secwatch.observer — SEC 8-K summary
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Issuer:     Turnstone Biologics Corp. (—)
CIK:        0001764974
Form:       8-K
Filed at:   2025-08-11T23:59:59+00:00
Accession:  0001193125-25-177597
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.90
Item codes: 2.01, 3.01, 3.03, 5.01, 5.02, 5.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Turnstone Biologics completes acquisition by XOMA Royalty for $0.34/share plus CVR
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- Merger closed Aug 11, 2025; shareholders get $0.34 cash plus one non-transferable CVR per share.
- 17,192,002 shares (≈74% of outstanding) tendered; all conditions satisfied; no shareholder vote required.
- CVR may pay up to ~$1.1M from Canadian tax refunds and sublease security deposit within 12 months.
- Asset sale to Moffitt Cancer Center closed for ~$3.0M total consideration; $1.8M in escrow initially.
- All Turnstone directors resigned; Owen Hughes became sole director/officer of surviving corporation.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1764974/000119312525177597/0001193125-25-177597-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1764974/000119312525177597/d27108d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-25-177597

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer