secwatch.observer — SEC 8-K summary
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Issuer:     KALA BIO, Inc. (KALA)
CIK:        0001479419
Form:       8-K
Filed at:   2025-11-25T23:59:59+00:00
Accession:  0001829126-25-009432
Event type: other_material
Sentiment:  neutral
Materiality: 0.85
Item codes: 1.01, 1.02, 2.03, 3.02, 5.03, 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

KALA BIO enters $6M private placement, resolves Oxford default, appoints David Lazar as CEO
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- First closing raised $1.8M from 900k Series AA preferred shares at $2/share; second closing up to $4.2M subject to stockholder approval.
- Oxford loan settlement: $2M cash and 1.62M common shares reduce loan by $7M; $1M initial cash due by Jan 15, 2026 or stockholder meeting.
- David Lazar appointed CEO and board chair; Mary Reumuth terminated as CFO; Gregory Perry resigns from board.
- Company terminated all remaining employees in October after Oxford foreclosure; now resumes operations with limited cash from placement.
- Stockholder meeting required before March 31, 2026 to approve share increase and conversion of preferred shares.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1479419/000182912625009432/0001829126-25-009432-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1479419/000182912625009432/kalabio_8k.htm
  HTML page:      https://secwatch.observer/filing/0001829126-25-009432

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