Nabi Biopharmaceuticals announced that Nabi's Board of Directors declared a special cash dividend in the aggregate of approximately $31.4M, $1.108 per share of Nabi common stock. The special cash dividend is payable to stockholders of record on Oct. 26 and will be paid on Nov. 8. As previously disclosed, in connection with the proposed business combination transaction of Nabi and Biota Holdings Ltd. Nabi intends to return to its stockholders in the form of this special cash dividend Nabi's remaining cash in excess of the $27M required under the transaction agreement with Biota to be held by Nabi at the completion of the transaction, after satisfying outstanding liabilities.
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