AIkido Pharma Confirms Receipt of Unsolicited Offer

Rhea-AI Summary

AIkido Pharma Inc. (Nasdaq: AIKI) announced on August 9, 2022 that it received an unsolicited acquisition offer from Mr. Shalom Auerbach to buy all of its outstanding common stock at $8.00 per share in cash. The Board of Directors will thoroughly evaluate this proposal to determine the best course of action for the company and its shareholders. Shareholders are advised to take no action at this time. AIkido Pharma, established in 1967, is focused on developing small-molecule therapeutics for cancer and viral infections.

Positive

• Received unsolicited acquisition offer of $8.00 per share, indicating potential value increase.

Negative

• No established market for the stock price beyond the offer, creating uncertainty for investors.

NEW YORK, Aug. 10, 2022 /PRNewswire/ -- AIkido Pharma Inc. (Nasdaq: AIKI) ("AIkido" or the "Company") today confirms that on August 9, 2022, the Company received an unsolicited offer from Mr. Shalom Auerbach to acquire all of the Company's outstanding common stock for $8.00 per share in cash. 

The Company's Board of Directors will carefully review the proposal to determine the course of action that it believes is in the best interest of the Company and all AIkido shareholders. The Company will respond in due course. 

There is no need for shareholders to take any action at this time.

About AIkido Pharma Inc.

AIkido Pharma Inc. was initially formed in 1967 and is a biotechnology Company with a diverse portfolio of small-molecule anticancer and antiviral therapeutics. The Company's platform consists of patented technology from leading universities and researchers, and we are currently in the process of developing an innovative therapeutic drug platform through strong partnerships with world renowned educational institutions, including The University of Texas at Austin and University of Maryland at Baltimore. Our diverse pipeline of therapeutics includes therapies for pancreatic cancer, prostate cancer. We are constantly seeking to grow our pipeline to treat unmet medical needs in oncology. The Company is also developing a broad-spectrum antiviral platform that may potentially inhibit replication of multiple viruses including Influenza virus, SARS-CoV (coronavirus), MERS-CoV, Ebolavirus and Marburg virus.

Forward-Looking Statements

Certain statements in this press release constitute "forward-looking statements" within the meaning of the federal securities laws. Words such as "may," "might," "will," "should," "believe," "expect," "anticipate," "estimate," "continue," "predict," "forecast," "project," "plan," "intend" or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward-looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties, including without limitation those set forth in the Company's filings with the SEC, not limited to Risk Factors relating to its business contained therein. Thus, actual results could be materially different. The Company expressly disclaims any obligation to update or alter statements whether as a result of new information, future events or otherwise, except as required by law.

Contact:

Investor Relations:      

            Hayden IR
            Brett Maas, Managing Partner
            Phone: (646) 536-7331
            Email: brett@haydenir.com
            www.haydenir.com

AIkido Pharma Inc.:   

             Phone: 212-745-1373
             Email: investorrelations@aikidopharma.com
             www.aikidopharma.com

 

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SOURCE AIkido Pharma Inc.

FAQ

What was AIkido Pharma's unsolicited acquisition offer?

AIkido Pharma received an unsolicited offer of $8.00 per share cash to acquire all outstanding common stock.

When did AIkido Pharma receive the acquisition offer?

The acquisition offer was received on August 9, 2022.

What does AIkido Pharma plan to do about the acquisition offer?

The Board of Directors will review the proposal to determine the best course of action.

Should shareholders take any action regarding the acquisition offer?

Shareholders are advised to take no action at this time.

What is AIkido Pharma's focus in the biotechnology sector?

AIkido Pharma specializes in developing small-molecule anticancer and antiviral therapeutics.