RayzeBio, Inc.

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Ademi LLP is investigating RayzeBio (NASDAQ: RYZB) for possible breaches of fiduciary duty and other violations of law in its transaction with Bristol Myers.

In the transaction, RayzeBio stockholders will receive only $62.50 per share in an all-cash transaction for a total equity value of approximately $4.1 billion, or $3.6 billion net of estimated cash acquired. The transaction agreement unreasonably limits competing transactions for RayzeBio by imposing a significant penalty if RayzeBio accepts a competing bid. RayzeBio insiders will receive substantial benefits as part of change of control arrangements.

We are investigating the conduct of RayzeBio’s board of directors, and whether they are fulfilling their fiduciary duties to all shareholders.