CEO, CIO, and Senior Advisors of Aditxt Complete Conversion of ~$1.1 Million in Accrued Compensation into Restricted IPO Units
Loma Linda, CA, July 10, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- 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 monitoring and reprogramming, today announced the conversion of accrued compensation due to the Company’s Chief Executive Officer, Chief Innovation Officer and two senior advisors to equity units with the same terms as the Company’s recent initial public offering (IPO), which was completed on July 2, 2020.
The conversion of the accrued compensation of the related parties, which totaled approximately
Each unit in the IPO consisted of one share of common stock, one Series A warrant, and one Series B warrant. The Series A warrants permit the holder to purchase one share of common stock at an exercise price of
Each unit in the IPO was sold at price of
About Aditxt
Aditxt is developing technologies specifically focused on improving the health of the immune system through immune monitoring and reprogramming. The immune monitoring technology is designed to provide a personalized comprehensive profile of the immune system. 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. 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.
Investor Relations Contact:
Jeff Ramson
Chief Executive Officer
PCG Advisory
IR@aditxt.com
646-762-4518