[8-K] First Northwest Bancorp Reports Material Event
Schedule 13D/A highlights Tang Capital Management, Kevin Tang and affiliated investment vehicles disclosed updated ownership and transaction details regarding Cargo Therapeutics, Inc. ("CRGX").
- Beneficial ownership: The reporting group controls 3,059,630 common shares, representing 6.6 % of the 46,113,353 shares outstanding. Voting and dispositive power over the shares is shared among Tang Capital Management, Tang Capital Partners (TCP), Tang Capital Partners International (TCPI) and Kevin Tang.
- Source of funds: Approximately $22 million of working capital from TCP and TCPI, held in margin accounts, was used to acquire the stake.
- New strategic development 鈥� signed Merger Agreement (7 July 2025):
- Buyer: Concentra Biosciences, LLC; vehicle: Concentra Merger Sub VII, Inc.
- Tender-offer price: $4.379 in cash per CRGX share plus one contingent value right (CVR).
- Subsequent merger: Merger Sub will merge into Cargo Therapeutics, with Cargo surviving as a Concentra subsidiary.
- Key closing conditions: (i) >50 % of outstanding shares tendered; (ii) Closing Net Cash 鈮� $217.5 million; (iii) customary regulatory and procedural conditions.
- Limited guaranty: TCP provided a guarantee capped at $213.1 million for certain obligations under the Merger Agreement.
- CVR structure: Holders will be entitled to (i) 100 % of Closing Net Cash above $217.5 million, and (ii) 80 % of net proceeds from any sale, transfer or license of CRG-022, CRG-023 or the company鈥檚 allogeneic platform occurring within two years post-merger, subject to a $250 k expense cap.
- No recent trading activity: The reporting persons executed no CRGX share transactions during the past 60 days.
The amendment primarily informs investors of the cash-and-CVR takeover proposal, outlines financial protections (guaranty, cash threshold) and updates the group鈥檚 unchanged 6.6 % ownership position.
Punti salienti del Schedule 13D/A Tang Capital Management, Kevin Tang e veicoli di investimento affiliati hanno comunicato aggiornamenti riguardanti la propriet脿 e le transazioni relative a Cargo Therapeutics, Inc. ("CRGX").
- Propriet脿 effettiva: Il gruppo segnalante controlla 3.059.630 azioni ordinarie, pari al 6,6% delle 46.113.353 azioni in circolazione. Il potere di voto e di disposizione sulle azioni 猫 condiviso tra Tang Capital Management, Tang Capital Partners (TCP), Tang Capital Partners International (TCPI) e Kevin Tang.
- Fonte dei fondi: Circa 22 milioni di dollari di capitale operativo da TCP e TCPI, detenuti in conti margine, sono stati utilizzati per acquisire la partecipazione.
- Nuovo sviluppo strategico 鈥� Accordo di fusione firmato (7 luglio 2025):
- Acquirente: Concentra Biosciences, LLC; veicolo: Concentra Merger Sub VII, Inc.
- Prezzo dell'offerta pubblica di acquisto: 4,379 dollari in contanti per azione CRGX pi霉 un diritto di valore contingente (CVR).
- Fusione successiva: Merger Sub si fonder脿 in Cargo Therapeutics, che continuer脿 a esistere come filiale di Concentra.
- Condizioni chiave per la chiusura: (i) oltre il 50% delle azioni in circolazione offerte; (ii) liquidit脿 netta alla chiusura 鈮� 217,5 milioni di dollari; (iii) condizioni normative e procedurali consuete.
- Garanzia limitata: TCP ha fornito una garanzia con un limite massimo di 213,1 milioni di dollari per alcune obbligazioni previste dall鈥橝ccordo di fusione.
- Struttura del CVR: I detentori avranno diritto a (i) il 100% della liquidit脿 netta alla chiusura superiore a 217,5 milioni di dollari e (ii) l鈥�80% dei proventi netti derivanti da qualsiasi vendita, trasferimento o licenza di CRG-022, CRG-023 o della piattaforma allogenica della societ脿 entro due anni dalla fusione, con un limite di spesa di 250.000 dollari.
- Nessuna attivit脿 di trading recente: Le persone che hanno effettuato la segnalazione non hanno eseguito transazioni su azioni CRGX negli ultimi 60 giorni.
L鈥檈mendamento informa principalmente gli investitori della proposta di acquisizione in contanti e CVR, descrive le protezioni finanziarie (garanzia, soglia di liquidit脿) e aggiorna la posizione di propriet脿 invariata del gruppo al 6,6%.
Aspectos destacados del Schedule 13D/A Tang Capital Management, Kevin Tang y veh铆culos de inversi贸n afiliados divulgaron detalles actualizados sobre la propiedad y transacciones relacionadas con Cargo Therapeutics, Inc. ("CRGX").
- Propiedad beneficiaria: El grupo informante controla 3,059,630 acciones ordinarias, que representan el 6.6% de las 46,113,353 acciones en circulaci贸n. El poder de voto y disposici贸n sobre las acciones se comparte entre Tang Capital Management, Tang Capital Partners (TCP), Tang Capital Partners International (TCPI) y Kevin Tang.
- Fuente de fondos: Aproximadamente 22 millones de d贸lares de capital de trabajo de TCP y TCPI, mantenidos en cuentas de margen, se utilizaron para adquirir la participaci贸n.
- Nuevo desarrollo estrat茅gico 鈥� Acuerdo de fusi贸n firmado (7 de julio de 2025):
- Comprador: Concentra Biosciences, LLC; veh铆culo: Concentra Merger Sub VII, Inc.
- Precio de la oferta p煤blica: 4.379 d贸lares en efectivo por acci贸n CRGX m谩s un derecho de valor contingente (CVR).
- Fusi贸n posterior: Merger Sub se fusionar谩 con Cargo Therapeutics, que continuar谩 existiendo como subsidiaria de Concentra.
- Condiciones clave para el cierre: (i) m谩s del 50% de las acciones en circulaci贸n ofrecidas; (ii) efectivo neto al cierre 鈮� 217.5 millones de d贸lares; (iii) condiciones regulatorias y procedimentales habituales.
- Garant铆a limitada: TCP proporcion贸 una garant铆a limitada a 213.1 millones de d贸lares para ciertas obligaciones bajo el Acuerdo de Fusi贸n.
- Estructura del CVR: Los titulares tendr谩n derecho a (i) el 100% del efectivo neto al cierre que supere los 217.5 millones de d贸lares y (ii) el 80% de los ingresos netos de cualquier venta, transferencia o licencia de CRG-022, CRG-023 o la plataforma alog茅nica de la compa帽铆a dentro de dos a帽os posteriores a la fusi贸n, sujeto a un l铆mite de gastos de 250,000 d贸lares.
- Sin actividad comercial reciente: Las personas que reportan no realizaron transacciones con acciones CRGX en los 煤ltimos 60 d铆as.
La enmienda informa principalmente a los inversores sobre la propuesta de adquisici贸n en efectivo y CVR, detalla las protecciones financieras (garant铆a, umbral de efectivo) y actualiza la posici贸n de propiedad inalterada del grupo del 6.6%.
Schedule 13D/A 欤检殧 雮挫毄 Tang Capital Management, Kevin Tang 氚� 甏�霠� 韴瀽 彀焿鞚� Cargo Therapeutics, Inc. ("CRGX")鞐� 雽�頃� 靻岇湢甓� 氚� 瓯半灅 雮挫棴 鞐呺嵃鞚错姼毳� 瓿奠嫓頄堨姷雼堧嫟.
- 鞁れ 靻岇湢甓�: 氤搓碃 攴鸽９鞚� 3,059,630 氤错喌欤�毳� 氤挫湢頃橁碃 鞛堨溂氅�, 鞚措姅 齑� 46,113,353欤� 欷� 6.6%鞐� 頃措嫻頃╇媹雼�. 欤检嫕鞐� 雽�頃� 鞚橁舶甓� 氚� 觳橂秳 甓岉暅鞚� Tang Capital Management, Tang Capital Partners (TCP), Tang Capital Partners International (TCPI), Kevin Tang 臧勳棎 瓿奠湢霅╇媹雼�.
- 鞛愱笀 於滌矘: TCP鞕� TCPI鞚� 毵堨 瓿勳鞐� 氤挫湢 欷戩澑 鞎� 2,200毵� 雼煬鞚� 鞖挫爠鞛愲掣鞚� 歆�攵� 旆摑鞐� 靷毄霅橃棃鞀惦媹雼�.
- 靸堧鞖� 鞝勲灥鞝� 氚滌爠 鈥� 頃╇硲 瓿勳暯 觳搓舶 (2025雲� 7鞗� 7鞚�):
- 毵れ垬鞛�: Concentra Biosciences, LLC; 彀焿: Concentra Merger Sub VII, Inc.
- 瓿店皽 毵れ垬 臧�瓴�: CRGX 欤茧嫻 4.379雼煬 順勱笀 氚� 臁瓣贝攵� 臧�旃� 甓岆Μ(CVR) 1臧�.
- 頉勳啀 頃╇硲: Merger Sub臧� Cargo Therapeutics鞐� 頃╇硲霅橂┌, Cargo電� Concentra鞚� 鞛愴殞靷 臁挫啀頃╇媹雼�.
- 欤检殧 膦呹舶 臁瓣贝: (i) 氚滍枆 欤检嫕鞚� 50% 齑堦臣 鞛呾鞍; (ii) 膦呹舶 鞁� 靾滍槃旮� 鈮� 2鞏� 1,750毵� 雼煬; (iii) 甏�搿�鞝侅澑 攴滌牅 氚� 鞝堨皑 臁瓣贝.
- 鞝滍暅鞝� 氤挫: TCP電� 頃╇硲 瓿勳暯靸侅潣 韸轨爼 鞚橂鞐� 雽�頃� 斓滊寑 2鞏� 1,310毵� 雼煬 頃滊弰鞚� 氤挫鞚� 鞝滉车頄堨姷雼堧嫟.
- CVR 甑“: 氤挫湢鞛愲姅 (i) 膦呹舶 鞁� 靾滍槃旮堨澊 2鞏� 1,750毵� 雼煬毳� 齑堦臣頃橂姅 旮堨暋鞚� 100%, (ii) 頃╇硲 頉� 2雲� 鞚措偞 CRG-022, CRG-023 霕愲姅 須岇偓鞚� 霃欖 鞚挫嫕 頂岆灚韽检潣 韺愲Г, 鞚挫爠 霕愲姅 霛检澊靹犾姢鞐愳劀 氚滌儩頃橂姅 靾滌垬鞚奠潣 80%毳� (雼�, 25毵� 雼煬 牍勳毄 頃滊弰 雮挫棎靹�) 氚涭潉 甓岆Μ臧� 鞛堨姷雼堧嫟.
- 斓滉芳 瓯半灅 頇滊彊 鞐嗢潓: 氤搓碃鞛愲姅 歆�雮� 60鞚� 霃欖晥 CRGX 欤检嫕 瓯半灅毳� 頃橃 鞎婌晿鞀惦媹雼�.
鞚措矆 靾橃爼 瓿奠嫓電� 韴瀽鞛愳棎瓴� 順勱笀 氚� CVR 鞚胳垬 鞝滌晥鞚� 鞎岆Μ瓿�, 鞛 氤错樃鞛レ箻(氤挫, 順勱笀 旮办) 雮挫毄鞚� 靹る獏頃橂┌, 攴鸽９鞚� 氤�霃� 鞐嗠姅 6.6% 靻岇湢 歆�攵勳潉 鞐呺嵃鞚错姼頃╇媹雼�.
Points cl茅s du Schedule 13D/A Tang Capital Management, Kevin Tang et des v茅hicules d鈥檌nvestissement affili茅s ont divulgu茅 des informations mises 脿 jour concernant la propri茅t茅 et les transactions relatives 脿 Cargo Therapeutics, Inc. ("CRGX").
- Propri茅t茅 b茅n茅ficiaire : Le groupe d茅clarant contr么le 3 059 630 actions ordinaires, repr茅sentant 6,6 % des 46 113 353 actions en circulation. Le pouvoir de vote et de disposition sur ces actions est partag茅 entre Tang Capital Management, Tang Capital Partners (TCP), Tang Capital Partners International (TCPI) et Kevin Tang.
- Source des fonds : Environ 22 millions de dollars de fonds de roulement provenant de TCP et TCPI, d茅tenus sur des comptes sur marge, ont 茅t茅 utilis茅s pour acqu茅rir la participation.
- Nouveau d茅veloppement strat茅gique 鈥� Accord de fusion sign茅 (7 juillet 2025) :
- Acheteur : Concentra Biosciences, LLC ; v茅hicule : Concentra Merger Sub VII, Inc.
- Prix de l鈥檕ffre publique : 4,379 $ en esp猫ces par action CRGX plus un droit de valeur conditionnelle (CVR).
- Fusion ult茅rieure : Merger Sub fusionnera avec Cargo Therapeutics, qui survivra en tant que filiale de Concentra.
- Conditions cl茅s de cl么ture : (i) plus de 50 % des actions en circulation pr茅sent茅es ; (ii) tr茅sorerie nette 脿 la cl么ture 鈮� 217,5 millions de dollars ; (iii) conditions r茅glementaires et proc茅durales habituelles.
- Garantie limit茅e : TCP a fourni une garantie plafonn茅e 脿 213,1 millions de dollars pour certaines obligations en vertu de l鈥檃ccord de fusion.
- Structure du CVR : Les d茅tenteurs auront droit 脿 (i) 100 % de la tr茅sorerie nette 脿 la cl么ture au-del脿 de 217,5 millions de dollars, et (ii) 80 % des produits nets provenant de toute vente, transfert ou licence de CRG-022, CRG-023 ou de la plateforme allog茅nique de la soci茅t茅 dans les deux ans suivant la fusion, sous r茅serve d鈥檜n plafond de d茅penses de 250 000 $.
- Aucune activit茅 de trading r茅cente : Les personnes d茅clarantes n鈥檕nt effectu茅 aucune transaction sur des actions CRGX au cours des 60 derniers jours.
L鈥檃mendement informe principalement les investisseurs de la proposition d鈥檃cquisition en esp猫ces et CVR, d茅crit les protections financi猫res (garantie, seuil de tr茅sorerie) et met 脿 jour la position inchang茅e de propri茅t茅 du groupe 脿 6,6 %.
H枚hepunkte des Schedule 13D/A Tang Capital Management, Kevin Tang und verbundene Investmentvehikel haben aktualisierte Angaben zum Eigentum und zu Transaktionen bez眉glich Cargo Therapeutics, Inc. ("CRGX") offengelegt.
- Wirtschaftliches Eigentum: Die meldende Gruppe kontrolliert 3.059.630 Stammaktien, was 6,6 % der 46.113.353 ausstehenden Aktien entspricht. Stimm- und Verf眉gungsrechte 眉ber die Aktien werden zwischen Tang Capital Management, Tang Capital Partners (TCP), Tang Capital Partners International (TCPI) und Kevin Tang geteilt.
- Finanzierungsquelle: Etwa 22 Millionen US-Dollar Betriebskapital von TCP und TCPI, gehalten auf Margin-Konten, wurden verwendet, um die Beteiligung zu erwerben.
- Neue strategische Entwicklung 鈥� unterzeichneter Fusionsvertrag (7. Juli 2025):
- 碍盲耻蹿别谤: Concentra Biosciences, LLC; Vehikel: Concentra Merger Sub VII, Inc.
- 脺产别谤苍补丑尘别辫谤别颈蝉: 4,379 US-Dollar in bar pro CRGX-Aktie plus ein bedingtes Wertrecht (CVR).
- Nachfolgende Fusion: Merger Sub wird in Cargo Therapeutics fusionieren, wobei Cargo als Tochtergesellschaft von Concentra fortbesteht.
- Wesentliche Abschlussbedingungen: (i) >50 % der ausstehenden Aktien werden angeboten; (ii) Abschluss-Netto-Cash 鈮� 217,5 Mio. US-Dollar; (iii) 眉bliche regulatorische und verfahrensm盲脽ige Bedingungen.
- Begrenzte Garantie: TCP hat f眉r bestimmte Verpflichtungen aus dem Fusionsvertrag eine Garantie mit einer Obergrenze von 213,1 Mio. US-Dollar 眉产别谤苍辞尘尘别苍.
- CVR-Struktur: Inhaber haben Anspruch auf (i) 100 % des Abschluss-Netto-Cash 眉ber 217,5 Mio. US-Dollar hinaus und (ii) 80 % der Nettoerl枚se aus einem Verkauf, einer 脺bertragung oder Lizenzierung von CRG-022, CRG-023 oder der allogenen Plattform des Unternehmens innerhalb von zwei Jahren nach der Fusion, vorbehaltlich einer 250.000 US-Dollar Ausgabenobergrenze.
- Keine j眉ngste Handelsaktivit盲t: Die meldenden Personen haben in den letzten 60 Tagen keine CRGX-Aktientransaktionen durchgef眉hrt.
Die 脛nderung informiert Investoren haupts盲chlich 眉ber den Barkauf- und CVR-脺bernahmevorschlag, beschreibt finanzielle Schutzmechanismen (Garantie, Cash-Schwelle) und aktualisiert die unver盲nderte Eigentumsposition der Gruppe von 6,6 %.
- Definitive Merger Agreement offering shareholders $4.379 cash per share plus a CVR, creating an immediate liquidity event with additional upside potential.
- Tang Capital鈥檚 $213.1 m limited guaranty strengthens deal certainty by backing Concentra鈥檚 obligations.
- Cash floor of $217.5 m protects acquirer and indirectly signals Cargo鈥檚 strong balance sheet.
- Reporting persons maintain 6.6 % aligned ownership, demonstrating continued stakeholder commitment.
- Tender offer requires >50 % shareholder acceptance and maintenance of $217.5 m net cash; failure to meet conditions could terminate the deal.
- CVR payments are contingent on asset sales or excess cash; investors face uncertainty on future value realisation.
Insights
TL;DR: 13D/A reveals Concentra cash & CVR bid; Tang group owns 6.6 % and provides $213 m guaranty鈥攖ransaction appears shareholder-friendly but conditional.
Analysis: The filing signals a binding Merger Agreement valuing CRGX at $4.379 per share in cash plus upside via a CVR tied to excess closing cash and monetisation of three CAR-T assets within two years. Tender-offer completion hinges on a majority-support condition and maintenance of at least $217.5 m net cash, limiting balance-sheet risk for the acquirer. Tang Capital鈥檚 guaranty further secures deal performance and demonstrates commitment. With only 6.6 % ownership, Tang cannot unilaterally control the outcome, but its public endorsement and financial backing may encourage broader shareholder acceptance. The CVR introduces uncertainty yet provides potential upside if asset sales occur. Overall, the disclosure is material and broadly positive for CRGX holders, contingent on successful tender close.
TL;DR: Tang updates 6.6 % stake; takeover offers cash plus performance-linked CVR鈥攇ood liquidity event but dependent on majority tender & cash floor.
For investors, the headline is the pending acquisition that crystallises near-term value at $4.379/share and preserves upside through CVRs tied to CRG-022, CRG-023 and the allogeneic platform. The $217.5 m cash floor reduces downside risk for Concentra yet could imperil the deal if Cargo burns cash before close. Lack of competing bids or disclosed fairness opinions leaves valuation context unknown. Still, limited recent trading by Tang suggests confidence in the agreed price. From a biotech perspective, transferring development risk to Concentra while retaining economic interest via CVR is strategically sensible. Impact: high, leaning positive pending condition satisfaction.
Punti salienti del Schedule 13D/A Tang Capital Management, Kevin Tang e veicoli di investimento affiliati hanno comunicato aggiornamenti riguardanti la propriet脿 e le transazioni relative a Cargo Therapeutics, Inc. ("CRGX").
- Propriet脿 effettiva: Il gruppo segnalante controlla 3.059.630 azioni ordinarie, pari al 6,6% delle 46.113.353 azioni in circolazione. Il potere di voto e di disposizione sulle azioni 猫 condiviso tra Tang Capital Management, Tang Capital Partners (TCP), Tang Capital Partners International (TCPI) e Kevin Tang.
- Fonte dei fondi: Circa 22 milioni di dollari di capitale operativo da TCP e TCPI, detenuti in conti margine, sono stati utilizzati per acquisire la partecipazione.
- Nuovo sviluppo strategico 鈥� Accordo di fusione firmato (7 luglio 2025):
- Acquirente: Concentra Biosciences, LLC; veicolo: Concentra Merger Sub VII, Inc.
- Prezzo dell'offerta pubblica di acquisto: 4,379 dollari in contanti per azione CRGX pi霉 un diritto di valore contingente (CVR).
- Fusione successiva: Merger Sub si fonder脿 in Cargo Therapeutics, che continuer脿 a esistere come filiale di Concentra.
- Condizioni chiave per la chiusura: (i) oltre il 50% delle azioni in circolazione offerte; (ii) liquidit脿 netta alla chiusura 鈮� 217,5 milioni di dollari; (iii) condizioni normative e procedurali consuete.
- Garanzia limitata: TCP ha fornito una garanzia con un limite massimo di 213,1 milioni di dollari per alcune obbligazioni previste dall鈥橝ccordo di fusione.
- Struttura del CVR: I detentori avranno diritto a (i) il 100% della liquidit脿 netta alla chiusura superiore a 217,5 milioni di dollari e (ii) l鈥�80% dei proventi netti derivanti da qualsiasi vendita, trasferimento o licenza di CRG-022, CRG-023 o della piattaforma allogenica della societ脿 entro due anni dalla fusione, con un limite di spesa di 250.000 dollari.
- Nessuna attivit脿 di trading recente: Le persone che hanno effettuato la segnalazione non hanno eseguito transazioni su azioni CRGX negli ultimi 60 giorni.
L鈥檈mendamento informa principalmente gli investitori della proposta di acquisizione in contanti e CVR, descrive le protezioni finanziarie (garanzia, soglia di liquidit脿) e aggiorna la posizione di propriet脿 invariata del gruppo al 6,6%.
Aspectos destacados del Schedule 13D/A Tang Capital Management, Kevin Tang y veh铆culos de inversi贸n afiliados divulgaron detalles actualizados sobre la propiedad y transacciones relacionadas con Cargo Therapeutics, Inc. ("CRGX").
- Propiedad beneficiaria: El grupo informante controla 3,059,630 acciones ordinarias, que representan el 6.6% de las 46,113,353 acciones en circulaci贸n. El poder de voto y disposici贸n sobre las acciones se comparte entre Tang Capital Management, Tang Capital Partners (TCP), Tang Capital Partners International (TCPI) y Kevin Tang.
- Fuente de fondos: Aproximadamente 22 millones de d贸lares de capital de trabajo de TCP y TCPI, mantenidos en cuentas de margen, se utilizaron para adquirir la participaci贸n.
- Nuevo desarrollo estrat茅gico 鈥� Acuerdo de fusi贸n firmado (7 de julio de 2025):
- Comprador: Concentra Biosciences, LLC; veh铆culo: Concentra Merger Sub VII, Inc.
- Precio de la oferta p煤blica: 4.379 d贸lares en efectivo por acci贸n CRGX m谩s un derecho de valor contingente (CVR).
- Fusi贸n posterior: Merger Sub se fusionar谩 con Cargo Therapeutics, que continuar谩 existiendo como subsidiaria de Concentra.
- Condiciones clave para el cierre: (i) m谩s del 50% de las acciones en circulaci贸n ofrecidas; (ii) efectivo neto al cierre 鈮� 217.5 millones de d贸lares; (iii) condiciones regulatorias y procedimentales habituales.
- Garant铆a limitada: TCP proporcion贸 una garant铆a limitada a 213.1 millones de d贸lares para ciertas obligaciones bajo el Acuerdo de Fusi贸n.
- Estructura del CVR: Los titulares tendr谩n derecho a (i) el 100% del efectivo neto al cierre que supere los 217.5 millones de d贸lares y (ii) el 80% de los ingresos netos de cualquier venta, transferencia o licencia de CRG-022, CRG-023 o la plataforma alog茅nica de la compa帽铆a dentro de dos a帽os posteriores a la fusi贸n, sujeto a un l铆mite de gastos de 250,000 d贸lares.
- Sin actividad comercial reciente: Las personas que reportan no realizaron transacciones con acciones CRGX en los 煤ltimos 60 d铆as.
La enmienda informa principalmente a los inversores sobre la propuesta de adquisici贸n en efectivo y CVR, detalla las protecciones financieras (garant铆a, umbral de efectivo) y actualiza la posici贸n de propiedad inalterada del grupo del 6.6%.
Schedule 13D/A 欤检殧 雮挫毄 Tang Capital Management, Kevin Tang 氚� 甏�霠� 韴瀽 彀焿鞚� Cargo Therapeutics, Inc. ("CRGX")鞐� 雽�頃� 靻岇湢甓� 氚� 瓯半灅 雮挫棴 鞐呺嵃鞚错姼毳� 瓿奠嫓頄堨姷雼堧嫟.
- 鞁れ 靻岇湢甓�: 氤搓碃 攴鸽９鞚� 3,059,630 氤错喌欤�毳� 氤挫湢頃橁碃 鞛堨溂氅�, 鞚措姅 齑� 46,113,353欤� 欷� 6.6%鞐� 頃措嫻頃╇媹雼�. 欤检嫕鞐� 雽�頃� 鞚橁舶甓� 氚� 觳橂秳 甓岉暅鞚� Tang Capital Management, Tang Capital Partners (TCP), Tang Capital Partners International (TCPI), Kevin Tang 臧勳棎 瓿奠湢霅╇媹雼�.
- 鞛愱笀 於滌矘: TCP鞕� TCPI鞚� 毵堨 瓿勳鞐� 氤挫湢 欷戩澑 鞎� 2,200毵� 雼煬鞚� 鞖挫爠鞛愲掣鞚� 歆�攵� 旆摑鞐� 靷毄霅橃棃鞀惦媹雼�.
- 靸堧鞖� 鞝勲灥鞝� 氚滌爠 鈥� 頃╇硲 瓿勳暯 觳搓舶 (2025雲� 7鞗� 7鞚�):
- 毵れ垬鞛�: Concentra Biosciences, LLC; 彀焿: Concentra Merger Sub VII, Inc.
- 瓿店皽 毵れ垬 臧�瓴�: CRGX 欤茧嫻 4.379雼煬 順勱笀 氚� 臁瓣贝攵� 臧�旃� 甓岆Μ(CVR) 1臧�.
- 頉勳啀 頃╇硲: Merger Sub臧� Cargo Therapeutics鞐� 頃╇硲霅橂┌, Cargo電� Concentra鞚� 鞛愴殞靷 臁挫啀頃╇媹雼�.
- 欤检殧 膦呹舶 臁瓣贝: (i) 氚滍枆 欤检嫕鞚� 50% 齑堦臣 鞛呾鞍; (ii) 膦呹舶 鞁� 靾滍槃旮� 鈮� 2鞏� 1,750毵� 雼煬; (iii) 甏�搿�鞝侅澑 攴滌牅 氚� 鞝堨皑 臁瓣贝.
- 鞝滍暅鞝� 氤挫: TCP電� 頃╇硲 瓿勳暯靸侅潣 韸轨爼 鞚橂鞐� 雽�頃� 斓滊寑 2鞏� 1,310毵� 雼煬 頃滊弰鞚� 氤挫鞚� 鞝滉车頄堨姷雼堧嫟.
- CVR 甑“: 氤挫湢鞛愲姅 (i) 膦呹舶 鞁� 靾滍槃旮堨澊 2鞏� 1,750毵� 雼煬毳� 齑堦臣頃橂姅 旮堨暋鞚� 100%, (ii) 頃╇硲 頉� 2雲� 鞚措偞 CRG-022, CRG-023 霕愲姅 須岇偓鞚� 霃欖 鞚挫嫕 頂岆灚韽检潣 韺愲Г, 鞚挫爠 霕愲姅 霛检澊靹犾姢鞐愳劀 氚滌儩頃橂姅 靾滌垬鞚奠潣 80%毳� (雼�, 25毵� 雼煬 牍勳毄 頃滊弰 雮挫棎靹�) 氚涭潉 甓岆Μ臧� 鞛堨姷雼堧嫟.
- 斓滉芳 瓯半灅 頇滊彊 鞐嗢潓: 氤搓碃鞛愲姅 歆�雮� 60鞚� 霃欖晥 CRGX 欤检嫕 瓯半灅毳� 頃橃 鞎婌晿鞀惦媹雼�.
鞚措矆 靾橃爼 瓿奠嫓電� 韴瀽鞛愳棎瓴� 順勱笀 氚� CVR 鞚胳垬 鞝滌晥鞚� 鞎岆Μ瓿�, 鞛 氤错樃鞛レ箻(氤挫, 順勱笀 旮办) 雮挫毄鞚� 靹る獏頃橂┌, 攴鸽９鞚� 氤�霃� 鞐嗠姅 6.6% 靻岇湢 歆�攵勳潉 鞐呺嵃鞚错姼頃╇媹雼�.
Points cl茅s du Schedule 13D/A Tang Capital Management, Kevin Tang et des v茅hicules d鈥檌nvestissement affili茅s ont divulgu茅 des informations mises 脿 jour concernant la propri茅t茅 et les transactions relatives 脿 Cargo Therapeutics, Inc. ("CRGX").
- Propri茅t茅 b茅n茅ficiaire : Le groupe d茅clarant contr么le 3 059 630 actions ordinaires, repr茅sentant 6,6 % des 46 113 353 actions en circulation. Le pouvoir de vote et de disposition sur ces actions est partag茅 entre Tang Capital Management, Tang Capital Partners (TCP), Tang Capital Partners International (TCPI) et Kevin Tang.
- Source des fonds : Environ 22 millions de dollars de fonds de roulement provenant de TCP et TCPI, d茅tenus sur des comptes sur marge, ont 茅t茅 utilis茅s pour acqu茅rir la participation.
- Nouveau d茅veloppement strat茅gique 鈥� Accord de fusion sign茅 (7 juillet 2025) :
- Acheteur : Concentra Biosciences, LLC ; v茅hicule : Concentra Merger Sub VII, Inc.
- Prix de l鈥檕ffre publique : 4,379 $ en esp猫ces par action CRGX plus un droit de valeur conditionnelle (CVR).
- Fusion ult茅rieure : Merger Sub fusionnera avec Cargo Therapeutics, qui survivra en tant que filiale de Concentra.
- Conditions cl茅s de cl么ture : (i) plus de 50 % des actions en circulation pr茅sent茅es ; (ii) tr茅sorerie nette 脿 la cl么ture 鈮� 217,5 millions de dollars ; (iii) conditions r茅glementaires et proc茅durales habituelles.
- Garantie limit茅e : TCP a fourni une garantie plafonn茅e 脿 213,1 millions de dollars pour certaines obligations en vertu de l鈥檃ccord de fusion.
- Structure du CVR : Les d茅tenteurs auront droit 脿 (i) 100 % de la tr茅sorerie nette 脿 la cl么ture au-del脿 de 217,5 millions de dollars, et (ii) 80 % des produits nets provenant de toute vente, transfert ou licence de CRG-022, CRG-023 ou de la plateforme allog茅nique de la soci茅t茅 dans les deux ans suivant la fusion, sous r茅serve d鈥檜n plafond de d茅penses de 250 000 $.
- Aucune activit茅 de trading r茅cente : Les personnes d茅clarantes n鈥檕nt effectu茅 aucune transaction sur des actions CRGX au cours des 60 derniers jours.
L鈥檃mendement informe principalement les investisseurs de la proposition d鈥檃cquisition en esp猫ces et CVR, d茅crit les protections financi猫res (garantie, seuil de tr茅sorerie) et met 脿 jour la position inchang茅e de propri茅t茅 du groupe 脿 6,6 %.
H枚hepunkte des Schedule 13D/A Tang Capital Management, Kevin Tang und verbundene Investmentvehikel haben aktualisierte Angaben zum Eigentum und zu Transaktionen bez眉glich Cargo Therapeutics, Inc. ("CRGX") offengelegt.
- Wirtschaftliches Eigentum: Die meldende Gruppe kontrolliert 3.059.630 Stammaktien, was 6,6 % der 46.113.353 ausstehenden Aktien entspricht. Stimm- und Verf眉gungsrechte 眉ber die Aktien werden zwischen Tang Capital Management, Tang Capital Partners (TCP), Tang Capital Partners International (TCPI) und Kevin Tang geteilt.
- Finanzierungsquelle: Etwa 22 Millionen US-Dollar Betriebskapital von TCP und TCPI, gehalten auf Margin-Konten, wurden verwendet, um die Beteiligung zu erwerben.
- Neue strategische Entwicklung 鈥� unterzeichneter Fusionsvertrag (7. Juli 2025):
- 碍盲耻蹿别谤: Concentra Biosciences, LLC; Vehikel: Concentra Merger Sub VII, Inc.
- 脺产别谤苍补丑尘别辫谤别颈蝉: 4,379 US-Dollar in bar pro CRGX-Aktie plus ein bedingtes Wertrecht (CVR).
- Nachfolgende Fusion: Merger Sub wird in Cargo Therapeutics fusionieren, wobei Cargo als Tochtergesellschaft von Concentra fortbesteht.
- Wesentliche Abschlussbedingungen: (i) >50 % der ausstehenden Aktien werden angeboten; (ii) Abschluss-Netto-Cash 鈮� 217,5 Mio. US-Dollar; (iii) 眉bliche regulatorische und verfahrensm盲脽ige Bedingungen.
- Begrenzte Garantie: TCP hat f眉r bestimmte Verpflichtungen aus dem Fusionsvertrag eine Garantie mit einer Obergrenze von 213,1 Mio. US-Dollar 眉产别谤苍辞尘尘别苍.
- CVR-Struktur: Inhaber haben Anspruch auf (i) 100 % des Abschluss-Netto-Cash 眉ber 217,5 Mio. US-Dollar hinaus und (ii) 80 % der Nettoerl枚se aus einem Verkauf, einer 脺bertragung oder Lizenzierung von CRG-022, CRG-023 oder der allogenen Plattform des Unternehmens innerhalb von zwei Jahren nach der Fusion, vorbehaltlich einer 250.000 US-Dollar Ausgabenobergrenze.
- Keine j眉ngste Handelsaktivit盲t: Die meldenden Personen haben in den letzten 60 Tagen keine CRGX-Aktientransaktionen durchgef眉hrt.
Die 脛nderung informiert Investoren haupts盲chlich 眉ber den Barkauf- und CVR-脺bernahmevorschlag, beschreibt finanzielle Schutzmechanismen (Garantie, Cash-Schwelle) und aktualisiert die unver盲nderte Eigentumsposition der Gruppe von 6,6 %.
FAQ
What percentage of Cargo Therapeutics (CRGX) shares does Tang Capital currently own?
What is the cash consideration in Concentra鈥檚 tender offer for CRGX?
How does the contingent value right (CVR) work for CRGX investors?
What conditions must be met for the CRGX tender offer to close?
Did Tang Capital trade CRGX shares in the last 60 days?
