Theriva Biologics Sells Subsidiary

TL;DR

Theriva Biologics is selling its subsidiary to an unknown buyer, closing Q4 2024.

AI Summary

Theriva Biologics, Inc. announced on September 6, 2024, that it has entered into a definitive agreement to sell its wholly-owned subsidiary, Theriva Biologics LLC, to an unaffiliated third party. The transaction is expected to close in the fourth quarter of 2024, subject to customary closing conditions. This sale is part of the company's strategic plan to focus on its remaining assets and operations.

Why It Matters

This sale represents a significant strategic shift for Theriva Biologics, potentially impacting its future business focus and financial structure.

Risk Assessment

Risk Level: medium — The sale of a subsidiary can introduce uncertainty regarding the company's future strategy and financial stability.

Key Players & Entities

• Theriva Biologics, Inc. (company) — Registrant
• Theriva Biologics LLC (company) — Wholly-owned subsidiary being sold
• September 6, 2024 (date) — Date of definitive agreement
• fourth quarter of 2024 (date) — Expected closing period

FAQ

Key Financial Figures

• $0.001 — h registered Common stock, par value $0.001 per share SYN NYSE American Indicat
• $30.50 — s common stock at a conversion price of $30.50 per share and to convert the 100,000 sh

Filing Documents

• tm2423567d1_8k.htm (8-K) — 25KB
• 0001104659-24-098225.txt ( ) — 195KB
• syn-20240906.xsd (EX-101.SCH) — 3KB
• syn-20240906_lab.xml (EX-101.LAB) — 33KB
• syn-20240906_pre.xml (EX-101.PRE) — 22KB
• tm2423567d1_8k_htm.xml (XML) — 4KB

01

Item 8.01. Other Events. On September 6, 2024, Theriva Biologics, Inc. (the "Company") received a notice of conversion from the holder of 4,138 shares of its Series C Convertible Preferred Stock and 100,000 shares of its Series D Convertible Preferred Stock to convert the 4,138 shares of Series C Convertible Preferred Stock into 1,086 shares of the Company's common stock at a conversion price of $30.50 per share and to convert the 100,000 shares of Series D Convertible Preferred Stock into 26,230 shares of the Company's common stock at a conversion price of $30.50 per share. On September 6, 2024, the Company issued an aggregate of 27,316 shares of its common stock upon conversion of such shares of Series C Convertible Preferred Stock and Series D Convertible Preferred Stock. Upon such conversion there are no shares of Series C Convertible Preferred Stock or Series D Convertible Preferred Stock outstanding.

Financial Statements and Exhibits

Financial Statements and Exhibits Exhibit Number Description 104 Cover Page Interactive Data File (embedded within the 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 hereunto duly authorized. Dated: September 9, 2024 THERIVA BIOLOGICS, INC. By: /s/ Steven A. Shallcross Name: Steven A. Shallcross Title: Chief Executive Officer and Chief Financial Officer

View Full Filing

View this 8-K filing on SEC EDGAR