Zura Bio Limited announced that it has entered into a subscription agreement to issue an aggregate of approximately 20,100,000 Class A ordinary shares at a purchase price of $3.108 per share for the gross proceeds of $62,470,800 and in lieu of Class A ordinary shares to certain investors, pre-funded warrants to purchase up to an aggregate of 16,100,000 Class A ordinary shares at a purchase price of $3.107 per pre-funded warrant for the gross proceeds of $50,022,700 for the aggregate gross proceeds of $112,493,500 on April 18, 2024. The transaction will include participation from new and existing investors such as Deep Track Capital, LP, Great Point Partners, LLC, Suvretta Capital Management, LLC, Allostery Master Fund LP managed by Allostery Investments LP, lead investor,Access Biotechnology, RA Capital Management, L.P., Armistice Capital LLC and other investors. Each pre-funded warrant will have an exercise price of $0.001 per ordinary share, and will be immediately exercisable and remain exercisable until exercised in full.

The private placement is expected to close on April 22, 2024, subject to satisfaction of customary closing conditions. The securities are being sold in a private placement and have not been registered under the Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.