First Tracks Biotherapeutics, Inc. (TRAX): M&A transaction — First Tracks Biotherapeutics completes spin-off from AnaptysBio and raises ~$80M in private placement

First Tracks Biotherapeutics, Inc.

Spin-off effective April 20, 2026; AnaptysBio holders received one First Tracks share per AnaptysBio share held on April 6 record date.
Private placement of ~10.5M shares at $13.81: company issued 5.79M shares (~$80M proceeds) and selling stockholder sold 4.71M shares.
Entered Separation and Distribution and Transition Services Agreements with AnaptysBio to govern asset/liability split and post-spin operations.
First Tracks received $100M cash and rights to up to $35M in milestone payments from Vanda Pharmaceuticals collaboration.

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Key facts

Extracted from this filing and checked against the source text.

Equity Issuances SEC 8-K Item 3.02/3.03 confidence 0.9

First Tracks Biotherapeutics, Inc. issued 29,100,802 shares of Common Stock of common stock to AnaptysBio.

Security: common stock
Shares: 29,100,802 shares of Common Stock
Purchaser: AnaptysBio

Exact text from the filing

the Company issued 29,100,802 shares of Common Stock to AnaptysBio in consideration for the transfer of certain entities that are part of AnaptysBio's biopharma business.

View on SEC.gov

Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

First Tracks Biotherapeutics, Inc.: Amended and Restated Certificate of Incorporation became effective in connection with the Spin-Off.

Change: charter amendment

Exact text from the filing

We filed an Amended and Restated Certificate of Incorporation (the “Charter”) with the Secretary of State of the State of Delaware, which became effective in connection with the Spin-Off.

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Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

First Tracks Biotherapeutics, Inc.: Bylaws became effective in connection with the Spin-Off.

Change: bylaw amendment

Exact text from the filing

Our Bylaws (the “Bylaws”) also became effective in connection with the Spin-Off.

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M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.95

First Tracks Biotherapeutics, Inc. completed a disposition involving AnaptysBio, Inc. (closed 2026-04-20).

Action: disposition
Counterparty: AnaptysBio, Inc.
Closing: 2026-04-20

Exact text from the filing

On the Distribution Date, AnaptysBio completed the Spin-Off.

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

First Tracks Biotherapeutics, Inc. entered into Transition Services Agreement with AnaptysBio.

Action: entry
Agreement: supply
Counterparty: AnaptysBio

Exact text from the filing

the Company entered into a Separation and Distribution Agreement and a Transition Services Agreement (collectively, the "Spin Agreements") with AnaptysBio

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

First Tracks Biotherapeutics, Inc. entered into Separation and Distribution Agreement with AnaptysBio.

Action: entry
Agreement: supply
Counterparty: AnaptysBio

Exact text from the filing

the Company entered into a Separation and Distribution Agreement and a Transition Services Agreement (collectively, the "Spin Agreements") with AnaptysBio

View on SEC.gov

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First Tracks Biotherapeutics, Inc. filing history →

Source: SEC EDGAR

accession 0001193125-26-164328

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