Aditxt (NASDAQ: ADTX), a company dedicated to discovering, developing and deploying promising health innovations, has regained compliance with NASDAQ’s minimum stockholders’ equity requirement. The company was notified by NASDAQ regarding the compliance issues, which is subject to a mandatory panel monitor until Dec. 29, 2024. In addition, the company announced that it has entered into definitive agreements for the purchase and sale of 1,237,114 shares of common stock (or prefunded warrant in lieu thereof). The purchase price of the shares was $4.85 per share (or prefunded warrant in lieu thereof) and accompanying warrant. According to the announcement, each share of common stock (or prefunded warrant in lieu thereof) is being offered together with warrants to purchase two shares of common stock at an exercise price of $4.60 per share, with the warrants being exercisable upon issuance and expiring three years from the date of issuance. The private placement, which should close on or about Jan. 3, 2024, is subject to customary closing conditions. The gross proceeds are estimated to be $6 million, with the company planning to use the funds for working capital and other general corporate purposes. “Regaining compliance with NASDAQ is crucial for Aditxt,” said Aditxt cofounder, chair and CEO Amro Albanna in the press release. “It is a testament to our commitment to excellence in corporate governance, operational integrity, and financial transparency. Being publicly traded on the NASDAQ is integral to our business model. It enables an inclusive approach to decision-making, where stakeholders, not just a select few, can actively participate in steering the course of promising innovations. Today’s announcement validates our efforts and reinforces our mission to advance health innovations that could significantly impact global health outcomes and enhance shareholder value.”
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About Aditxt Inc.
Aditxt is a global innovation company focused on therapeutics and technologies that monitor and modulate the immune system. The company’s mission — Making Promising Innovations Possible, Together — is defined by its growing ecosystem of research institutions, global industry partners and shareholders that inform and inspire that mission. Aditxt’s diverse innovation portfolio includes Adimune Inc.(TM), which is developing and designing a new class of therapeutics for retraining the immune system to address organ rejection, autoimmunity and allergies; Adivir Inc.(TM), which is focused on identifying, developing and commercializing new ways to treat infectious diseases; and Pearsanta Inc.(TM), which offers personalized immune monitoring intended to be informative for a wide range of health conditions, including hereditary cancer, wounds and cardiomyopathy. For more information, please visit www.Aditxt.com.
NOTE TO INVESTORS: The latest news and updates relating to ADTX are available in the company’s newsroom at https://ibn.fm/ADTX
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