secwatch.observer — SEC 8-K summary
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Issuer:     Butterfly Network, Inc. (BFLY)
CIK:        0001804176
Form:       8-K
Filed at:   2025-11-18T23:59:59+00:00
Accession:  0001804176-25-000015
Event type: other_material
Sentiment:  positive
Materiality: 0.70
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Butterfly Network enters licensing deal with Midjourney for ultrasound-on-chip tech; $15M upfront + $10M annual fees
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- Exclusive license to Midjourney for Butterfly's semiconductor-based ultrasound technology in a specified field of use.
- One-time fee of $15M and annual license fee of $10M payable quarterly over the five-year term.
- Up to $9M in milestone payments plus revenue sharing and chip purchase payments.
- Five-year term subject to earlier termination for breach or insolvency.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1804176/000180417625000015/0001804176-25-000015-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1804176/000180417625000015/bfly-20251117.htm
  HTML page:      https://secwatch.observer/filing/0001804176-25-000015

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer