# EDGAR Filing Document

**Accession Number:** 0001834645
**File Stem:** 0001193125-23-066237
**Filing Date:** 2023-3
**Character Count:** 13464
**Document Hash:** 655357449c764a6158600d5ab0b194ff
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-23-066237.hdr.sgml**: 20230309

**ACCESSION NUMBER**: 0001193125-23-066237

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 16

**CONFORMED PERIOD OF REPORT**: 20230303

**ITEM INFORMATION**: Entry into a Material Definitive Agreement

**ITEM INFORMATION**: Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20230309

**DATE AS OF CHANGE**: 20230309

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Peak Bio, Inc.
- **CENTRAL INDEX KEY:** 0001834645
- **STANDARD INDUSTRIAL CLASSIFICATION:** BIOLOGICAL PRODUCTS (NO DIAGNOSTIC SUBSTANCES) [2836]
- **IRS NUMBER:** 852448157
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-39951
- **FILM NUMBER:** 23720528

**BUSINESS ADDRESS:**
- **STREET 1:** 3350 W BAYSHORE RD. SUITE 100
- **CITY:** PALO ALTO
- **STATE:** CA
- **ZIP:** 94303
- **BUSINESS PHONE:** (650) 549-9103

**MAIL ADDRESS:**
- **STREET 1:** 3350 W BAYSHORE RD. SUITE 100
- **CITY:** PALO ALTO
- **STATE:** CA
- **ZIP:** 94303

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Ignyte Acquisition Corp.
- **DATE OF NAME CHANGE:** 20201202

?xml version="1.0" encoding="utf-8" ? 8-K

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### UNITED STATES

### SECURITIES AND EXCHANGE COMMISSION

#### Washington, D.C. 20549

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### FORM 8-K

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#### CURRENT REPORT

#### PURSUANT TO SECTION 13 OR 15(D)

#### OF THE SECURITIES EXCHANGE ACT OF 1934

#### Date of Report (Date of earliest event reported): March 3, 2023

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## Peak Bio, Inc.

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

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| | | |
|:---|:---|:---|
| **Delaware** | **001-39951** | **85-2448157** |
| **(State or other jurisdiction**<br> **of incorporation)** | **(Commission**<br> **File Number)** | **(I.R.S. Employer**<br> **Identification No.)** |

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#### 3350 W. Bayshore Rd., Suite 100

#### Palo Alto, CA 94303

#### (Address of principal executive offices, including zip code)
(650) 549-9103

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

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

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

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| | | |
|:---|:---|:---|
| **Title of each class** | **Trading<br>Symbols** | **Name of each exchange**<br> **on which registered** |
| Common stock, par value $0.0001 per share | PKBO | OTC Pink |
| Warrants, each whole warrant exercisable for one share of common stock for $11.50 per share | PKBOW | OTC Pink |

---

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

☐ Written communication 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-commencements communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

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. ☐

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| | |
|:---|:---|
| **Item 1.01.** | **Entry Into a Material Definitive Agreement.** |

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On March 3, 2023, Peak Bio, Inc., a Delaware corporation (the "Company"), delivered a promissory note (the "Promissory Note") to Hannol Ventures LLC (the "Beneficiary"). Dr. Hoyoung Huh, the Company's founder and a director, is the Beneficiary's sole member. Pursuant to the terms of the Promissory Note, the Company promised to pay to the order of Beneficiary the principal sum $250,000 with interest on the unpaid balance from the date of the Promissory Note, until paid, at the rate of 5% per annum. The Promissory Note matures on December 31, 2023 (the "Maturity Date"). In the event that the Company fails to pay the balance due and owing under the Promissory Note by the Maturity Date, the Company shall be obligated to pay to the Beneficiary all fees and expenses incurred by the Beneficiary as a result of such failure by the Company, and all outstanding obligations of the Company owing under the Promissory Note shall accrue interest at the lower of (i) 2% per annum and (ii) the highest non-usurious interest rate allowed under the law from and after the Maturity Date until paid by the Company. The Company may prepay all or any portion of this Promissory Note on any date without premium or penalty.

The foregoing description of the Promissory Note is not complete and is subject to, and qualified in its entirety by reference to, the full text of the Promissory Note, which is included as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein by this reference.

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| | |
|:---|:---|
| **Item 2.03** | **Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.** |

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The information set forth in Item 1.01 of this Current Report on Form 8-K is incorporated by reference into this Item 2.03.

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

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*(d) Exhibits.* 

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| | |
|:---|:---|
| **Exhibit**<br> **Number** | **Description** |
| 10.1\* | [Unsecured Promissory Notes, dated as of March 3, 2023, delivered by Peak Bio, Inc. to Hannol Ventures LLC.](d472520dex101.htm) |
| 104 | Cover Page Interactive Data File (formatted as Inline XBRL) |

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\* Filed herewith.

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

Dated: March 9, 2023

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| | |
|:---|:---|
| **PEAK BIO, INC.** | **PEAK BIO, INC.** |
| By: | /s/ Stephen LaMond |
| Name: | Stephen LaMond |
| Title: | Interim Chief Executive Officer and<br> Chief Operating Officer |

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## Exhibit 10.1

**Exhibit 10.1** 

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| | |
|:---|:---|
| Peak Bio, Inc.<br> 3350 W Bayshore Rd, Suite 100<br> Palo Alto, CA 94303 | ![LOGO](g472520g39j13.jpg) |

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**UNSECURED PROMISSORY NOTE** 

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| | |
|:---|:---|
| Principal Sum: $250,000 | March 3, 2023 |

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This Promissory Note is being delivered by Peak Bio, Inc. ("<u>Maker</u>") to Hannol Ventures LLC ("<u>Beneficiary</u>").

<u>Promise to Pay</u>. For value received, Maker promises to pay to the order of Beneficiary the principal sum of Two Hundred and Fifty Thousand Dollars ($250,000.00) with interest on the unpaid balance from the date of this Note, until paid, at the rate of five percent (5%) per annum.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. <u>Terms of Payment</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Principal shall be due and payable along with accrued interest on maturity date of December 31, 2023 (the "<u>Maturity Date</u>").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) All payments made shall be first applied to the payment of accrued interest, costs, fees, attorney fees and the balance thereof shall be applied to the payment of principal sum.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) All amounts payable hereunder shall be paid in lawful money of the United States of America

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. <u>Extensions of Maturity Date</u>. The Maturity Date of this Promissory Note may occur only with the written consent of Beneficiary.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. <u>Prepayment</u>. Maker may prepay all or any portion of this Promissory Note on any date without premium or penalty.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. <u>Successors and Assigns</u>. This Promissory Note shall be binding upon and inure to the benefit of the parties, their respective successors and permitted assigns, provided that no obligation of Maker hereunder may be assigned without the prior written consent of Beneficiary.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. <u>Governing Law</u>. All questions or issues with respect to this Promissory Note and the rights and liabilities of the parties shall be governed by the laws of California.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. <u>Extension Not a Waiver</u>. No delay or omission in the exercise of any power, remedy or right herein provided or otherwise available to any party shall impair or affect the right of such party thereafter to exercise the same. Any extension of time or other indulgence granted to a party hereunder shall not otherwise alter or affect any power, remedy or right of any other party, or the obligations of the party to whom such extension or indulgence is granted except as specifically waived.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. <u>Attorneys' Fees and Interest in the Event of Default by Maker</u>. In the event that Maker fails to pay the balance due and owing under this Promissory Note by the Maturity Date, Maker shall be obligated to pay to Beneficiary all fees and expenses incurred by Beneficiary as a result of Maker's default, and all outstanding obligations of Maker owing under this Promissory Note shall accrue interest at the lower of (i) 2% per annum and (ii) the highest non-usurious interest rate allowed under the law from and after the Maturity Date until paid by Maker. In the event of any litigation or other action to collect or enforce on this Promissory Note following the Maturity Date, Beneficiary shall be entitled to, in addition to any other damages, its reasonable attorneys' fees, and all other costs and expenses incurred in connection with such litigation or action. The attorneys' fees which Beneficiary is entitled to recover

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| | |
|:---|:---|
| Peak Bio, Inc.<br> 3350 W Bayshore Rd, Suite 100<br> Palo Alto, CA 94303 | ![LOGO](g472520g39j13.jpg) |

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shall include fees for prosecuting or defending any appeal and shall be awarded for any supplemental proceedings until the final judgment is satisfied in full. In addition to the foregoing award of attorneys' fees to Beneficiary, Beneficiary shall be entitled to its reasonable attorneys' fees incurred in any post judgment proceedings to collect or enforce the judgment. This attorneys' fees provision is separate and several and shall survive the merger of this Promissory Note into any judgment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. <u>Absolute Obligations</u>. Maker specifically and knowingly waives any rights of offset, recoupment, deduction or any other similar defense to this Promissory Note, and Maker waives presentment, notice of nonpayment or dishonor, protest, notice of protest, and all other notices in connection with the delivery, acceptance, performance, default, or enforcement of this Promissory Note.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10. <u>Usury Law</u>. Notwithstanding any other provision contained in this Promissory Note, the rate of interest payable under this Promissory Note in the event of default by Maker shall not at any time exceed a rate which, when combined with any and all other charges provided for in this Promissory Note or any other document executed in connection with this Promissory Note (to the extent such other charges would constitute interest for the purpose of any applicable law limiting interest which may be charged hereunder), exceeds the maximum interest rate permitted by law with respect to the transactions contemplated hereby.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11. <u>Amendments</u>. All amendments or modifications to this Promissory Note, or any waiver or consent by Beneficiary, must be in writing and signed by both Beneficiary and Maker.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12. <u>Severability</u>. In the event any provision of this Promissory Note shall for any reason be held to be invalid, illegal or unenforceable, the same shall not affect any other provision of this Promissory Note, and the remaining provisions of this Promissory Note shall remain in full force and effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13. <u>Waiver of Jury Trial</u>. MAKER HEREBY WAIVES THE RIGHT TO TRIAL BY JURY IN ANY ACTION OR PROCEEDING BASED UPON, ARISING OUT OF, OR IN ANY WAY RELATING TO THIS PROMISSORY NOTE OR BASED UPON ANY CONDUCT, ACTS OR OMISSIONS OF BENEFICIARY ARISING OUT OF THE TRANSACTIONS CONTEMPLATED HEREBY, WHETHER SOUNDING IN TORT OR CONTRACT OR OTHERWISE. THE FOREGOING WAIVERS HAVE BEEN MADE WITH THE ADVICE OF COUNSEL AND WITH FULL UNDERSTANDING OF THE LEGAL CONSEQUENCES THEREOF.

IN WITNESS WHEREOF, Maker has executed this Promissory Note as of the day and year set forth above.

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| | |
|:---|:---|
| Peak Bio Inc. | Peak Bio Inc. |
| By: | ![LOGO](g472520g04e81.jpg) <br>|
| Name: | Stephen LaMond |
| Title: | COO |

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