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Inhibrx, Inc. announced an updated when-issued trading date for the anticipated spin-off of its subsidiary Inhibrx Biosciences, Inc. The spin-off will occur after the approval of the Company's acquisition by Sanofi at a special meeting on May 24, 2024. The trading of SpinCo common stock is expected to begin on a when-issued basis on May 28, 2024, under the symbol 'INXB.' The record date for the spin-off is May 17, 2024, with the distribution scheduled for May 29, 2024. The completion of the spin-off and merger is subject to closing conditions noted in the Company's Definitive Proxy Statement.
Inhibrx, Inc. has announced a record date set for May 17, 2024, for the distribution of 92% of shares of its subsidiary, Inhibrx Biosciences, Inc., to its common stockholders. The distribution is expected to occur on May 29, 2024, followed by the closing of the acquisition by Sanofi on May 30, 2024. Shareholders will receive one share of SpinCo common stock for every four shares of Inhibrx common stock held. Trading under the symbol 'INBX' will entitle shareholders to the distribution, with SpinCo common stock trading under 'INXB' until the completion of the distribution.