---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-25-315108"
form_type: "8-K"
ticker: "CLYM"
cik: "0001768446"
company_name: "Climb Bio, Inc."
filed_at: "2025-12-11T23:59:59+00:00"
generated_at: "2026-05-16T13:31:44.918481+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Climb Bio exchanges 20.44M shares for pre-funded warrants; RA Capital voting capped at 33%

## Summary
- Exchanged 20,440,000 shares for pre-funded warrants with $0.0001 exercise price via Section 3(a)(9) exemption.
- Post-exchange shares outstanding: 47,744,435; RA Capital to own ~23% voting power.
- RA Capital and affiliates agree to vote any holdings above 33% proportionally with other stockholders.
- RA Capital may exchange additional shares for warrants with company's written consent.
- Pre-funded warrants are exercisable immediately and include a 33% beneficial ownership limitation.

## SEC filing metadata
- accession: 0001193125-25-315108
- form_type: 8-K
- ticker: CLYM
- cik: 0001768446
- company_name: Climb Bio, Inc.
- filed_at: 2025-12-11T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 3.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1768446/000119312525315108/0001193125-25-315108-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1768446/000119312525315108/d48098d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-25-315108
- JSON: https://secwatch.observer/filing/0001193125-25-315108.json
- Plain text: https://secwatch.observer/filing/0001193125-25-315108.txt

## Key facts
- Material Agreements
  Climb Bio, Inc. entered into Exchange Agreement with RA Capital Management, L.P. and an entity affiliated with RA Capital (effective 2025-12-11).
  - Action: entry
  - Agreement: equity purchase
  - Counterparty: RA Capital Management, L.P. and an entity affiliated with RA Capital
  - Effective: 2025-12-11
  source text: On December 11, 2025, Climb Bio, Inc. (the “Company”) entered into an exchange agreement (the “Exchange Agreement”) with RA Capital Management, L.P. (“RA Capital”) and an entity affiliated with RA Capital (the “Exchanging Stockholder”), pursuant to which the Exchanging Stockholder agreed to exchange (the “Exchange”) an aggregate of 20,440,000 shares of the Company’s common stock
  evidence_url: https://www.sec.gov/Archives/edgar/data/1768446/000119312525315108/0001193125-25-315108-index.htm

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