On October 14, 2024 Kintara Therapeutics, Inc. ("Kintara") (Nasdaq: KTRA), a biopharmaceutical company focused on the development of new solid tumor cancer therapies, reported a record date of October 17, 2024 (the "Record Date") for the issuance of Contingent Value Rights ("CVRs") to stockholders of record of Kintara as of the Record Date (Press release, Kintara Therapeutics, OCT 14, 2024, View Source [SID1234647181]). As previously disclosed, in April 2024 Kintara entered into a definitive merger agreement (the "Merger Agreement") with TuHURA Biosciences, Inc. ("TuHURA"), a Phase 3 registration-stage immune-oncology company developing novel technologies to overcome resistance to cancer immunotherapy, and Kayak Mergeco, Inc., Kintara’s wholly-owned subsidiary, whereby Kayak Mergeco will merge with and into TuHURA, with TuHURA surviving the merger and becoming Kintara’s direct, wholly-owned subsidiary (the "Merger").

Schedule your 30 min Free 1stOncology Demo!
Discover why more than 1,500 members use 1stOncology™ to excel in:

Early/Late Stage Pipeline Development - Target Scouting - Clinical Biomarkers - Indication Selection & Expansion - BD&L Contacts - Conference Reports - Combinatorial Drug Settings - Companion Diagnostics - Drug Repositioning - First-in-class Analysis - Competitive Analysis - Deals & Licensing

                  Schedule Your 30 min Free Demo!

The proposed Merger is expected to close on October 18, 2024 (the "Closing Date"), subject to regulatory approval and the satisfaction of the remaining closing conditions under the Merger Agreement. The Record Date is subject to change based on the final Closing Date.

In connection with the Merger and pursuant to the Contingent Value Rights Agreement (the "CVR Agreement") to be entered into prior to the Closing Date, Kintara will issue a number of CVRs to Kintara stockholders as of the Record Date entitling the holders thereof to an aggregate of 53,897,125 shares of Kintara’s common stock, which number is subject to adjustment as a result of Kintara’s proposed reverse stock split described below, upon the achievement of certain milestones as set forth in the CVR Agreement. Kintara stockholders of record at the close of business on the Record Date will receive one CVR per share of Kintara common stock (or in the case of warrants to purchase shares of Kintara common stock, each share of Kintara common stock for which such warrant to purchase shares of Kintara stock is exercisable) each respectively owned. The CVRs will be issued immediately prior to the proposed reverse stock split (as described below) and closing of the proposed Merger.

As previously announced, Kintara’s stockholders approved a reverse stock split of Kintara’s common stock in a range of 1-for-20 to 1-for-40 at Kintara’s special meeting of stockholders held on October 4, 2024. Kintara expects to effect a reverse stock split at a ratio of 1-for-35 immediately prior to the consummation of the proposed Merger.

Equiniti Trust Company, LLC is acting as the rights agent for CVRs. Stockholders holding their shares in book-entry form or in brokerage accounts need not take any action in connection with the issuance of CVRs. Beneficial holders are encouraged to contact their bank, broker or custodian with any procedural questions.