Jasper Therapeutics Confirms CVR Terms for Kira Acquisition

What Happened
Jasper Therapeutics, Inc. filed an 8-K (July 31, 2026) to confirm details of contingent value rights (CVRs) issued in connection with its July 16, 2026 acquisition of Kira Pharmaceuticals. Each holder of Jasper common stock of record immediately prior to the merger effective time received one CVR per share. The CVRs entitle holders to a pro rata share of a $30.0 million Milestone Payment if the FDA issues a Priority Review Voucher for briquilimab on or before December 31, 2028. The company incorporated the CVR Agreement (Exhibit F to the Merger Agreement) by reference.

Key Details

• $30.0 million Milestone Payment payable pro rata if FDA issues a Priority Review Voucher for briquilimab by Dec 31, 2028.
• One CVR granted per share of common stock held as of the record date: July 16, 2026 (closing date of the Kira acquisition).
• Payment timing: if Milestone achieved and a Change of Control occurs, payment is due at closing of that Change of Control or 90 days after a Monetization Event; if no Monetization Event has occurred by the Expiration Date, CVRs continue until paid (payment 90 days after Monetization Event).
• CVRs are generally non-transferable, not certificated, and will not be registered or listed for trading.

Why It Matters
The CVRs create a contingent, limited future payment obligation tied to a regulatory milestone for briquilimab and to monetization/change-of-control events. For holders who owned shares on July 16, 2026 (the merger close), this is the only way to receive any share of the $30M milestone pool — the CVRs are not tradable on an exchange. For investors, the filing clarifies the structure, timing and caps of the contingent payment but does not represent an immediate cash inflow or recognized revenue; it represents a potential contingent liability or obligation that depends on future regulatory and transaction outcomes.