Valion Bio, Inc 8-K, filed Oct 14, 2022

Valion Bio, Inc. (VBIO)

8-K 2022-10-14 For: 2022-10-07

View Original

Added on April 10, 2026

About this 8-K

Valion Bio, Inc filed this 8-K on October 14, 2022, reporting on events of October 7, 2022.

Items reported

Item 1.01: Entered into a material agreement
Item 9.01: Financial statements and exhibits

Search and read filings like this one from Claude or ChatGPT with the SEC filings MCP server →


Delaware	001-41052	81-4016391
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)


Exhibit No.		Description

2.1*†		Asset Purchase Agreement dated October 7, 2022 by and among the Company, RB Buyer Co, LLC, Reliefband Technologies, LLC, Reliefband’s beneficial owners and the Shareholder Representative.

104		Cover Page Interactive Data File (embedded within the Inline XBRL document).


TIVIC HEALTH SYSTEMS, INC.

By:		/s/ Jennifer Ernst
Name:		Jennifer Ernst
Title:		Chief Executive Officer


		Page

ARTICLE 1 PURCHASE AND SALE		5
Section 1.1	Assets	5
Section 1.2	Excluded Assets	8
Section 1.3	Assumed Liabilities	9
Section 1.4	Excluded Liabilities	10
Section 1.5	Purchase Price	11
Section 1.6	Closing	12
Section 1.7	Seller Transaction Expenses and Intendedness	12
Section 1.8	Adjustment to Purchase Price	13
Section 1.9	Withholding	14
Section 1.10	Purchase Price Allocation	14

ARTICLE 2 REPRESENTATIONS AND WARRANTIES WITH RESPECT TO SELLER AND THE BENEFICIAL OWNERS		15
Section 2.1	Organization; Standing and Power; Authorization	15
Section 2.2	Capitalization; No Subsidiaries	16
Section 2.3	Consents and Approvals	17
Section 2.4	No Violation	17
Section 2.5	Brokers or Finders	17
Section 2.6	Financial Statements and Financial Data	17
Section 2.7	Absence of Undisclosed Liabilities	18
Section 2.8	Absence of Changes or Events	19
Section 2.9	Assets	20
Section 2.10	Inventory	20
Section 2.11	Business Intellectual Property	20
Section 2.12	Contracts	27
Section 2.13	Litigation	29
Section 2.14	Compliance with Applicable Laws	30
Section 2.15	Government Contracts	30
Section 2.16	Licenses and Permits	30
Section 2.17	Health, Safety and Environment	30
Section 2.18	Taxes	31
Section 2.19	Insurance Policies	32
Section 2.20	Employee Benefit Plans	33
Section 2.21	Employees; Labor Relations	34
Section 2.22	Transactions with Related Parties	36
Section 2.23	Real Property	36
Section 2.24	Vendors	37
Section 2.25	Customers	37
Section 2.26	Products	37
Section 2.27	Trade Names; Business Locations	38
Section 2.28	Workers’ Compensation	38
Section 2.29	Import and Export Laws	38
Section 2.30	Anticorruption Laws	39


Section 2.31	CFIUS	39
Section 2.32	Certain Regulatory Matters	39
Section 2.33	Books and Records	44
Section 2.34	Representations Complete	44
Section 2.35	No other Representations and Warranties	44

ARTICLE 3 REPRESENTATIONS AND WARRANTIES OF BUYER		44
Section 3.1	Organization	44
Section 3.2	Authorization	44
Section 3.3	Consents and Approvals	45
Section 3.4	No Violation	45
Section 3.5	No Brokers or Finders	45
Section 3.6	Disclosure	45
Section 3.7	No other Representations and Warranties	45

ARTICLE 4 REPRESENTATIONS AND WARRANTIES BY PARENT		45
Section 4.1	Organization	45
Section 4.2	Authorization	46
Section 4.3	Consents and Approvals	46
Section 4.4	No Violation	46
Section 4.5	No Brokers or Finders	46
Section 4.6	SEC Reports	46
Section 4.7	Financing	47
Section 4.8	Disclosure	47
Section 4.9	No other Representations and Warranties	47

ARTICLE 5 COVENANTS		47
Section 5.1	Interim Operations	47
Section 5.2	Access to Information and Management; Meetings; Investigation	50
Section 5.3	Notification	50
Section 5.4	Commercially Reasonable Efforts	51
Section 5.5	Exclusivity	51
Section 5.6	Public Announcements	52
Section 5.7	Expenses	52
Section 5.8	Regulatory Consents	52
Section 5.9	Further Assurances	52
Section 5.10	Insurance Matters	53
Section 5.11	Post-Closing Remittances	53
Section 5.12	Change in Name	53
Section 5.13	Preservation of Records	53
Section 5.14	Written Consent; Seller Equityholder Approval	54
Section 5.15	R&W Insurance Policy	54
Section 5.16	Financing	54
Section 5.17	Audits	54
Section 5.18	Third Party Agreements	55


ARTICLE 6 CONDITIONS TO CLOSING		55
Section 6.1	Conditions to the Obligations of Both Parties	55
Section 6.2	Conditions to the Obligations of Seller	55
Section 6.3	Conditions to the Obligations of Buyer	56

ARTICLE 7 TERMINATION		57
Section 7.1	Termination	57
Section 7.2	Notice of Termination	57
Section 7.3	Effect of Termination	58
Section 7.4	Breakup Fee	58

ARTICLE 8 INDEMNIFICATION		58
Section 8.1	Survival	58
Section 8.2	Indemnification by Seller and Beneficial Owners	58
Section 8.3	Indemnification by Buyer	59
Section 8.4	Indemnification Procedure for Third Party Claims	60
Section 8.5	Claims for Indemnification	62
Section 8.6	Certain Limitations	62
Section 8.7	Indemnification as Sole Remedy	63
Section 8.8	Payment	63
Section 8.9	Purchase Price Adjustment	64
Section 8.10	Insurance Proceeds and Other Payments	64
Section 8.11	Mitigation	64
Section 8.12	Beneficial Owner Representative	64

ARTICLE 9 CLOSING DELIVERABLES		65
Section 9.1	Deliveries by Seller to Buyer	65
Section 9.2	Deliveries by Buyer	66

ARTICLE 10 COVENANTS AND OTHER AGREEMENTS		66
Section 10.1	Non-Competition; Confidentiality	66
Section 10.2	Consents; Nonassignable Assets	69
Section 10.3	Agreements Regarding Tax Matters	69
Section 10.4	Post-Closing Operations	70
Section 10.5	Further Assurances	71
Section 10.6	Payment of Excluded Liabilities	71
Section 10.7	State and Local Taxes	71
Section 10.8	Certain Regulatory Filings	72

ARTICLE 11 MISCELLANEOUS		72
Section 11.1	Notices	72
Section 11.2	Definitions	73
Section 11.3	Entire Agreement; Amendment	85
Section 11.4	Counterparts; Deliveries	86
Section 11.5	Third Parties	86
Section 11.6	Waiver	86
Section 11.7	Governing Law	86
Section 11.8	Assignments	86


Section 11.9	Headings	87
Section 11.10	Jurisdiction of Courts	87
Section 11.11	Arbitration	87
Section 11.12	WAIVER OF JURY TRIAL	88
Section 11.13	Construction	88
Section 11.14	Knowledge	88
Section 11.15	Interpretive Matters	89
Section 11.16	Invalid Provisions	89
Section 11.17	Beneficial Owner Signature Page	89
Section 11.18	Beneficial Owner Representative	89
Section 11.19	Beneficial Owner Waiver	93
Section 11.20	Beneficial Owner Release	94


If to Seller or Beneficial Owners:		300 Welsh Road
		Building 1, Suite 100
		Horsham, PA 19044
		Attn: Richard Ransom
		Email: [***]

with a copy (which shall not constitute notice) to:		Bevilacqua PLLC
		1050 Connecticut Avenue, N.W.
		Suite 500
		Washington, D.C. 20036
		Attn: Louis A. Bevilacqua, Esq.
		Email: [***]



If to Buyer or Parent:		RB Buyer Co, LLC
		Tivic Health Systems, Inc.
		5821 Industrial Blvd., Suite 100
		Hayward, CA 94545
		Attn: Jennifer Ernst
		Email: [***]
with a copy (which shall not constitute notice) to:
		Procopio, Cory, Hargreaves & Savitch LLP
		Five Palo Alto Square
		3000 El Camino Real, Suite 400
		Palo Alto, CA 94306
		Attn: Roger C. Rappoport, Esq.
		Email: [***]

If to Beneficial Owner Representative or, following the Closing, to Beneficial Owners:

		Shareholder Representative Services LLC
		950 17^th Street, Suite 1400
		Denver, CO 80202
		Attn: Managing Director
		Email: [***]


Applicable Date	39	Balance Sheet	17
Governmental Program Agreement	42	Beneficial Owner	5
Net Working Capital Calculation	13	Beneficial Owners	5
Recall	41	Bill of Sale	8
AAA	87	Board Recommendation	54
Agreement	5	Business	5
Allocation Notice	15	Business IP Agreements	28
Alternative Transaction	51	Buyer	5, 22
Anti-Kickback Statute	41	Buyer Indemnified Parties	58
Arbitrator	88	Buyer Indemnified Party	58
Assets	8	Cap	63
Assigned Permits	7	Certified Purchase Price	13
Assumed Contracts	6	Claim Notice	62
Assumed Liabilities	9	Closing	12


Closing Date			12
Closing Statement			13
Confidential Information			67
Defense Counsel			60
Defense Notice			60
Dispute			87
Dispute Notice			14
Dispute Notification Period			14
DPA			39
Employee Benefit Plan			33
Employee Benefit Plans			33
Employee List			34
Employment Practices			36
Engagement Letter			47
Estimated Closing Statement			13
Estimated Indebtedness			13
Estimated Net Working Capital			13
Estimated Purchase Price			13
Estimated Seller Transaction Expenses			13
Exchange Act			46
Excluded Assets			8
Excluded Contracts			8
Excluded Liabilities			10
Export Permits			39
FCPA			39
Final Allocation Statement			15
Final Determination			64
Final Indebtedness			13
Final Net Working Capital			13
Final Purchase Price			13
Final Seller Transaction Expenses			13
Financial Statements			17
Harmful Code			24
Indemnified Party			60
Indemnifying Party			60
Independent Accounting Firm			14
Inventory			6
Knowledge of Seller			88
Leased Real Property			36


Liens			5
Losses			58
Objection			62
Parent			5
Parent Common Stock			11
Parent SEC Documents			46
Parties			5
Party			5
Payables			9
Payoff Letters			65
Payor Agreement			43
Personnel Records			9
Proceedings			29
Proposed Allocation Statement			14
Purchase Price			11
R&W Policy			54
Real Property Lease			36
Receivables			6
Records			7
Registered Intellectual Property			20
Registration Rights Agreement			12
Regulatory Filings			7
Rules			87
Sarbanes-Oxley Act			46
Seller			5, 22
Seller Disclosure Schedule			15
Seller Equityholder Approval			54
Seller Indemnified Parties			59
Seller Indemnified Party			59
Standards Organizations			22
Stock Amount			11
Straddle Period			70
Tangible Personal Property			6
Term			67
Third Party Claim			60
Transfer Taxes			70
Worker			36
Written Consent			54


RB BUYER CO, LLC

By:		/s/ Jennifer Ernst
Name:		Jennifer Ernst
Its:		Manager


TIVIC HEALTH SYSTEMS, INC.

By:		/s/ Jennifer Ernst
Name:		Jennifer Ernst
Its:		Chief Executive Officer


RELIEFBAND TECHNOLOGIES, LLC

By:		/s/ Richard Ransom
Name:		Richard Ransom
Its:		Chief Executive Officer


SHAREHOLDER REPRESENTATIVE SERVICES LLC

By:		/s/ Corey Quinlan
Name:		Corey Quinlan
Its:		Director


Date:

Print Name Above

Sign Above

If signer is an entity, specify name and title of authorized signer below:

Name:
Title:



RECIPIENT

Signed:
Printed Name:
Address:


SELLER:

RELIEFBAND TECHNOLOGIES, LLC.
a Delaware limited liability company

By:


PARENT

Tivic Health Systems, Inc.,
a Delaware corporation

By:
		Jennifer Ernst, Chief Executive Officer


BUYER:

RB Buyer Co, LLC,
a Delaware limited liability company

By: