Item 8.01 Other Events.
On November 22, 2022, Cyclerion Therapeutics, Inc. (the "Company") issued a
press release announcing that the Board of Directors of the Company acting
solely by all of its independent and disinterested members (the "Independent
Board") has reviewed the non-binding and unsolicited proposal received on
November 20, 2022, from a group that includes the Company's chief executive
officer, to among other things purchase certain assets of the Company. After
consultation with its legal and financial advisors, the Independent Board has
unanimously concluded that the proposal is not in the best interest of the
Company.
The Company does not intend to make any further statements regarding the
foregoing or any other M&A activity, unless and until it deems it appropriate or
necessary.
Item 9.01 Financial Statements and Exhibits.
(d)
Exhibit No. Description
99.1 Press Release of Cyclerion Therapeutics, Inc. dated November 22, 2022
104 Cover Page Interactive Data File
2
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