Aditxt Extends the Timeline to Sign the Definitive Agreement to Acquire AiPharma Global to December 16, 2021
December 02 2021 - 9:20AM
Business Wire
Aditxt, Inc. (“Aditxt” or the “Company”) (Nasdaq: ADTX), a
biotech innovation company with a mission to improve the health of
the immune system, announced today that it has entered into an
amendment to its previously announced transaction agreement with
AiPharma Global extending the outside date by which the parties
have to execute a definitive agreement from November 30, 2021 to
December 16, 2021, and to remove the $4 million termination fee
from the transaction agreement and associated credit agreement. In
addition, the parties agreed to reduce AiPharma Global’s borrowing
capacity under the credit agreement from $8.5 million to $8 million
and to require an aggregate cash payment of $500,000 to be made in
one or more payments at the initial closing and/or secondary
closing, as mutually agreed by the parties.
Amro Albanna, Co-Founder and CEO of Aditxt, stated, “We are
continuing to work towards a definitive agreement with AiPharma
Global and are excited by certain opportunities that they are
presently pursuing which align with our business and financial
objectives for 2022.”
The acquisition is subject to confirmatory due diligence, entry
into a definitive agreement based on agreed terms and other closing
conditions, including regulatory, board, shareholder, and Nasdaq
approvals. There is no assurance that the aforementioned approvals
will be granted.
About Aditxt™
Aditxt develops technologies focused on improving the health of
the immune system through immune monitoring and reprogramming.
Aditxt’s immune monitoring technology is designed to provide a
personalized comprehensive profile of the immune system. Aditxt’s
immune reprogramming technology, currently in the preclinical
state, is designed to retrain the immune system to induce tolerance
with an objective of addressing rejection of transplanted organs,
autoimmune diseases, and allergies. AditxtScore™ for COVID-19 is
Aditxt’s proprietary immune profile technology to equip people with
information about their personal level of protection. For more
information, please visit: www.aditxt.com www.AditxtScore™.com
Forward-Looking Statements
Certain statements in this press release constitute
“forward-looking statements” within the meaning of federal
securities laws. Forward-looking statements include statements
regarding the Company’s intentions, beliefs, projections, outlook,
analyses or current expectations concerning, among other things,
the Company’s ongoing and planned product and business development;
the Company’s intellectual property position; the Company’s ability
to develop commercial functions; expectations regarding product
launch and revenue; the Company’s results of operations, cash
needs, spending, financial condition, liquidity, prospects, growth
and strategies; the industry in which the Company operates; and the
trends that may affect the industry or the Company. Forward-looking
statements are not guarantees of future performance and actual
results may differ materially from those indicated by these
forward-looking statements as a result of various important
factors, as well as those risks more fully discussed in the section
titled “Risk Factors” in the Company’s most recent Annual Report on
Form 10-K, as well as discussions of potential risks,
uncertainties, and other important factors in the Company’s other
filings with the Securities and Exchange Commission. All such
statements speak only as of the date made, and the Company
undertakes no obligation to update or revise publicly any
forward-looking statements, whether as a result of new information,
future events or otherwise.
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version on businesswire.com: https://www.businesswire.com/news/home/20211202005622/en/
Media and Investor Relations Contact:
Aditxt, Inc. ir@aditxt.com
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