Oruka Therapeutics, Inc. (ORKA): M&A transaction — ARCA completes reverse merger with Oruka; combined entity renamed Oruka Therapeutics (ORKA)

Oruka Therapeutics, Inc.

Merger closed: ARCA (shell) merges with private Oruka; Oruka shareholders own ~97.6% of combined company.
Pre-closing financing raised ~$275M gross from new & existing investors; includes $25M convertible note.
Special cash dividend of ~$23.4M ($1.613/share) paid to ARCA stockholders on Aug 28, 2024.
Reverse stock split (1-for-12) effective Sept 3, 2024; post-split common shares outstanding: ~29.4M.
Combined company changes name to Oruka Therapeutics, Inc. (ORKA) and begins trading on Nasdaq.

item 5.07 item 1.01 item 2.01 item 5.02 item 9.01 item 2.02 item 3.03 item 4.01 item 5.01 item 5.03 item 5.05 item 5.06 item 7.01

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

Oruka Therapeutics, Inc. underwent a change of control involving Oruka Therapeutics, Inc. (closed 2024-08-29).

Action: change of control
Counterparty: Oruka Therapeutics, Inc.
Closing: 2024-08-29

Exact text from the filing

pursuant to that certain Agreement and Plan of Merger and Reorganization, dated as of April 3, 2024

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Oruka Therapeutics, Inc. filing history →

Source: SEC EDGAR

accession 0001213900-24-076184

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