RANGE IMPACT, INC. (RNGE): M&A transaction — Range Impact sells cannabinoid drug unit Graphium for warrants and cash

RANGE IMPACT, INC.

Sold all Graphium common stock to Placer Biosciences, owned by former officers Dr. Zipp and Mr. McKilligan.
Consideration: warrants for 25% of Placer common stock (exercise price $0.01, expiring 2034), de minimis cash, 50% of equipment sale proceeds over 12 months.
Graphium held IP, permits, and lab equipment for early-stage cannabinoid therapeutics targeting Crohn’s disease and colitis.
Divestiture part of strategic shift to focus on acquiring, reclaiming, and repurposing mine land in Appalachia.

item 1.01 item 2.01 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

RANGE IMPACT, INC. completed a disposition involving Placer Biosciences, Inc. (closed 2024-09-30).

Action: disposition
Counterparty: Placer Biosciences, Inc.
Closing: 2024-09-30

Exact text from the filing

On September 30, 2024, pursuant to the Stock Purchase Agreement, the Company disposed of all of its legacy cannabinoid drug development assets, including intellectual property, permits, and lab equipment, used in connection with the development of cannabinoid-based therapeutics formulated to address inflammatory conditions of the gastrointestinal tract but without the psychoactive side effects commonly found in other cannabinoid treatments.

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4 m&a transactions filed in the last 30 days. Browse all m&a transactions →

RANGE IMPACT, INC. filing history →

Source: SEC EDGAR

accession 0001493152-24-039195

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