secwatch.observer — SEC 8-K summary
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Issuer:     Processa Pharmaceuticals, Inc. (PCSA)
CIK:        0001533743
Form:       8-K
Filed at:   2026-07-29T11:35:23+00:00
Accession:  0001493152-26-035099
Event type: m_and_a
Sentiment:  negative
Materiality: 0.95
Item codes: 1.01, 5.03, 1.02, 2.01, 3.02, 5.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1533743/000149315226035099/0001493152-26-035099-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1533743/000149315226035099/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-26-035099

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