ProKidney Corp. Enters Material Definitive Agreement
Ticker: PROK · Form: 8-K · Filed: Nov 22, 2024 · CIK: 1850270
| Field | Detail |
|---|---|
| Company | Prokidney Corp. (PROK) |
| Form Type | 8-K |
| Filed Date | Nov 22, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $0.0001, $22.5 million |
| Sentiment | neutral |
Sentiment: neutral
Topics: material-definitive-agreement, corporate-action
TL;DR
ProKidney Corp. signed a big deal on Nov 20th.
AI Summary
On November 20, 2024, ProKidney Corp. entered into a material definitive agreement. The company, formerly known as Social Capital Suvretta Holdings Corp. III, is incorporated in the Cayman Islands and has its principal executive offices in Winston-Salem, North Carolina.
Why It Matters
This filing indicates a significant contractual development for ProKidney Corp., which could impact its business operations and future financial performance.
Risk Assessment
Risk Level: medium — Entering into material definitive agreements can carry inherent risks related to the terms, counterparty, and execution of the agreement.
Key Numbers
- 001-40560 — SEC File Number (Identifies the company's filing history with the SEC.)
- 98-1586514 — IRS Employer Identification No. (Company's tax identification number.)
Key Players & Entities
- PROKIDNEY CORP. (company) — Registrant
- Social Capital Suvretta Holdings Corp. III (company) — Former Company Name
- November 20, 2024 (date) — Date of earliest event reported
- 2000 Frontis Plaza Blvd. Suite 250, Winston-Salem, North Carolina 27103 (address) — Principal Executive Offices
FAQ
What is the nature of the material definitive agreement entered into by ProKidney Corp.?
The filing does not specify the details of the material definitive agreement, only that one was entered into on November 20, 2024.
When was ProKidney Corp. formerly known as Social Capital Suvretta Holdings Corp. III?
The date of the name change from Social Capital Suvretta Holdings Corp. III to ProKidney Corp. was March 10, 2021.
What is ProKidney Corp.'s primary business classification?
ProKidney Corp. is classified under 'BIOLOGICAL PRODUCTS (NO DIAGNOSTIC SUBSTANCES)' with SIC code 2836.
Where are ProKidney Corp.'s principal executive offices located?
ProKidney Corp.'s principal executive offices are located at 2000 Frontis Plaza Blvd., Suite 250, Winston-Salem, North Carolina 27103.
What is the fiscal year end for ProKidney Corp.?
ProKidney Corp.'s fiscal year ends on December 31.
Filing Stats: 523 words · 2 min read · ~2 pages · Grade level 12.7 · Accepted 2024-11-22 16:09:26
Key Financial Figures
- $0.0001 — h registered Class A ordinary shares, $0.0001 par value per share PROK The Nasdaq
- $22.5 million — ent, the Company will pay approximately $22.5 million in cash for the buildings and land. The
Filing Documents
- prok-20241120.htm (8-K) — 37KB
- 0000950170-24-130207.txt ( ) — 151KB
- prok-20241120.xsd (EX-101.SCH) — 25KB
- prok-20241120_htm.xml (XML) — 5KB
01 Entry into a Material Definitive Agreement
Item 1.01 Entry into a Material Definitive Agreement. On November 20, 2024, ProKidney Corp. (the "Company"), through its wholly owned subsidiary, ProKidney Acquisition Company, LLC, entered into a purchase agreement with Breit SE Industrial Propco NC LP (the "Agreement") to purchase two buildings on adjacent parcels in Winston-Salem, North Carolina, portions of which buildings the Company now occupies pursuant to real estate leases. The two buildings represent total usable space of approximately 180,000 square feet and are expected to support the Company's manufacturing operations for rilparencel, the Company's lead product candidate. Under the Agreement, the Company will pay approximately $22.5 million in cash for the buildings and land. The Agreement contains customary representations. The transaction is expected to close by the end of November 2024, upon satisfaction of customary closing conditions. The foregoing description of the Agreement is qualified in its entirety by reference to the full text of such agreement, which the Company intends to file as an exhibit to its Annual Report on Form 10-K for the year ended December 31, 2024.
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 hereunto duly authorized. PROKIDNEY CORP. Date: November 22, 2024 By: /s/ James Coulston Name: James Coulston Title: Chief Financial Officer