Zymeworks closes $17/share Theravance acquisition; issues $350M notes

Zymeworks Inc.

Zymeworks completes Theravance merger; each share converted to $17.00 cash plus one CVR.
CVR pays 80% of ampreloxetine license proceeds, $50M U.S./EU first-commercial-sale milestone, 10% net sales.
Issued $350M senior secured notes at 8.25% fixed rate, maturing Dec 31, 2036, to OMERS-affiliated purchaser.
Notes guaranteed by four Theravance IP subsidiaries; proceeds funded cash consideration and CVR payments.
Investor call scheduled Sept 28, 2026, 8:30 a.m. ET to discuss closing details.

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