Boundless Bio and Serapha Bio to merge

Boundless Bio (Nasdaq: BOLD) and privately-held Serapha Bio today announced that they have entered into a definitive merger agreement pursuant to which Serapha will combine with Boundless Bio in an all-stock merger. The latter’s shares leapt 75% to $2.5 on the news.

Prior to the closing, Boundless Bio expects to declare a cash dividend to pre-merger Boundless stockholders. Upon completion of the transaction, the combined company plans to operate under the name Serapha Bio, and is expected to trade on Nasdaq under the ticker symbol “AATD”.