April 3 (Reuters) - ARCA Biopharma Inc ( ABIO ):

* ARCA BIOPHARMA AND ORUKA THERAPEUTICS ANNOUNCE MERGER

AGREEMENT

* ARCA BIOPHARMA AND ORUKA THERAPEUTICS ANNOUNCE MERGER

AGREEMENT

* ARCA BIOPHARMA INC ( ABIO ) - UNDER TERMS OF MERGER AGREEMENT,

PRE-MERGER

ARCA STOCKHOLDERS ARE EXPECTED TO OWN APPROXIMATELY 2.38% OF

COMBINED COMPANY

* ARCA BIOPHARMA INC ( ABIO ) - COMBINED COMPANY PLANS TO OPERATE

UNDER

NAME ORUKA THERAPEUTICS, INC. AND TRADE ON NASDAQ UNDER TICKER

SYMBOL "ORKA"

* ARCA BIOPHARMA INC ( ABIO ): PRE-CLOSING PRIVATE FINANCING OF

APPROXIMATELY $275 MILLION ANTICIPATED TO FUND OPERATIONS

THROUGH 2027

* ARCA BIOPHARMA INC ( ABIO ) - PRE-MERGER ORUKA STOCKHOLDERS ARE

EXPECTED

TO OWN APPROXIMATELY 97.62% OF COMBINED COMPANY

* ARCA BIOPHARMA INC ( ABIO ) - ARCA IS EXPECTED TO CONTRIBUTE $5

MILLION

TO COMBINED ENTITY

* ARCA BIOPHARMA INC ( ABIO ): PRE-CLOSING PRIVATE FINANCING OF

APPROXIMATELY $275 MILLION ANTICIPATED TO FUND OPERATIONS

THROUGH 2027

* ARCA BIOPHARMA INC ( ABIO ) - EXPECTS TO PAY A DIVIDEND TO

PRE-MERGER

ARCA STOCKHOLDERS OF APPROXIMATELY $20 MILLION IMMEDIATELY PRIOR

TO CLOSE OF MERGER

* ARCA BIOPHARMA INC ( ABIO ) - COMBINED COMPANY WILL BE NAMED ORUKA

THERAPEUTICS, INC. AND LED BY LAWRENCE KLEIN, ORUKA'S CURRENT

CHIEF EXECUTIVE OFFICER

* ARCA BIOPHARMA INC ( ABIO ): EXPECTS TO DECLARE A CASH DIVIDEND TO

PRE-MERGER ARCA STOCKHOLDERS EQUAL TO AMOUNT BY WHICH ARCA'S NET

CASH EXCEEDS $5 MILLION.

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