59 PM ET

Len Paolillo departed as the Company’s Interim Chief Executive Officer on February 12, 2024.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Len Paolillo resigned as Interim Chief Executive Officer at IMPEL PHARMACEUTICALS INC.

Action: resigned
Role: Interim Chief Executive Officer

Exact text from the filing

Len Paolillo departed as the Company’s Interim Chief Executive Officer on February 12, 2024.

View on SEC.gov

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

IMPEL PHARMACEUTICALS INC completed a disposition involving JN Bidco LLC for $17,500,000 in cash at the closing of the transactions and (ii) an additional amount in cash based on certain net sales and licensing fees generated by certain (closed 2024-02-12).

Action: disposition
Counterparty: JN Bidco LLC
Consideration: $17,500,000 in cash at the closing of the transactions and (ii) an additional amount in cash based on certain net sales and licensing fees generated by certain
Closing: 2024-02-12

Exact text from the filing

Horse APA ”) with JN Bidco LLC (the “ Bidder ”) to sell substantially all of the assets of the Company (the “ Company Assets ,” and such sale, the “ Asset Sale ”) for (i) $17,500,000 in cash at the closing of the transactions and (ii) an additional amount in cash based on certain net sales and licensing fees generated by certain of the Company Assets, subject

View on SEC.gov

21 m&a transactions filed in the last 30 days. Browse all m&a transactions →

Source: SEC EDGAR

accession 0001193125-24-036588

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.