STOCK TITAN

Hanmi to acquire Aptose (OTC: APTOF) for C$2.41 per share

Filing Impact
(High)
Filing Sentiment
(Neutral)
Form Type
8-K

Rhea-AI Filing Summary

Aptose Biosciences Inc. announced that closing of its previously disclosed plan of arrangement with Hanmi Pharmaceutical has been delayed because certain Korean regulatory approvals are still in progress. The parties state they do not anticipate the review will prevent closing.

Aptose and Hanmi now target completing the arrangement in May. Upon completion, Hanmi will acquire all Aptose common shares not already owned or controlled by Hanmi and its affiliates, and remaining Aptose shareholders are expected to receive C$2.41 in cash per share, a 28% premium to the 30‑day VWAP of C$1.88.

Positive

  • None.

Negative

  • Closing of the Hanmi transaction has been delayed as certain Korean regulatory approvals remain in progress, and the company outlines multiple risks that could prevent completion or negatively affect Aptose’s share price and operations if the arrangement does not close.

Insights

Aptose–Hanmi deal is delayed for Korean approvals but terms and expectations remain unchanged.

Aptose Biosciences reports that its plan of arrangement with Hanmi Pharmaceutical is waiting on specific Korean regulatory approvals, pushing expected closing into May. The company explicitly notes the parties do not anticipate the ongoing review will prevent completion of the transaction.

Deal economics are reiterated: Hanmi would acquire all outstanding Aptose shares not already owned by Hanmi affiliates for C$2.41 per share, a 28% premium to the 30‑day VWAP of C$1.88. Forward‑looking statements highlight risks that the transaction may still not close, including failure to obtain approvals, competing offers, business disruption, and potential impact on Aptose’s share price.

Overall, this update mainly adjusts timing, not terms. Actual impact will depend on final outcomes of the Korean regulatory process and whether all closing conditions are ultimately satisfied, as emphasized in the detailed risk factors and cautionary language.

Item 7.01 Regulation FD Disclosure Disclosure
Material non-public information disclosed under Regulation Fair Disclosure, often investor presentations or guidance.
Item 9.01 Financial Statements and Exhibits Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Cash consideration per share C$2.41 per share Consideration for each Aptose common share under the arrangement
Premium to 30-day VWAP 28% Premium over 30-day VWAP on TSX before arrangement agreement
30-day VWAP reference price C$1.88 per share Aptose 30-day VWAP on Toronto Stock Exchange
Target closing month May New targeted timing to complete the arrangement
plan of arrangement regulatory
"closing of the previously announced arrangement (the “Arrangement”) with Hanmi Pharmaceutical"
A plan of arrangement is a formal, court-approved agreement that reorganizes ownership or assets of a company—such as merging businesses, exchanging shares for cash or other securities, or splitting off parts of the company. Investors should care because it can change the value, number, and rights of their holdings and is often binding once approved by both shareholders and a court, offering more legal certainty than a simple vote. Think of it as a legally supervised recipe for how a company will be reshaped and who ends up with what.
30-day VWAP financial
"represents a premium of 28% over Aptose’s 30-day VWAP of C$1.88"
Thirty-day VWAP is the average price at which a stock traded over the past 30 trading days, weighted by the number of shares traded at each price during that period. It matters to investors because it gives a clearer picture of the price buyers and sellers have actually paid—like a sales-weighted average for a store—and is used to judge whether current price action is fair, to benchmark trading performance, and to spot longer-term support or resistance levels.
forward-looking information regulatory
"This news release contains “forward-looking information” and “forward-looking statements”"
Forward-looking information are predictions, plans, estimates or expectations about a company’s future performance, results or events, such as sales forecasts, project timelines, or anticipated costs. It matters to investors because these statements guide expectations but rely on assumptions and uncertain factors—like a weather forecast for a business—so investors should treat them as informed guesses rather than guarantees and consider the risks and possible changes behind the numbers.
Regulation FD Disclosure regulatory
"Item 7.01. Regulation FD Disclosure."
Regulation FD disclosure requires public companies to share important, market-moving information with everyone at the same time instead of tipping off analysts or large investors first. Think of it as making sure all players on a field hear the same announcement simultaneously; that fairness helps investors trust that stock prices reflect the same information and reduces the risk of sudden, unfair trading advantages or regulatory penalties for selective leaks.
clinical-stage biotechnology company technical
"Aptose Biosciences Inc. is a clinical-stage biotechnology company"
hematology medical
"developing precision medicines addressing unmet medical needs in oncology, with an initial focus on hematology"
Hematology is the branch of medicine that studies blood, its components (like red and white cells and platelets), and disorders that affect them. For investors, it matters because treatments, diagnostics, and devices that diagnose or fix blood problems can drive sales, regulatory risk, and patent value—think of it as investments in the maintenance and repair of the body's delivery system, where breakthroughs or setbacks can quickly change a company's prospects.
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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

_________________

FORM 8-K

_________________

CURRENT REPORT

Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported):  April 30, 2026

_______________________________

Aptose Biosciences Inc.

(Exact name of registrant as specified in its charter)

_______________________________

Canada001-3200198-1136802
(State or Other Jurisdiction of Incorporation)(Commission File Number)(I.R.S. Employer Identification No.)

66 Wellington Street West, Suite 5300

TD Bank Tower, Box 48

Toronto, Ontario M5K 1E6
Canada

(Address of Principal Executive Offices) (Zip Code)

(647) 479-9828

(Registrant's telephone number, including area code)

 

(Former name or former address, if changed since last report)

_______________________________

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each classTrading Symbol(s)Name of each exchange on which registered
NoneN/AN/A

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 
 
Item 7.01. Regulation FD Disclosure.

 

On April 30, 2026, the Registrant issued a press release, a copy of which is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

 

In accordance with General Instruction B.2 of Form 8-K, the information in the press release attached as Exhibit 99.1 hereto shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), nor shall such information be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

 

Item 9.01. Financial Statements and Exhibits.

 

(d) Exhibits

 

Exhibit Number Description
   
99.1 Press Release dated April 30, 2026
104 Cover Page Interactive Data File (embedded within the Inline XBRL document)

 

 
 

SIGNATURE

 

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.

 

 Aptose Biosciences Inc.
   
  
Date: April 30, 2026By: /s/ William G. Rice, Ph.D.        
  William G. Rice, Ph.D.
  Chairman, President, and Chief Executive Officer
  

 

EXHIBIT 99.1

Aptose Biosciences Announces Update on Anticipated Timing of Closing of the Plan of Arrangement with Hanmi Pharmaceutical

SAN DIEGO and TORONTO, April 30, 2026 (GLOBE NEWSWIRE) -- Aptose Biosciences Inc. (“Aptose” or the “Company”) (TSX: APS; OTC: APTOF) announced today that closing of the previously announced arrangement (the “Arrangement”) with Hanmi Pharmaceutical Co. Ltd. (“Hanmi”) and HS North America Ltd., a wholly owned subsidiary of Hanmi (“Hanmi Purchaser” and together with Hanmi, the “Hanmi Purchasers”), has been delayed as certain Korean regulatory approvals pertaining to the Arrangement remain in progress. The parties do not anticipate that the review will prevent closing and continue to work toward completing the Arrangement that they now target for the month of May. The Company will provide a further update when available.

Transaction Details

As previously disclosed in the Company’s news release dated November 19, 2025 (here), upon the completion of the Arrangement, Hanmi will acquire all of the issued and outstanding common shares of Aptose (“Common Shares”) that are not currently owned or controlled by the Hanmi Purchasers or their respective affiliates and shareholders of Aptose, other than the Hanmi Purchasers and their respective affiliates that hold any Common Shares, will receive C$2.41 in cash per Common Share, which represents a premium of 28% over Aptose’s 30-day VWAP of C$1.88 on the Toronto Stock Exchange for the period immediately preceding entering into the Arrangement Agreement.

About Aptose

Aptose Biosciences Inc. is a clinical-stage biotechnology company committed to developing precision medicines addressing unmet medical needs in oncology, with an initial focus on hematology. The Company’s small molecule cancer therapeutics pipeline includes products designed to provide single agent efficacy and to enhance the efficacy of other anti-cancer therapies and regimens without overlapping toxicities. The Company’s lead clinical-stage compound TUS is an oral kinase inhibitor that has demonstrated activity as a monotherapy and in combination therapy in patients with relapsed or refractory AML and is being developed as a frontline triplet therapy in newly diagnosed AML. For more information, please visit www.aptose.com.

Forward Looking Statements

This news release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking information”) within the meaning of applicable securities laws. This information includes, but is not limited to, statements concerning our objectives, our strategies to achieve those objectives, as well as statements made with respect to management’s beliefs, plans, estimates, projections and intentions, and similar statements concerning anticipated future events, results, circumstances, performance or expectations that are not historical facts. In some cases, forward-looking information can be identified by the use of forward-looking terminology such as “expects”, “estimates”, “outlook”, “forecasts”, “projection”, “prospects”, “intends”, “anticipates”, “believes”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might”, “will”, “will be taken”, “occur” or “be achieved”. In addition, any statements that refer to expectations, intentions, projections, or other characterizations of future events or circumstances contain forward-looking information. Statements containing forward-looking information are not historical facts but instead represent management’s expectations, estimates and projections regarding future events or circumstances. Forward-looking information in this news release includes, among other things, statements relating to the receipt of certain Korea regulatory approvals and the timing of closing of the Arrangement.

Risks and uncertainties related to the transactions contemplated by the Transaction include, but are not limited to: the possibility that the Transaction will not be completed on the terms and conditions, or on the timing, currently contemplated, and that it may not be completed at all, due to a failure to obtain or satisfy, in a timely manner or otherwise, required regulatory, shareholder and Court approvals and other conditions to the completion of the Transaction or for other reasons; the risk that competing offers or acquisition proposals will be made; the negative impact that the failure to complete the Transaction for any reason could have on the price of the common shares of Aptose or on the business of Aptose; Hanmi Purchasers’ failure to pay the cash consideration at completion of the Transaction; the business of Aptose may experience significant disruptions, including loss of employees due to transaction related uncertainty, industry conditions or other factors; risks relating to employee retention; the risk of regulatory changes that may materially impact the business or the operations of Aptose; risks related to the diversion of management’s attention from Aptose’s ongoing business operations while the Transaction is pending; and other risks and uncertainties affecting Aptose, including those described in filings and reports Aptose may make from time to time with the Canadian securities authorities. Although we have attempted to identify important risk factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other risk factors not presently known to us or that we presently believe are not material that could also cause actual results or future events to differ materially from those expressed in such forward-looking information. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. No forward-looking statement is a guarantee of future results. Accordingly, you should not place undue reliance on forward-looking information, which speaks only as of the date made. The forward-looking information contained in this news release represents the Company’s expectations as of the date of this news release (or as the date they are otherwise stated to be made) and are subject to change after such date. However, the Company disclaims any intention or obligation or undertaking to update or revise any forward-looking information whether as a result of new information, future events or otherwise, except as required under applicable securities laws in Canada. All of the forward-looking information contained in this news release is expressly qualified by the foregoing cautionary statements.

This announcement is for informational purposes only and does not constitute an offer to purchase or a solicitation of an offer to sell, or an offer to sell or a solicitation of an offer to buy, common shares of Aptose.

For further information, please contact:

Aptose Biosciences Inc.
Susan Pietropaolo
Corporate Communications & Investor Relations 201-923-2049
spietropaolo@aptose.com

FAQ

What did Aptose Biosciences (APTOF) announce about the Hanmi transaction timing?

Aptose announced that closing of its arrangement with Hanmi has been delayed while certain Korean regulatory approvals remain in progress. The parties now target completing the arrangement in May and state they do not anticipate the ongoing review will prevent closing.

What consideration will Aptose Biosciences (APTOF) shareholders receive in the Hanmi deal?

Upon completion of the arrangement, Aptose shareholders other than Hanmi and its affiliates are expected to receive C$2.41 in cash per common share. This represents a 28% premium to Aptose’s 30‑day VWAP of C$1.88 on the Toronto Stock Exchange before the arrangement agreement.

Which Aptose Biosciences (APTOF) shares are being acquired by Hanmi under the arrangement?

Hanmi will acquire all issued and outstanding Aptose common shares not already owned or controlled by Hanmi, HS North America Ltd., or their respective affiliates. Existing Hanmi-affiliated holders that own Aptose shares will not receive the cash consideration for those already‑held shares.

What are the main risks Aptose Biosciences (APTOF) cites regarding completion of the Hanmi transaction?

Aptose highlights risks including failure to obtain required regulatory, shareholder, or court approvals, potential competing offers, Hanmi Purchasers not paying the cash consideration, business disruptions, employee retention challenges, and possible negative impacts on Aptose’s share price if the transaction does not close.

How does Aptose Biosciences (APTOF) describe the forward-looking nature of its Hanmi transaction statements?

Aptose classifies its comments on regulatory approvals and timing of closing as forward-looking information subject to risks and uncertainties. The company cautions that actual results may differ materially and disclaims any obligation to update these statements except as required under applicable Canadian securities laws.

What business focus does Aptose Biosciences (APTOF) emphasize in this announcement?

Aptose describes itself as a clinical-stage biotechnology company developing precision oncology medicines, initially focused on hematology. Its lead oral kinase inhibitor, TUS, has shown activity in relapsed or refractory AML and in combinations, and is being developed as part of frontline triplet therapy in newly diagnosed AML.

Filing Exhibits & Attachments

5 documents