Kala acquires Combangio for $5M cash, $16.1M stock; board adds Blumenkranz

KALA BIO, Inc.

Upfront payment $5.0M cash + 7,788,667 shares (~$16.1M) representing 11.9% of Kala's outstanding.
Contingent consideration up to $105M in milestones plus tiered mid-to-high single-digit royalties on KPI-012 sales.
Board appoints Mark Blumenkranz, former Combangio board member, as Class II director; receives option for 42,000 shares.
Kala terminates Watertown lease, receives $2M termination consideration; HQ moves to Arlington, MA; outsources lab activities.

item 1.01 item 1.02 item 2.01 item 2.02 item 3.02 item 5.02 item 9.01

Executive movements

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Appointed

Mark Blumenkranz

Director

KALA · KALA BIO, Inc.

Filed: November 15, 2021, 6:59 PM ET

Upon the recommendation of the Nominating and Corporate Governance Committee of the Board of Directors (the “Board”), the Board appointed Mark Blumenkranz as a member of the Board, effective upon the Closing of the Acquisition

Key facts

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Executive change SEC 8-K Item 5.02 confidence 1.0

Mark Blumenkranz was appointed as Director at KALA BIO, Inc..

Action: appointed
Role: Director

Exact text from the filing

Upon the recommendation of the Nominating and Corporate Governance Committee of the Board of Directors (the “Board”), the Board appointed Mark Blumenkranz as a member of the Board, effective upon the Closing of the Acquisition

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KALA BIO, Inc. filing history →

Source: SEC EDGAR

accession 0001558370-21-015885

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