LAVA Therapeutics (LVTX) investor relations material

Executive summary

• Amendment to the share purchase agreement sets the cash offer per share at $1.04, down from the previously agreed range of $1.16–$1.24, plus a non-transferable contingent value right (CVR) per share for additional potential payments.

• The CVR entitles holders to a share of net proceeds from partnered assets, out-licensing or sale of unpartnered programs, and a new right to up to $0.23 per CVR based on final determination of certain liabilities.

• The minimum net-cash closing condition is reduced to $24.5 million from $31.5 million, reflecting updated estimates of liabilities and cash balance.

• The tender offer expiration is extended to November 12, 2025, and the Extraordinary General Meeting (EGM) is rescheduled for November 7, 2025.

• The acquisition is expected to close in Q4 2025, subject to customary closing conditions, including shareholder approval and minimum tender thresholds.

Voting matters and shareholder proposals

• Shareholders will vote at the reconvened EGM on resolutions related to the amended transaction terms and the acquisition.

• Shareholders who have already tendered do not need to take further action due to the offer extension.

• Support agreements have been signed by shareholders to tender shares and support the offer.

Board of directors and corporate governance

• Information about directors and executive officers, including their interests in the transaction, is available in prior proxy statements and will be updated in the revised proxy statement.

• Both company and buyer directors and officers may be deemed participants in the proxy solicitation.