Aurinia Pharmaceuticals Completes $41.2M Tender Offer Acquiring 80.24% of Kezar Shares
Aurinia Pharmaceuticals acquired 5,927,580 Kezar shares, representing 80.24% of outstanding stock, through a $6.955 cash tender plus one contingent value right per share. The transaction totaled $41.2 million in value and fulfilled the majority-of-outstanding-shares condition required under the offer.
1. Transaction Details
Aurinia acquired 5,927,580 Kezar shares, representing 80.24% of outstanding stock, for an aggregate value of approximately $41.2 million.
2. Offer Structure and Participation
The tender provided $6.955 in cash per share and one non-transferable contingent value right per share, surpassing the majority threshold required to close the offer.
3. Strategic Outlook
The acquisition expands Aurinia’s autoimmune therapy portfolio with Kezar’s assets and underscores the company's commitment to growing its pipeline through targeted M&A.