AeroClean Technologies and Molekule announce close of all-stock merger

AeroClean Technologies (AERC) and Molekule have successfully completed the all-stock merger transaction that was announced on October 3. Under the terms of the Merger, AeroClean stockholders now own approximately 50.5%, and Molekule stockholders own approximately 49.5%, of the outstanding shares of common stock of the combined company. Effective at 9:00 a.m. eastern time on January 12 AeroClean changed its name and ticker symbol to Molekule Group (MKUL). The combined company has the largest range of proprietary and patented, FDA-cleared air purification devices to address the estimated $15B, rapidly growing global air purification market. The combined company on a pro forma basis would have generated approximately $48M of revenues in FY 2022, and approximately $13M of revenues in the fourth quarter. The combined company also offers a Software-as-a-service or SaaS, software solution for B2B businesses, further enabling facility managers to monitor and control individual room air quality on an enterprise-wide basis. "