share_log

Novavax | 8-K: Confidential Settlement Agreements and Release Agreements

SEC announcement ·  Mar 26 16:07
Summary by Moomoo AI
Novavax, Inc. has entered into a settlement agreement with Fujifilm entities to resolve disputes over payments due under a previous agreement. The dispute arose from a Confidential Settlement Agreement and Release effective September 30, 2022, which required Novavax to pay up to $185 million to Fujifilm for the cancellation of manufacturing activities at FUJIFILM Diosynth Biotechnologies Texas, LLC. The final two payments totaling $68.6 million were contested by Novavax, leading to an arbitration demand by Fujifilm. The new settlement, reached on March 21, 2024, involves Novavax paying $42 million to Fujifilm and includes a mutual release of claims and the dismissal of the ongoing arbitration. This settlement will be detailed in Novavax's upcoming Quarterly Report on Form 10-Q for the quarter ending March 31, 2024.
Novavax, Inc. has entered into a settlement agreement with Fujifilm entities to resolve disputes over payments due under a previous agreement. The dispute arose from a Confidential Settlement Agreement and Release effective September 30, 2022, which required Novavax to pay up to $185 million to Fujifilm for the cancellation of manufacturing activities at FUJIFILM Diosynth Biotechnologies Texas, LLC. The final two payments totaling $68.6 million were contested by Novavax, leading to an arbitration demand by Fujifilm. The new settlement, reached on March 21, 2024, involves Novavax paying $42 million to Fujifilm and includes a mutual release of claims and the dismissal of the ongoing arbitration. This settlement will be detailed in Novavax's upcoming Quarterly Report on Form 10-Q for the quarter ending March 31, 2024.
Helpful
Not Helpful

This announcement is a separate document:

Doc 1

Disclaimer: This content is for informational and educational purposes only and does not constitute a recommendation or endorsement of any specific investment or investment strategy. Read more