ARCA biopharma Declares Special Dividend Amid Merger Plans
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ARCA biopharma Declares Special Dividend in Connection with Proposed Merger
Special dividend estimated to be $1.59 per share
Payment of special dividend conditioned upon ARCA stockholder approval of Proposed Merger
ARCA biopharma, Inc. (NASDAQ: ABIO) has announced that its Board of Directors has declared a special cash dividend in connection with the previously announced merger with Oruka Therapeutics. This special dividend, estimated at $1.59 per share of ARCA’s common stock, will be payable in cash to stockholders of record as soon as conditions are met.
The exact calculation of the special dividend will depend upon a good faith approximation of ARCA’s net cash status prior to the merger closing, which is expected to be finalized once stockholder approval is obtained. The payment date for the dividend is anticipated shortly after the approval.
The declaration of this special dividend is contingent on ARCA stockholders voting in favor of the merger at the upcoming special meeting. If approved, the merger is expected to close shortly thereafter.
If you need assistance in voting your shares or have questions regarding the stockholder meeting, please contact ARCA’s proxy solicitor.
About ARCA biopharma
ARCA biopharma is committed to developing targeted therapies for cardiovascular diseases using a precision medicine approach. They aim to enhance patient outcomes through innovative drug development strategies.
About Oruka Therapeutics
Oruka Therapeutics is focused on creating novel biologics that redefine treatment standards for chronic skin diseases. Their mission is to deliver effective solutions for patients suffering from conditions like plaque psoriasis.
Investor Communications
ARCA biopharma encourages stakeholders to stay informed about the merger and other company developments through its official communications. Investors can reach out for any inquiries related to shares and the ongoing processes.
Frequently Asked Questions
What is the special dividend amount declared by ARCA biopharma?
The declared special dividend is estimated to be $1.59 per share of ARCA’s common stock.
What conditions must be met for the special dividend to be paid?
The payment of the special dividend is contingent upon stockholder approval of the merger with Oruka Therapeutics.
When is the stockholder meeting scheduled?
The special stockholder meeting is scheduled for a specified time, where stockholders will vote on the merger.
How can shareholders vote their shares?
Shareholders seeking assistance for voting their shares can contact ARCA’s proxy solicitor for support.
What is ARCA biopharma’s primary focus?
ARCA biopharma is dedicated to developing genetically targeted therapies for cardiovascular diseases through innovative approaches in drug development.
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