BRIEF-ARCA Biopharma And Oruka Therapeutics Announce Merger Agreement

Reuters

03 Apr 2024

April 3 (Reuters) - ARCA Biopharma Inc :

* 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: Further company coverage:

((Reuters.Briefs@thomsonreuters.com;))

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AND TRADE ON NASDAQ UNDER TICKER SYMBOL \"ORKA\"</p><p>   * ARCA BIOPHARMA INC: PRE-CLOSING PRIVATE FINANCING OF APPROXIMATELY $275 MILLION ANTICIPATED TO FUND OPERATIONS THROUGH 2027</p><p>   * ARCA BIOPHARMA INC - PRE-MERGER ORUKA STOCKHOLDERS ARE EXPECTED TO OWN APPROXIMATELY 97.62% OF COMBINED COMPANY</p><p>   * ARCA BIOPHARMA INC - ARCA IS EXPECTED TO CONTRIBUTE $5 MILLION TO COMBINED ENTITY</p><p>   * ARCA BIOPHARMA INC: PRE-CLOSING PRIVATE FINANCING OF APPROXIMATELY $275 MILLION ANTICIPATED TO FUND OPERATIONS THROUGH 2027</p><p>   * ARCA BIOPHARMA INC - EXPECTS TO PAY A DIVIDEND TO PRE-MERGER ARCA STOCKHOLDERS OF APPROXIMATELY $20 MILLION IMMEDIATELY PRIOR TO CLOSE OF MERGER</p><p>   * ARCA BIOPHARMA INC - COMBINED COMPANY WILL BE NAMED ORUKA THERAPEUTICS, INC. 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