HomeMarket NewsTalaris Shareholders Approve Merger, Anticipate Reverse Stock Split

Talaris Shareholders Approve Merger, Anticipate Reverse Stock Split

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Maksim Labkouski

Talaris Therapeutics, listed on NASDAQ under the ticker symbol TALS, has received shareholder approval for its merger with Tourmaline Bio. The company also plans to conduct a reverse stock split before the deal is finalized, signaling significant changes ahead for investors.

Following completion of the merger, the combined entity will operate under the name Tourmaline Bio and is expected to begin trading on NASDAQ under the symbol TRML. The transaction is scheduled to close on or around October 19, fundamentally reshaping the landscape of the healthcare sector.

As part of the consolidation, Talaris anticipates implementing a 1-for-10 reverse stock split just before the closing date. The revised stock structure will allow for more efficient trading and presents an opportunity for shareholders to benefit from the synergy created by the merger. On Friday, October 20, the combined company’s stock will commence trading on a split-adjusted basis, ensuring a smooth transition for investors.

Talaris also disclosed that the merger agreement includes a special cash dividend of $1.5118 per Talaris share. Shareholders of record as of October 16, who retain their shares until market open on October 20, will be eligible to receive a dividend of $15.118 per share of the combined company’s stock. This additional financial incentive adds appeal to the investment opportunity presented by the merger.

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