Aditxt Announces Pricing of $20.0 Million Public Offering
16 September 2022 - 11:20PM
Business Wire
Aditxt, Inc., (Nasdaq: ADTX) (the “Company” or “Aditxt”), a
biotech innovation company developing and commercializing
technologies focused on monitoring and modulating the immune
system, today announced the pricing of a public offering of
3,333,333 shares of its common stock (or common stock equivalents
in lieu thereof), together with warrants to purchase up to
3,333,333 shares of its common stock at a combined offering price
to the public of $6.00 per share (or common stock equivalent) and
associated warrants. The warrants will have an exercise price of
$6.00 per share, are exercisable immediately upon issuance, and
will expire five years following the date of issuance. The closing
of the offering is expected to occur on or about September 20,
2022, 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 to the Company from the offering are expected
to be approximately $20.0 million, before deducting the placement
agent’s fees and other offering expenses payable by the Company.
The Company intends to use the net proceeds from this offering for
general corporate purposes, which may include research and
development expenses, capital expenditures, working capital and
general and administrative expenses, and potential acquisitions of
or investments in businesses, products and technologies that
complement our business, although the Company has no present
commitments or agreements to make any such acquisitions or
investments.
The securities described above are being offered pursuant to a
registration statement on Form S-1 (File No. 333-266183) initially
filed with the Securities and Exchange Commission (SEC) on July 18,
2022 and became effective on September 16, 2022. The public
offering is being made only by means of a prospectus, which forms a
part of the effective registration statement. When available,
electronic copies of the final prospectus may be obtained for free
on the SEC’s website located 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 does not constitute an offer to sell or the
solicitation of an offer to buy any of the securities described
herein, nor shall there be any sale of these securities in any
state or other jurisdiction in which such an offer, solicitation or
sale would be unlawful prior to registration or qualification under
the securities laws of any such state or other jurisdiction.
About Aditxt
Aditxt is a biotech innovation company developing and
commercializing technologies focused on monitoring and modulating
the immune system. Aditxt’s immune monitoring technologies are
designed to provide a personalized immune profile. Aditxt’s immune
modulating technologies, currently preclinical, are being developed
to retrain the immune system to induce tolerance to address
rejection of transplanted organs, autoimmune diseases and
allergies. For more information, please visit www.Aditxt.com and
www.AditxtScore.com.
Forward-Looking Statements
Certain statements in this press release constitute
"forward-looking statements" within the meaning of federal
securities laws. Forward-looking statements in this press release
include, without limitation, the ability of the Company to close
the offering and the use of proceeds therefrom. 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 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/20220916005105/en/
Media and Investor Relations Contact: ir@aditxt.com
www.aditxt.com
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