Summary by Moomoo AI
Aditxt, Inc., a biotech company specializing in immune modulation technology, has announced the issuance and sale of up to $35,000,000 of shares of common stock to Seven Knots, LLC under a common stock purchase agreement. The agreement allows Aditxt to direct Seven Knots to purchase shares at predetermined formulas, with the purchase price for the shares based on market prices at the time of sale. As of October 4, 2024, Aditxt has issued 3,347,535 shares of common stock for total gross cash proceeds of $6,903,379 under the agreement. The common stock is traded on The Nasdaq Capital Market under the symbol 'ADTX', with the last reported sale price being $1.60 per share as of October 4, 2024. The proceeds from the sale are intended for payments on outstanding senior notes, obligations under the Evofem Amended and Restated Merger Agreement, redemptions of outstanding Convertible Preferred Stock, and general corporate purposes including operating expenses and working capital.