Bolt Biotherapeutics acquires Prana in reverse merger; raises $120M PIPE, Prana holders to own 51.7% post-financing

Bolt Biotherapeutics, Inc.

Bolt acquired Prana on Oct. 23, 2026; Prana holders received 430,746 BOLT shares plus 16,360.929 Series D preferred shares convertible into 1,000 common each.
Pre-transaction Bolt holders fall to ~11.8% pre-financing and ~6.9% post-financing; Prana holders ~88.2% then ~51.7%; PIPE investors ~41.4%.
$120M PIPE sale of 13,995.311 Series D preferred shares plus warrants for 50% more, expected to close Oct. 26, 2026; full warrant exercise would add ~$60M gross.
Series D pays as-if-converted dividends, has no general voting rights but must approve specified actions; votes cover conversion, Nasdaq proposals, charter amendment, 1:2-1:12 reverse split.
Lease termination triggers $4.5M payment to HCP LS Redwood City; Dr. Sheila Gujrathi joins board and becomes Chief Strategy Officer.

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Appointed

Sheila Gujrathi

Class II director

BOLT · Bolt Biotherapeutics, Inc.

Effective: 2026-10-23
Filed: October 23, 2026, 10:31 AM ET

In accordance with the Merger Agreement, on October 23, 2026, effective immediately after the First Effective Time, Dr. Sheila Gujrathi was appointed to the Board as a Class II director of the Board.

Key facts

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Executive change SEC 8-K Item 5.02 confidence 0.95

Sheila Gujrathi was appointed as Class II director at Bolt Biotherapeutics, Inc..

Action: appointed
Role: Class II director

Exact text from the filing

In accordance with the Merger Agreement, on October 23, 2026, effective immediately after the First Effective Time, Dr. Sheila Gujrathi was appointed to the Board as a Class II director of the Board.

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Bolt Biotherapeutics, Inc. filing history →

Source: SEC EDGAR

accession 0001193125-26-429647

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