State Street Global Advisors announced today that the SPDR® S&P Biotech ETF (NYSE: XBI- News) received payment as an authorized claimant from a class action settlement related to Dendreon, Corp.
The total amount payable to the Fund is listed below. When the Fund calculates its net asset value (“NAV”) per share on Tuesday, August 19, 2014, it is estimated that the Fund’s NAV will be impacted by the receipt of the payment in the amount stated below based on the shares outstanding as of August 15, 2014.
Shares Outstanding as of August 15, 2014
|Per Share Amount|
|SPDR® S&P Biotech ETF||$233,312||7,500,000||$0.0311|
Source: State Street Bank and Trust Co.
State Street Global Advisors manages more than $413 billion* in SPDR ETF assets worldwide (as of June 30, 2014) and is one of the largest ETF providers in the US and globally.About State Street Global Advisors State Street Global Advisors (SSGA) is a global leader in asset management. The firm is relied on by sophisticated investors worldwide for its disciplined investment process, powerful global investment platform and access to every major asset class, capitalization range and style. SSGA is the asset management business of State Street Corporation, one of the world’s leading providers of financial services to institutional investors.