Business
Aditxt Extends the Timeline to Sign the Definitive Agreement to Acquire AiPharma Global to December 16, 2021
RICHMOND, Va.--(BUSINESS WIRE)-- Aditxt, Inc. (“Aditxt” or the “Company”) (Nasdaq: ADTX), a biotech innovation company with a mission to improve the health
About this update from Aditxt, Inc.
[{"type":"text","content":" RICHMOND, Va.--(BUSINESS WIRE)--\nAditxt, 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.\n\nAmro 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.”\n\nThe 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.\n\nAbout Aditxt™\n\nAditxt 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\n\nForward-Looking Statements\n\nCertain statements in this press release constitute “forward-looking statements” within the meaning of federal securities laws. Forward-looking statements include statements regarding the Comp...