Zura Bio Limited (Nasdaq: ZURA), a clinical-stage immunology company specializing in dual-pathway antibodies for autoimmune and inflammatory diseases, has completed its exchange offer and consent solicitation for its outstanding IPO warrants. This includes both public warrants, which trade under the symbol “ZURAW” on Nasdaq, and private placement warrants issued during its initial public offering. In the exchange offer, Zura Bio issued 3,235,184 ordinary shares in exchange for the tendered IPO warrants.
Additionally, Zura Bio has amended the warrant agreement and will proceed with the post-offer exchange of all remaining untendered IPO warrants. Under the terms of the amendment, each remaining warrant will be exchanged for 0.27 Class A ordinary shares. This exchange is scheduled to take place on August 27, 2024.
Following the completion of these transactions, no IPO warrants will remain outstanding. As a result, the IPO warrants will be suspended from trading on Nasdaq as of the close of business on August 26, 2024, and will be delisted. However, Zura Bio’s Class A ordinary shares will continue to be listed and traded under the symbol “ZURA.”
Cantor Fitzgerald & Co. acted as the dealer manager, Alliance Advisors, LLC served as the information agent, and Continental Stock Transfer & Trust Company was the exchange agent for the Exchange Offer and Consent Solicitation.
About Zura Bio
Zura Bio is a clinical-stage immunology company developing innovative dual-pathway antibodies for autoimmune and inflammatory diseases. The company’s pipeline includes tibulizumab (ZB-106), crebankitug (ZB-168), and torudokimab (ZB-880), all of which have completed Phase 1/1b studies and are advancing to Phase 2 trials. Zura Bio aims to address unmet needs in conditions like systemic sclerosis and other autoimmune disorders with these promising therapeutic candidates.
