Ademi LLP is investigating Kintara (Nasdaq: KTRA) for possible breaches of fiduciary duty and other violations of law in its transaction with TuHURA.
In the transaction, Kintara stockholders will own approximately 2.85% of the combined company (or 5.45% of the combined company after giving effect to the issuance of the CVR Shares) and TuHURA equityholders would own approximately 97.15% of the combined company on an “as converted” to Kintara Common Stock basis (or 94.55% of the combined company after giving effect to the issuance of the CVR Shares). Officers and directors of Kintara have entered into support agreements with Kintara and TuHURA to vote all of their shares of capital stock of Kintara in favor of the transaction and against any alternative acquisition proposals. Kintara insiders will receive substantial benefits as part of change of control arrangements.
We are investigating the conduct of Kintara’s board of directors, and whether they are fulfilling their fiduciary duties to all shareholders.