Company: ZURA
Filing Date: 2025-04-23
Form Type: DEF 14A
Source: 0001104659-25-038042
Chunk: 66

Company: Zura Bio Ltd
Filing Date: 2025-04-23
Form: DEF 14A
Chunk 66
---
 low-double digits (less than 20%), with increasing rates based on Net Sales in the respective calendar year, based on a percentage of sales within varying thresholds for a certain period of the year. April 2023 Private Placement Financing On April 26, 2023, we entered into a second PIPE subscription agreement (the “April 2023 Private Placement”) with certain accredited investors (the “Subscribers”), whereby we issued 15,041,530 Class A ordinary shares, par value $0.0001 per share and pre-funded warrants (the “2023 Pre-Funded Warrants”) to purchase up to 3,782,000 Class A ordinary shares. Each Class A ordinary share was sold at a price of $4.25 per Class A ordinary share and each 2023 Pre-Funded Warrant was sold at a price of $4.249 per 2023 Pre-Funded Warrant for an aggregate purchase price of $80.0 million. We received net proceeds of approximately $75.8 million from the April 2023 Private Placement. Concurrently, Lilly received an aggregate 38 TABLE OF CONTENTS of approximately $4.25 million in Class A ordinary shares in lieu of a portion of the upfront cash paid by Zura as consideration for the licensing transaction for ZB-106 (the “ZB-106 Private Placement”). The ZB-106 Private Placement was led by Deep Track Capital, Great Point Partners and Suvretta Capital, alongside several additional new and existing investors. Concurrently with the April 2023 Private Placement, we agreed to, within six months of April 24, 2023, exercise our Call Option on 50% of the Z33 Series Seed Preferred Shares previously issued to Stone Peach. We agreed to settle our Call Option by issuing 2,000,000 Class A ordinary shares. The amended settlement terms represented an extinguishment and reissuance of the Z33 Series Seed Preferred Shares. The $10.9 million difference between the estimated fair value of the new instrument issued and the carrying value of the Z33 Series Seed Preferred Shares was recorded as a deemed dividend to the redeemable noncontrolling interest. We and Stone Peach subsequently renegotiated the settlement terms as discussed in the “— 2022 Lilly License ” section above. April 2024 Private Placement Financing On April 18, 2024, we entered into subscription agreements with certain institutional and other accredited investors, whereby we issued 18,732,301 Class A ordinary shares, par