secwatch / observer
8-K filed August 11, 2025, 7:59 PM ET CIK 0001764974
M&A confidence high sentiment neutral materiality 0.90

Turnstone Biologics Corp.: M&A transaction — Turnstone Biologics completes acquisition by XOMA Royalty for $0.34/share plus CVR

Turnstone Biologics Corp.

Key facts

Extracted from this filing and checked against the source text.

Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

Turnstone Biologics Corp.: Certificate of incorporation amended and restated in its entirety following merger.

Change
charter amendment
Exact text from the filing
(i) the Surviving Corporation’s certificate of incorporation was amended and restated in its entirety, as set forth in Exhibit 3.1 to this Current Report on Form 8-K and is incorporated herein by reference
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Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

Turnstone Biologics Corp.: Bylaws of Merger Sub became the bylaws of the Surviving Corporation following merger.

Change
bylaw amendment
Exact text from the filing
(ii) the bylaws of Merger Sub as in effect immediately prior to the Effective Time became the bylaws of the Surviving Corporation, as set forth in Exhibit 3.2 to this Current Report on Form 8-K and is incorporated herein by reference
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M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

Turnstone Biologics Corp. completed a disposition involving H. Lee Moffitt Cancer Center and Research Institute, Inc for total consideration of approximately $3.0 million to offset Turnstone’s obligations to Moffitt under the Alliance Agreement, of which, approximately $1.8 millio (closed 2025-08-11).

Action
disposition
Counterparty
H. Lee Moffitt Cancer Center and Research Institute, Inc
Consideration
total consideration of approximately $3.0 million to offset Turnstone’s obligations to Moffitt under the Alliance Agreement, of which, approximately $1.8 millio
Closing
2025-08-11
Exact text from the filing
certain obligations of the Company’s under the Myst Merger Agreement (as defined in the Asset Purchase Agreement). Turnstone received a total consideration of approximately $3.0 million to offset Turnstone’s obligations to Moffitt under the Alliance Agreement (as defined in the Asset Purchase Agreement), of which, approximately $1.8 million was placed into an
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M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

Turnstone Biologics Corp. underwent a change of control involving XOMA Royalty Corporation for per Share of (i) $0.34 cash plus (ii) one non-transferable contractual contingent value right (CVR) representing potential additional cash payments (closed 2025-08-11).

Action
change of control
Counterparty
XOMA Royalty Corporation
Consideration
per Share of (i) $0.34 cash plus (ii) one non-transferable contractual contingent value right (CVR) representing potential additional cash payments
Closing
2025-08-11
Exact text from the filing
Purchaser completed a tender offer to purchase all of the Company’s outstanding shares of common stock, par value $0.001 per share (the “Shares”), for a price per Share of (i) $0.34 (the “Cash Amount”), payable subject to any applicable tax withholding and without interest, plus (ii) one non-transferable contractual contingent value right (“CVR”), which shall
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Source: SEC EDGAR
accession 0001193125-25-177597
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