Kyverna Therapeutics, Inc. (KYTX) has released an update.
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Kyverna Therapeutics, Inc. successfully launched its initial public offering (IPO), issuing 16.675 million shares at $22 each, raising $366.9 million before expenses. Concurrently, the company restructured its corporate governance, authorizing 490 million shares of common stock and creating 10 million shares of flexible preferred stock. It introduced measures to strengthen board control, such as requiring a two-thirds majority for director removal and bylaw amendments, eliminating cumulative voting, and barring action by written consent. The company also designated Delaware courts for internal legal disputes and federal courts for Securities Act claims.
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