secwatch.observer — SEC 8-K summary
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Issuer:     SOLENO THERAPEUTICS INC (SLNO)
CIK:        0001484565
Form:       8-K
Filed at:   2026-04-06T23:59:59+00:00
Accession:  0001193125-26-142911
Event type: m_and_a
Sentiment:  positive
Materiality: 1.00
Item codes: 1.01, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Neurocrine to acquire Soleno for $53.00/share in $2.9B all-cash transaction
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- Deal price $53.00 per share; total equity value ~$2.9B; Soleno board recommends shareholders tender.
- VYKAT XR generated $190M revenue in 2025, including $92M in Q4 2025; IP expected to extend to mid-2040s.
- Conditions include tender of >50% of shares, HSR clearance, no material adverse effect, and customary representations.
- Termination fee: $95.25M from Soleno under certain circumstances; $141.5M from Neurocrine if antitrust blocks deal.
- Principal stockholders holding ~1.01% of shares have agreed to tender and vote in favor via support agreements.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1484565/000119312526142911/0001193125-26-142911-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1484565/000119312526142911/d142985d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-26-142911

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer