Aditx Therapeutics, Inc. (Aditxt) Announces Pricing of Initial Public Offering
June 30 2020 - 9:49AM
via NEWMEDIAWIRE -- Aditx Therapeutics, Inc. (the “Company”)
(Nasdaq: ADTX), a life sciences company developing technologies
specifically focused on improving the health of the immune system
through immune reprogramming and monitoring, today announced the
pricing of its initial public offering of 1,226,668 units at
an offering price of $9.00 per unit. Each unit will immediately
separate into one share of common stock, one Series A warrant, and
one Series B warrant. The Series A warrants permit the holder to
purchase one share of common stock at an exercise price of $9.00
and expire after 5 years. The Series B warrants are
exercisable at $11.25 per share. The Series B warrants contain an
exchange feature that will permit the holder to exchange the
warrant into shares of common stock on a one-for-one basis any time
commencing the earlier of 10 days from the IPO or the time when $10
million of volume is traded in the common stock, if the closing
stock price of the common stock on the date of exercise is below
the exercise price of the Series B warrant. In addition,
Aditx has granted the underwriters a 45-day option to purchase up
to an additional 184,000 shares of common stock and/or Series
A Warrants to purchase up to an aggregate
of 184,000 shares of common stock and Series B Warrants
to purchase up to an aggregate of 184,000 shares of
common stock, in any combinations thereof, at the public offering
price per security, less the underwriting discounts and
commissions, to cover over-allotments, if any.
The shares of the Company’s common stock will
separate from the unit and immediately begin trading on the Nasdaq
Capital Market on June 30, 2020 under the ticker symbol “ADTX”. The
Company does not intend to apply for any listing of either of the
warrants on the Nasdaq Capital Market or any other securities
exchange or nationally recognized trading system, and it does not
expect a market to develop for the Series A Warrants or the Series
B Warrants. Dawson James Securities acted as the sole book-running
manager for the offering. ViewTrade Securities acted as
the co-manager for the offering.
The offering is being made solely by means of a
prospectus. A copy of the final prospectus related to the offering
may be obtained, when available, from Dawson James Securities,
Attention: Prospectus Department, 1 N. Federal Highway, 5th Floor,
Boca Raton, Florida 33432, by telephone at 1 (866) 928-0928 or by
email at syndicate@dawsonjames.com.
A registration statement on Form S-1 relating to
this U.S. offering was filed with the Securities and Exchange
Commission (“SEC”) and was declared effective by the SEC as of June
29, 2020. This press release does not constitute an offer to sell
or a solicitation of an offer to buy the securities described
herein, nor shall there be any sale of these securities in any
state or jurisdiction in which such an offer, solicitation or sale
would be unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction.
About Aditx Therapeutics,
Inc.
Aditx Therapeutics, Inc., a Delaware corporation,
is developing technologies specifically focused on improving the
health of the immune system through immune reprogramming and
monitoring. The immune reprogramming technology is currently
at the pre-clinical stage and is designed to retrain the immune
system to induce tolerance with an objective of addressing
rejection of transplanted organs, autoimmune diseases, and
allergies. The immune monitoring technology is designed to provide
a personalized comprehensive profile of the immune system. For
more information, please visit: www.aditxt.com
Forward Looking Statements
Certain statements in this press release
constitute “forward-looking statements” within the meaning of the
federal securities laws. Words such as “may,” “might,” “will,”
“should,” “believe,” “expect,” “anticipate,” “estimate,”
“forecast,” “project,” “plan,” “intend” or similar expressions, or
statements regarding intent, belief, or current expectations,
including the Company’s expectations regarding the proposed
offering of the Company’s shares of common stock, including as to
the consummation of the offering described above and the size of
the offering are forward-looking statements. While the Company
believes these forward-looking statements are reasonable, undue
reliance should not be placed on any such forward-looking
statements, which are based on information available to us on the
date of this release. These forward looking statements are based
upon current estimates and assumptions and are subject to various
risks and uncertainties, including without limitation those set
forth in the Company’s filings with the Securities and Exchange
Commission, including, but not limited to, risk factors relating to
its business contained therein. Thus, actual results could be
materially different. The Company expressly disclaims any
obligation to update or alter statements whether as a result of new
information, future events or otherwise, except as required by
law.
Contacts
Aditxt:Amro AlbannaCo-founder and
Chief Executive OfficerIR@aditxt.com
Investor Relations:
PCG Advisory:
Jeff RamsonChief Executive
OfficerIR@aditxt.com 646-762-4518
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