ARCA biopharma Announces 1-For-12 Reverse Stock Split In Connection With The Proposed Merger With Oruka Therapeutics; To Begin Trading On A Post-reverse Stock Split Basis On The Nasdaq Global Market On September 3, 2024, And Under The New Symbol "ORKA"
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ARCA biopharma has announced a 1-for-12 reverse stock split in preparation for its merger with Oruka Therapeutics. The stock will trade under the new symbol 'ORKA' on Nasdaq starting September 3, 2024.
August 23, 2024 | 8:31 pm
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ARCA biopharma is undergoing a 1-for-12 reverse stock split as part of its merger with Oruka Therapeutics. The stock will trade under the new symbol 'ORKA' on Nasdaq starting September 3, 2024.
The reverse stock split is a significant corporate action that often impacts stock prices. However, the effect can be neutral as it is a technical adjustment. The merger with Oruka Therapeutics and the new trading symbol 'ORKA' are key developments for investors.
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