Alumis (ALMS, Financial) and Acelyrin (SLRN) have agreed to amend the terms of their previously announced merger deal, with adjustments favoring Acelyrin stockholders. The revised agreement offers Acelyrin shareholders 0.4814 shares of Alumis common stock for every share held, a change that increases their stake in the merged entity compared to the original agreement.
Under the updated ratio, Alumis shareholders will control approximately 52% of the combined company, while Acelyrin shareholders will possess around 48% on a fully diluted basis. The updated agreement anticipates a pro forma cash reserve of approximately $737 million by the end of 2024, which is expected to support ongoing clinical trial advancements and fund operational and capital needs through to 2027.
The revised merger terms have received unanimous backing from the non-conflicted directors on each company’s Board. Moreover, stockholders holding about 62% of Alumis' voting stock and roughly 24% of Acelyrin's shares have pledged their support through voting agreements. The companies are targeting a close of the transaction in the second quarter of 2024, pending approval from shareholders of both entities and fulfillment of customary closing conditions.
