---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-24-023301"
form_type: "8-K"
ticker: "PVLA"
cik: "0001583648"
company_name: "PALVELLA THERAPEUTICS, INC."
filed_at: "2024-07-24T23:59:59+00:00"
generated_at: "2026-05-31T16:57:05.423256+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.9
calibrated_materiality_score: 0.9
confidence: "high"
source: SEC EDGAR
---

# Pieris to merge with Palvella in all-stock deal; Palvella holders to own 82%; PIPE raises $78.9M

## Summary
- Merger values Pieris at ~$21M and Palvella at ~$95M; pre-PIPE, Pieris stockholders hold ~18% of combined company.
- PIPE financing of ~$78.9M led by BVF Partners; investors buy ~3.15M shares plus pre-funded warrants.
- Each Pieris share receives one CVR entitling holders to future milestones/royalties from legacy partnered assets.
- Chief Development Officer Shane Olwill to depart effective Oct 31, 2024; receives €417,800 severance.
- Combined board to have 5 directors: 4 from Palvella (Kaupinen, Davis, Jenkins, Wessel), 1 from Pieris (Kiritsy).

## SEC filing metadata
- accession: 0001437749-24-023301
- form_type: 8-K
- ticker: PVLA
- cik: 0001583648
- company_name: PALVELLA THERAPEUTICS, INC.
- filed_at: 2024-07-24T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.9
- calibrated_materiality_score: 0.9
- confidence: high
- sec_items: 1.01, 3.02, 5.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1583648/000143774924023301/0001437749-24-023301-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1583648/000143774924023301/pirs20240722_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-24-023301
- JSON: https://secwatch.observer/filing/0001437749-24-023301.json
- Plain text: https://secwatch.observer/filing/0001437749-24-023301.txt

## Key facts
- Executive change
  Shane Olwill departed as Senior Vice President and Chief Development Officer at PALVELLA THERAPEUTICS, INC..
  - Action: stepped down
  - Role: Senior Vice President and Chief Development Officer
  source text: Pieris and Shane Olwill, Ph.D., Pieris’ Senior Vice President and Chief Development Officer, mutually agreed that in connection with the signing of the Merger Agreement, Dr. Olwill would step down effective October 31, 2024.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1583648/000143774924023301/0001437749-24-023301-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.