Inhibrx (INBX) has released an update to notify the public and investors about an entry into a material definitive agreement.
On January 22, 2024, Inhibrx, Inc. entered into a Merger Agreement with Aventis Inc. and Art Acquisition Sub, Inc., which outlined that Inhibrx will merge and survive as a subsidiary of Aventis’s parent company, Sanofi. Concurrently, a Separation and Distribution Agreement was made with Ibex SpinCo, Inc. to handle the Pre-Closing Reorganization and distribute 92% of SpinCo’s shares to Inhibrx shareholders, while Inhibrx retains an 8% stake. Amendments to the Private Placement Warrants and Oxford Warrants were executed to clarify their treatment in the Merger and Spin-Off. The Merger and Spin-Off are anticipated to be taxable events for Inhibrx’s stockholders.
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