{"schema_version":"secwatch.filing_event.v1","accession":"0001193125-26-389318","form_type":"8-K","ticker":"CYCN","cik":"0001755237","company_name":"Cyclerion Therapeutics, Inc.","filed_at":"2026-09-11T20:25:17+00:00","discovered_at":"2026-09-11T20:26:00.356976+00:00","generated_at":"2026-09-11T20:26:12.340361+00:00","sec_items":["1.01","2.01","5.02","9.01","2.02","3.02","3.03","5.01","5.03","5.05","5.06","7.01"],"event_type":"m_and_a","sentiment":"positive","materiality_score":1.0,"calibrated_materiality_score":1.0,"confidence":"high","headline":"Korsana (ex-Cyclerion) closes reverse merger with $380M PIPE; exchange ratio 0.2074","bullets":["Closed Sept 8, 2026; exchange ratio 0.2074 Cyclerion shares per Korsana share; renamed Korsana Biosciences.","PIPE financing raised ~$380M; 140.5M shares and 20.2M pre-funded warrants issued to investors pre-closing.","Post-closing ownership: Cyclerion holders ~1.17%, Korsana holders ~98.83% fully diluted.","1-for-7 reverse stock split effective Sept 8; combined company had 55,051,271 shares outstanding (incl. prefunded warrants and Series B).","Pre-merger Cyclerion shareholders receive one non-transferable CVR per share for 100% of net proceeds from sale of legacy Tisento and Akebia license assets."],"urls":{"canonical":"https://secwatch.observer/filing/0001193125-26-389318","json":"https://secwatch.observer/filing/0001193125-26-389318.json","markdown":"https://secwatch.observer/filing/0001193125-26-389318.md","text":"https://secwatch.observer/filing/0001193125-26-389318.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1755237/000119312526389318/0001193125-26-389318-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1755237/000119312526389318/d178159d8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-09-11T20:26:12.340361+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":[],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}