Company: ZURA
Filing Date: 2025-04-17
Form Type: 8-K
Source: 0001104659-25-036057
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Company: Zura Bio Ltd
Filing Date: 2025-04-17
Form: 8-K
Item: Item 1.01
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Item 1.01.      Entry into a Material Definitive Agreement.  

Zura Bio Limited (the “ Company”)
entered into share surrender and warrant agreements (the “ Agreements”) with entities affiliated with Venrock Healthcare
Capital Partners (collectively, “ Venrock”) on April 16, 2025 and AI Biotechnology, LLC (“ AI Biotechnology”
and, together with Venrock, the “ Shareholders”) on April 17, 2025, pursuant to which (i) Venrock and AI Biotechnology
will surrender an aggregate of 3.5 million and 3.0 million shares, respectively, of the Company’s Class A ordinary shares, par
value $0.0001 per share (the “ Ordinary Shares”), owned by the Shareholders, for no consideration, which will
be immediately cancelled and retired, upon surrender; and (2) the Company will issue pre-funded warrants (the
“ Warrants”) to Venrock and AI Biotechnology to purchase an aggregate of 3.5 million and 3.0 million Ordinary Shares,
respectively, with an exercise price of $0.001 per share and no expiration date. The Warrants will be exercisable immediately and
have substantially identical terms to the form of warrant previously filed on April 22, 2024 as Exhibit 4.1 to the Company’s
Current Report on Form 8-K (File No. 001-40598). A holder of the Warrants (together with its affiliates and other attribution
parties) may not exercise any portion of a Warrant to the extent that immediately prior to or after giving effect to such exercise
the holder would beneficially own more than 9.99% of the Company’s outstanding common shares immediately after exercise, which
percentage may be increased or decreased to any other percentage specified not in excess of 9.99% at the holder's election upon 61
days’ notice to the Company subject to the terms of the Warrants. Immediately following the share surrender and issuance of
the Warrants, the total number of the Company’s outstanding Class A ordinary shares and pre-funded warrants are expected to be
61,874,998 and 30,384,348, respectively.

The descriptions of the Agreements and the Warrants
are not complete and are qualified in their entirety by reference to the Agreements and the form of Warrant, which are filed as Exhibits
10.1, 10.2 and 4.