8-K
filed January 3, 2025, 6:59 PM ET
CIK 0001656634
M&A
confidence high
sentiment negative
materiality 0.90
Gritstone bio, Inc.: M&A transaction — Gritstone bio sells assets for $21.25M to Seattle Project Corp. in Ch11; CEO and top officers resign
Gritstone bio, Inc.
- Sold substantially all assets (excl. machinery, Binder IP) to Seattle Project Corp. for $21.25M cash at closing.
- Effective Dec 31, 2024: CEO Andrew Allen, CBO Matthew Hawryluk, COO Erin Jones, R&D head Karin Jooss resigned without cause.
- Celia Economides named interim CEO and CFO effective Dec 31, 2024; no change in compensation.
- Bankruptcy Court approved sale on Dec 23, 2024; closing occurred Dec 30, 2024.
- Company cautions that trading in common stock (GRTSQ) is highly speculative due to Chapter 11 Case.
Key facts
Extracted from this filing and checked against the source text.
Executive change
SEC 8-K Item 5.02
confidence 0.95
Matthew Hawryluk resigned as Executive Vice President and Chief Business Officer at Gritstone bio, Inc..
- Action
- resigned
- Role
- Executive Vice President and Chief Business Officer
Exact text from the filing
Matthew Hawryluk, Ph.D., Executive Vice President and Chief Business Officer
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Vassiliki "Celia" Economides was appointed as interim Chief Executive Officer and Chief Financial Officer at Gritstone bio, Inc..
- Action
- appointed
- Role
- interim Chief Executive Officer and Chief Financial Officer
Exact text from the filing
Also effective December 31, 2024 and following the closing of the Asset Sale, Vassiliki “Celia” Economides became interim Chief Executive Officer of the Company as well as Chief Financial Officer of the Company.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Karin Jooss resigned as Executive Vice President and Head of Research and Development at Gritstone bio, Inc..
- Action
- resigned
- Role
- Executive Vice President and Head of Research and Development
Exact text from the filing
Karin Jooss, Ph.D., Executive Vice President and Head of Research and Development
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Erin E. Jones resigned as Executive Vice President and Chief Operating Officer at Gritstone bio, Inc..
- Action
- resigned
- Role
- Executive Vice President and Chief Operating Officer
Exact text from the filing
Erin E. Jones, Executive Vice President and Chief Operating Officer
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Andrew Allen resigned as President and Chief Executive Officer at Gritstone bio, Inc..
- Action
- resigned
- Role
- President and Chief Executive Officer
Exact text from the filing
Andrew Allen, M.D., Ph.D., President and Chief Executive Officer
View on SEC.gov
M&A Transactions
SEC 8-K Item 2.01/5.01
confidence 0.9
Gritstone bio, Inc. completed a disposition involving Seattle Project Corp. for $21,250,000 in cash (closed 2024-12-30).
- Action
- disposition
- Counterparty
- Seattle Project Corp.
- Consideration
- $21,250,000 in cash
- Closing
- 2024-12-30
Exact text from the filing
property assets generally known as “Binder IP,” and certain other specifically identified excluded assets) (the “ Company Assets ,” and such sale, the “ Asset Sale ”) for $21,250,000 in cash at the closing of the Asset Sale. On December 30, 2024, the Company and the Bidders closed the Asset Sale contemplated by the APA, thereby completing the disposition of
View on SEC.gov
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