Aditxt Announces $1.2 Million Registered Direct Offering Priced At-The-Market under Nasdaq Rules
August 09 2024 - 8:00AM
Business Wire
Aditxt, Inc., (NASDAQ: ADTX) ("Aditxt" or the "Company"), an
innovation company developing and commercializing technologies with
a focus on monitoring and modulating the immune system, today
announced that it has entered into a securities purchase agreement
with certain institutional investors for the purchase and sale of
an aggregate of 1,130,189 shares of common stock (or common stock
equivalents in lieu thereof) at a purchase price of $1.06 per share
(or common stock equivalents in lieu thereof) in a registered
direct offering priced at-the-market under Nasdaq rules. The
offering is expected to close on or about August 9, 2024, subject
to the satisfaction of customary closing conditions.
H.C. Wainwright & Co. is acting as the exclusive placement
agent for the offering.
The gross proceeds from the offering are expected to be
approximately $1.2 million, prior to deducting placement agent’s
fees and other offering expenses payable by Aditxt. Aditxt intends
to use $500,000 of the net proceeds from the offering to fund
certain obligations under its Amended and Restated Merger Agreement
with Evofem Biosciences, Inc. and the remainder for working capital
and other general corporate purposes.
The shares of common stock, the pre-funded warrants and the
shares of common stock underlying the pre-funded warrants described
above are being offered pursuant to a shelf registration statement
on Form S-3 (File No. 333-280757) that was filed with the
Securities and Exchange Commission (the "SEC") on July 11, 2024,
and declared effective on August 6, 2024. The offering of the
shares of common stock and pre-funded warrants is made only by
means of a prospectus, including a prospectus supplement, forming a
part of the effective registration statement. A final prospectus
supplement and accompanying prospectus relating to the registered
direct offering will be filed with the SEC. Electronic copies of
the prospectus supplement, when available, may be obtained on the
SEC’s website at http://www.sec.gov and may also be obtained by
contacting H.C. Wainwright & Co., LLC at 430 Park Avenue, 3rd
Floor, New York, NY 10022, by phone at (212) 856-5711 or e-mail at
placements@hcwco.com
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy these securities, nor shall there
be any sale of these securities in any state or other jurisdiction
in which such offer, solicitation or sale would be unlawful prior
to the registration or qualification under the securities laws of
any such state or other jurisdiction.
About Aditxt
Aditxt, Inc.® is an innovation platform dedicated to
discovering, developing, and deploying promising innovations.
Aditxt’s ecosystem of research institutions, industry partners, and
shareholders collaboratively drives their mission to "Make
Promising Innovations Possible Together." The innovation platform
is the cornerstone of Aditxt’s strategy, where multiple disciplines
drive disruptive growth and address significant societal
challenges. Aditxt operates a unique model that democratizes
innovation, ensures every stakeholder’s voice is heard and valued,
and empowers collective progress.
Aditxt has a diverse innovation portfolio, including Adimune™,
Inc., which is leading the charge in developing a novel class of
therapeutics for retraining the immune system to combat organ
rejection, autoimmunity, and allergies. Adivir™, Inc. focuses on
enhancing national and population health and impacting public
health globally. Pearsanta™, Inc., delivers rapid, personalized,
and high-quality lab testing accessible anytime, anywhere, led by
its CLIA-certified and CAP-accredited clinical laboratory based in
Richmond, VA.
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/20240809133381/en/
Investor and Media Contact Mary O’Brien
mobrien@Aditxt.com
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