{"schema_version":"secwatch.filing_event.v1","accession":"0001193125-25-170187","form_type":"8-K","ticker":null,"cik":"0001597553","company_name":"Sage Therapeutics, Inc.","filed_at":"2025-07-31T23:59:59+00:00","discovered_at":"2026-05-14T18:02:44.458004+00:00","generated_at":"2026-05-17T22:19:05.145641+00:00","sec_items":["2.01","3.01","5.01","3.03","5.03","5.02","9.01"],"event_type":"m_and_a","sentiment":"neutral","materiality_score":1.0,"calibrated_materiality_score":1.0,"confidence":"high","headline":"Supernus completes acquisition of Sage Therapeutics for $8.50/share plus CVR","bullets":["Tender offer expired with 36.3M shares (58%) tendered; all conditions satisfied.","Shareholders receive $8.50 cash per share plus up to $3.50 per share CVR.","Shares to be delisted from Nasdaq; company will file Form 15 to terminate registration.","All prior directors and officers resigned; replaced by Supernus designees including Jack Khattar.","CEO Barry Greene's severance amended with 18-month pay and 24-month non-compete covenant."],"urls":{"canonical":"https://secwatch.observer/filing/0001193125-25-170187","json":"https://secwatch.observer/filing/0001193125-25-170187.json","markdown":"https://secwatch.observer/filing/0001193125-25-170187.md","text":"https://secwatch.observer/filing/0001193125-25-170187.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1597553/000119312525170187/0001193125-25-170187-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1597553/000119312525170187/d877271d8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-17T22:19:05.145641+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":[{"claim_id":"2eb469581df779f28494c86f7d2218e2bbcc44c1","claim":"Sage Therapeutics, Inc. underwent a change of control involving Supernus Pharmaceuticals, Inc. for $8.50 per Share in cash, plus one contingent value right per Share representing the right to receive up to $3.50 per Share (closed 2025-07-31).","evidence_excerpt":"a tender offer (the “Offer”) on July 2, 2025, to acquire all of the outstanding shares of common stock of the Company, par value $0.0001 per share (the “Shares”) for (i) $8.50 per Share, net to the seller in cash, without interest and subject to any withholding of Taxes, (the “Closing Amount”), plus (ii) one contingent value right per Share (a “CVR”),","evidence_source":"SEC 8-K Item 2.01/5.01","evidence_url":"https://www.sec.gov/Archives/edgar/data/1597553/000119312525170187/0001193125-25-170187-index.htm","confidence":0.9,"family_label":"M&A Transactions","details":[{"label":"Action","value":"change of control"},{"label":"Counterparty","value":"Supernus Pharmaceuticals, Inc."},{"label":"Consideration","value":"$8.50 per Share in cash, plus one contingent value right per Share representing the right to receive up to $3.50 per Share"},{"label":"Closing","value":"2025-07-31"}],"fact_type":"ma_transaction"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}