8-K filed October 9, 2025, 7:59 PM ET ticker MNKD CIK 0000899460

M&A confidence high sentiment neutral materiality 0.85

MannKind completes $296.5M acquisition of scPharmaceuticals; funds with $250M debt

MANNKIND CORP

Tender offer expired Oct 6 with 73.47% shares tendered; merger closed Oct 7, 2025; scPharma becomes wholly owned subsidiary.
scPharma shareholders received $5.35 cash plus one CVR per share; CVR pays up to $1.00 additional contingent on milestones.
Aggregate cash paid ~$296.5M for shares; extinguished ~$82.6M scPharma debt (Perceptive credit and revenue participation).
Funded via $250M delayed draw term loan under amended Blackstone credit facility; interest SOFR+4.75%, matures Aug 2030.
CVR Milestone 1: FDA approval of SCP-111 autoinjector by June 2027 ($0.25-$0.75); Milestone 2: net sales $110M-$120M by Dec 2026.

item 1.01 item 2.01 item 2.03 item 9.01

Machine-readable event card

schema_version: secwatch.filing_event.v1
accession: 0001193125-25-236064
form_type: 8-K
ticker: MNKD
cik: 0000899460
company_name: MANNKIND CORP
filed_at: 2025-10-09T23:59:59+00:00
discovered_at: 2026-05-14T18:02:42.545098+00:00
generated_at: 2026-05-17T04:17:06.392556+00:00
sec_items: ["1.01", "2.01", "2.03", "9.01"]
event_type: m_and_a
sentiment: neutral
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: high
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Source-grounded claims

1dcda78bd4f88c8a0ca672fcd4c032d1b8f382f0

MANNKIND CORP incurred credit facility of $250.0 million with Blackstone Alternative Credit Advisors LP (as Blackstone Representative) at one, three or six month term SOFR (at the Company’s election), subject to a 2% f maturing August 6, 2030.

On October 7, 2025, the Company borrowed $250.0 million in delayed draw term loans to fund the Acquisition Price and the scPharma Debt Extinguishment.

SEC 8-K Item 2.03/2.04 confidence 0.9 SEC evidence

6a51d5692f5c21be64bfceaa608aa13b93ebebd4

MANNKIND CORP amended credit facility of additional $175.0 million incremental delayed draw term loan with Blackstone Alternative Credit Advisors LP (as Blackstone Representative) at one, three or six month term SOFR (at the Company’s election), subject to a 2% f maturing August 6, 2030.

Pursuant to the Credit Agreement Amendment, among other things, the Lenders agreed to provide an additional $175.0 million incremental delayed draw term loan solely to finance a portion of the fees, premiums, expenses and other transaction costs incurred in connection with the transactions contemplated by the Merger Agreement

SEC 8-K Item 2.03/2.04 confidence 0.9 SEC evidence

efe887e24d69c16f5fd1ae478e5b8fa22cf23c7c

MANNKIND CORP completed an acquisition involving scPharmaceuticals Inc. for approximately $296.5 million (closed 2025-10-07).

Share outstanding immediately prior to the Effective Time. The aggregate cash paid by the Company and Purchaser in the Offer and the Merger at the Closing Date was approximately $296.5 million (the “ Acquisition Price ”), which was funded by the Company from its available cash on hand and net proceeds from borrowings under its Credit Agreement (as defined below). As

SEC 8-K Item 2.01/5.01 confidence 0.9 SEC evidence

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Source: SEC EDGAR

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