VERU INC. (VERU): M&A transaction — Veru Inc. sells FC2 female condom business for $18M, netting ~$12.5M after change-of-control payment

VERU INC.

Sold FC2 female condom business to Clear Future, Inc., for $18M cash, subject to working capital adjustment.
Net proceeds to Veru approximately $12.5M after $4.2M change-of-control payment to SWK Funding LLC.
Royalty Agreement with SWK terminated upon payment; related $9.9M liability extinguished.
Headcount reduced by ~90% (from 210 to 22) as Veru focuses on biopharmaceutical pipeline.
Topline results from Phase 2b enobosarm weight loss trial expected in January 2025.

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Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.99

VERU INC. completed a disposition involving Clear Future, Inc. for $18.0 million in cash, subject to customary working capital adjustment (closed 2024-12-30).

Action: disposition
Counterparty: Clear Future, Inc.
Consideration: $18.0 million in cash, subject to customary working capital adjustment
Closing: 2024-12-30

Exact text from the filing

relating to the FC2 business that are specified in the Purchase Agreement. The transaction closed on December 30, 2024. The purchase price for the FC2 Business Sale is $18.0 million in cash, subject to adjustment as set forth in the Purchase Agreement. The adjustments to the purchase price in the Purchase Agreement include a customary working capital

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Source: SEC EDGAR

accession 0001437749-25-000208

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