07:45 AM EDT, 07/12/2024 (MT Newswires) -- Zura Bio ( ZURA ) said Friday it has commenced an exchange offer regarding outstanding public warrants that the company issued with its initial public offering to buy class A ordinary shares, and private placement warrants in connection with the IPO to purchase its class A ordinary stock.

Under the terms, Zura is offering IPO warrant holders an option to get 0.30 class A ordinary shares in exchange for each outstanding IPO warrant. It is offering up to a total of roughly 3.8 million of its class A ordinary shares.

As of Wednesday, the company had roughly 63.7 million outstanding class A ordinary shares and a total of about 12.8 million outstanding IPO warrants, Zura said.