NEW YORK, May 8, 2020 /PRNewswire/ -- AIkido Pharma Inc.
(Nasdaq: AIKI) ("AIkido" or the "Company") today
announced that Hoth Therapeutics Inc. registered the stock to
be distributed on April
3 2020.(https://www.sec.gov/Archives/edgar/data/1711786/000121390020008546/ea120229-s1_hoththerape.htm).
The registration was declared effective and the Prospectus was
filed on May 7,
2020.(https://www.sec.gov/Archives/edgar/data/1711786/000121390020011222/ea121442-424b3_hoththerap.htm).
We thank Hoth for their assistance.
In order to effectuate the distribution, the physical stock
certificate underlying the shares of Hoth common stock held by
AIkido must be physically delivered to Hoth's transfer agent. That
physical stock certificate is currently being held in a vault at
The Depository Trust Company ("DTC")
(https://www.dtcc.com). The Company has been advised by DTC
that unfortunately, due to ongoing concerns related to the current
global COVID-19 pandemic, DTC has issued an alert
(https://www.dtcc.com/-/media/Files/pdf/2020/4/30/13352-20.pdf)
notifying companies that all "Physical Securities Processing"
services are currently suspended and DTC will reassess the current
circumstances and provide an update on Friday, May 15, 2020. Until DTC resumes "Physical
Securities Processing", DTC is unable to deliver the physical stock
certificate underlying the shares of Hoth common stock to Hoth's
transfer agent, resulting in a delay of the actual
distribution.
The Company will update stockholders on the date of distribution
as soon as possible. Stockholders should note that the record date
for the distribution has not changed and individuals who were
stockholders at 5:00 p.m. on
April 30, 2020 will still be
receiving the distribution. No further action by shareholders is
necessary to receive the distribution. We regret the delay and
frustration this may cause the Company's stockholders.
About AIkido
AIkido was initially formed in 1967 and is a biotechnology
company with a diverse portfolio of small-molecule anti-cancer
therapeutics. The Company's platform consists of patented
technology from leading universities and researchers and we are
currently in the process of developing an innovative therapeutic
drug platform through strong partnerships with world renowned
educational institutions, including The University of Texas at Austin and Wake Forest University. Our diverse pipeline of
therapeutics includes therapies for pancreatic cancer, acute
myeloid leukemia (AML) and acute lymphoblastic leukemia (ALL). In
addition, we are constantly seeking to grow our pipeline to treat
unmet medical needs in oncology
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," "continue,"
"predict," "forecast," "project," "plan," "intend" or similar
expressions, or statements regarding intent, belief, or current
expectations, 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 SEC, 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.
Contact:
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Investor
Relations:
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Hayden IR
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Brett Maas, Managing
Partner
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Phone: (646)
536-7331
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Email:
brett@haydenir.com
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www.haydenir.com
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AIkido:
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Phone:
212-745-1373
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Email:
investorrelations@AIkido.com
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www.AIkido.com
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SOURCE AIkido Pharma Inc.