Adverum Biotechnologies Enters Material Definitive Agreement
| Field | Detail |
|---|---|
| Company | Adverum Biotechnologies, Inc. |
| Form Type | 8-K |
| Filed Date | Oct 24, 2025 |
| Risk Level | medium |
| Pages | 15 |
| Reading Time | 18 min |
| Key Dollar Amounts | $0.0001, $3.56, $8.91, $4,000,000, $1.78 |
| Sentiment | neutral |
Sentiment: neutral
Topics: material-definitive-agreement, financial-obligation
TL;DR
Adverum Bio just signed a big deal, creating a new financial obligation. Keep an eye on this.
AI Summary
On October 24, 2025, Adverum Biotechnologies, Inc. entered into a material definitive agreement, creating a direct financial obligation. The company, formerly known as Avalanche Biotechnologies, Inc., is based in Redwood City, California.
Why It Matters
This filing indicates a significant new financial commitment or obligation for Adverum Biotechnologies, which could impact its financial standing and future operations.
Risk Assessment
Risk Level: medium — Entering into material definitive agreements and creating financial obligations can introduce financial risks and operational complexities.
Key Players & Entities
- Adverum Biotechnologies, Inc. (company) — Registrant
- October 24, 2025 (date) — Date of Report
- Avalanche Biotechnologies, Inc. (company) — Former Company Name
- Redwood City, CA (location) — Principal Executive Offices
FAQ
What is the nature of the material definitive agreement entered into by Adverum Biotechnologies?
The filing states that Adverum Biotechnologies, Inc. entered into a material definitive agreement, which also resulted in the creation of a direct financial obligation or an obligation under an off-balance sheet arrangement.
When was this material definitive agreement reported?
The report date for this Form 8-K is October 24, 2025, which is also the date of the earliest event reported.
What was Adverum Biotechnologies, Inc. previously known as?
Adverum Biotechnologies, Inc. was formerly known as Avalanche Biotechnologies, Inc., with a date of name change on September 21, 2010.
Where are Adverum Biotechnologies, Inc.'s principal executive offices located?
The principal executive offices of Adverum Biotechnologies, Inc. are located at 100 Cardinal Way, Redwood City, CA 94063.
What is the SIC code for Adverum Biotechnologies, Inc.?
The Standard Industrial Classification (SIC) code for Adverum Biotechnologies, Inc. is 2836, which pertains to Biological Products (No Diagnostic Substances).
Filing Stats: 4,616 words · 18 min read · ~15 pages · Grade level 19.3 · Accepted 2025-10-24 09:19:59
Key Financial Figures
- $0.0001 — he "Shares") of common stock, par value $0.0001 per share (the "Company Common Stock"),
- $3.56 — k"), of the Company in exchange for (i) $3.56 per Share, net to the stockholder in ca
- $8.91 — cash payments of up to an aggregate of $8.91 per CVR, net to the stockholder in cash
- $4,000,000 — ject to payment of a termination fee of $4,000,000. The Merger Agreement also includes c
- $1.78 — Milestone Payment is an amount equal to $1.78 per CVR minus any Milestone Offset Amou
- $7.13 — Milestone Payment is an amount equal to $7.13 per CVR minus any Milestone Offset Amou
- $1.0 billion — ts affiliates or licensees first exceed $1.0 billion prior to the earlier of (a) the tenth (
- $0.50 — t shall in no event exceed a maximum of $0.50 per CVR. The CVR Agreement provides t
- $65.0 million — to which Parent agreed to provide up to $65.0 million in secured debt financing to the Compan
- $5.0 million — amounts and on the following dates: (i) $5.0 million on October 28, 2025, (ii) $15.0 million
- $15.0 million — $5.0 million on October 28, 2025, (ii) $15.0 million on November 7, 2025, (iii) $20.0 millio
- $20.0 million — 15.0 million on November 7, 2025, (iii) $20.0 million on November 21, 2025, and (iv) $25.0 mi
- $25.0 million — million on November 21, 2025, and (iv) $25.0 million on December 5, 2025, in each case subje
Filing Documents
- d70157d8k.htm (8-K) — 70KB
- d70157dex21.htm (EX-2.1) — 664KB
- d70157dex101.htm (EX-10.1) — 110KB
- d70157dex991.htm (EX-99.1) — 25KB
- g70157dsp1a.jpg (GRAPHIC) — 6KB
- g70157dsp1aa.jpg (GRAPHIC) — 8KB
- g70157dsp1b.jpg (GRAPHIC) — 7KB
- 0001193125-25-249438.txt ( ) — 1231KB
- advm-20251024.xsd (EX-101.SCH) — 3KB
- advm-20251024_lab.xml (EX-101.LAB) — 17KB
- advm-20251024_pre.xml (EX-101.PRE) — 11KB
- d70157d8k_htm.xml (XML) — 3KB
Financial Statements and Exhibits
Financial Statements and Exhibits. (d) Exhibits. Exhibit Number Description 2.1* Agreement and Plan of Merger, dated October 24, 2025, by and among Eli Lilly and Company, Flying Tigers Acquisition Corporation and Adverum Biotechnologies, Inc. 10.1* Secured Promissory Note, dated October 24, 2025, by and between Eli Lilly and Company and Adverum Biotechnologies, Inc. 99.1 Joint Press Release of Eli Lilly and Company and Adverum Biotechnologies, Inc., dated October 24, 2025. 104 Cover Page Interactive Date File (embedded within the Inline XBRL document) * Certain annexes, exhibits and schedules have been omitted pursuant to Item 601(a)(5) or Item 601(b)(2) of Regulation S-K. The Company agrees to furnish supplementally a copy of any omitted exhibit or schedule to the SEC upon request; provided, however, that the Company may request confidential treatment pursuant to Rule 24b-2 of the Exchange Act for any schedule so furnished. Cautionary Note Regarding Forward-Looking Statements This Current Report on Form 8-K contains forward-looking statements that involve risks and uncertainties relating to future events and the future performance of the Company and Parent, including statements relating to the ability to complete and the timing of completion of the transactions contemplated by the Merger Agreement, including the anticipated occurrence, manner and timing of the proposed Offer, the parties' ability to satisfy the conditions to the consummation of the Offer and the other conditions to the consummation of the subsequent merger set forth in the Merger Agreement, the possibility of any termination of the Merger Agreement, the prospective benefits of the proposed transaction, the Company's cash runway and prospects, the potential availability of financing under the Note, the Company's product candidates and ongoing clinical and preclinical development, Parent's development of programs for ophthalmology and advancement of gene therapies and other