---
schema_version: "secwatch.filing_event.v1"
accession: "0001558370-23-019741"
form_type: "8-K"
ticker: null
cik: "0001476963"
company_name: "Scorpius Holdings, Inc."
filed_at: "2023-12-12T23:59:59+00:00"
generated_at: "2026-06-07T14:07:08.524646+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# NightHawk Biosciences divests Elusys to CEO-controlled buyer; $500k upfront, $2.25M note, royalty

## Summary
- Buyer paid $500k cash and assumed ~$40M in liabilities; receives Elusys equity and 'NightHawk' name.
- Convertible note: $2.25M at 1% interest, matures in 1 year; conversion price set at 110% of 7-day VWAP.
- NightHawk to receive 3% royalty on ANTHIM (anthrax antitoxin) sales through June 2031, with $5M minimum by 2028.
- Post-transaction, NightHawk expects to eliminate $40M in contractual obligations and reduce annual expenses by $13M.
- CEO Jeffrey Wolf and CFO William Ostrander retain roles at NightHawk and also serve as officers of Buyer.

## SEC filing metadata
- accession: 0001558370-23-019741
- form_type: 8-K
- cik: 0001476963
- company_name: Scorpius Holdings, Inc.
- filed_at: 2023-12-12T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 1.01, 2.03, 3.02, 3.03, 5.02, 7.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1476963/000155837023019741/0001558370-23-019741-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1476963/000155837023019741/nhwk-20231211x8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001558370-23-019741
- JSON: https://secwatch.observer/filing/0001558370-23-019741.json
- Plain text: https://secwatch.observer/filing/0001558370-23-019741.txt

## Key facts
- Debt Financings
  Scorpius Holdings, Inc. incurred convertible notes of aggregate amount of $2,250,000 with Elusys Holdings Inc. at 1% per annum maturing one-year anniversary of its issuance.
  - Instrument: convertible notes
  - Principal: aggregate amount of $2,250,000
  - Counterparty: Elusys Holdings Inc.
  - Rate: 1% per annum
  - Maturity: one-year anniversary of its issuance
  - Event: incurrence
  source text: convertible promissory note in the aggregate amount of $2,250,000 (the “Note”), the conversion of which is subject to obtaining stockholder approval of the issuance of shares of the Company’s common stock upon such conversion. The Note will bear interest at a rate of 1% per annum, mature on the one-year anniversary of its issuance
  evidence_url: https://www.sec.gov/Archives/edgar/data/1476963/000155837023019741/0001558370-23-019741-index.htm
- Material Agreements
  Scorpius Holdings, Inc. entered into Asset and Equity Interests Purchase Agreement with Elusys Holdings Inc. valued at $500,000 (effective 2023-12-11).
  - Action: entry
  - Agreement: asset purchase
  - Counterparty: Elusys Holdings Inc.
  - Value: $500,000
  - Effective: 2023-12-11
  source text: On December 11, 2023, NightHawk Biosciences, Inc. (the “Company”) entered into an Asset and Equity Interests Purchase Agreement (the “Agreement”) with Elusys Holdings Inc., a Delaware corporation (“Buyer”)
  evidence_url: https://www.sec.gov/Archives/edgar/data/1476963/000155837023019741/0001558370-23-019741-index.htm

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