# EDGAR Filing Document

**Accession Number:** 0001604821
**File Stem:** 0001104659-25-118664
**Filing Date:** 2025-12
**Character Count:** 16323
**Document Hash:** 6876cfd22488ff9e91dd0feb253fb653
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001104659-25-118664.hdr.sgml**: 20251205

**ACCESSION NUMBER**: 0001104659-25-118664

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 15

**CONFORMED PERIOD OF REPORT**: 20251204

**ITEM INFORMATION**: Unregistered Sales of Equity Securities

**ITEM INFORMATION**: Other Events

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20251205

**DATE AS OF CHANGE**: 20251205

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Natera, Inc.
- **CENTRAL INDEX KEY:** 0001604821
- **STANDARD INDUSTRIAL CLASSIFICATION:** SERVICES-MEDICAL LABORATORIES [8071]
- **ORGANIZATION NAME:** 08 Industrial Applications and Services
- **EIN:** 010894487
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-37478
- **FILM NUMBER:** 251551211

**BUSINESS ADDRESS:**
- **STREET 1:** 13011 MCCALLEN PASS
- **STREET 2:** BUILDING A SUITE 100
- **CITY:** AUSTIN
- **STATE:** TX
- **ZIP:** 78753
- **BUSINESS PHONE:** 650-249-9090

**MAIL ADDRESS:**
- **STREET 1:** 13011 MCCALLEN PASS
- **STREET 2:** BUILDING A SUITE 100
- **CITY:** AUSTIN
- **STATE:** TX
- **ZIP:** 78753

?xml version='1.0' encoding='ASCII'?

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM 8-K** 

**CURRENT REPORT**

**Pursuant to Section 13 or 15(d) of**

**the Securities Exchange Act of 1934**

**Date of Report (Date of earliest event reported): December 4, 2025**

**Natera, Inc.** 

**(Exact name of registrant as specified in its charter)** 

---

| | | |
|:---|:---|:---|
| **Delaware** | **001-37478** | **01-0894487** |
| **(State or other jurisdiction<br> of incorporation)** | **(Commission<br> File Number)** | **(IRS Employer<br> Identification No.)** |

---

**13011 McCallen Pass Building A Suite 100** 

**Austin, TX 78753**

**(Address of principal executive offices, including zip code)** 

**(650) 980-9190**

**(Registrant's telephone number, including area code)** 

**N/A**

**(Former name or former address, if changed since last report)**

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

◻ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

◻ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

◻ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

◻ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

---

| | | |
|:---|:---|:---|
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered |
| Common Stock, par value $0.0001 per share | NTRA | Nasdaq Stock Market LLC<br> (Nasdaq Global Select Market) |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ◻

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ◻

Item 3.02. Unregistered Sales of Equity Securities.

On December 4, 2025, Natera, Inc. (the "Company") acquired Foresight Diagnostics Inc. ("Foresight"), a privately held cancer diagnostics company and Clinical Laboratory Improvement Amendments-registered laboratory that specializes in molecular residual disease detection in B-cell lymphomas, pursuant to that certain Agreement and Plan of Merger, dated as of October 10, 2025, by and among the Company, Falcon Acquisition Sub, Inc., a wholly owned subsidiary of the Company, Foresight and Fortis Advisors, LLC (the "Merger Agreement"). As consideration for the acquisition, the Company agreed to issue to the stockholders of Foresight: (i) 1,127,982 shares of common stock, par value $0.0001 per share (the "Common Stock"), of the Company (the "Consideration Shares"); and (ii) an estimated 824,583 additional shares that may become issuable to the stockholders of Foresight after the closing of the transactions pursuant to the Merger Agreement (the "Potentially Issuable Shares"), consisting of (a) shares held in an escrow account that may be released to the stockholders of Foresight pursuant to the terms of the Merger Agreement, (b) shares that may become issuable to the stockholders of Foresight as milestone payments pursuant to the terms of the Merger Agreement, contingent upon the achievement of milestones specified in the Merger Agreement, (c) shares that may become issuable to the stockholders of Foresight pursuant to certain post-closing purchase price adjustments pursuant to the terms of the Merger Agreement and (d) shares that may become issuable to the stockholders of Foresight in accordance with a formula set forth in the Merger Agreement (the "Price Protection Shares").

The number of Potentially Issuable Shares is based on a good faith estimate of the number of shares issuable to the stockholders of Foresight pursuant to the Merger Agreement within the next three years, and such amount is not an indication or prediction of how many of such shares will ultimately be issued, because the actual number of shares issuable depends on a variety of factors, including whether there are any post-closing adjustments to the purchase price, the actual number of shares released from escrow, the future trading price of the Common Stock, the prices and volumes at which shares may be resold by the stockholders of Foresight within the specified price protection period and whether certain milestones are achieved, among other things.

The issuance of the Consideration Shares and the Potentially Issuable Shares that the Company elects to issue will not be initially registered under the Securities Act of 1933, as amended (the "Securities Act"), or any state securities laws. Based in part upon the representations of the stockholders of Foresight in the Merger Agreement, the Company has relied on the exemption from the registration requirements of the Securities Act under Section 4(a)(2) thereof for a transaction by an issuer not involving any public offering. In connection with the closing of the transaction, the Company also intends to file an automatically effective registration statement on Form S-3, registering for re-sale the Consideration Shares and the Potentially Issuable Shares.

---

| | |
|:---|:---|
| **Item 8.01.** | **Other Events.** |

---

On December 5, 2025, the Company issued a press release announcing its acquisition of Foresight. A copy of the press release is filed herewith as Exhibit 99.1 to this Current Report on Form 8-K and incorporated herein by reference.

**Forward-Looking Statements** 

All statements other than statements of historical facts contained in this Current Report on Form 8-K are forward-looking statements and are not a representation that the Company's plans, estimates, or expectations will be achieved. These forward-looking statements, including those regarding the issuance of the Potentially Issuable Shares, represent the Company's expectations as of the date of this Current Report on Form 8-K, and are based on current expectations and are subject to risks and uncertainties that could cause actual results to differ materially, including whether there are any post-closing adjustments to the purchase price, the actual number of shares released from escrow, the future trading price of the Common Stock, the prices and volumes at which shares may be resold by the stockholders of Foresight within the specified price protection period and whether certain milestones are achieved. Additional risks and uncertainties are discussed in greater detail in "Risk Factors" in the Company's recent filings on Forms 10-K and 10-Q and in other filings the Company makes with the U.S. Securities and Exchange Commission from time to time.

---

| | |
|:---|:---|
| **Item 9.01.** | **Financial Statements and Exhibits.** |

---

(d) Exhibits.

---

| | |
|:---|:---|
| **Exhibit No.** | **Description** |
| [99.1](tm2532406d4_ex99-1.htm) | [Press Release dated December 5, 2025.](tm2532406d4_ex99-1.htm) |
| 104 | Cover Page Interactive Data File (formatted as inline XBRL). |

---

**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

---

| | |
|:---|:---|
| Natera, Inc. | Natera, Inc. |
| By: | */s/ Michael Brophy* |
|  | Michael Brophy |
|  | Chief Financial Officer (Principal Financial and Accounting Officer) |

---

Dated: December 5, 2025

## Exhibit 99.1

**Exhibit 99.1**

---

| | |
|:---|:---|
| ![](tm2523406d4_ex99-1img001.jpg) | ![](tm2523406d4_ex99-1img002.jpg) |

---

**Natera Acquires Foresight Diagnostics**

*Expands Natera's lead in solid tumor MRD, acquiring ultrasensitive phased variant technology with LOD95 of 0.3 parts per million (ppm) and detection below 0.1 ppm<sup>1</sup>*

*Cutting-edge IP adds to Natera's portfolio of >500 issued or pending patents*

*Accelerates Natera's expansion into lymphoma, where Foresight has developed a strong clinical position*

**Austin, TX, and Boulder, CO – December 5, 2025** – Natera, Inc. (NASDAQ: NTRA), a global leader in cell-free DNA and precision medicine, and Foresight Diagnostics, a leader in ultrasensitive molecular residual disease (MRD) detection, today announced that Natera has completed a transaction to acquire Foresight.

Foresight is a cancer diagnostics company and CLIA-registered laboratory. The company's circulating tumor DNA (ctDNA)-based MRD tests leverage its patented PhasED-Seq™ technology, targeting phased variants. With this technology, Foresight has reported performance with LOD95 of 0.3 parts per million and detection below 0.1 ppm<sup>1</sup>.

Foresight was founded by Stanford University physicians and scientists, Maximilian Diehn, M.D., Ph.D., Ash Alizadeh, M.D., Ph.D., and David Kurtz, M.D., Ph.D., together with Jake Chabon, Ph.D., Foresight's chief scientific officer and chief executive officer. The company has authored more than 40 scientific publications and presentations and partnered with more than 30 biopharma and academic researchers.

<u>Strategic Rationale</u>

The transaction combines Natera's leading commercial and operational infrastructure for the delivery of personalized MRD testing with Foresight's unique phased variant technology and leadership in lymphoma. It builds on Natera's broad intellectual property portfolio for tumor-informed and personalized MRD products including in phased variants, and promises to accelerate MRD adoption in lymphoma and other solid tumor types.

&nbsp;&nbsp;&nbsp;&nbsp;· **Signatera**™ **platform with phased variants:** The integration of phased variants into the Signatera
 platform will further differentiate and strengthen test performance across solid tumors.
 This enhanced version is available immediately for research use for biopharma and academic
 partners and is expected to be launched for clinical use in 2026.

&nbsp;&nbsp;&nbsp;&nbsp;· **Leadership in lymphoma:** The transaction builds on Foresight's clinical research momentum in B-cell
 lymphomas, a large patient population with more than 75,000 new cases annually in the U.S.<sup>2</sup>
 Earlier this year, Foresight data provided the foundation
 for the inclusion of ctDNA MRD into the National Comprehensive Cancer Network® (NCCN®)
 Clinical Practice Guidelines for diffuse large B-cell lymphoma. Additionally, Foresight's
 CLARITY™ MRD assay for lymphoma is being
 used in three prospective MRD-driven clinical trials informing treatment decisions for patients.
 Foresight CLARITY joins Natera's extensive MRD product portfolio and will continue
 to support clinical trials, translational research and future applications.

At the American Society of Hematology (ASH) Annual Meeting beginning on December 6, Natera and Foresight will have a total of 15 abstracts featuring Signatera and PhasED-Seq, including seven oral presentations.

<u>Transaction Terms</u>

Natera has closed the acquisition of Foresight in an all-stock transaction consisting of a $275 million upfront with an additional $175 million in earnouts tied to the achievement of revenue- and reimbursement-based milestones.

"This acquisition reinforces Natera's position at the forefront of precision oncology," said Steve Chapman, chief executive officer of Natera. "Foresight's phased variant technology and leadership in lymphoma complement Natera's strong capabilities in personalized MRD testing, improving the value we can deliver to patients, clinicians, biopharma partners and the broader healthcare system."

"Foresight's mission has always been to improve the lives of cancer patients worldwide through innovative diagnostics," said Chabon. "As we join Natera, I'm deeply grateful to our employees, partners and investors who have helped bring us to this moment. Together, we can realize this mission on a far greater scale, accelerating the pace of discovery across both hematologic and solid tumors."

Gibson, Dunn & Crutcher LLP is serving as legal counsel to Natera. Wilson Sonsini Goodrich & Rosati is serving as legal counsel to Foresight, while Centerview Partners LLC is acting as its financial advisor.

**References**

&nbsp;&nbsp;&nbsp;&nbsp;1. Cabel L, Jeon YJ, Parikh AR, et al. Ultrasensitive Phased Variant
 Detection Enables Improved ctDNA-Based MRD Assessment Across Solid Tumors. Presented at:
 European Society for Medical Oncology (ESMO) Annual Meeting; 2024.

&nbsp;&nbsp;&nbsp;&nbsp;2. American Cancer Society. *Types of B-cell Lymphoma.* American
 Cancer Society. <u>https://www.cancer.org/cancer/types/non-hodgkin-lymphoma/about/b-cell-lymphoma.html</u>.
 Accessed November 26, 2025.

**About Natera**

Natera™ is a global leader in cell-free DNA and precision medicine, dedicated to oncology, women's health, and organ health. We aim to make personalized genetic testing and diagnostics part of the standard-of-care to protect health and inform earlier, more targeted interventions that help lead to longer, healthier lives. Natera's tests are supported by more than 325 peer-reviewed publications that demonstrate excellent performance. Natera operates ISO 13485-certified and CAP-accredited laboratories certified under the Clinical Laboratory Improvement Amendments (CLIA) in Austin, Texas, and San Carlos, California. For more information, visit <u>www.natera.com</u>.

**Forward-Looking Statements**

All statements other than statements of historical facts contained in this press release are forward-looking statements and are not a representation that Natera's plans, estimates, or expectations will be achieved. These forward-looking statements, including those regarding the expected benefits of the Foresight acquisition, integration of technologies, clinical and commercial opportunities, and future performance, represent Natera's expectations as of the date of this press release, and are based on current expectations and are subject to risks and uncertainties that could cause actual results to differ materially, including the ability to integrate Foresight's business, realize anticipated benefits, achieve expected clinical or commercial outcomes, obtain or maintain reimbursement coverage, and respond to competitive or regulatory developments. Additional risks and uncertainties are discussed in greater detail in "Risk Factors" in Natera's recent filings on Forms 10-K and 10-Q and in other filings Natera makes with the SEC from time to time. These documents are available at www.natera.com/investors and www.sec.gov.

**Contacts**

Investor Relations: Mike Brophy, CFO, Natera, Inc., <u>investor@natera.com</u>

Media: Lesley Bogdanow, VP of Corporate Communications, Natera, Inc., <u>pr@natera.com</u>