Kezar Life Sciences Acquisition by Aurinia Completed; Shares Delisted from Nasdaq

summarizeSummary

Kezar Life Sciences announced the completion of its acquisition by Aurinia Pharmaceuticals, with 80.2% of shares tendered in the offer, leading to the delisting of Kezar's stock from Nasdaq.

check_boxKey Events

• Acquisition Completed

  Aurinia Pharma U.S., Inc. completed the acquisition of Kezar Life Sciences on May 11, 2026, via a short-form merger, making Kezar a wholly-owned subsidiary.

• Tender Offer Finalized

  The tender offer expired on May 8, 2026, with 5,927,580 shares (approximately 80.2% of outstanding shares) validly tendered and accepted, satisfying the minimum tender condition.

• Shares Delisted

  Kezar's common stock ceased trading and was delisted from The Nasdaq Capital Market prior to the opening of trading on May 11, 2026.

• Consideration Received

  Each outstanding share was converted into the right to receive $6.955 in cash plus one contingent value right (CVR).

auto_awesomeAnalysis

This filing confirms the definitive completion of Kezar Life Sciences' acquisition by Aurinia Pharmaceuticals. With 80.2% of shares tendered, the merger has been finalized, marking the end of Kezar as an independent public entity. The immediate delisting of shares means the stock is no longer publicly traded, fundamentally altering the investment thesis for all shareholders.