Alaunos Therapeutics, Inc. [TCRT] - Alaunos Therapeutics / Velaris Therapeutics merger
Alaunos Therapeutics, Inc. acquired Velaris Therapeutics, Inc. in a tax-free reorganization, issuing 105,286 shares of Series B Non-Voting Convertible Preferred Stock and 33,054 shares of Series C Non-Voting Convertible Preferred Stock to Velaris stockholders at the closing on October 13, 2026.
Why this matters
Alaunos Therapeutics, Inc., a Delaware-based company in the pharmaceutical preparations industry, focuses on developing innovative cancer therapies. On October 13, 2026, Alaunos completed a merger with Velaris Therapeutics, Inc. through a tax-free reorganization. As part of the transaction, Alaunos issued 105,286 shares of Series B Non-Voting Convertible Preferred Stock and 33,054 shares of Series C Non-Voting Convertible Preferred Stock to Velaris stockholders. The merger did not require approval from Alaunos stockholders, and post-closing, the development of Velaris's programs will proceed according to an agreed plan and budget, with oversight by the lead investor. Additionally, changes to the board of directors will occur upon stockholder approval of a conversion proposal, reflecting the influence of Velaris and the lead investor.