Aditxt (NASDAQ: ADTX), an innovation platform dedicated to accelerating promising health innovations, and its acquisition target Evofem Biosciences (OTCQB: EVFM), a women’s health company, have completed the Third Parent Equity Investment under its Amended and Restated Merger Agreement. According to the announcement, this strengthens the strategic and collaborative relationship between the two companies, which share a commitment to expand access to healthcare solutions for women around the world.
The announcement noted that Aditxt completed the investment by purchasing 460 shares of Evofem Series F-1 Convertible Preferred Stock for $460,000; this is in addition to the company’s previous investments in Evofem, which total $1.72 million. Aditxt also plans to complete the Fourth Parent Equity Investment by purchasing an additional 2,280 shares of Evofem Preferred Stock for $2.28 million; this purchase is anticipated by Oct. 31, 2024.
To view the full press release, visit https://ibn.fm/FsnRP
About Aditxt Inc.
Aditxt is an innovation platform dedicated to accelerating promising health innovations. Aditxt’s ecosystem of research institutions, industry partners and shareholders collaboratively drives its mission to “Make Promising Innovations Possible Together.” The innovation platform is the cornerstone of Aditxt’s strategy, where multiple disciplines drive disruptive growth and address significant societal challenges. Aditxt operates a unique model that democratizes innovation, ensures every stakeholder’s voice is heard and valued, and empowers collective progress. Aditxt currently operates two programs focused on immune health and precision health. The company plans to introduce two additional programs dedicated to public health and women’s health. For these, Aditxt has entered into an arrangement agreement with Appili Therapeutics Inc. (TSX: APLI) (OTC: APLIF), which focuses on infectious diseases, and a merger agreement with Evofem. Each program will be designed to function autonomously while collectively advancing Aditxt’s mission of discovering, developing and deploying innovative health solutions to tackle some of the most urgent health challenges. The closing of the transactions with Appili and Evofem is subject to several conditions, including but not limited to approval of the transactions by the respective target shareholders and Aditxt raising sufficient capital to fund its obligations at closing. No assurance can be given that all of the conditions to closing will be obtained or satisfied or that either of the transactions will ultimately close. For more information, please visit www.Aditxt.com.
NOTE TO INVESTORS: The latest news and updates relating to ADTX are available in the company’s newsroom at https://ibn.fm/ADTX
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