---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-25-257616"
form_type: "8-K"
ticker: null
cik: "0001785173"
company_name: "89bio, Inc."
filed_at: "2025-10-30T23:59:59+00:00"
generated_at: "2026-05-17T01:23:51.491840+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 1.0
calibrated_materiality_score: 1.0
confidence: "high"
source: SEC EDGAR
---

# Roche completes acquisition of 89bio for $14.50/share + CVR; stock to be delisted

## Summary
- Total cash consideration $14.50 per share plus one CVR worth up to $6.00 per share.
- 94.1M shares validly tendered (60.49%) plus 42.5M shares via guaranteed delivery (27.31%).
- Merger closed October 30; company becomes wholly owned by Roche; Nasdaq delisting requested.
- Loan agreement with K2 HealthVentures terminated and fully paid at closing.
- Board and officers replaced; transaction bonuses for three executives: $75k, $250k, $300k.

## SEC filing metadata
- accession: 0001193125-25-257616
- form_type: 8-K
- cik: 0001785173
- company_name: 89bio, Inc.
- filed_at: 2025-10-30T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 1.0
- calibrated_materiality_score: 1.0
- confidence: high
- sec_items: 1.02, 2.01, 3.01, 3.03, 5.01, 5.02, 5.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1785173/000119312525257616/0001193125-25-257616-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1785173/000119312525257616/d48446d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-25-257616
- JSON: https://secwatch.observer/filing/0001193125-25-257616.json
- Plain text: https://secwatch.observer/filing/0001193125-25-257616.txt

## Source-grounded claims
- claim_id: 46c4dfdd37cc3fbca783085aee9ba8c5119ef96d
  claim: 89bio, Inc. completed an acquisition involving Roche Holdings, Inc. for $14.50 per share in cash plus one non-tradeable contingent value right (CVR) per share representing the right to receive contingent payments of up to an aggrega (closed 2025-10-30).
  evidence_excerpt: 1, 2025, Merger Sub commenced a tender offer to purchase all of the outstanding shares (the “ Shares ”) of common stock, par value $0.001 per share, of the Company, for (i) $14.50 per Share, in cash, without interest (the “ Closing Amount ”) less any required withholding taxes, plus (ii) one non-tradeable contingent value right (each, a “ CVR ”) per Share,
  evidence_url: https://www.sec.gov/Archives/edgar/data/1785173/000119312525257616/0001193125-25-257616-index.htm

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