JATT Acquisition amends forward purchase agreement; Athanor commits $45M backstop, gets 2.5M additional shares

Zura Bio Ltd

Amendment No. 2 to Forward Purchase Agreement signed March 8, 2023 with Athanor funds.
Athanor commits $45M total: $30M for 3M forward shares plus $15M backstop for excess redemptions.
Athanor can purchase up to 1.5M backstop shares from company at $10/share if redemptions exceed thresholds.
Athanor receives additional 2.5M Class A shares upon closing of Zura Bio combination.
Post-combination, Hana holds 5.4M shares; Willow and Stone Peach hold 2.7M each; no lock-up on their shares.

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 Amendment No. 2 to Forward Purchase Agreement with Athanor Master Fund, LP and Athanor International Master Fund, LP valued at up to $15,000,000 (effective 2023-03-08).

Action: amendment
Agreement: equity purchase
Counterparty: Athanor Master Fund, LP and Athanor International Master Fund, LP
Value: up to $15,000,000
Effective: 2023-03-08

Exact text from the filing

On March 8, 2023, JATT Acquisition Corp (the “Company” or “JATT”), Athanor Master Fund, LP, and Athanor International Master Fund, LP (collectively, the “Purchasers”) entered into Amendment No. 2 to Forward Purchase Agreement and Related Agreements, pursuant to which, among other things, the Purchasers agreed to purchase up to 1,500,000 shares of JATT’s Class A ordinary shares (“Class A Shares”) from the Company for an aggregate purchase price of up to $15,000,000 in the event that redemptions exceed certain thresholds.

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Source: SEC EDGAR

accession 0001104659-23-030711

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