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Zura Bio Limited, a clinical-stage biotechnology company focused on immunology, has completed its business combination with JATT Acquisition Corp. The merger, approved by JATT's shareholders on March 16, 2023, results in approximately $65 million in gross cash proceeds to support R&D initiatives and potential acquisitions. The combined entity will trade under the ticker symbol ZURA on Nasdaq starting March 21, 2023. The funds will be used for the clinical development of Zura's pipeline candidates, ZB-168 and torudokimab, with leadership from former Arena Pharmaceuticals executives. This milestone aims to enhance the company's immunology portfolio.
JATT Acquisition Corp has successfully closed its IPO of 13,800,000 units at $10.00 each, totaling gross proceeds of $138 million. The units began trading on the NYSE under the symbol 'JATT U' on July 14, 2021, and consist of one Class A ordinary share and one-half of a redeemable warrant. The company, a SPAC, led by CEO Someit Sidhu, aims to pursue business combinations primarily in the life sciences sector. Following the offering, $139.38 million was placed in the trust account for future business endeavors.
JATT Acquisition Corp has priced its initial public offering (IPO) at $10.00 per unit, totaling 12 million units. Each unit includes one Class A ordinary share and half a redeemable warrant, with whole warrants exercisable at $11.50 per share. Trading is expected to commence on July 14, 2021, under the ticker symbol 'JATT U' on the NYSE, with the IPO closing on July 16, 2021. The company, led by CEO Someit Sidhu, is a special purpose acquisition company focusing primarily on the life sciences sector, and has granted underwriters a 45-day option to purchase an additional 1.8 million units.
