Rallybio Corp (RLYB) Form 424B3 — Oct 15, 2026
Rallybio has filed a proxy statement/prospectus for its proposed merger with Avenzo Therapeutics, under which Rallybio's equityholders will retain only about 2.8% of the combined company, Avenzo holders about 56.6%, and $215.0 million Concurrent Financing investors about 40.6%. Rallybio will be renamed Avenzo Therapeutics and expects to trade on Nasdaq as AVZO once the merger closes, anticipated in Q4 2026. RLYB stockholders will receive cash distributions of substantially all Rallybio Net Cash (approximately $82.2 million as of August 15, 2026) plus CVRs tied to proceeds from Legacy Asset dispositions and Recursion payments through 2031.
Key figures
- Exchange Ratio
- 0.502
- Avenzo Valuation
- $300.0 million
- Rallybio Net Cash
- $82.2 million (as of August 15, 2026)
- Termination Fees
- $600,000 payable by Rallybio; $20.0 million (or $8.0 million) payable by Avenzo
- Shares To Be Issued
- approximately 193,644,387 shares (pre-reverse-split)
- Rallybio Valuation
- $15.0 million
- Shares Outstanding
- 5312584
- Rallybio Share Price
- $16.91 (October 14, 2026 close)
- Concurrent Financing
- $215.0 million
- Post Merger Ownership
- Avenzo holders 56.6%, Rallybio holders 2.8%, Concurrent Financing investors 40.6%
- Reverse Split Ratio Range
- 1-for-2 to 1-for-9 (assumed 1-for-5.5)
- Authorized Share Increase
- 200,000,000 to 500,000,000
- Combined Company Implied Value
- $530 million
- Cvr Term End
- December 31, 2031
- Record Date Shares
- 5312584
- Annual Meeting Date
- November 4, 2026
- Ticker After Merger
- AVZO
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