secwatch.observer — SEC 8-K summary
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Issuer:     Peak Bio, Inc. (—)
CIK:        0001834645
Form:       8-K
Filed at:   2024-03-05T23:59:59+00:00
Accession:  0001193125-24-059366
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.85
Item codes: 1.01, 5.03, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Peak Bio enters merger agreement with Akari; stockholders to receive ~50% of Akari ADSs
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- Merger consideration: Peak Bio shareholders receive Akari ADSs equaling ~50% of outstanding Akari ADSs, subject to net cash adjustments.
- Voting agreements in place covering ~39.3% of Peak Bio stock and ~39.51% of Akari shares, binding to support merger.
- Closing conditions include Peak Bio net cash > -$13.5M, concurrent PIPE investment of at least $10M, and regulatory approvals.
- Termination fee of $300,000 plus expense reimbursement up to $1.5M; merger must close by September 4, 2024.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1834645/000119312524059366/0001193125-24-059366-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1834645/000119312524059366/d816527d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-059366

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