0001850270false00018502702024-11-202024-11-20

 

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): November 20, 2024

 

 

PROKIDNEY CORP.

(Exact name of Registrant as Specified in Its Charter)

 

 

Cayman Islands

001-40560

98-1586514

(State or Other Jurisdiction
of Incorporation)

(Commission File Number)

(IRS Employer
Identification No.)

 

 

 

 

 

2000 Frontis Plaza Blvd.

Suite 250

 

Winston-Salem, North Carolina

 

27103

(Address of Principal Executive Offices)

 

(Zip Code)

 

Registrant’s Telephone Number, Including Area Code: 336 999-7019

 

 

(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 class

 

Trading
Symbol(s)

 


Name of each exchange on which registered

Class A ordinary shares, $0.0001 par value per share

 

PROK

 

The Nasdaq Stock Market

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 1.01 Entry into a Material Definitive Agreement.

On November 20, 2024, ProKidney Corp. (the “Company”), through its wholly owned subsidiary, ProKidney Acquisition Company, LLC, entered into a purchase agreement with Breit SE Industrial Propco NC LP (the “Agreement”) to purchase two buildings on adjacent parcels in Winston-Salem, North Carolina, portions of which buildings the Company now occupies pursuant to real estate leases. The two buildings represent total usable space of approximately 180,000 square feet and are expected to support the Company’s manufacturing operations for rilparencel, the Company’s lead product candidate. Under the Agreement, the Company will pay approximately $22.5 million in cash for the buildings and land. The Agreement contains customary representations. The transaction is expected to close by the end of November 2024, upon satisfaction of customary closing conditions.

 

The foregoing description of the Agreement is qualified in its entirety by reference to the full text of such agreement, which the Company intends to file as an exhibit to its Annual Report on Form 10-K for the year ended December 31, 2024.

 

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.

 

 

 

PROKIDNEY CORP.

 

 

 

 

Date:

November 22, 2024

By:

/s/ James Coulston

 

 

 

Name: James Coulston
Title: Chief Financial Officer

 

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Document And Entity Information
Nov. 20, 2024
Cover [Abstract]  
Document Type 8-K
Amendment Flag false
Document Period End Date Nov. 20, 2024
Entity Registrant Name PROKIDNEY CORP.
Entity Central Index Key 0001850270
Entity Emerging Growth Company true
Entity File Number 001-40560
Entity Incorporation, State or Country Code E9
Entity Tax Identification Number 98-1586514
Entity Address, Address Line One 2000 Frontis Plaza Blvd.
Entity Address, Address Line Two Suite 250
Entity Address, City or Town Winston-Salem
Entity Address, State or Province NC
Entity Address, Postal Zip Code 27103
City Area Code 336
Local Phone Number 999-7019
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Pre-commencement Tender Offer false
Pre-commencement Issuer Tender Offer false
Entity Ex Transition Period false
Title of 12(b) Security Class A ordinary shares, $0.0001 par value per share
Trading Symbol PROK
Security Exchange Name NASDAQ
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