Pre-funded warrants are financial instruments that give investors the right to purchase a company's stock at a set price, but with most or all of the purchase price paid upfront. They function like a coupon or gift card for stock, allowing investors to buy shares later at a fixed price, which can be beneficial if they want to avoid future price increases. This makes them important for investors seeking flexibility and certainty in their investment plans.
underwritten public offeringfinancial
An underwritten public offering is when a company sells new shares of its stock to the public with the help of a financial firm, called an underwriter. The underwriter agrees to buy all the shares upfront, reducing the company's risk, and then sells them to investors. This process helps companies raise money quickly and confidently from a wide range of buyers.
shelf registration statementregulatory
A shelf registration statement is a document a company files with regulators that allows it to sell shares or bonds quickly when it’s a good time to raise money. It’s like having a pre-approved plan ready so the company can act fast without going through lengthy paperwork each time they want to sell, making fundraising more flexible.
form s‑3regulatory
Form S-3 is a streamlined U.S. Securities and Exchange Commission registration form that lets already-established public companies quickly sell new stocks, bonds or other securities without repeating lengthy disclosures. Think of it like a pre-approved credit line: it speeds up fundraising and reduces paperwork, which matters to investors because it enables faster access to capital but can also lead to quicker shares being issued, affecting ownership and share value.
prospectus supplementregulatory
A prospectus supplement is an additional document provided alongside a company's main offering details, offering updated or extra information about a specific financial product being sold. It helps investors understand the latest terms, risks, and details of the investment, similar to how an update or revision clarifies or expands on original instructions, ensuring they have current and complete information before making a decision.
HENDERSON, Nev.--(BUSINESS WIRE)--
Zura Bio Limited (Nasdaq: ZURA) (“Zura”), a clinical-stage biotechnology company developing novel and differentiated medicines to meaningfully improve the lives of patients with serious and debilitating autoimmune and inflammatory diseases, today announced that it closed its previously announced underwritten public offering of Class A ordinary shares and pre‑funded warrants on February 26, 2026.
The offering consisted of 21,200,000 Class A ordinary shares priced at $6.25 per share, along with pre‑funded warrants for 1,800,000 Class A ordinary shares priced at $6.249 per warrant, which included 3,000,000 additional Class A ordinary shares sold upon exercise in full by the underwriters of their option to purchase additional shares of stock in the offering. All shares and pre-funded warrants were sold by Zura.
Gross proceeds from the offering were approximately $144 million, before deducting underwriting discounts and commissions and other offering expenses payable by Zura.
Leerink Partners, Piper Sandler and Cantor acted as joint bookrunning managers for the offering. Wedbush PacGrow acted as lead manager.
The Class A ordinary shares and pre‑funded warrants were offered by Zura pursuant to a shelf registration statement on Form S‑3, as amended (Registration No. 333‑281905), that was filed with the U.S. Securities and Exchange Commission (the “SEC”) and declared effective on September 17, 2024. The offering was made by means of a prospectus supplement and accompanying prospectus filed with the SEC. Copies of the final prospectus supplement and accompanying prospectus may be obtained by visiting the SEC’s website at www.sec.gov.
ABOUT ZURA
Zura is a clinical-stage, multi-asset immunology company developing novel dual-pathway antibodies for autoimmune and inflammatory diseases with unmet need. Zura’s pipeline includes product candidates designed to target key mechanisms of immune system imbalance, with the goal of improving efficacy, safety, and dosing convenience for patients.
Zura’s lead product candidate, tibulizumab (ZB-106), is being evaluated in two Phase 2 clinical studies in adults: TibuSHIELD, a study in hidradenitis suppurativa (HS), and TibuSURE, a study in systemic sclerosis (SSc). Additional product candidates crebankitug (ZB-168) and torudokimab (ZB-880) have completed Phase 1/1b studies and are being evaluated for their potential across a range of autoimmune and inflammatory conditions.
