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Inhibrx Biosciences, Inc. (INXBV) has shared an announcement.
On May 29, 2024, Inhibrx, Inc. successfully completed the pro rata distribution of 92% of its subsidiary’s shares to its common stockholders and issued new warrants with an exercise price of $0.0001, which can be exercised through payment or cashless transactions. These warrants come with certain conditions, such as beneficial ownership limitations, and do not confer voting rights until exercised. Additionally, the company entered into a registration rights agreement to register the resale of these shares with the SEC and an indemnification agreement to protect its directors and executives. Moreover, a transition services agreement was established with RemainCo to ensure a smooth operational transition post-distribution.
For a thorough assessment of INXBV stock, go to TipRanks’ Stock Analysis page.