Aditx Therapeutics, Inc. (Aditxt) Announces Closing of Initial Public Offering
Trading
on Nasdaq under Ticker “ADTX”
Loma Linda, CA - (NewMediaWire) - July 2, 2020 - Aditx Therapeutics, Inc. (Aditxt) (the “Company”) (Nasdaq: ADTX),
a life sciences company developing technologies specifically focused on
improving the health of the immune system through immune reprogramming and
monitoring, today announced the closing of its previously announced $11.0
million initial public offering of 1,226,668 units, each unit consisting of one
share of common stock, one Series A warrant, and one Series B warrant. In
addition, the underwriters partially exercised their overallotment option and
purchased Series A Warrants to purchase an aggregate of 184,000 shares of common
stock and Series B Warrants to purchase an aggregate of 184,000 shares of
common stock. The Series A warrants permit the holder to purchase one share of
common stock at an exercise price of $9.00 and expire after 5 years. The Series B
warrants contain an exchange feature that will permit the holder to exchange
the warrant into shares of common stock on a one-for-one basis any time
commencing the earlier of 10 days from the IPO or the time when $10 million of
volume is traded in the common stock, if the closing stock price of the common
stock on the date of exercise is below the exercise price of the Series B
warrant. The underwriters
continue to hold a 45-day option to purchase up to an additional 184,000 shares of
common stock at the public offering price, less underwriting discounts and
commissions,
to cover over-allotments, if any.
Each unit was sold at
price of $9.00. The common stock and the accompanying warrants included in
the units were purchased together in this offering but were issued separately
and were immediately separable upon issuance. The Company’s common stock
began trading on the Nasdaq Capital Market under the ticker symbol “ADTX” on June
30, 2020. The Company does not intend to apply for any listing of either of the
warrants on the Nasdaq Capital Market or any other securities exchange or
nationally recognized trading system, and it does not expect a market to
develop for the Series A Warrants or the Series B Warrants.
Dawson James Securities
acted as the sole book-running manager for the offering. ViewTrade Securities acted as the co-manager
for the offering. Sheppard, Mullin, Richter, & Hampton LLP served as
counsel to the Company in this offering.
A registration statement
relating to the offering of these securities was declared effective by the
Securities and Exchange Commission (the “SEC”) on June 29, 2020. Copies of the
registration statement can be accessed by visiting the SEC’s website
at www.sec.gov. The offering was made only by means of a prospectus. A
copy of the final prospectus relating to the offering may be obtained by
visiting the SEC’s website or from: Dawson James Securities, 1 N. Federal
Highway 5th Floor Boca Raton, Florida 33432, Attention: Prospectus Department
or by email at syndicate@dawsonjames.com.
This press release does not
constitute an offer to sell, or the solicitation of an offer to buy, securities
of the Company, and no offer or sale of the Company’s securities shall be made
in any state or jurisdiction in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the securities laws of
any such state or jurisdiction.
About Aditxt
Aditxt is developing
technologies specifically focused on improving the health of the immune system
through immune reprogramming and monitoring. The immune
reprogramming technology is currently at the pre-clinical stage and is designed
to retrain the immune system to induce tolerance with an objective of
addressing rejection of transplanted organs, autoimmune diseases, and
allergies. The immune monitoring technology is designed to provide a
personalized comprehensive profile of the immune system. For more
information, please visit: www.aditxt.com
Forward-Looking Statements
Certain
statements in this press release constitute “forward-looking statements” within
the meaning of the federal securities laws. Words such as “may,” “might,”
“will,” “should,” “believe,” “expect,” “anticipate,” “estimate,” “forecast,”
“project,” “plan,” “intend” or similar expressions, or statements regarding
intent, belief, or current expectations, including the Company’s expectations
regarding the proposed offering of the Company’s shares of common stock,
including as to the consummation of the offering described above and the size
of the offering are forward-looking statements. While the Company believes
these forward-looking statements are reasonable, undue reliance should not be
placed on any such forward-looking statements, which are based on information
available to us on the date of this release. These forward looking statements
are based upon current estimates and assumptions and are subject to various
risks and uncertainties, including without limitation those set forth in the
Company’s filings with the Securities and Exchange Commission, including, but
not limited to, risk factors relating to its business contained therein. Thus,
actual results could be materially different. The Company expressly disclaims
any obligation to update or alter statements whether as a result of new
information, future events or otherwise, except as required by law.
Contacts
Aditxt:
Amro Albanna
Co-founder
and Chief Executive Officer
IR@aditxt.com
Investor Relations:
PCG
Advisory:
Jeff Ramson
Chief
Executive Officer
IR@aditxt.com
646-762-4518