Mergers & Acquisitions ·
Rallybio stockholders approve $13.90 special cash distribution and merger with Avenzo Therapeutics
RLYBRallybio Corp
Stockholders approved a $83.6 million special cash distribution of $13.90 per share, payable on November 13 to holders of record as of November 5. The vote also authorized the merger with Avenzo Therapeutics, contingent on closing by November 6, and approved a reverse stock split within a 1-for-2 to 1-for-9 range. Additional approvals included increasing authorized shares from 200 million to 500 million, electing directors, ratifying Deloitte & Touche LLP as auditor, and adopting successor equity incentive and employee stock purchase plans contingent on the merger's completion. Rallybio Corp is a clinical-stage biotechnology company focused on developing treatments for rare diseases.