secwatch.observer — SEC 8-K summary
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Issuer:     NVN Liquidation, Inc. (—)
CIK:        0001467154
Form:       8-K
Filed at:   2023-09-27T23:59:59+00:00
Accession:  0001467154-23-000109
Event type: m_and_a
Sentiment:  negative
Materiality: 1.00
Item codes: 2.01, 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Novan completes sale of R&D business and Sitavig to Ligand for $12.15M; common stock likely worthless
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1467154/000146715423000109/0001467154-23-000109-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1467154/000146715423000109/novn-20230927.htm
  HTML page:      https://secwatch.observer/filing/0001467154-23-000109

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