0001726711
false
--12-31
0001726711
2023-08-17
2023-08-17
iso4217:USD
xbrli:shares
iso4217:USD
xbrli:shares
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of The
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): August
17, 2023
Aditxt, Inc.
(Exact name of registrant as specified in its charter)
Delaware |
|
001-39336 |
|
82-3204328 |
(State or other jurisdiction
of incorporation) |
|
(Commission File Number) |
|
(IRS Employer
Identification No.) |
737 N. Fifth Street, Suite 200 Richmond, VA |
|
23219 |
(Address of principal executive offices) |
|
(Zip Code) |
Registrant’s telephone number,
including area code: (650) 870-1200
N/A
(Former name or former address, if changed since
last report)
Check the appropriate box below if the Form 8-K
filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General
Instruction A.2. below):
☐ |
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
☐ |
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
☐ |
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
☐ |
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b)
of the Act:
Title of each class |
|
Trading Symbol(s) |
|
Name of each exchange on which registered |
Common Stock, par value $0.001 |
|
ADTX |
|
The Nasdaq Stock Market LLC |
Indicate by check mark whether the registrant
is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the
Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☒
If an emerging growth company, indicate by check
mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting
standards provided pursuant to Section 13(a) of the Exchange Act.
Item 3.03. Material Modification to Rights
of Security Holders.
To the extent required by Item 3.03 of Form 8-K,
the information contained in Item 5.03 of this Current Report on Form 8-K is incorporated herein by reference.
Item 5.03 Amendments to Articles of Incorporation or Bylaws; Change
in Fiscal Year
As previously disclosed on August 16, 2023, Aditxt,
Inc (the “Company”) held an annual meeting of stockholders (the “Annual Meeting”). At the Annual Meeting, the
stockholders approved a proposal to amend the Company’s certificate of incorporation to effect a reverse split of the Company’s
outstanding shares of common stock, par value $0.001 at a specific ratio within a range of one-for-five (1-for-5) to a maximum of one-for-two
hundred (1-for-200), with the exact ratio to be determined by the Company’s board of directors in its sole discretion.
Following the Annual Meeting, the board of directors
approved a one-for-forty (1-for-40) reverse split of the Company’s issued and outstanding shares of common stock (the “Reverse
Stock Split”). On August 17, 2023, the Company filed with the Secretary of State of the State of Delaware a certificate of amendment
to its certificate of incorporation (the “Certificate of Amendment”) to effect the Reverse Stock Split. The Reverse Stock
Split will become effective under Delaware state law as of 4:01 p.m. Eastern Time on August 17, 2023, and the Company’s common stock
is expected to begin trading on a split-adjusted basis when the Nasdaq Stock Market opens on August 18, 2023.
When the Reverse Stock Split becomes effective, every
40 shares of the Company’s issued and outstanding common stock will automatically be combined, converted, and changed into 1 share
of the Company’s common stock, without any change in the number of authorized shares or the par value per share. In addition, a
proportionate adjustment will be made to the per share exercise price and the number of shares issuable upon the exercise of all outstanding
stock options, restricted stock units and warrants to purchase shares of common stock and the number of shares reserved for issuance pursuant
to the company’s equity incentive compensation plans. Any fraction of a share of common stock that would be created as a result
of the Reverse Stock Split will be rounded up to the next whole share. Holders of the Company’s common stock held in book-entry
form or through a bank, broker or other nominee do not need to take any action in connection with the Reverse Stock Split. Stockholders
of record will be receiving information from the Company’s transfer agent regarding their common stock ownership post-Reverse Stock
Split.
The Company’s common stock will continue to trade on the Nasdaq
Stock Market LLC under the existing symbol “ADTX”, but the security has been assigned a new CUSIP number (007025604).
The foregoing description of the Certificate of
Amendment does not purport to be complete and is qualified in its entirety by reference to the full text of the Certificate of Amendment,
which is filed as Exhibit 3.1 to this Current Report on Form 8-K and incorporated by reference herein.
Item 8.01 Other Events.
On August 17, 2023, the Company issued a press release
announcing the Reverse Stock Split. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits.
SIGNATURES
Pursuant to the requirements of the Securities
and Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Dated: August 17, 2023 |
ADITXT, INC. |
|
|
|
|
By: |
/s/ Amro Albanna |
|
Name: |
Amro Albanna |
|
Title: |
Chief Executive Officer |
-2-
Exhibit
3.1
CERTIFICATE
OF AMENDMENT
to
the
AMENDED
AND RESTATED CERTIFICATE OF INCORPORATION
of
ADITXT,
INC.
ADITXT,
INC., a corporation organized and existing under the General Corporation Law of the State of Delaware (the “Corporation”),
does hereby certify as follows:
FIRST:
The name of the Corporation is Aditxt, Inc. The Certificate of Incorporation was filed with the Secretary of State of the State of Delaware
(the “Secretary of State”) on September 28, 2017, as amended ( the “Certificate of Incorporation”).
SECOND:
ARTICLE IV, SECTION I of the Corporation’s Certificate of Incorporation shall be amended by inserting Subsection “(e)”
at the end of such section which shall read as follows:
e.
Reverse Stock Split. As of August 18, 2023 at 4:01 p.m. Eastern Time (the “Effective Time”) of this Certificate of
Amendment pursuant to the Section 242 of the General Corporation Law of the State of Delaware, each forty (40) shares of the Corporation’s
Common Stock, issued and outstanding immediately prior to the Effective Time (the “Old Common Stock”) shall automatically
without further action on the part of the Corporation or any holder of Old Common Stock, be reclassified, combined, converted and changed
into one (1) fully paid and nonassessable shares of common stock, par value of $0.001 per share (the “New Common Stock”),
subject to the treatment of fractional share interests as described below (the “Reverse Stock Split”). The conversion of
the Old Common Stock into New Common Stock will be deemed to occur at the Effective Time. From and after the Effective Time, certificates
representing the Old Common Stock shall represent the number of shares of New Common Stock into which such Old Common Stock shall have
been converted pursuant to this Certificate of Amendment. Holders who otherwise would be entitled to receive fractional share interests
of New Common Stock upon the effectiveness of the reverse stock split shall be entitled to receive a whole share of New Common Stock
in lieu of any fractional share created as a result of such Reverse Stock Split.
THIRD:
The stockholders of the Corporation have duly approved the foregoing amendment in accordance with the provisions of Section 242 of the
General Corporation Law of the State of Delaware.
IN
WITNESS WHEREOF, the Corporation has caused this Certificate of Amendment to be duly adopted and executed in its corporate name and on
its behalf by its duly authorized officer as of the 17th day of August, 2023.
ADITXT, INC. |
|
|
|
|
By: |
/s/
Amro Albanna |
|
Name: |
Amro Albanna |
|
Title: |
Chief Executive Officer |
|
Exhibit 99.1
Aditxt, Inc. (NASDAQ: ADTX) Announces 1-for-40 Reverse Stock Split Effective at the Open of Trading on August 18, 2023
RICHMOND, Va. (Aug. 17, 2023) –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. 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 websitesat 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.
Media and Investor Relations Contact:
ir@aditxt.com
www.aditxt.com
v3.23.2
Cover
|
Aug. 17, 2023 |
Cover [Abstract] |
|
Document Type |
8-K
|
Amendment Flag |
false
|
Document Period End Date |
Aug. 17, 2023
|
Current Fiscal Year End Date |
--12-31
|
Entity File Number |
001-39336
|
Entity Registrant Name |
Aditxt, Inc.
|
Entity Central Index Key |
0001726711
|
Entity Tax Identification Number |
82-3204328
|
Entity Incorporation, State or Country Code |
DE
|
Entity Address, Address Line One |
737 N. Fifth Street, Suite 200
|
Entity Address, City or Town |
Richmond
|
Entity Address, State or Province |
VA
|
Entity Address, Postal Zip Code |
23219
|
City Area Code |
650
|
Local Phone Number |
870-1200
|
Written Communications |
false
|
Soliciting Material |
false
|
Pre-commencement Tender Offer |
false
|
Pre-commencement Issuer Tender Offer |
false
|
Title of 12(b) Security |
Common Stock, par value $0.001
|
Trading Symbol |
ADTX
|
Security Exchange Name |
NASDAQ
|
Entity Emerging Growth Company |
true
|
Elected Not To Use the Extended Transition Period |
false
|
X |
- DefinitionBoolean flag that is true when the XBRL content amends previously-filed or accepted submission.
+ References
+ Details
Name: |
dei_AmendmentFlag |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:booleanItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionEnd date of current fiscal year in the format --MM-DD.
+ References
+ Details
Name: |
dei_CurrentFiscalYearEndDate |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:gMonthDayItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionFor the EDGAR submission types of Form 8-K: the date of the report, the date of the earliest event reported; for the EDGAR submission types of Form N-1A: the filing date; for all other submission types: the end of the reporting or transition period. The format of the date is YYYY-MM-DD.
+ References
+ Details
Name: |
dei_DocumentPeriodEndDate |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:dateItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'.
+ References
+ Details
Name: |
dei_DocumentType |
Namespace Prefix: |
dei_ |
Data Type: |
dei:submissionTypeItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionAddress Line 1 such as Attn, Building Name, Street Name
+ References
+ Details
Name: |
dei_EntityAddressAddressLine1 |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:normalizedStringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- Definition
+ References
+ Details
Name: |
dei_EntityAddressCityOrTown |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:normalizedStringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionCode for the postal or zip code
+ References
+ Details
Name: |
dei_EntityAddressPostalZipCode |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:normalizedStringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionName of the state or province.
+ References
+ Details
Name: |
dei_EntityAddressStateOrProvince |
Namespace Prefix: |
dei_ |
Data Type: |
dei:stateOrProvinceItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionA unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Exchange Act -Number 240 -Section 12 -Subsection b-2
+ Details
Name: |
dei_EntityCentralIndexKey |
Namespace Prefix: |
dei_ |
Data Type: |
dei:centralIndexKeyItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionIndicate if registrant meets the emerging growth company criteria.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Exchange Act -Number 240 -Section 12 -Subsection b-2
+ Details
Name: |
dei_EntityEmergingGrowthCompany |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:booleanItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionCommission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.
+ References
+ Details
Name: |
dei_EntityFileNumber |
Namespace Prefix: |
dei_ |
Data Type: |
dei:fileNumberItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionTwo-character EDGAR code representing the state or country of incorporation.
+ References
+ Details
Name: |
dei_EntityIncorporationStateCountryCode |
Namespace Prefix: |
dei_ |
Data Type: |
dei:edgarStateCountryItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Exchange Act -Number 240 -Section 12 -Subsection b-2
+ Details
Name: |
dei_EntityRegistrantName |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:normalizedStringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Exchange Act -Number 240 -Section 12 -Subsection b-2
+ Details
Name: |
dei_EntityTaxIdentificationNumber |
Namespace Prefix: |
dei_ |
Data Type: |
dei:employerIdItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionLocal phone number for entity.
+ References
+ Details
Name: |
dei_LocalPhoneNumber |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:normalizedStringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionBoolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Exchange Act -Number 240 -Section 13e -Subsection 4c
+ Details
Name: |
dei_PreCommencementIssuerTenderOffer |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:booleanItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionBoolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Exchange Act -Number 240 -Section 14d -Subsection 2b
+ Details
Name: |
dei_PreCommencementTenderOffer |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:booleanItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionTitle of a 12(b) registered security.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Exchange Act -Number 240 -Section 12 -Subsection b
+ Details
Name: |
dei_Security12bTitle |
Namespace Prefix: |
dei_ |
Data Type: |
dei:securityTitleItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionName of the Exchange on which a security is registered.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Exchange Act -Number 240 -Section 12 -Subsection d1-1
+ Details
Name: |
dei_SecurityExchangeName |
Namespace Prefix: |
dei_ |
Data Type: |
dei:edgarExchangeCodeItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionBoolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Exchange Act -Section 14a -Number 240 -Subsection 12
+ Details
Name: |
dei_SolicitingMaterial |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:booleanItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionTrading symbol of an instrument as listed on an exchange.
+ References
+ Details
Name: |
dei_TradingSymbol |
Namespace Prefix: |
dei_ |
Data Type: |
dei:tradingSymbolItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionBoolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Securities Act -Number 230 -Section 425
+ Details
Name: |
dei_WrittenCommunications |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:booleanItemType |
Balance Type: |
na |
Period Type: |
duration |
|
Aditxt (NASDAQ:ADTX)
Historical Stock Chart
From May 2024 to Jun 2024
Aditxt (NASDAQ:ADTX)
Historical Stock Chart
From Jun 2023 to Jun 2024