Appili Therapeutics – Press Release Correction

Rhea-AI Summary

Appili Therapeutics Inc. (TSX:APLI; OTCPink: APLIF) has issued a correction to its October 10, 2024 press release regarding the proposed arrangement with Aditxt, Inc. The initial press release incorrectly stated the cash consideration for each Appili share as US$ 0.467. The correct cash amount is US$ 0.0467 per Appili Share.

Under the corrected terms of the arrangement, for each Class A common share of Appili, shareholders will receive:

• US$ 0.0467 in cash
• 0.0000686251 of a share of Aditxt common stock (valued at approximately US$0.00013 per Appili Share based on Aditxt's closing price on October 3, 2024)

This correction is significant as it substantially reduces the cash component of the consideration for Appili shareholders in the proposed arrangement with Aditxt, Inc.

Positive

• None.

Negative

• Cash consideration for Appili shareholders reduced from US$ 0.467 to US$ 0.0467 per share
• Total value of consideration per Appili share (cash + stock) decreased to approximately US$ 0.047 from US$ 0.467

News Market Reaction – APLIF

+19.52%

1 alert

+19.52% News Effect

On the day this news was published, APLIF gained 19.52%, reflecting a significant positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

HALIFAX, Nova Scotia, Oct. 10, 2024 (GLOBE NEWSWIRE) -- Appili Therapeutics Inc. (TSX:APLI; OTCPink: APLIF) (the “Company” or “Appili”), announces correction to its press release entitled “Appili Therapeutics Announces Mailing of the Management Information Circular in Connection with the Special Meeting of Shareholders” issued on October 10, 2024 (the “Initial Press Release”).

The Initial Press Release, incorrectly stated that under the terms of the proposed arrangement with Aditxt, Inc. (the “Arrangement”), for each Class A common share of the Company (“Appili Shares”), shareholders will receive (i) US$ 0.467 in cash and (ii) 0.0000686251 of a share of Aditxt common stock (“Aditxt Shares”) (representing a value of approximately US$0.00013 per Appili Share based on the closing price of the Aditxt Shares on October 3, 2024). The reference to US$ 0.467 of cash consideration in the Initial Press Release was in error and such cash amount for each Appili Share should read US$ 0.0467.

This press release should be read in conjunction with the Initial Press Release and is subject to the forward looking statement disclaimer set out in the Initial Press Release. These corrections do not change any other information reported in the Initial Press Release.

Media Contact:
Jenna McNeil, Communications Manager
Appili Therapeutics
E: JMcNeil@AppiliTherapeutics.com  

Investor Relations Contact:
Don Cilla, President and CEO
Appili Therapeutics
E: Info@AppiliTherapeutics.com

FAQ

What is the corrected cash consideration for Appili Therapeutics (APLIF) shareholders in the Aditxt arrangement?

The corrected cash consideration for Appili Therapeutics (APLIF) shareholders is US$ 0.0467 per share, not US$ 0.467 as initially reported.

How much Aditxt stock will Appili Therapeutics (APLIF) shareholders receive in the arrangement?

Appili Therapeutics (APLIF) shareholders will receive 0.0000686251 of a share of Aditxt common stock for each Appili share, valued at approximately US$0.00013 per Appili Share based on Aditxt's closing price on October 3, 2024.

What is the total value of consideration per Appili Therapeutics (APLIF) share in the corrected arrangement terms?

The total value of consideration per Appili Therapeutics (APLIF) share is approximately US$ 0.047, consisting of US$ 0.0467 in cash and US$0.00013 in Aditxt stock.

When did Appili Therapeutics (APLIF) announce the correction to its press release about the Aditxt arrangement?

Appili Therapeutics (APLIF) announced the correction to its press release about the Aditxt arrangement on October 10, 2024.