Aditxt, Inc. (Nasdaq: ADTX) Announces 1-for-50 Reverse Stock Split Effective Pre-Market Opening on September 14, 2022

Rhea-AI Summary

Aditxt, Inc. (Nasdaq: ADTX) announced a 1-for-50 reverse stock split effective September 13, 2022. The split aims to comply with Nasdaq's $1.00 per share minimum bid price requirement. Post-split, approximately 1,156,674 shares will be outstanding with the CUSIP number 007025505. The reverse split was approved by stockholders during a special meeting on September 7, 2022. Trading on a post-split basis will begin on September 14, 2022. Aditxt focuses on immune system monitoring and modulation technologies.

Positive

• Reverse stock split aimed at regaining compliance with Nasdaq's minimum bid requirement.
• Approval from stockholders for the reverse split indicates shareholder support.

Negative

• Reverse stock split may indicate underlying issues with stock value.
• Potential for decreased investor confidence due to a significant stock split ratio.

RICHMOND, Va.--(BUSINESS WIRE)-- Aditxt, Inc. (Nasdaq: ADTX), a biotech innovation company developing and commercializing technologies focused on monitoring and modulating the immune system, announced today that it will effect a 1-for-50 reverse split of its common stock effective as of 4:01 p.m. Eastern Time on September 13, 2022. Commencing with the opening of trading on The Nasdaq Capital Market on September 14, 2022, the Company’s common stock will trade on a post-split basis under the same symbol ADTX. The reverse stock split was approved by the Company’s stockholders at the special meeting held on September 7, 2022, with the final ratio determined by the Company’s board of directors.

As a result of the reverse stock split, the CUSIP number for the Company’s common stock will now be 007025505. As a result of the reverse stock split, every 50 shares of issued and outstanding common stock will be exchanged for 1 share of common stock, with any fractional shares being rounded up to the next higher whole share. Immediately after the reverse stock split becomes effective, the Company will have approximately 1,156,674 shares of common stock issued and outstanding.

The reverse stock split is primarily intended to bring the Company into compliance with Nasdaq’s $1.00 per share minimum bid price requirement for continued listing.

Additional information concerning the reverse stock split can be found in Aditxt’s definitive proxy statement filed with the Securities and Exchange Commission on August 1, 2022, as amended.

About Aditxt, Inc.

Aditxt is a biotech innovation company developing and commercializing technologies focused on monitoring and modulating the immune system. Aditxt’s immune monitoring technologies are designed to provide a personalized immune profile. Aditxt’s immune modulating technologies, currently preclinical, are being developed to retrain the immune system to induce tolerance to address rejection of transplanted organs, autoimmune diseases and allergies. For more information, please visit www.Aditxt.com and www.AditxtScore.com

Forward-Looking Statements

This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. In evaluating such statements, prospective investors should review carefully various risks and uncertainties identified in this release and matters set in the company's SEC filings. These risks and uncertainties could cause the company's actual results to differ materially from those indicated in the forward-looking statements.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220913006253/en/

Media and Investor Relations Contact:

ir@aditxt.com

www.aditxt.com

Source: Aditxt, Inc.

FAQ

What is the purpose of Aditxt's reverse stock split on September 13, 2022?

The reverse stock split is intended to bring Aditxt into compliance with Nasdaq's $1.00 per share minimum bid price requirement.

How does Aditxt's reverse stock split affect existing shareholders?

Every 50 shares of Aditxt will be exchanged for 1 share post-split, resulting in approximately 1,156,674 shares outstanding.

When will Aditxt's common stock start trading on a post-split basis?

Aditxt's common stock will begin trading on a post-split basis on September 14, 2022.

What was the outcome of the special meeting held on September 7, 2022, for Aditxt?

Stockholders approved the reverse stock split at the special meeting.

What will be the new CUSIP number for Aditxt's common stock after the reverse split?

The new CUSIP number for Aditxt's common stock will be 007025505.