{"schema_version":"secwatch.filing_event.v1","accession":"0001467154-23-000109","form_type":"8-K","ticker":null,"cik":"0001467154","company_name":"NVN Liquidation, Inc.","filed_at":"2023-09-27T23:59:59+00:00","discovered_at":"2026-05-14T18:03:34.008446+00:00","generated_at":"2026-06-10T08:09:23.213936+00:00","sec_items":["2.01","5.02","9.01"],"event_type":"m_and_a","sentiment":"negative","materiality_score":1.0,"calibrated_materiality_score":1.0,"confidence":"high","headline":"Novan completes sale of R&D business and Sitavig to Ligand for $12.15M; common stock likely worthless","bullets":["Sale of substantially all R&D assets and Sitavig to Ligand for $12.15M cash closed on September 27, 2023.","Bankruptcy Court approved the amended asset purchase agreement on September 12, 2023.","Company warns common stock will likely be cancelled; holders expected to receive no proceeds.","CFO John M. Gay resigned; all employees terminated; CEO and COO retain officer roles.","Stock trades on OTC under NOVNQ after Nasdaq delisting on September 8, 2023."],"urls":{"canonical":"https://secwatch.observer/filing/0001467154-23-000109","json":"https://secwatch.observer/filing/0001467154-23-000109.json","markdown":"https://secwatch.observer/filing/0001467154-23-000109.md","text":"https://secwatch.observer/filing/0001467154-23-000109.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1467154/000146715423000109/0001467154-23-000109-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1467154/000146715423000109/novn-20230927.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-10T08:09:23.213936+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":[{"claim_id":"67c363b15380279a2992d33372af6529fb48fa5a","claim":"NVN Liquidation, Inc. completed a disposition involving Ligand Pharmaceuticals Incorporated for $12.15 million in cash at closing (closed 2023-09-27).","evidence_excerpt":"the assets related to the Company’s R&D business and the assets related to Sitavig® (acyclovir 50mg buccal tablets) owned by EPI Health and assumption of certain liabilities for $12.15 million in cash at closing (the “A&R Asset Purchase Agreement”). A copy of the A&R Asset Purchase Agreement was filed as Exhibit 10.2 to the Company’s Current Report on Form 8-K filed","evidence_source":"SEC 8-K Item 2.01/5.01","evidence_url":"https://www.sec.gov/Archives/edgar/data/1467154/000146715423000109/0001467154-23-000109-index.htm","confidence":0.9,"family_label":"M&A Transactions","details":[{"label":"Action","value":"disposition"},{"label":"Counterparty","value":"Ligand Pharmaceuticals Incorporated"},{"label":"Consideration","value":"$12.15 million in cash at closing"},{"label":"Closing","value":"2023-09-27"}],"fact_type":"ma_transaction"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}