---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-23-007347"
form_type: "8-K"
ticker: null
cik: "0001695357"
company_name: "Provention Bio, Inc."
filed_at: "2023-03-13T23:59:59+00:00"
generated_at: "2026-06-18T04:34:53.001577+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.95
calibrated_materiality_score: 0.95
confidence: "high"
source: SEC EDGAR
---

# Sanofi to acquire Provention Bio for $25.00 per share, equity value ~$2.9B

## Summary
- Sanofi to acquire Provention via tender offer at $25.00/share cash; equity value ~$2.9 billion.
- TZIELD (teplizumab) is lead asset, first therapy to delay onset of Stage 3 type 1 diabetes.
- Offer subject to majority tender, HSR clearance, and other customary conditions; no financing condition.
- Provention must pay $100M termination fee; Sanofi must pay $158M reverse termination fee if antitrust fails.
- Executive employment agreements amended to adjust severance multiples and provide tax gross-up (up to $15M aggregate).

## SEC filing metadata
- accession: 0001493152-23-007347
- form_type: 8-K
- cik: 0001695357
- company_name: Provention Bio, Inc.
- filed_at: 2023-03-13T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.95
- calibrated_materiality_score: 0.95
- confidence: high
- sec_items: 1.01, 5.02, 5.03, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1695357/000149315223007347/0001493152-23-007347-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1695357/000149315223007347/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-23-007347
- JSON: https://secwatch.observer/filing/0001493152-23-007347.json
- Plain text: https://secwatch.observer/filing/0001493152-23-007347.txt

## Key facts
- Governance Changes
  Provention Bio, Inc.: Amended and Restated Bylaws to update procedural requirements for director nominations in light of universal proxy rules and other administrative changes (effective 2023-03-09).
  - Change: bylaw amendment
  - Effective: 2023-03-09
  source text: On March 9, 2023, the Company Board approved the Company's Amended and Restated Bylaws (as so amended and restated, the "Amended Bylaws"), effective as of such date.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1695357/000149315223007347/0001493152-23-007347-index.htm
- Material Agreements
  Provention Bio, Inc. entered into Agreement and Plan of Merger with Sanofi S.A. (effective 2023-03-12).
  - Action: entry
  - Agreement: merger
  - Counterparty: Sanofi S.A.
  - Effective: 2023-03-12
  source text: On March 12, 2023, Provention Bio, Inc., a Delaware corporation (the "Company" or "Provention"), entered into an Agreement and Plan of Merger (the "Merger Agreement") with Sanofi S.A., a French société anonyme ("Parent"), and Parent's indirect wholly-owned subsidiary, Zest Acquisition Sub, Inc., a Delaware corporation ("Purchaser").
  evidence_url: https://www.sec.gov/Archives/edgar/data/1695357/000149315223007347/0001493152-23-007347-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.