Brief: ARCA Biopharma And Oruka Therapeutics Announce Merger Agreement

Oruka Therapeutics

03/04/2024 13:01

April 3 (Reuters) - ARCA Biopharma Inc  ABIO.O :
    * ARCA BIOPHARMA AND ORUKA THERAPEUTICS ANNOUNCE MERGER
AGREEMENT
    * ARCA BIOPHARMA AND ORUKA THERAPEUTICS ANNOUNCE MERGER
AGREEMENT
    * ARCA BIOPHARMA INC - UNDER TERMS OF MERGER AGREEMENT,
PRE-MERGER
ARCA STOCKHOLDERS ARE EXPECTED TO OWN APPROXIMATELY 2.38% OF
COMBINED COMPANY
    * ARCA BIOPHARMA INC - COMBINED COMPANY PLANS TO OPERATE
UNDER
NAME ORUKA THERAPEUTICS, INC. AND TRADE ON NASDAQ UNDER TICKER
SYMBOL "ORKA"
    * ARCA BIOPHARMA INC: PRE-CLOSING PRIVATE FINANCING OF
APPROXIMATELY $275 MILLION ANTICIPATED TO FUND OPERATIONS
THROUGH 2027
    * ARCA BIOPHARMA INC - PRE-MERGER ORUKA STOCKHOLDERS ARE
EXPECTED
TO OWN APPROXIMATELY 97.62% OF COMBINED COMPANY
    * ARCA BIOPHARMA INC - ARCA IS EXPECTED TO CONTRIBUTE $5
MILLION
TO COMBINED ENTITY
    * ARCA BIOPHARMA INC: PRE-CLOSING PRIVATE FINANCING OF
APPROXIMATELY $275 MILLION ANTICIPATED TO FUND OPERATIONS
THROUGH 2027
    * ARCA BIOPHARMA INC - EXPECTS TO PAY A DIVIDEND TO
PRE-MERGER
ARCA STOCKHOLDERS OF APPROXIMATELY $20 MILLION IMMEDIATELY PRIOR
TO CLOSE OF MERGER
    * ARCA BIOPHARMA INC - COMBINED COMPANY WILL BE NAMED ORUKA
THERAPEUTICS, INC. AND LED BY LAWRENCE KLEIN, ORUKA'S CURRENT
CHIEF EXECUTIVE OFFICER
    * ARCA BIOPHARMA INC: EXPECTS TO DECLARE A CASH DIVIDEND TO
PRE-MERGER ARCA STOCKHOLDERS EQUAL TO AMOUNT BY WHICH ARCA'S NET
CASH EXCEEDS $5 MILLION.

Source text for Eikon:  ID:nGNX8TpwW5 
Further company coverage:  ABIO.O 

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