---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-26-130486"
form_type: "8-K"
ticker: "KZR"
cik: "0001645666"
company_name: "Kezar Life Sciences, Inc."
filed_at: "2026-03-30T23:59:59+00:00"
generated_at: "2026-05-15T08:23:59.405669+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Kezar Life Sciences to be acquired by Aurinia Pharma for $6.955 per share cash plus CVR

## Summary
- Aurinia Pharma U.S. will commence a tender offer at $6.955/share cash plus one contingent value right (CVR) per share.
- Tang Capital Partners, holding ~9% of shares, agrees to tender in support of the deal.
- CVR holders may receive payments from excess net cash above $50M, Enodia APA proceeds, and milestones/royalties from zetomipzomib.
- Closing expected in Q2 2026; conditions include minimum tender >50% and net cash ≥$50M.
- Termination fee of $1.2 million payable by Kezar under specified circumstances, including a superior proposal.

## SEC filing metadata
- accession: 0001193125-26-130486
- form_type: 8-K
- ticker: KZR
- cik: 0001645666
- company_name: Kezar Life Sciences, Inc.
- filed_at: 2026-03-30T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 1.01, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1645666/000119312526130486/0001193125-26-130486-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1645666/000119312526130486/d106892d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-26-130486
- JSON: https://secwatch.observer/filing/0001193125-26-130486.json
- Plain text: https://secwatch.observer/filing/0001193125-26-130486.txt

## Key facts
- Material Agreements
  Kezar Life Sciences, Inc. entered into Agreement and Plan of Merger with Aurinia Pharma U.S., Inc. valued at $6.955 per Share (effective 2026-03-30).
  - Action: entry
  - Agreement: merger
  - Counterparty: Aurinia Pharma U.S., Inc.
  - Value: $6.955 per Share
  - Effective: 2026-03-30
  source text: On March 30, 2026, Kezar Life Sciences, Inc., a Delaware corporation (the “ Company ” or “ Kezar ”), entered into an Agreement and Plan of Merger (the “ Merger Agreement ”) by and among the Company, Aurinia Pharma U.S., Inc., a Delaware corporation (“ Parent ” or “Aurinia”), Aurinia Merger Sub, Inc., a Delaware corporation and a wholly owned subsidiary of Parent (“ Merger Sub ” and together with Parent, the “ Buyer Entities ”), and, solely for purposes of Section 10.13 of the Merger Agreement, Aurinia Pharmaceuticals Inc., a company incorporated under the laws of the Province of Alberta (“ Ultimate Parent ”), and the parent entity of Parent.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1645666/000119312526130486/0001193125-26-130486-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.