ARCA biopharma completes merger with Oruka Therapeutics, special cash dividend and reverse stock split.

From GlobeNewswire.: 2024-08-29 16:50:00

ARCA biopharma, Inc. completes merger with Oruka Therapeutics, Inc. ARCA’s stockholders approved all proposals related to the merger at a special meeting on August 22, 2024. As a result of the merger, Oruka is now a wholly owned subsidiary of ARCA. The merger included a special cash dividend of $1.613 per share of common stock, and a reverse stock split at a ratio of 1-for-12 shares will take place on September 3, 2024. The combined company will operate under the name Oruka Therapeutics, Inc. and its shares will trade on Nasdaq under the ticker symbol “ORKA” starting September 3, 2024.



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