Appili Therapeutics Inc., a firm that specializes in developing drugs for infectious diseases, announced on Tuesday that it will be acquired by biotech innovation firm, Aditxt Inc. The agreed sale price is roughly $0.0561 per share, which is a 141% premium on the 30-day volume weighted average price of Appili shares preceding the date of the agreement.
As part of the sale, each Appili shareholder will receive 0.002745004 of an Aditxt share and $0.0467 per share for each Appili share they hold. The transaction hinges on Aditxt raising a minimum of $20 million in financing prior to the deal's closure, which is anticipated to take place by the third quarter of 2024.
