secwatch.observer — SEC 8-K summary
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Issuer:     Pasithea Therapeutics Corp. (KTTA)
CIK:        0001841330
Form:       8-K
Filed at:   2022-06-22T23:59:59+00:00
Accession:  0001213900-22-034341
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 2.01, 3.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Pasithea acquires Alpha-5 integrin in $3.75M stock-and-warrant deal for ALS/neurology pipeline
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- Pasithea acquires all equity of Alpha-5; total consideration: 3,260,870 shares of KTTA common stock at $1.15/share (11% premium to June 21 close) plus 1M warrants at $1.88 exercise price for 5 years.
- Alpha-5 holds preclinical-stage anti-alpha-5 integrin mAb targeting ALS, MS, and other neuroinflammatory disorders; IND filing expected by end of 2023.
- Contingent earn-out of 2%–4% of net sales from Alpha-5's drug candidate if commercialized.
- Lawrence Steinman, Pasithea's Chairman and co-founder and minority Alpha-5 owner, recused from vote; deal approved by disinterested directors.
- Paul B. Manning (Alpha-5 majority owner) will own approximately 10% of Pasithea post-closing.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1841330/000121390022034341/0001213900-22-034341-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1841330/000121390022034341/ea161902-8k_pasithea.htm
  HTML page:      https://secwatch.observer/filing/0001213900-22-034341

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