Bankruptcy: Gritstone bio, Inc.

Form Type: 8-K

Filing Date: 2025-02-25

Corporate Action: Bankruptcy

Type: Update

Accession Number: 000119312525035266

Filing Summary: On February 14, 2025, Gritstone bio, Inc. filed a monthly operating report (MOR) with the U.S. Bankruptcy Court for the District of Delaware as part of its ongoing Chapter 11 bankruptcy case, initiated on October 10, 2024. The MOR covers the financial performance and operations of the company for the period from December 1, 2024, to December 31, 2024. It is important to note that the MOR has not been reviewed or audited by independent accountants and is limited in scope, which may not provide a complete view of the company's financial situation. The registration mentions that trading in the company's common stock during the bankruptcy proceedings is highly speculative and poses significant risks, advising caution to investors. The filing includes cautionary statements about forward-looking statements, indicating inherent risks in the bankruptcy process and uncertainties regarding business results going forward.

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Form Type: 8-K

Filing Date: 2025-02-14

Corporate Action: Bankruptcy

Type: Update

Accession Number: 000119312525027252

Filing Summary: On January 14, 2025, Gritstone bio, Inc. filed a monthly operating report (MOR) related to its Chapter 11 bankruptcy case. The report covers the period from November 1, 2024, to November 30, 2024, and was submitted to the U.S. Bankruptcy Court for the District of Delaware. The filing follows the company's voluntary petition for relief under Chapter 11 that was submitted on October 10, 2024. The company cautions that the MOR is prepared solely for bankruptcy reporting requirements and has not been audited. The report was filed to comply with obligations under bankruptcy laws but should not be relied upon for investment decisions due to its limited scope and potential lack of completeness. The document also emphasizes that trading in Gritstone's common stock during the bankruptcy proceedings is highly speculative and carries substantial risks for investors.

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Form Type: 8-K

Filing Date: 2025-01-03

Corporate Action: Bankruptcy

Type: New

Accession Number: 000119312525001488

Filing Summary: Gritstone bio, Inc. filed for Chapter 11 bankruptcy on October 10, 2024. The Bankruptcy Court authorized an asset sale on December 23, 2024. On December 30, 2024, the company entered into an asset purchase agreement (APA) with Seattle Project Corp. for the sale of substantially all of its assets, except for certain excluded assets, for $21.25 million in cash. The asset sale was completed on December 30, 2024. Following the sale, several key executives resigned, with Vassiliki ‘Celia’ Economides appointed as the interim CEO and CFO. The company cautions shareholders about trading its stock during the bankruptcy proceedings, indicating that prices may not reflect the actual recovery for shareholders.

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Form Type: 8-K

Filing Date: 2024-12-13

Corporate Action: Bankruptcy

Type: Update

Accession Number: 000119312524278626

Filing Summary: On December 9, 2024, Gritstone bio, Inc. provided an update regarding its ongoing Chapter 11 bankruptcy proceedings initiated on October 10, 2024. The Company held an auction for its assets from December 9 to December 12, 2024. Hercules Capital, Inc., Future Solutions Investments LLC, and Seattle Project Corp. emerged as successful bidders for various assets, with total anticipated cash proceeds of approximately $21.25 million, pending Bankruptcy Court approval on December 20, 2024. The document emphasizes the speculative nature of trading in the Company’s Common Stock amidst the bankruptcy, noting potential risks and uncertainties.

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