M&A - ORGANOVO HOLDINGS, INC.

Form Type: 8-K

Filing Date: 2025-04-02

Corporate Action: Acquisition

Type: Update

Accession Number: 000095017025048888

Filing Summary: On April 2, 2025, Organovo Holdings, Inc. reported preliminary unaudited cash for the fiscal year ending March 31, 2025, and net cash utilization results for the fiscal fourth quarter of 2025. The company anticipates meeting all requirements for continued listing on the Nasdaq Capital Market. The report comes in the context of prior communications with Nasdaq regarding compliance with stockholders' equity requirements and minimum bid price for its shares. On March 25, 2025, Organovo completed the sale of its FXR program and related assets to Eli Lilly and Company for up to $60 million, with $10 million received upfront. Following these transactions, Organovo believes it now meets the stockholders' equity requirement necessary for Nasdaq listing compliance.

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Form Type: 8-K

Filing Date: 2025-02-25

Corporate Action: Acquisition

Type: New

Accession Number: 000095017025026097

Filing Summary: On February 23, 2025, Organovo Holdings, Inc. entered into an asset purchase agreement with Eli Lilly and Company for the sale of the Company's FXR program and related assets. The agreement stipulates an upfront cash payment of $10 million, with $9 million to be paid at closing and $1 million placed in escrow for indemnification claims. Lilly will also assume certain liabilities related to the FXR program and may make additional milestone payments up to $50 million based on the achievement of various milestones. The transaction is expected to close within approximately 30 days of signing, contingent upon closing conditions. Alongside this agreement, transition services and ancillary agreements will be finalized at close. Furthermore, the company has received multiple notices from Nasdaq regarding compliance issues related to stock pricing and equity requirements, which could impact its listing status.

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