Adicet Bio, Inc. Enters Material Definitive Agreement
Ticker: ACET · Form: 8-K · Filed: Nov 15, 2024 · CIK: 1720580
| Field | Detail |
|---|---|
| Company | Adicet Bio, Inc. (ACET) |
| Form Type | 8-K |
| Filed Date | Nov 15, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $0.0001, $500,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: material-definitive-agreement, company-information
TL;DR
Adicet Bio just signed a big deal, filing an 8-K on Nov 15.
AI Summary
On November 8, 2024, Adicet Bio, Inc. entered into a Material Definitive Agreement. The company, formerly known as resTORbio, Inc., is incorporated in Delaware and is in the Pharmaceutical Preparations industry. The filing was made on November 15, 2024.
Why It Matters
This filing indicates a significant new agreement for Adicet Bio, Inc., which could impact its future operations and financial performance.
Risk Assessment
Risk Level: medium — Entering into a material definitive agreement is a significant event that could carry substantial implications for the company's future.
Key Numbers
- 001-38359 — SEC File Number (Identifies the company's filing history)
- 81-3305277 — IRS Employer Identification No. (Company's tax identification number)
Key Players & Entities
- Adicet Bio, Inc. (company) — Registrant
- resTORbio, Inc. (company) — Former Company Name
- November 08, 2024 (date) — Date of earliest event reported
- November 15, 2024 (date) — Filing Date
- Delaware (jurisdiction) — State of Incorporation
- 131 Dartmouth Street, Floor 3, Boston, Massachusetts 02116 (address) — Principal Executive Offices
FAQ
What is the nature of the Material Definitive Agreement entered into by Adicet Bio, Inc. on November 8, 2024?
The filing does not specify the details of the Material Definitive Agreement, only that one was entered into on November 8, 2024.
When was Adicet Bio, Inc. formerly known as resTORbio, Inc.?
The date of the name change from resTORbio, Inc. to Adicet Bio, Inc. was October 24, 2017.
What is Adicet Bio, Inc.'s principal executive office address?
Adicet Bio, Inc.'s principal executive offices are located at 131 Dartmouth Street, Floor 3, Boston, Massachusetts 02116.
What is the SIC code for Adicet Bio, Inc.?
The Standard Industrial Classification (SIC) code for Adicet Bio, Inc. is 2834, which corresponds to Pharmaceutical Preparations.
What is the filing date of this 8-K report?
This 8-K report was filed as of November 15, 2024.
Filing Stats: 593 words · 2 min read · ~2 pages · Grade level 11.7 · Accepted 2024-11-15 16:03:36
Key Financial Figures
- $0.0001 — ch registered Common Stock, par value $0.0001 per share ACET The Nasdaq Global Ma
- $500,000 — ermitted investment dollar threshold of $500,000 for cash that the Company can transfer
Filing Documents
- acet-20241108.htm (8-K) — 42KB
- acet-ex10_1.htm (EX-10.1) — 46KB
- 0000950170-24-127560.txt ( ) — 208KB
- acet-20241108.xsd (EX-101.SCH) — 24KB
- acet-20241108_htm.xml (XML) — 5KB
01 Entry into a Material Definitive Agreement
Item 1.01 Entry into a Material Definitive Agreement. On November 8, 2024, Adicet Therapeutics, Inc. (the "Subsidiary"), a Delaware corporation and wholly-owned subsidiary of Adicet Bio, Inc. (the "Guarantor", and together with the Subsidiary, the "Company"), and Pacific Western Bank ("PacWest") entered into a Eighth Amendment (the "Amendment") to that certain Loan and Security Agreement, dated April 28, 2020, by and among the Subsidiary and PacWest (the "Agreement"). Pursuant to the Agreement, PacWest will provide one or more term loans, as well as non-formula ancillary services. Pursuant to the Amendment, the Company and PacWest agreed to amend certain provisions of the Agreement that relate to Adicet (Shanghai) Biotechnology Co., Ltd. ("Adicet Shanghai"). The provisions include (i) the removal of the equity interests of Adicet Shanghai held by the Company from the general requirement to pledge all assets owned by the Company as collateral, and (ii) a permitted investment dollar threshold of $500,000 for cash that the Company can transfer to Adicet Shanghai without additional Bank approval. The foregoing description of the Amendment is qualified in its entirety by reference to the full text of the agreement, which is attached to this report as Exhibit 10.1 and incorporated by reference in this Item 1.01.
01 Exhibits
Item 9.01 Exhibits. (d) Exhibits Exhibit No. Description 10.1 Eighth Amendment to Loan and Security Agreement, by and between Banc of California and Adicet Therapeutics, Inc., dated November 8, 2024. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document).
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. ADICET BIO, INC. Date: November 15, 2024 By: /s/ Nick Harvey Name: Nick Harvey Title: Chief Financial Officer