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

Provided By PR Newswire

Last update: Apr 7, 2025

Cash dividend expected to be in the range of $67.6 – 69.6 million

WALTHAM, Mass., April 7, 2025 /PRNewswire/ -- Aerovate Therapeutics, Inc. (Nasdaq: AVTE) ("Aerovate") today announced that, in connection with its previously announced merger (the "Merger") with Jade Biosciences, Inc. ("Jade"), it expects to declare a cash dividend to the pre-Merger Aerovate stockholders (the "Cash Dividend") in the range of $67.6 – 69.6 million in the aggregate. This expected dividend range is based on Aerovate's estimated net cash immediately prior to the closing of the Merger (the "Closing"). As of April 4, 2025, 28,985,019 shares of Aerovate's common stock are outstanding.