---
schema_version: "secwatch.filing_event.v1"
accession: "0001740797-23-000075"
form_type: "8-K"
ticker: "AVAI"
cik: "0001740797"
company_name: "AVAI BIO, INC."
filed_at: "2023-11-08T23:59:59+00:00"
generated_at: "2026-06-08T09:49:44.612129+00:00"
event_type: "leadership"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Avant Technologies appoints Timothy Lantz as CEO; prior CEO Racuis remains CFO

## Summary
- Timothy Lantz named Director and CEO effective Nov 3, 2023; replaces Vitalis Racuis who vacates CEO but stays CFO/Treasurer.
- Lantz receives $480k annual base salary, 50% annual cash bonus, and quarterly RSA of $375k (15% VWAP discount) plus 3% ISO grant.
- Paul Averill resigned as COO effective Nov 3; no disagreement cited; potential consulting agreement under Lantz.
- Equity grants to Lantz issued as unregistered securities under Section 4(a)(2); no general solicitation.

## SEC filing metadata
- accession: 0001740797-23-000075
- form_type: 8-K
- ticker: AVAI
- cik: 0001740797
- company_name: AVAI BIO, INC.
- filed_at: 2023-11-08T23:59:59+00:00
- event_type: leadership
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01, 3.02, 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1740797/000174079723000075/0001740797-23-000075-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1740797/000174079723000075/avai_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001740797-23-000075
- JSON: https://secwatch.observer/filing/0001740797-23-000075.json
- Plain text: https://secwatch.observer/filing/0001740797-23-000075.txt

## Key facts
- Executive change
  Timothy Lantz was appointed as Director and Chief Executive Officer at AVAI BIO, INC..
  - Action: appointed
  - Role: Director and Chief Executive Officer
  source text: On November 3, 2023, Avant Technologies Inc. (the “Company”) and Timothy Lantz entered into an Employment Agreement pursuant to which Mr. Lantz was retained as Director and Chief Executive Officer (“CEO”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1740797/000174079723000075/0001740797-23-000075-index.htm
- Executive change
  Vitalis Racuis changed role as Chief Financial Officer and Treasurer at AVAI BIO, INC..
  - Action: vacated
  - Role: Chief Financial Officer and Treasurer
  source text: Vitalis Racuis – Vacate CEO position Effective November 3, 2023 with the appointment of Mr. Lantz as Director and CEO, Mr. Racuis vacated his CEO position and continues serve as a Director, Chief Financial Officer (“CFO”) and Treasurer of the Company.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1740797/000174079723000075/0001740797-23-000075-index.htm
- Executive change
  Paul Averill resigned as Chief Operating Officer at AVAI BIO, INC..
  - Action: resigned
  - Role: Chief Operating Officer
  source text: Effective November 3, 2023, Paul Averill resigned as Chief Operating Officer (“COO”) of the Company, so that he may fully devote his efforts to his other business.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1740797/000174079723000075/0001740797-23-000075-index.htm

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