VYNE Therapeutics Declares Estimated $0.38-Per-Share Special Cash Dividend Ahead of Yarrow Merger
VYNE Therapeutics (VYNE) on Friday declared a special cash dividend estimated at $16.5 million, or about $0.38 per share, in connection with its pending merger with Yarrow Bioscience. The dividend will be payable to shareholders and warrant holders of record as of July 22, with funds expected to be paid to VYNE's transfer agent on July 23 and distributed to holders within a few days after that date, subject to the merger closing, the company said. The estimated payout is based on VYNE's projected net cash before closing and could change, it added. The merger is expected to close on or about July 24, pending shareholder approval at a special meeting scheduled for July 16 and satisfaction of customary closing conditions, VYNE Therapeutics said.
VYNE Therapeutics (VYNE) on Friday declared a special cash dividend estimated at $16.5 million, or about $0.38 per share, in connection with its pending merger with Yarrow Bioscience.
The dividend will be payable to shareholders and warrant holders of record as of July 22, with funds expected to be paid to VYNE's transfer agent on July 23 and distributed to holders within a few days after that date, subject to the merger closing, the company said.
The estimated payout is based on VYNE's projected net cash before closing and could change, it added.
The merger is expected to close on or about July 24, pending shareholder approval at a special meeting scheduled for July 16 and satisfaction of customary closing conditions, VYNE Therapeutics said.