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[8-K] Mersana Therapeutics, Inc. Reports Material Event

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Rhea-AI Filing Summary

Mersana Therapeutics, Inc. (MRSN) has filed an 8-K disclosing that it will implement a 1-for-25 reverse stock split, effective 5:00 p.m. ET on 25 Jul 2025. Each block of 25 outstanding common shares will be reclassified into one share; fractional shares will be cashed out. The maneuver does not alter the company’s authorized share count or par value, but all equity incentive plan share pools and outstanding awards will be proportionally adjusted.

The reverse split is intended to restore compliance with Nasdaq’s $1.00 minimum bid price requirement, which the company previously flagged in its 2025 proxy. Post-split trading will commence on 28 Jul 2025 under the existing ticker “MRSN” with a new CUSIP of 59045L205.

No other material events, financial results or changes in fiscal year were reported. A copy of the Certificate of Amendment is attached as Exhibit 3.1.

Mersana Therapeutics, Inc. (MRSN) ha presentato un modulo 8-K comunicando che attuerà un raggruppamento azionario inverso 1-per-25, con efficacia dalle 17:00 ET del 25 luglio 2025. Ogni blocco di 25 azioni ordinarie in circolazione sarà convertito in un'unica azione; le frazioni di azioni verranno liquidate in contanti. Questa operazione non modifica il numero autorizzato di azioni della società né il valore nominale, ma tutti i pool di azioni relativi ai piani di incentivazione azionaria e i premi in essere saranno adeguati proporzionalmente.

Il raggruppamento inverso è finalizzato a ristabilire la conformità al requisito minimo di prezzo di offerta di 1,00 dollaro di Nasdaq, già segnalato dalla società nella sua proxy del 2025. Le negoziazioni post-raggruppamento inizieranno il 28 luglio 2025 con il ticker esistente “MRSN” e un nuovo CUSIP 59045L205.

Non sono stati riportati altri eventi rilevanti, risultati finanziari o modifiche dell’anno fiscale. Una copia del Certificato di Modifica è allegata come Esibizione 3.1.

Mersana Therapeutics, Inc. (MRSN) ha presentado un formulario 8-K informando que implementará una consolidación inversa de acciones 1 por 25, efectiva a las 5:00 p.m. ET del 25 de julio de 2025. Cada bloque de 25 acciones comunes en circulación se reclasificará en una acción; las acciones fraccionarias serán pagadas en efectivo. Esta maniobra no altera el número autorizado de acciones ni el valor nominal, pero todos los grupos de acciones de planes de incentivos y premios vigentes se ajustarán proporcionalmente.

La consolidación inversa tiene como objetivo restaurar el cumplimiento con el requisito mínimo de precio de oferta de 1,00 dólar de Nasdaq, que la empresa ya había señalado en su proxy de 2025. Las operaciones tras la consolidación comenzarán el 28 de julio de 2025 bajo el ticker existente “MRSN” con un nuevo CUSIP 59045L205.

No se reportaron otros eventos materiales, resultados financieros ni cambios en el año fiscal. Se adjunta una copia del Certificado de Enmienda como Anexo 3.1.

Mersana Therapeutics, Inc. (MRSN)는 2025년 7월 25일 오후 5시(동부시간)부터 시행되는 1대 25 역주식 분할을 실시한다고 8-K 보고서를 통해 공시했습니다. 기존에 발행된 보통주 25주마다 1주로 재분류되며, 소수 주식은 현금으로 정산됩니다. 이 조치는 회사의 승인된 발행 주식 수나 액면가에는 영향을 미치지 않지만, 모든 주식 인센티브 플랜의 주식 풀과 미지급 보상은 비례하여 조정됩니다.

이번 역주식 분할은 회사가 2025년 위임장에서 이미 언급한 나스닥의 최소 입찰 가격 $1.00 요건을 충족시키기 위한 것입니다. 분할 후 거래는 2025년 7월 28일 기존 티커 “MRSN”으로 시작되며, 신규 CUSIP 번호는 59045L205입니다.

기타 중대한 사건, 재무 결과 또는 회계연도 변경 사항은 보고되지 않았습니다. 개정 증명서 사본은 부록 3.1로 첨부되어 있습니다.

Mersana Therapeutics, Inc. (MRSN) a déposé un formulaire 8-K révélant qu'elle procédera à un regroupement d'actions inversé au ratio de 1 pour 25, effectif à 17h00 ET le 25 juillet 2025. Chaque bloc de 25 actions ordinaires en circulation sera converti en une action ; les fractions d'actions seront rachetées en espèces. Cette opération ne modifie pas le nombre d'actions autorisées ni la valeur nominale, mais tous les pools d'actions liés aux plans d'incitation et les récompenses en cours seront ajustés proportionnellement.

Le regroupement vise à rétablir la conformité avec l'exigence minimale de prix d'offre de 1,00 $ du Nasdaq, déjà signalée par la société dans sa procuration de 2025. Les échanges post-regroupement débuteront le 28 juillet 2025 sous le symbole actuel « MRSN » avec un nouveau CUSIP 59045L205.

Aucun autre événement important, résultat financier ou changement d'exercice fiscal n'a été signalé. Une copie du certificat de modification est jointe en annexe 3.1.

Mersana Therapeutics, Inc. (MRSN) hat eine 8-K-Meldung eingereicht, in der bekannt gegeben wird, dass ein 1-zu-25 Reverse-Aktien-Split zum 25. Juli 2025 um 17:00 Uhr ET durchgeführt wird. Je 25 ausstehende Stammaktien werden in eine Aktie umgewandelt; Bruchstücke werden bar ausgezahlt. Dieser Schritt ändert nicht die genehmigte Aktienanzahl oder den Nennwert des Unternehmens, jedoch werden alle Aktienpools der Aktienanreizpläne und ausstehenden Awards proportional angepasst.

Der Reverse-Split soll die Einhaltung der Nasdaq-Mindestgebotspreisanforderung von 1,00 USD wiederherstellen, die das Unternehmen bereits in seiner Proxy für 2025 angekündigt hatte. Der Handel nach dem Split beginnt am 28. Juli 2025 unter dem bestehenden Ticker „MRSN“ mit einer neuen CUSIP 59045L205.

Weitere wesentliche Ereignisse, Finanzergebnisse oder Änderungen des Geschäftsjahres wurden nicht gemeldet. Eine Kopie der Änderungsurkunde ist als Anlage 3.1 beigefügt.

Positive
  • Regains Nasdaq compliance by boosting bid price above $1, avoiding potential delisting and related liquidity loss.
  • No change to authorized share count or par value, preventing immediate dilution from the split itself.
Negative
  • Reverse split signals sustained share-price weakness, which can erode investor confidence.
  • Potential liquidity reduction as share count decreases, possibly widening spreads and increasing volatility.
  • Unchanged authorized share cap leaves room for future share issuances that could dilute existing holders.

Insights

TL;DR: Reverse split averts delisting risk but signals persistent price pressure; valuation unchanged.

The 1-for-25 reverse split eliminates the imminent threat of a Nasdaq delisting by lifting the nominal share price above $1. While purely mechanical, such actions often reflect weak market sentiment and can decrease liquidity. Because authorized shares remain unchanged, potential future dilution capacity is intact. Absent operating updates, the split alone is neutral to intrinsic value, yet investors should monitor post-split bid-ask spreads and any subsequent capital-raising plans.

TL;DR: Governance compliant action, but reverse splits historically precede equity raises—watch dilution risk.

The company followed proper Delaware and SEC procedures, referencing prior shareholder authorization in the June proxy. Cash in lieu of fractional shares simplifies shareholder mechanics. However, maintaining the same authorized share pool keeps the board’s flexibility to issue shares, which, combined with a higher per-share price, can facilitate future financings that may dilute current holders. Overall governance execution is sound, but the market may interpret the move as a prelude to additional capital needs.

Mersana Therapeutics, Inc. (MRSN) ha presentato un modulo 8-K comunicando che attuerà un raggruppamento azionario inverso 1-per-25, con efficacia dalle 17:00 ET del 25 luglio 2025. Ogni blocco di 25 azioni ordinarie in circolazione sarà convertito in un'unica azione; le frazioni di azioni verranno liquidate in contanti. Questa operazione non modifica il numero autorizzato di azioni della società né il valore nominale, ma tutti i pool di azioni relativi ai piani di incentivazione azionaria e i premi in essere saranno adeguati proporzionalmente.

Il raggruppamento inverso è finalizzato a ristabilire la conformità al requisito minimo di prezzo di offerta di 1,00 dollaro di Nasdaq, già segnalato dalla società nella sua proxy del 2025. Le negoziazioni post-raggruppamento inizieranno il 28 luglio 2025 con il ticker esistente “MRSN” e un nuovo CUSIP 59045L205.

Non sono stati riportati altri eventi rilevanti, risultati finanziari o modifiche dell’anno fiscale. Una copia del Certificato di Modifica è allegata come Esibizione 3.1.

Mersana Therapeutics, Inc. (MRSN) ha presentado un formulario 8-K informando que implementará una consolidación inversa de acciones 1 por 25, efectiva a las 5:00 p.m. ET del 25 de julio de 2025. Cada bloque de 25 acciones comunes en circulación se reclasificará en una acción; las acciones fraccionarias serán pagadas en efectivo. Esta maniobra no altera el número autorizado de acciones ni el valor nominal, pero todos los grupos de acciones de planes de incentivos y premios vigentes se ajustarán proporcionalmente.

La consolidación inversa tiene como objetivo restaurar el cumplimiento con el requisito mínimo de precio de oferta de 1,00 dólar de Nasdaq, que la empresa ya había señalado en su proxy de 2025. Las operaciones tras la consolidación comenzarán el 28 de julio de 2025 bajo el ticker existente “MRSN” con un nuevo CUSIP 59045L205.

No se reportaron otros eventos materiales, resultados financieros ni cambios en el año fiscal. Se adjunta una copia del Certificado de Enmienda como Anexo 3.1.

Mersana Therapeutics, Inc. (MRSN)는 2025년 7월 25일 오후 5시(동부시간)부터 시행되는 1대 25 역주식 분할을 실시한다고 8-K 보고서를 통해 공시했습니다. 기존에 발행된 보통주 25주마다 1주로 재분류되며, 소수 주식은 현금으로 정산됩니다. 이 조치는 회사의 승인된 발행 주식 수나 액면가에는 영향을 미치지 않지만, 모든 주식 인센티브 플랜의 주식 풀과 미지급 보상은 비례하여 조정됩니다.

이번 역주식 분할은 회사가 2025년 위임장에서 이미 언급한 나스닥의 최소 입찰 가격 $1.00 요건을 충족시키기 위한 것입니다. 분할 후 거래는 2025년 7월 28일 기존 티커 “MRSN”으로 시작되며, 신규 CUSIP 번호는 59045L205입니다.

기타 중대한 사건, 재무 결과 또는 회계연도 변경 사항은 보고되지 않았습니다. 개정 증명서 사본은 부록 3.1로 첨부되어 있습니다.

Mersana Therapeutics, Inc. (MRSN) a déposé un formulaire 8-K révélant qu'elle procédera à un regroupement d'actions inversé au ratio de 1 pour 25, effectif à 17h00 ET le 25 juillet 2025. Chaque bloc de 25 actions ordinaires en circulation sera converti en une action ; les fractions d'actions seront rachetées en espèces. Cette opération ne modifie pas le nombre d'actions autorisées ni la valeur nominale, mais tous les pools d'actions liés aux plans d'incitation et les récompenses en cours seront ajustés proportionnellement.

Le regroupement vise à rétablir la conformité avec l'exigence minimale de prix d'offre de 1,00 $ du Nasdaq, déjà signalée par la société dans sa procuration de 2025. Les échanges post-regroupement débuteront le 28 juillet 2025 sous le symbole actuel « MRSN » avec un nouveau CUSIP 59045L205.

Aucun autre événement important, résultat financier ou changement d'exercice fiscal n'a été signalé. Une copie du certificat de modification est jointe en annexe 3.1.

Mersana Therapeutics, Inc. (MRSN) hat eine 8-K-Meldung eingereicht, in der bekannt gegeben wird, dass ein 1-zu-25 Reverse-Aktien-Split zum 25. Juli 2025 um 17:00 Uhr ET durchgeführt wird. Je 25 ausstehende Stammaktien werden in eine Aktie umgewandelt; Bruchstücke werden bar ausgezahlt. Dieser Schritt ändert nicht die genehmigte Aktienanzahl oder den Nennwert des Unternehmens, jedoch werden alle Aktienpools der Aktienanreizpläne und ausstehenden Awards proportional angepasst.

Der Reverse-Split soll die Einhaltung der Nasdaq-Mindestgebotspreisanforderung von 1,00 USD wiederherstellen, die das Unternehmen bereits in seiner Proxy für 2025 angekündigt hatte. Der Handel nach dem Split beginnt am 28. Juli 2025 unter dem bestehenden Ticker „MRSN“ mit einer neuen CUSIP 59045L205.

Weitere wesentliche Ereignisse, Finanzergebnisse oder Änderungen des Geschäftsjahres wurden nicht gemeldet. Eine Kopie der Änderungsurkunde ist als Anlage 3.1 beigefügt.

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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): July 24, 2025

 

 

 

MERSANA THERAPEUTICS, INC.

(Exact name of registrant as specified in its charter)

 

 

 

Delaware     001-38129     04-3562403  
(State or other jurisdiction
of incorporation)
 

(Commission

File Number)  

 

(IRS Employer

Identification No.)  

 

840 Memorial Drive
Cambridge
, Massachusetts
  02139

(Address of Principal Executive Offices)

  (Zip Code)  

 

Registrant’s telephone number, including area code: (617) 498-0020

 

Not Applicable

(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 (see General Instruction A.2. below):

 

¨         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 class Trading Symbol(s) Name of each exchange on which registered
Common Stock, $0.0001 par value MRSN The Nasdaq Stock Market LLC

 

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 3.03Material Modification to Rights of Security Holders.

 

To the extent required by Item 3.03 of Form 8-K, the information contained in Item 5.03 of this Current Report on Form 8-K is incorporated herein by reference.

 

Item 5.03Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year.

 

On July 24, 2025, Mersana Therapeutics, Inc. (the “Company”) filed a Certificate of Amendment to the Company’s Fifth Amended and Restated Certificate of Incorporation, as amended, (the “Certificate of Amendment”) with the Secretary of State of the State of Delaware, which will effect, as of 5:00 p.m. Eastern Time, on July 25, 2025 (the “Effective Time”), a 1-for-25 reverse stock split (the “Reverse Stock Split”) of the issued and outstanding shares of the Company’s common stock, $0.0001 par value per share (the “Common Stock”).

 

The Reverse Stock Split is intended, among other things, to bring the Company into compliance with the minimum bid price requirement for continued listing on the Nasdaq Global Select Market, as previously reported in the Company’s definitive proxy statement for the Company’s annual meeting of stockholders held on June 12, 2025, as filed with the Securities and Exchange Commission on April 29, 2025 (the “Proxy Statement”).

 

At the Effective Time, every twenty-five shares of issued and outstanding Common Stock will be automatically reclassified and combined into one share of Common Stock. No fractional shares will be issued in connection with the Reverse Stock Split. Stockholders who would otherwise be entitled to a fractional share of Common Stock are instead entitled to receive a cash payment in lieu of such fractional shares.

 

The Reverse Stock Split will not change the number of authorized shares of Common Stock or the par value of the Common Stock. Proportionate adjustments will be made to the number of shares of Common Stock available for issuance under the Company’s equity incentive plans, as well as the number of shares underlying, and the exercise prices of, outstanding equity awards under such plans, in accordance with their respective terms and as described in the Proxy Statement.

 

The Common Stock is expected to begin trading on a post-Reverse Stock Split basis at the market open on July 28, 2025 under the Company’s existing trading symbol “MRSN”. The new CUSIP number for the Common Stock following the Reverse Stock Split is 59045L205.

 

The foregoing description of the Certificate of Amendment does not purport to be complete and is qualified in its entirety by reference to the complete text of the Certificate of Amendment, a copy of which is attached hereto as Exhibit 3.1 and is incorporated herein by reference.

 

Item 9.01.Financial Statements and Exhibits.

 

(d) Exhibits

 

Exhibit No. Description
3.1 Certificate of Amendment to Fifth Amended and Restated Certificate of Incorporation, as amended, of Mersana Therapeutics, Inc.
104 Cover Page Interactive Data File (embedded within the Inline XBRL document).

 

 

 

SIGNATURES

 

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.

 

  MERSANA THERAPEUTICS, INC.
     
     
Date: July 24, 2025 By: /s/ Brian DeSchuytner
    Brian DeSchuytner
    Senior Vice President, Chief Operating Officer and Chief Financial Officer

 

 

FAQ

Why did Mersana Therapeutics (MRSN) execute a 1-for-25 reverse stock split?

To raise its share price above Nasdaq’s $1.00 threshold and maintain listing compliance.

When does Mersana's reverse split take effect and begin trading?

The split is effective 25 Jul 2025 at 5:00 p.m. ET; post-split trading starts 28 Jul 2025.

Will Mersana issue fractional shares after the split?

No; fractional positions will be settled with a cash payment.

Does the reverse split change the number of authorized shares or par value?

No, authorized share count and the $0.0001 par value remain the same.

What is the new CUSIP number for MRSN common stock?

Post-split shares will trade under CUSIP 59045L205.
Mersana Therapeutics Inc

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