JATT shareholders approve extension but 87.8% of public shares redeemed, trust drops to ~$17.3M

Zura Bio Ltd

Shareholders approved extension of business combination deadline to April 17, 2023.
12,111,022 Class A shares redeemed at $10.257 per share (~$124.2M total), 87.76% of outstanding.
Trust account reduced to ~$17.3M plus $101,338 sponsor contribution for the extension.
Sponsor contributed $101,338 in exchange for an unsecured promissory note repayable upon closing.
Third Amendment to BCA executed January 13, 2023, extending Outside Date to April 17, 2023.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Zura Bio Ltd amended Third Amendment to the BCA with JATT Acquisition Corp, JATT Merger Sub, JATT Merger Sub 2, Zura Bio Holdings Ltd, Zura Bio Limited (effective 2023-01-16).

Action: amendment
Agreement: merger
Counterparty: JATT Acquisition Corp, JATT Merger Sub, JATT Merger Sub 2, Zura Bio Holdings Ltd, Zura Bio Limited
Effective: 2023-01-16

Exact text from the filing

on January 16, 2023, JATT, Merger Sub, Merger Sub 2, Zura and Holdco entered into the third amendment to the Original Business Combination Agreement (the “ Third Amendment to the BCA ”) to extend the Outside Date to April 17, 2023.

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Zura Bio Ltd filing history →

Source: SEC EDGAR

accession 0001104659-23-005068

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