secwatch.observer — SEC 8-K summary
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Issuer:     Kezar Life Sciences, Inc. (KZR)
CIK:        0001645666
Form:       8-K
Filed at:   2026-03-30T23:59:59+00:00
Accession:  0001193125-26-130486
Event type: m_and_a
Sentiment:  positive
Materiality: 0.85
Item codes: 1.01, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1645666/000119312526130486/0001193125-26-130486-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1645666/000119312526130486/d106892d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-26-130486

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