Updated Business Description
CalciMedica, Inc. (the “Company”) is filing certain information for the purpose of updating descriptions of the Company’s business contained in the Company’s other filings with the Securities and Exchange Commission (the “SEC”). Copies of the additional disclosure is attached as Exhibits 99.1 to this report and incorporated herein by reference.
Recasted Statements
As previously reported, on March 20, 2023, the Delaware corporation formerly known as “Graybug Vision, Inc.” completed its previously announced merger transaction in accordance with the terms and conditions of the Agreement and Plan of Merger and Reorganization, dated as of November 21, 2022, as amended on February 10, 2023 (the “Merger Agreement”), by and among Graybug Vision, Inc. (“Graybug”), Camaro Merger Sub, Inc., a wholly owned subsidiary of Graybug (“Merger Sub”), and CalciMedica, Inc. (“Private CalciMedica”), pursuant to which Merger Sub merged with and into Private CalciMedica, with Private CalciMedica surviving the merger as a wholly owned subsidiary of Graybug (the “Merger”). Additionally, on March 20, 2023, the Company changed its name from “Graybug Vision, Inc.” to “CalciMedica, Inc.”.
As previously reported, on March 17, 2023, in connection with the transactions contemplated by the Merger Agreement, Graybug filed an Amended and Restated Certificate of Incorporation effecting a reverse stock split of Graybug’s common stock at a ratio of 14:1 (the “Reverse Stock Split”). In connection with the Merger, the Company issued common stock to Private CalciMedica stockholders based on an exchange ratio of approximately 0.0288 shares of common stock for each share of Private CalciMedica capital stock (which exchange ratio reflects the Reverse Stock Split) (the “Exchange Ratio”). To reflect the Exchange Ratio, the audited financial statements of Private CalciMedica as of December 31, 2022 and 2021 and for the years then ended have been recasted and are filed herewith as Exhibit 99.2. There have been no other changes to such financial statements.
Cautionary Statement Regarding Forward-Looking Statements
This Current Report on Form 8-K contains forward-looking statements which include, but are not limited to, statements regarding the Company’s business strategy; the design and potential benefits of Auxora; the Company’s plans and expected timing for developing its product candidates and potential benefits of its product candidates; the Company’s ongoing and planned clinical trials; the development and outcomes of CARPO and CRSPA trial programs, including the milestones, data announcements, expected enrollment and any other potential results related thereto; and the timing and likelihood of regulatory filings and approvals for the Company’s product candidates. These forward-looking statements are subject to the safe harbor provisions under the Private Securities Litigation Reform Act of 1995. The Company’s expectations and beliefs regarding these matters may not materialize. Actual outcomes and results may differ materially from those contemplated by these forward-looking statements as a result of uncertainties, risks, and changes in circumstances, including but not limited to risks and uncertainties related to: the impact of fluctuations in global financial markets on the Company’s business and the actions it may take in response thereto; the Company’s ability to execute its plans and strategies; the ability to obtain and maintain regulatory approval for Auxora; results from clinical trials may not be indicative of results that may be observed in the future; potential safety and other complications from Auxora; the scope progress and expansion of developing and commercializing Auxora; the size and growth of the market therefor and the rate and degree of market
