Graphite Bio to Pay Special Dividend Linked to Lenz Therapeutics Merger

Dow Jones03-09

By Ben Glickman

Graphite Bio will pay a special dividend connected to its merger with Lenz Therapeutics.

The South San Francisco, Calif.-based gene editing company said Friday it estimated the special dividend will be $1.03 a share.

The total value of the special dividend won't exceed $60 million, subject to certain adjustments in the merger agreement, according to Graphite Bio. The exact amount of the dividend will be determined after deducting certain cash amounts as outlined in the merger agreement.

The payment of the dividend is conditioned on the merger closing. Graphite Bio shareholders will vote on the deal at a March 14 meeting, with closing expected March 21.

Graphite Bio and Lenz said in November they planned to merge in an all-stock deal.

Write to Ben Glickman at ben.glickman@wsj.com

(END) Dow Jones Newswires

March 08, 2024 17:16 ET (22:16 GMT)

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