WALTHAM, Mass.— Aerovate Therapeutics (Nasdaq: AVTE) announced Monday it expects to issue a cash dividend between $67.6 million and $69.6 million to shareholders ahead of its proposed merger with Jade Biosciences.
The estimated dividend, which will be distributed to Aerovate shareholders prior to the closing of the merger, is based on the company’s projected net cash position. As of April 4, 2025, Aerovate had approximately 29 million shares outstanding.
The official declaration of the dividend is subject to board approval and is expected to be finalized later this month. The payment would occur in conjunction with the merger closing, which is contingent on shareholder approval and other standard closing conditions.
Aerovate shareholders will vote on the proposed merger at a special meeting scheduled for April 16. The companies anticipate the deal will close by the end of April.
