Summary by Moomoo AI
On November 11, 2024, Aditxt, through its subsidiary Adivir, and Appili Therapeutics entered into a Mutual Waiver, extending the acquisition agreement's Outside Date to December 15, 2024. This follows a series of amendments to the original Arrangement Agreement, initially signed on April 1, 2024, which outlines Adivir's acquisition of all Appili shares.The acquisition will proceed under a statutory plan of arrangement, with Appili shareholders receiving a combination of Aditxt shares and cash. The transaction is contingent upon Aditxt securing at least $20 million in financing. The companies have agreed to waive any termination rights until December 15, 2024, and Adivir has paid a $115,000 waiver fee to Appili.Financial statements for Appili as of September 30, 2024, have been filed, showing a net loss of $2.3 million for the six months ended. The transaction aims to address Appili's liquidity challenges and is expected to close by December 2024, subject to customary conditions and approvals.
