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AI brief of an SEC Form 8-K · Bolt Biotherapeutics, Inc. (BOLT)

Bolt completes Prana Therapies acquisition; $120 million private placement

Mixed Impact 5 of 5 m&a Written later

Bolt Biotherapeutics acquired Prana Therapies through a stock-for-stock reverse merger and, concurrently, agreed to a $120 million upfront private placement of Series D preferred stock. After the financing, pre-transaction Bolt holders are expected to own about 6.9% of common stock, Prana holders about 51.7%, and private placement investors about 41.4%, so existing Bolt shareholders face substantial dilution and a major change in ownership.

Key points

  • Bolt issued 430,746 shares of common stock and 16,360.929 shares of Series D preferred stock to Prana stockholders; each preferred share converts into 1,000 common shares.
  • The private placement covers 13,995.311 Series D preferred shares for $120 million in upfront gross proceeds, with warrants for up to an additional $60 million upon exercise.
  • Conversion of the Series D preferred stock requires Bolt stockholder approval, and the private placement is expected to close on October 26, 2026.
  • The company expects the financing to fund operations into 2028; lead program PRA-216 has Phase 2 patient data expected from the second quarter through the fourth quarter of 2027.

The filing

CompanyBolt Biotherapeutics, Inc. (BOLT)
Form8-K, current report
Filed with the SECOct 23, 2026, 10:31 AM ET
Accession number0001193125-26-429647

Items reported: 1.01 Material Definitive Agreement1.02 Termination of Material Agreement2.01 Acquisition or Disposition Completed3.02 Unregistered Equity Sale5.02 Director / Officer Change5.03 Bylaw / Charter Amendment7.01 Regulation FD Disclosure8.01 Other Events

Read the filing on SEC.gov ↗

Written by AI on Nov 9, 2026, 8:53 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on October 23, 2026.

Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.