Jaguar8 commented on a stock · Aug 30, 2024 04:51

NEWS

ARCA biopharma Announces Completion of Merger with Oruka Therapeutics and Implementation of Reverse Stock Split

ARCA biopharma (NASDAQ: ABIO) has announced the completion of its merger with Oruka Therapeutics. The combined entity will now operate as Oruka Therapeutics, Inc. and trade on Nasdaq under the symbol ORKA from September 3, 2024.
Following shareholder approval on August 22, 2024, each Oruka share was converted into 6.8569 ARCA shares. Existing ARCA shareholders received a special dividend of $1.613 per share on August 26, 2024.
The company will implement a 1-for-12 reverse stock split on September 3, 2024. Post-split, ARCA shares will be reclassified into Oruka Therapeutics shares, trading under the new CUSIP number 687604108. Fractional shares will be compensated in cash. Stockholders' positions via brokers will be automatically adjusted.
The merger and reverse split became effective on August 29, 2024, at 4:03 pm ET and September 3, 2024, at 12:01 a.m. ET, respectively.

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Jaguar8

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