secwatch.observer — SEC 8-K summary
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Issuer:     Gritstone bio, Inc. (—)
CIK:        0001656634
Form:       8-K
Filed at:   2024-10-10T23:59:59+00:00
Accession:  0001193125-24-235637
Event type: other_material
Sentiment:  negative
Materiality: 1.00
Item codes: 1.03, 2.04, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Gritstone bio files Chapter 11 bankruptcy; ~$40M cash; seeks stalking horse bidder
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- Filed voluntary Chapter 11 on Oct. 10, 2024 in Delaware Bankruptcy Court, case #24-12305; intends to continue operations as debtor-in-possession.
- Unaudited cash, cash equivalents and marketable securities of ~$40.0M as of Aug. 31, 2024; financial closing procedures pending.
- Chapter 11 filing triggered default and accelerated obligations under loan agreements (Hercules Capital, SVB); enforcement automatically stayed.
- Expects Nasdaq delisting notice under Rule 5110(b); will not appeal; common stock likely delisted but reporting obligations unchanged.
- Press release states discussions with party to act as stalking horse bidder or plan sponsor; agreement may be presented to court as early as next week.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1656634/000119312524235637/0001193125-24-235637-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1656634/000119312524235637/d119736d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-235637

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