secwatch.observer — SEC 8-K summary
======================================

Issuer:     Ayala Pharmaceuticals, Inc. (—)
CIK:        0001797336
Form:       8-K
Filed at:   2023-01-25T23:59:59+00:00
Accession:  0001493152-23-002463
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.75
Item codes: 2.01, 3.01, 3.03, 5.01, 5.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Ayala completes merger with Advaxis; becomes wholly-owned subsidiary; shares converted at 0.1874 ratio
--------------------------------------------------------------------------------

- Merger closed Jan 19, 2023; each share of Ayala common stock converted into 0.1874 shares of Advaxis common stock.
- Ayala becomes wholly-owned subsidiary of Advaxis; Ayala common stock to be delisted from Nasdaq.
- Board of directors resigned; Ken Berlin appointed sole director and CEO, Andrew Gutierrez CMO, Igor Gitelman CFO.
- ATM equity facility with Jefferies terminated effective ten trading days after Jan 13, 2023; no penalties.
- Ayala to file Form 15 to suspend reporting obligations under Exchange Act.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1797336/000149315223002463/0001493152-23-002463-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1797336/000149315223002463/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-23-002463

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer