Aerovate Therapeutics Declares Special Cash Dividend in Connection with the Proposed Merger with Jade Biosciences

Core Viewpoint - Aerovate Therapeutics, Inc. has declared a special cash dividend of $69.6 million, approximately$2.40 per share, in connection with its merger with Jade Biosciences, Inc. [1] Company Overview - Aerovate Therapeutics is a biotechnology company focused on improving the lives of patients with rare cardiopulmonary diseases [5] - Jade Biosciences is developing therapies for autoimmune diseases, with its lead asset targeting IgA nephropathy [6] Dividend Details - The cash dividend will be payable to stockholders of record as of April 25, 2025, with a payment date scheduled for April 29, 2025 [1] - The estimated per share dividend is based on 28,985,019 shares of Aerovate's common stock outstanding as of April 9, 2025 [1] Merger Information - The payment of the cash dividend is contingent upon the closing of the merger, expected to occur around April 28, 2025, pending stockholder approval [3] - A special meeting for Aerovate's stockholders to vote on the merger is scheduled for April 16, 2025 [3]