{"schema_version":"secwatch.filing_event.v1","accession":"0001193125-26-134889","form_type":"8-K","ticker":"BIIB","cik":"0000875045","company_name":"BIOGEN INC.","filed_at":"2026-03-31T23:59:59+00:00","discovered_at":"2026-05-14T18:02:37.877374+00:00","generated_at":"2026-05-15T08:18:56.546731+00:00","sec_items":["1.01","8.01","9.01"],"event_type":"m_and_a","sentiment":"positive","materiality_score":0.85,"calibrated_materiality_score":0.85,"confidence":"high","headline":"Biogen to acquire Apellis for $41/share plus up to $4 CVR per share","bullets":["Upfront cash consideration of $41.00 per Apellis share; one CVR per share entitling holders to up to $4.00 additional.","CVR milestones: $2.00 if SYFOVRE annual net sales reach $1.5B; $2.00 if $2.0B achieved, with potential $4.00 single payment.","Tender offer condition requires >50% shares tendered; termination fee of $205M payable by Apellis in certain circumstances.","Stockholders representing ~14% of Apellis shares entered support agreement to tender in favor.","Transaction expected to close by September 30, 2026, subject to regulatory approvals and other conditions."],"urls":{"canonical":"https://secwatch.observer/filing/0001193125-26-134889","json":"https://secwatch.observer/filing/0001193125-26-134889.json","markdown":"https://secwatch.observer/filing/0001193125-26-134889.md","text":"https://secwatch.observer/filing/0001193125-26-134889.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/875045/000119312526134889/0001193125-26-134889-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/875045/000119312526134889/d14986d8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-15T08:18:56.546731+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":"4a09f683f3e36c6f163ff9173d8eece720a1b007","claim":"BIOGEN INC. entered into Merger Agreement with Apellis Pharmaceuticals, Inc. valued at $41.00 per share of Apellis Common Stock (effective 2026-03-31).","evidence_excerpt":"On March 31, 2026, Biogen Inc., a Delaware corporation (“Biogen”), entered into an Agreement and Plan of Merger (the “Merger Agreement”) with Apellis Pharmaceuticals, Inc., a Delaware corporation (“Apellis”), and Aspen Purchaser Sub, Inc., a Delaware corporation and a wholly owned subsidiary of Biogen (“Purchaser”).","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/875045/000119312526134889/0001193125-26-134889-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"merger"},{"label":"Counterparty","value":"Apellis Pharmaceuticals, Inc."},{"label":"Value","value":"$41.00 per share of Apellis Common Stock"},{"label":"Effective","value":"2026-03-31"}]}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}