secwatch.observer — SEC 8-K summary
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Issuer:     Apellis Pharmaceuticals, Inc. (APLS)
CIK:        0001492422
Form:       8-K
Filed at:   2026-03-31T23:59:59+00:00
Accession:  0001193125-26-134916
Event type: m_and_a
Sentiment:  positive
Materiality: 0.90
Item codes: 1.01, 5.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Biogen to acquire Apellis for $41/share plus CVRs up to $4, total up to $45/share
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- Biogen to pay $41.00 per share cash upfront plus one CVR per share for Apellis (APLS).
- CVRs entitle holders to up to $4.00/share based on SYFOVRE net sales milestones ($1.5B or $2B).
- Tender offer to commence for all shares; no stockholder vote required; minimum condition >50% tendered.
- Support stockholders owning ~14% of shares agree to tender; termination fee $205M under certain conditions.
- Apellis board unanimously recommends; deal expected to close by Sept 30, 2026.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1492422/000119312526134916/0001193125-26-134916-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1492422/000119312526134916/d132653d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-26-134916

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