AUPH · Aurinia Pharmaceuticals Inc.

Aurinia Pharmaceuticals Inc. completed its acquisition of Kezar Life Sciences, Inc. through a tender offer and subsequent merger. The transaction, valued at $6.955 per share plus one contingent value right (CVR) per share, was structured under Delaware law without a stockholder vote. The tender offer closed on May 8, 2026, with 80.24% of Kezar's outstanding shares tendered, satisfying all conditions. The merger was finalized on May 11, 2026, making Kezar a wholly owned subsidiary of Aurinia. The CVR Agreement, dated May 11, 2026, entitles former Kezar shareholders to potential future payments based on specified milestones. This acquisition expands Aurinia's pipeline and strategic footprint in the biopharmaceutical sector.