Avrobio Inc (AVRO) has released an update to notify the public and investors about an entry into a material definitive agreement.
On January 30, 2024, AVROBIO, Inc., Alpine Merger Subsidiary, Inc., and Tectonic Therapeutic, Inc. entered into a Merger Agreement for a tax-free reorganization under which Merger Sub will merge with Tectonic, making Tectonic a wholly owned subsidiary of AVRO. The merger terms involve an exchange of Tectonic shares for AVRO shares, adjustments to stock options and restricted stock units, and a contingent value rights agreement for AVRO stockholders. The merger’s completion is subject to various conditions, including stockholder approvals, Nasdaq listings, and a minimum financing threshold for Tectonic. Additionally, certain stockholders have entered into support and lock-up agreements to facilitate the merger.
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For a comprehensive understanding of the announcement, you can read the full document here.