{"schema_version":"secwatch.filing_event.v1","accession":"0001193125-25-249438","form_type":"8-K","ticker":null,"cik":"0001501756","company_name":"Adverum Biotechnologies, Inc.","filed_at":"2025-10-24T23:59:59+00:00","discovered_at":"2026-05-14T18:02:39.572417+00:00","generated_at":"2026-05-17T02:19:52.145196+00:00","sec_items":["1.01","2.03","7.01","9.01"],"event_type":"m_and_a","sentiment":"positive","materiality_score":1.0,"calibrated_materiality_score":1.0,"confidence":"high","headline":"Adverum Biotechnologies to be acquired by Eli Lilly for $3.56/sh plus CVRs worth up to $8.91/sh","bullets":["Acquisition price: $3.56 per share cash plus one non-tradable CVR per share with potential payments up to $8.91 upon milestones.","CVR milestones: $1.78/sh upon US regulatory approval for wet AMD (ADVM-022) by year 7; $7.13/sh if annual net sales exceed $1B by year 10.","Eli Lilly provides $65M secured promissory note (SOFR+10%) with up to four advances through Dec 2025, maturing Jan 22, 2026.","Merger via tender offer followed by Section 251(h) merger without stockholder vote; minimum tender condition of majority of shares.","Adverum Board unanimously recommends tendering shares; termination fee of $4M payable by Adverum under certain circumstances."],"urls":{"canonical":"https://secwatch.observer/filing/0001193125-25-249438","json":"https://secwatch.observer/filing/0001193125-25-249438.json","markdown":"https://secwatch.observer/filing/0001193125-25-249438.md","text":"https://secwatch.observer/filing/0001193125-25-249438.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1501756/000119312525249438/0001193125-25-249438-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1501756/000119312525249438/d70157d8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-17T02:19:52.145196+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":"c487752980bb341c3956016bed6ee0f8486bf52e","claim":"Adverum Biotechnologies, Inc. incurred loan.","evidence_excerpt":"Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. The information set forth in Item 1.01 of this report under the caption titled “Secured Promissory Note”, including Exhibit 10.1 attached hereto, is incorporated by reference in this Item 2.03.","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1501756/000119312525249438/0001193125-25-249438-index.htm","confidence":0.7,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"loan"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}