Aerovate Therapeutics Announces Range of Expected Cash Dividend in Connection with the Proposed Merger with Jade Biosciences

Core Viewpoint - Aerovate Therapeutics, Inc. expects to declare a cash dividend of approximately $67.6 to$69.6 million to pre-Merger stockholders in connection with its merger with Jade Biosciences, Inc. [1][2] Company Overview - Aerovate Therapeutics is a biotechnology company focused on improving the lives of patients with rare cardiopulmonary diseases [4] - Jade Biosciences is developing therapies for autoimmune diseases, with its lead asset targeting immunoglobulin A nephropathy [5] Merger Details - The cash dividend is contingent upon the approval of Aerovate's board of directors and is expected to be announced later in April 2025 [2] - A 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 [2][3] Financial Information - As of April 4, 2025, there are 28,985,019 shares of Aerovate's common stock outstanding [1]