{"schema_version":"secwatch.filing_event.v1","accession":"0001213900-26-117213","form_type":"8-K","ticker":"CRMD","cik":"0001410098","company_name":"CorMedix Inc.","filed_at":"2026-11-09T12:49:44+00:00","discovered_at":"2026-11-09T12:55:00.274520+00:00","generated_at":"2026-11-09T12:55:30.682916+00:00","sec_items":["1.01","2.03","3.02","7.01","9.01"],"event_type":"m_and_a","sentiment":"positive","materiality_score":0.85,"calibrated_materiality_score":0.85,"confidence":"high","headline":"CorMedix to acquire Heron Therapeutics assets for $145M cash plus 14.58M shares","bullets":["CorMedix and Heron signed an asset purchase agreement on Nov. 8, 2026; CorMedix will buy substantially all Heron assets and assume specified liabilities.","Consideration: $145.0M cash (subject to working-capital adjustments; $2.0M escrow) and 14,583,333 CRMD shares; post-closing adjustments capped at $10.0M either way.","Heron also gets 5.0% royalties on 2027-2029 annual net sales above $25M for CINVANTI, SUSTOL and multi-product license products; ZYNRELEF earn-outs $25M at $65M 2028 sales and $30M more at $95M.","Financing: $150M senior secured term loan from Pharmakon/BioPharma Credit; $75M Tranche A funds the deal, up to $75M Tranche B for acquisitions; SOFR floor 3.50% + 5.75%, five-year maturity, 1.5% fee.","Heron stockholder majority approval and HSR clearance are required; no CorMedix vote; Rubric, Velan funds and Heron directors/officers (~22%) signed support agreements; $4.0M termination fee."],"urls":{"canonical":"https://secwatch.observer/filing/0001213900-26-117213","json":"https://secwatch.observer/filing/0001213900-26-117213.json","markdown":"https://secwatch.observer/filing/0001213900-26-117213.md","text":"https://secwatch.observer/filing/0001213900-26-117213.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1410098/000121390026117213/0001213900-26-117213-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1410098/000121390026117213/ea0311423-8k_cormedix.htm"},"model":{"generated_by":"deepseek-v4.1-flash:cloud@v2","generated_at":"2026-11-09T12:55:30.682916+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"}