--- schema_version: "secwatch.filing_event.v1" accession: "0001493152-21-026649" form_type: "8-K" ticker: "SABS" cik: "0001833214" company_name: "SAB Biotherapeutics, Inc." filed_at: "2021-10-28T23:59:59+00:00" generated_at: "2026-06-28T16:58:13.242144+00:00" event_type: "m_and_a" sentiment: "neutral" materiality_score: 0.85 calibrated_materiality_score: 0.85 confidence: "high" source: SEC EDGAR --- # SAB Biotherapeutics completes de-SPAC merger; OLD SAB valued at $300M ## Summary - OLD SAB equity value set at $300M; conversion rate $10.10 per share. - Holders of 8,030,289 BCYP shares redeemed for ~$81.1M at ~$10.10/share. - Approximately $21.9M released to Company upon closing; $13.1M escrowed with Radcliffe. - Post-merger shares outstanding: 43,474,779; additional 12M earnout shares tied to stock price milestones. - Board set at 7 members; CFO Russell Beyer gets new employment agreement ($300K base, stock options). ## SEC filing metadata - accession: 0001493152-21-026649 - form_type: 8-K - ticker: SABS - cik: 0001833214 - company_name: SAB Biotherapeutics, Inc. - filed_at: 2021-10-28T23:59:59+00:00 - event_type: m_and_a - sentiment: neutral - materiality_score: 0.85 - calibrated_materiality_score: 0.85 - confidence: high - sec_items: 1.01, 2.01, 9.01, 3.02, 4.01, 5.03, 5.01, 5.02, 5.06 - EDGAR index: https://www.sec.gov/Archives/edgar/data/1833214/000149315221026649/0001493152-21-026649-index.htm - EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1833214/000149315221026649/form8-k.htm ## Machine-readable alternates - HTML: https://secwatch.observer/filing/0001493152-21-026649 - JSON: https://secwatch.observer/filing/0001493152-21-026649.json - Plain text: https://secwatch.observer/filing/0001493152-21-026649.txt ## Key facts - Executive change Jeffrey G. Spragens was appointed as Director at SAB Biotherapeutics, Inc.. - Action: appointed - Role: Director source text: Jeffrey G. Spragens 79 Class II Director evidence_url: https://www.sec.gov/Archives/edgar/data/1833214/000149315221026649/0001493152-21-026649-index.htm - Executive change William Polvino was appointed as Director at SAB Biotherapeutics, Inc.. - Action: appointed - Role: Director source text: William Polvino, MD 61 Class I Director evidence_url: https://www.sec.gov/Archives/edgar/data/1833214/000149315221026649/0001493152-21-026649-index.htm - Executive change Christine Hamilton was appointed as Director at SAB Biotherapeutics, Inc.. - Action: appointed - Role: Director source text: Christine Hamilton, MBA 65 Class III Director evidence_url: https://www.sec.gov/Archives/edgar/data/1833214/000149315221026649/0001493152-21-026649-index.htm - Executive change Thomas Luke was appointed as Chief Medical Officer at SAB Biotherapeutics, Inc.. - Action: appointed - Role: Chief Medical Officer source text: Thomas Luke, MD 59 Chief Medical Officer evidence_url: https://www.sec.gov/Archives/edgar/data/1833214/000149315221026649/0001493152-21-026649-index.htm - Executive change Samuel J. Reich was appointed as Executive Chairman at SAB Biotherapeutics, Inc.. - Action: appointed - Role: Executive Chairman source text: Samuel J. Reich 46 Class III Director and Executive Chairman of the Board evidence_url: https://www.sec.gov/Archives/edgar/data/1833214/000149315221026649/0001493152-21-026649-index.htm - Executive change Samuel J. Reich departed as Executive Officer at SAB Biotherapeutics, Inc.. - Action: ceased - Role: Executive Officer source text: Effective upon the Closing, each of James Martin, Ilan Katz and Stephen D. Collins, MD, PhD. ceased serving as a director of BCYP and Samuel J. Reich ceased serving as an executive officer of BCYP. evidence_url: https://www.sec.gov/Archives/edgar/data/1833214/000149315221026649/0001493152-21-026649-index.htm - Executive change Charles H. Randall, Jr. was appointed as Chief Strategy Officer at SAB Biotherapeutics, Inc.. - Action: appointed - Role: Chief Strategy Officer source text: Charles H. Randall, Jr., MBA 58 Chief Strategy Officer evidence_url: https://www.sec.gov/Archives/edgar/data/1833214/000149315221026649/0001493152-21-026649-index.htm - Executive change Ilan Katz departed as Director at SAB Biotherapeutics, Inc.. - Action: ceased - Role: Director source text: Effective upon the Closing, each of James Martin, Ilan Katz and Stephen D. Collins, MD, PhD. ceased serving as a director of BCYP and Samuel J. Reich ceased serving as an executive officer of BCYP. evidence_url: https://www.sec.gov/Archives/edgar/data/1833214/000149315221026649/0001493152-21-026649-index.htm - Executive change Eddie J. Sullivan was appointed as President and Chief Executive Officer at SAB Biotherapeutics, Inc.. - Action: appointed - Role: President and Chief Executive Officer source text: Eddie J. Sullivan, PhD 55 Class III Director, President and Chief Executive Officer evidence_url: https://www.sec.gov/Archives/edgar/data/1833214/000149315221026649/0001493152-21-026649-index.htm - Executive change David Link was appointed as Director at SAB Biotherapeutics, Inc.. - Action: appointed - Role: Director source text: David Link 66 Class II Director evidence_url: https://www.sec.gov/Archives/edgar/data/1833214/000149315221026649/0001493152-21-026649-index.htm - Executive change Mervyn Turner was appointed as Director at SAB Biotherapeutics, Inc.. - Action: appointed - Role: Director source text: Mervyn Turner, PhD 74 Class I Director evidence_url: https://www.sec.gov/Archives/edgar/data/1833214/000149315221026649/0001493152-21-026649-index.htm - Executive change James Martin departed as Director at SAB Biotherapeutics, Inc.. - Action: ceased - Role: Director source text: Effective upon the Closing, each of James Martin, Ilan Katz and Stephen D. Collins, MD, PhD. ceased serving as a director of BCYP and Samuel J. Reich ceased serving as an executive officer of BCYP. evidence_url: https://www.sec.gov/Archives/edgar/data/1833214/000149315221026649/0001493152-21-026649-index.htm - Executive change Russell Beyer was appointed as Chief Financial Officer at SAB Biotherapeutics, Inc.. - Action: appointed - Role: Chief Financial Officer source text: Russell Beyer 66 Chief Financial Officer evidence_url: https://www.sec.gov/Archives/edgar/data/1833214/000149315221026649/0001493152-21-026649-index.htm - Executive change Stephen D. Collins departed as Director at SAB Biotherapeutics, Inc.. - Action: ceased - Role: Director source text: Effective upon the Closing, each of James Martin, Ilan Katz and Stephen D. Collins, MD, PhD. ceased serving as a director of BCYP and Samuel J. Reich ceased serving as an executive officer of BCYP. evidence_url: https://www.sec.gov/Archives/edgar/data/1833214/000149315221026649/0001493152-21-026649-index.htm This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.