Company: CPMV
Filing Date: 2025-01-02
Form Type: 8-K
Source: 0001683168-25-000009
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Company: Mosaic ImmunoEngineering Inc.
Filing Date: 2025-01-02
Form: 8-K
Item: Item 8.01
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Item 8.01      Other Events  

As previously reported
on Form 8-K on April 29, 2024, Mosaic ImmunoEngineering, Inc. a Delaware corporation (the “ Company” or “ Mosaic”),
entered into a binding term sheet on April 26, 2024 (the “ Binding Term Sheet”) with Oncotelic Therapeutics, Inc.
(“ Oncotelic”) whereby the Company intends to acquire certain rights to technologies from Oncotelic, including its clinical
stage necroptosis cancer therapies associated with Oncotelic’s vascular disruptive agents (“ VDAs”) and related regulatory
and clinical packages. The Company will also have access to Oncotelic’s proprietary Artificial Intelligence (“ AI”) technologies
for identifying immunotherapy combinations. In exchange for the rights to these technologies, the Company would issue Oncotelic shares
of its common stock valued at $15.0 million upon execution of the definitive agreement, or a combination common stock and preferred stock
to be determined by the parties, along with additional milestones allowing Oncotelic to earn up to an additional $15.0 million in shares
of common stock that would be valued at the time of issuance, if earned.

Pursuant to the Binding Term Sheet, the parties
agreed to negotiate in good faith towards the execution of the definitive agreement and the closing of the transactions contemplated thereby,
which will be subject to customary due diligence and other conditions as described in the Binding Term Sheet.

On December 31, 2024, the Company and Oncotelic
agreed to extend the expiration date to June 30, 2025 to allow additional time to enter into a possible transaction under the Binding
Term Sheet. The Company and Oncotelic are continuing to pursue a potential transaction under the Binding Term Sheet although there are
no guarantees we will enter into any definitive agreement. A copy of the letter extending the term is filed herewith as Exhibit 10.1 to
this Current Report on Form 8-K.

The information in this Item 8.01, including Exhibit
10.1 attached hereto, is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Exchange Act, or
otherwise subject to the liabilities of that section. The information contained herein and in the accompanying exhibit is not incorporated
by reference in any filing of the Company under the Securities Act or the Exchange Act, whether made before or after the date hereof,
regardless of any general incorporation language