India, June 23 -- Boundless Bio, Inc. (BOLD) shares jumped 77.15 percent, gaining $1.08 to $2.4801 on Tuesday, after the company announced a definitive agreement to merge with privately held biotechnology firm Serapha Bio, Inc. in an all-stock transaction. Following the merger, the combined company will operate under the name Serapha Bio, Inc. and is expected to trade on Nasdaq under the ticker symbol "AATD."
The stock is currently trading at $2.4801, compared with its previous close of $1.40 on the Nasdaq. During the session, shares opened at $2.38 and traded between $2.25 and $2.58. Trading volume surged to 45.04 million shares, far above the average daily volume of 222,853 shares.
The transaction is backed by approximately $230 million...