---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-24-044986"
form_type: "8-K"
ticker: "PULM"
cik: "0001574235"
company_name: "Pulmatrix, Inc."
filed_at: "2024-11-13T23:59:59+00:00"
generated_at: "2026-05-30T00:55:00.098761+00:00"
event_type: "m_and_a"
sentiment: "negative"
materiality_score: 1.0
calibrated_materiality_score: 1.0
confidence: "high"
source: SEC EDGAR
---

# Pulmatrix to merge with Cullgen in reverse merger; Cullgen holders to own 96.4%

## Summary
- Pulmatrix to merge with Cullgen; exchange ratio implies Cullgen valuation of $280M, Pulmatrix $10.5M.
- Pre-merger Cullgen stockholders to own ~96.4% of combined company; Pulmatrix stockholders ~3.6%.
- Pulmatrix plans cash dividend to pre-merger stockholders if net cash exceeds $2.5M at closing.
- Combined company board: eight members, seven from Cullgen, one from Pulmatrix.
- Closing conditions include stockholder votes, Nasdaq listing, SEC S-4 effectiveness, CSRC approval.

## SEC filing metadata
- accession: 0001493152-24-044986
- form_type: 8-K
- ticker: PULM
- cik: 0001574235
- company_name: Pulmatrix, Inc.
- filed_at: 2024-11-13T23:59:59+00:00
- event_type: m_and_a
- sentiment: negative
- materiality_score: 1.0
- calibrated_materiality_score: 1.0
- confidence: high
- sec_items: 1.01, 5.01, 5.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1574235/000149315224044986/0001493152-24-044986-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1574235/000149315224044986/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-24-044986
- JSON: https://secwatch.observer/filing/0001493152-24-044986.json
- Plain text: https://secwatch.observer/filing/0001493152-24-044986.txt

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