ARCA biopharma Announces 1-for-12 Reverse Stock Split in Connection with the Proposed Merger with Oruka Therapeutics
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Aug 23 2024
0mins
Source: Newsfilter
Reverse Stock Split Announcement: ARCA biopharma has approved a reverse stock split of its common stock at a ratio of 1-for-12, effective September 3, 2024, coinciding with its merger with Oruka Therapeutics, which will also change the company's name and trading symbol.
Stockholder Approvals and Future Plans: The special meeting held on August 22, 2024, resulted in stockholder approval for the reverse stock split and an increase in authorized shares from 100 million to 545 million, as part of the merger preparations.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
