---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-26-035099"
form_type: "8-K"
ticker: "PCSA"
cik: "0001533743"
company_name: "Processa Pharmaceuticals, Inc."
filed_at: "2026-07-29T11:35:23+00:00"
generated_at: "2026-07-29T11:40:36.544686+00:00"
event_type: "m_and_a"
sentiment: "negative"
materiality_score: 0.95
calibrated_materiality_score: 0.95
confidence: "high"
source: SEC EDGAR
---

# Processa completes reverse merger with Vidya, raises $200M PIPE, terminates Elion license

## Summary
- Merger closed: Processa issues 558,398 common + 142,744 Series A Preferred (convertible 1:1,000) to Vidya holders.
- Raises $200M via PIPE of 163,775 Series A Preferred shares; closing expected July 30, 2026.
- Proceeds to fund operations into H2 2029 and Phase 2 studies for food allergy, CSU, and RMS.
- Terminates Elion license for PCS6422; pays $650K in fees, returns program, grants 7.5% equity in NewCo.
- Sheila Gujrathi, Vidya founder, appointed to board; existing Processa holders diluted to ~0.9% post-PIPE.

## SEC filing metadata
- accession: 0001493152-26-035099
- form_type: 8-K
- ticker: PCSA
- cik: 0001533743
- company_name: Processa Pharmaceuticals, Inc.
- filed_at: 2026-07-29T11:35:23+00:00
- event_type: m_and_a
- sentiment: negative
- materiality_score: 0.95
- calibrated_materiality_score: 0.95
- confidence: high
- sec_items: 1.01, 5.03, 1.02, 2.01, 3.02, 5.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1533743/000149315226035099/0001493152-26-035099-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1533743/000149315226035099/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-26-035099
- JSON: https://secwatch.observer/filing/0001493152-26-035099.json
- Plain text: https://secwatch.observer/filing/0001493152-26-035099.txt

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