Wave Life Sciences Ltd. (NASDAQ: WVE) announced its board of directors unanimously approved a plan to redomicile the company's parent entity from Singapore to the United States.

The biotechnology company said the move will streamline its organizational structure and reduce compliance costs. Wave already maintains its corporate headquarters, manufacturing facilities, research and development operations, and majority of employees in the United States.

Under the proposed transaction, shareholders of the Singapore-based Wave Life Sciences Ltd. will exchange their ordinary shares on a one-for-one basis for common stock in a newly-formed Delaware corporation, Wave Life Sciences, Inc. The new Delaware entity will become the ultimate parent company of the Wave Life Sciences group.

"We believe the United States is the best place for Wave to enhance shareholder value," said Kyle Moran, Chief Financial Officer. The company cited alignment of its parent company's domicile with its operations and personnel as reasons for the move.

Following the redomiciliation, shares will continue trading on the Nasdaq Global Market under the existing symbol "WVE." The company will remain subject to SEC reporting requirements and Nasdaq rules. Financial results will continue to be reported in U.S. dollars under U.S. generally accepted accounting principles.

Wave filed preliminary proxy materials with the SEC for a shareholder meeting to approve the transaction. The redomiciliation requires approval from Wave shareholders and the Singapore High Court. The company expects the transaction to take effect in mid-2026, subject to receiving necessary approvals.

The redomiciliation is expected to be tax-free for U.S. shareholders. Wave develops RNA medicines and has programs focused on obesity, alpha-1 antitrypsin deficiency, and liver disease, among other therapeutic areas.