Core Points - ARCA biopharma announced a special cash dividend of $1.613 per share, payable on August 28, 2024, to stockholders of record as of August 26, 2024, in connection with its merger with Oruka Therapeutics [1] - The special dividend exceeds 25% of ARCA's stock price on the declaration date, resulting in an ex-dividend date of August 29, 2024, as per Nasdaq rules [2] - The merger with Oruka Therapeutics is expected to close on August 29, 2024, pending the satisfaction or waiver of all conditions under the merger agreement [3] Company Information - ARCA biopharma focuses on developing genetically and other targeted therapies for cardiovascular diseases through a precision medicine approach [4] - Oruka Therapeutics is developing novel biologics aimed at treating chronic skin diseases, with a mission to achieve high rates of complete disease clearance for conditions like plaque psoriasis [5]
ARCA biopharma Provides Update Regarding Special Dividend Amount in Connection with the Proposed Merger with Oruka Therapeutics