AVTE Overview

Merger and Reverse Stock Split: Aerovate Therapeutics' stockholders approved a merger with Jade Biosciences and a 1-for-35 reverse stock split, which will reduce Aerovate's outstanding shares from approximately 30 million to about 0.8 million, effective April 29, 2025.

Cash Dividend Announcement: A special cash dividend of $69.6 million, estimated at $2.40 per share, will be paid to Aerovate's stockholders on record as of April 25, 2025, unaffected by the reverse stock split.

Market Performance: U.S. stock futures are showing gains following President Trump's tariff policy changes, with the S&P500 up 0.4%, Nasdaq 100 up 0.2%, and Dow Industrials up 0.6%. WTI crude oil prices have increased nearly a dollar above $63, while gold has risen by $15 per ounce.

Economic Outlook: Economists express caution regarding future volatility, with Goldman Sachs predicting a 45% chance of recession and Evercore estimating odds at 35%-40%. Investors are preparing for upcoming CPI data release.

Special Cash Dividend Announcement: Aerovate Therapeutics has declared a special cash dividend of $69.6 million, approximately $2.40 per share, to be paid to stockholders of record as of April 25, 2025, contingent upon the closing of its merger with Jade Biosciences.

Merger Conditions and Voting: The payment of the cash dividend is dependent on the successful completion of the merger, which is expected to close around April 28, 2025, following approval from Aerovate's stockholders at a special meeting scheduled for April 16, 2025.

Cash Dividend Announcement: Aerovate Therapeutics expects to declare a cash dividend of approximately $67.6 to $69.6 million for pre-Merger stockholders, pending board approval and the completion of its merger with Jade Biosciences.

Merger Details: The special meeting for Aerovate's stockholders to vote on the merger is scheduled for April 16, 2025, with the closing expected by April 30, 2025, subject to various approvals and conditions.

Investor Rights Investigation: Halper Sadeh LLC is investigating several companies, including Triumph Group, Aerovate Therapeutics, H&E Equipment Services, and Amplify Energy Corp., for potential violations of federal securities laws and breaches of fiduciary duties to shareholders related to their recent transactions.

Legal Support for Shareholders: The law firm offers free consultations to affected shareholders regarding their rights and options, emphasizing that they will handle cases on a contingent fee basis, meaning no upfront legal fees are required.

Class Action Firm Recognition: Monteverde & Associates PC, a leading class action firm based in New York, has been recognized as a Top 50 Firm for recovering millions for shareholders and is currently investigating several proposed mergers involving companies like Amplify Energy Corp., H&E Equipment Services, Aerovate Therapeutics, and Triumph Group.

Shareholder Actions Required: Shareholders of the mentioned companies are urged to participate in upcoming votes and tender offers scheduled between April 14 and April 16, 2025, with no cost or obligation involved in seeking further information or assistance from the firm.