JATT收購，Zura Bio合併；Zura將成為上市實體

07:41 AM EDT, 06/17/2022 (MT Newswires) -- Jatt Acquisition Corp. (JATT), a special purpose acquisition company, and Zura Bio, a clinical-stage biotechnology company, said Friday they have entered into a defintive business combination agreement.

The combined company will be called Zura Bio Limited, and its ordinary shares and warrants are expected to be listed on the New York Stock Exchange under the ticker symbol "ZURA."

JATT Chief Executive and Founder Someit Sidhu and Javier Cote-Sierra, a JATT board member, are expected to join the newly created entity as CEO and chief scientific officer, respectively, JATT said.

The proposed merger implies a pro forma enterprise value of the combined company of about $215 million, JATT said.

The transaction, already approved by both companies' boards of directors, is expected to receive cash proceeds of up to $189 million, consisting of $139 million held in JATT's trust account and a concurrent, fully commited $50 million from a forward purchase agreement and private investment in public equity of ordinary shares issued at $10 per share.

If public shareholder redemptions are more than 90%, another $15 million will be payable under the forward purchase agreement, so the minimum cash proceeds can be at least $65 million, JATT said.

The deal is expected to close in Q4.

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