Appili Therapeutics signs definitive agreement to be acquired by Aditxt

Appili Therapeutics (APLIF) announced that it has entered into a definitive arrangement agreement pursuant to which Aditxt (ADTX), through its wholly-owned subsidiary, Adivir, agreed to acquire all of the issued and outstanding Class A common shares of Appili by way of a court-approved plan of arrangement under the Canada Business Corporations Act. Under the terms of the Arrangement Agreement, shareholders of Appili will receive 0.002745004 of a share of common stock of Aditxt and US$0.0467 for each Appili Share held representing implied total consideration per Appili Share of approximately US$0.0561 based on the closing price of the Aditxt shares on March 28, 2024. The Transaction Consideration represents an approximately 117% premium to the trading price of the Appili Shares based on the closing price of the shares of Appili on April 1, 2024 and an approximately 141% premium to the 30-day volume weighted average price of the Appili Shares prior to the date of the Arrangement Agreement. The Transaction is expected to enhance the combined entity’s portfolio of products and potentially create substantive synergies among existing programs, particularly precision diagnostics.