Aditxt, Inc. (NASDAQ: ADTX) Announces 1-for-40 Reverse Stock Split Effective at the Open of Trading on August 18, 2023
August 17 2023 - 12:00PM
Business Wire
Aditxt, Inc. (NASDAQ: ADTX) (“Aditxt or the “Company”), a global
innovation company focused on therapeutics and technologies that
monitor and modulate the immune system, announced today that it
will effect a 1-for-40 reverse split of its common stock effective
as of 9:30 a.m. Eastern Time on August 18, 2023. Commencing with
the opening of trading on the Nasdaq Capital Market on August 18,
2023, the Company’s common stock will trade on a post-split basis
under the same symbol ADTX. The reverse stock split was approved by
the Company’s stockholders at the annual meeting held on August 16,
2023, with the final ratio determined by the Company’s board of
directors.
As a result of the reverse stock split, the CUSIP number for the
Company’s common stock will now be 007025604. As a result of the
reverse stock split, every 40 shares of issued and outstanding
common stock will be exchanged for 1 share of common stock, with
any fractional shares being rounded up to the next higher whole
share. Immediately after the reverse stock split becomes effective,
the Company will have approximately 190,319 shares of common stock
issued and outstanding.
The reverse stock split is primarily intended to bring the
Company into compliance with Nasdaq’s minimum bid price
requirement.
Additional information concerning the reverse stock split can be
found in Aditxt’s definitive proxy statement filed with the
Securities and Exchange Commission on July 20, 2023, as
amended.
About Aditxt, Inc.
Aditxt®, Inc. (NASDAQ: ADTX) is a global innovation company
focused on therapeutics and technologies that monitor and modulate
the immune system. Headquartered in Richmond, Virginia, with
operations in Silicon Valley, California, and New York, New York.
Aditxt’s mission "Making Promising Innovations Possible, Together"
is defined by our growing ecosystem of research institutions,
global industry partners and shareholders who inform and inspire
our mission. Aditxt’s diverse innovation portfolio includes:
Adimune™, Inc., aimed at developing and designing a new class of
therapeutics for retraining the immune system to address organ
rejection, autoimmunity, and allergies; Adivir™, Inc., focused on
identifying, developing, and commercializing new ways to treat
infectious diseases; and Pearsanta™, Inc., which intends to offer
personalized immune monitoring for a wide range of health
conditions, including hereditary cancer, wounds and
cardiomyopathy.
For more information, visit the Company’s websites at
www.Aditxt.com, www.Adimune.com and www.Pearsanta.com. Follow us on
LinkedIn for the latest company news.
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 ability to finance and execute on its strategic
M&A initiatives; 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 market and other conditions
and 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, except
as required by law.
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version on businesswire.com: https://www.businesswire.com/news/home/20230817239380/en/
Media and Investor Relations Contact: ir@aditxt.com
www.aditxt.com
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