---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-25-186994"
form_type: "8-K"
ticker: "MNKD"
cik: "0000899460"
company_name: "MANNKIND CORP"
filed_at: "2025-08-25T23:59:59+00:00"
generated_at: "2026-05-17T10:28:30.530270+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# MannKind to acquire scPharmaceuticals for $5.35/share plus CVR up to $1.00/share

## Summary
- Offer price: $5.35 cash + one contingent value right (CVR) per share; CVR milestones up to $1.00 aggregate.
- CVR milestones: FDA approval of SCP-111 injection by June 30, 2027 (Milestone 1) and $110M+ net sales of specified products by Dec 31, 2026 (Milestone 2).
- Principal stockholders holding ~11.5% of SCPH shares have agreed to tender and support the deal.
- MannKind obtained $175M incremental delayed draw term loan from Blackstone to finance transaction costs; will repay ~$81M of SCPH's Perceptive debt upon close.
- Strategic rationale: acquisition of FUROSCIX (approved for heart failure and chronic kidney disease) to expand into cardiorenal medicine.

## SEC filing metadata
- accession: 0001193125-25-186994
- form_type: 8-K
- ticker: MNKD
- cik: 0000899460
- company_name: MANNKIND CORP
- filed_at: 2025-08-25T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 1.01, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/899460/000119312525186994/0001193125-25-186994-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/899460/000119312525186994/d931701d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-25-186994
- JSON: https://secwatch.observer/filing/0001193125-25-186994.json
- Plain text: https://secwatch.observer/filing/0001193125-25-186994.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.