{"schema_version":"secwatch.filing_event.v1","accession":"0001193125-25-110004","form_type":"8-K","ticker":"JBIO","cik":"0001798749","company_name":"Jade Biosciences, Inc.","filed_at":"2025-05-01T23:59:59+00:00","discovered_at":"2026-05-14T18:02:49.758220+00:00","generated_at":"2026-05-23T00:54:16.866462+00:00","sec_items":["1.01","2.01","5.02","9.01","2.02","3.03","4.01","5.01","5.03","5.05","5.06","7.01"],"event_type":"m_and_a","sentiment":"neutral","materiality_score":1.0,"calibrated_materiality_score":1.0,"confidence":"high","headline":"Jade Biosciences completes reverse merger with Aerovate; former Aerovate holders own ~1.4%","bullets":["Merger closed April 28, 2025; Aerovate stockholders received ~$69.6M special dividend ($2.40 pre-split) and ~1.4% of combined entity.","Jade securityholders own ~98.6% of combined company; gross proceeds ~$334.2M raised including $95M convertible note conversion.","Aerovate 1-for-35 reverse stock split effective prior to close; combined company renamed Jade Biosciences, Inc., ticker JBIO.","Post-merger outstanding: 32.2M common shares, 7.8M pre-funded warrants, and 12.6M shares underlying Series A Preferred Stock.","Unaudited pro forma combined financials filed; business focus on autoimmune disease therapies from Paragon Therapeutics license."],"urls":{"canonical":"https://secwatch.observer/filing/0001193125-25-110004","json":"https://secwatch.observer/filing/0001193125-25-110004.json","markdown":"https://secwatch.observer/filing/0001193125-25-110004.md","text":"https://secwatch.observer/filing/0001193125-25-110004.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1798749/000119312525110004/0001193125-25-110004-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1798749/000119312525110004/d847557d8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-23T00:54:16.866462+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}