Every 8-K that First Wave BioPharma, Inc. (FWBI) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 8-K covers material events a company has to report between its quarterly reports, so if you follow FWBI and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full FWBI filings page.
Entero Therapeutics, Inc. reported a leadership change, removing Richard Joel Paolone as Interim Chief Executive Officer and Chairman of the Board on September 3, 2025, without cause and with immediate effect. The company states that his termination did not involve any disagreement over financial reporting, policies, or practices, and he will remain on the Board as a director.
In connection with this change, the company also ended Mr. Paolone’s February 12, 2025 consulting agreement, effective immediately, with payment in lieu of the contractual notice period. On September 4, 2025, the Board appointed director Jason D. Sawyer as Interim Chief Executive Officer, effective immediately. Sawyer brings decades of alternative investment experience and currently holds multiple finance and board roles at other companies, while his compensation as Interim CEO will be decided later.
Entero Therapeutics, Inc. approved and implemented a 1-for-3 reverse stock split of its common stock to help raise the share price and regain compliance with Nasdaq’s $1.00 minimum bid rule. Stockholders approved the move at a special meeting on June 30, 2025.
The reverse split becomes effective at 12:01 a.m. Eastern Time on August 18, 2025, when Entero’s common stock will begin trading on a split-adjusted basis under the symbol ENTO with a new CUSIP 33749P507. Fractional share positions will be cashed out, and authorized shares and par value for both common and preferred stock will remain unchanged.
Entero Therapeutics, Inc. entered a securities purchase agreement on August 9, 2025 to sell Pre-Funded Warrants to purchase up to 4,878,841 shares and Common Warrants to purchase up to 9,757,682 shares for gross proceeds of approximately $3,000,000. The combined purchase price for one Pre-Funded Warrant plus two Common Warrants is $0.6149. The company will receive $1,000,000 (less expenses) at closing and the remaining $2,000,000 when a resale registration statement is declared effective; closing is expected on August 11, 2025.
The Pre-Funded Warrants have a $0.00001 exercise price and no expiration. The Common Warrants have a $0.3649 exercise price, a five-year term tied to registration or resale availability, and permit cashless exercise if shares are not registered. Purchasers face a beneficial ownership limit of 4.99% (or elective 9.99%). Purchasers will receive 200,000 additional Consulting Warrants for $0.125 each, may designate two directors while owning ≥10%, and the board approved appointment of Geordan G. Pursglove and Jason D. Sawyer effective August 11, 2025, each to be paid $2,500 per month.