Graphite Bio (GRPH) has issued an announcement.
Graphite Bio, Inc. has announced a special cash dividend for stockholders in light of its upcoming merger with Lenz Therapeutics, Inc., scheduled to be finalized following stockholder approval and other closing conditions. The merger will see Lenz become a wholly owned subsidiary of Graphite. Stockholders on record by March 18, 2024, will receive an estimated $1.03 per share, payable by March 21, 2024, with the total dividend not exceeding $60 million. This strategic move is part of a broader effort by Graphite to enhance shareholder value and capitalizes on the anticipated benefits of merging with Lenz Therapeutics.
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