---
schema_version: "secwatch.filing_event.v1"
accession: "0001615219-25-000072"
form_type: "8-K"
ticker: "DCOY"
cik: "0001615219"
company_name: "Decoy Therapeutics Inc."
filed_at: "2025-07-21T23:59:59+00:00"
generated_at: "2026-05-18T05:07:02.903095+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# Salarius amends merger agreement to allow Decoy noteholders to exchange debt for Series B Preferred

## Summary
- Third Amendment dated July 18, 2025 allows holders of Decoy promissory notes to exchange debt for newly created Series B Non-Voting Convertible Preferred Stock.
- Series B converts into common shares at a ratio based on the per-share offering price in the required $6.0M Qualified Financing.
- Pre-Qualified Financing ownership percentages unchanged: Salarius legacy stockholders retain 7.6%, Decoy legacy stockholders retain 92.4%.
- Mandatory redemption requires 50% of net proceeds from ATM draws or equity line of credit to redeem Series B shares until fully redeemed.
- Series B conversion requires stockholder approval and Nasdaq initial listing satisfaction; automatic conversion one year after conversion approval date.

## SEC filing metadata
- accession: 0001615219-25-000072
- form_type: 8-K
- ticker: DCOY
- cik: 0001615219
- company_name: Decoy Therapeutics Inc.
- filed_at: 2025-07-21T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 1.01, 3.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1615219/000161521925000072/0001615219-25-000072-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1615219/000161521925000072/flks-20250718.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001615219-25-000072
- JSON: https://secwatch.observer/filing/0001615219-25-000072.json
- Plain text: https://secwatch.observer/filing/0001615219-25-000072.txt

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