APLIF - Appili Therapeutics Announces Amendment to Arrangement Agreement and Increase to Bridge Loan | Benzinga
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HALIFAX, Nova Scotia, July 02, 2024 (GLOBE NEWSWIRE) -- Appili Therapeutics Inc. (TSX:APLI, OTC:APLIF) (the "Company" or "Appili"), a biopharmaceutical company focused on drug development for infectious diseases and medical countermeasures, announces that it has entered into an amending agreement (the "Amending Agreement") among the Company, Aditxt, Inc. ("Aditxt") and Adivir, Inc. ("Adivir" and together with the Company and Aditxt, the "Parties") to amend the previously announced arrangement agreement dated April 1, 2024 among the Parties (the "Arrangement Agreement"), pursuant to which Aditxt, through its wholly-owned subsidiary, Adivir, will acquire all of the issued and outstanding Class A common shares of the Company by way of a court-approved plan of arrangement under the Canada Business Corporations Act (the "Transaction"). For further information on the Transaction please see the Company's news release dated April 2, 2024, which is available on the Company's profile on SEDAR+ at www.sedarplus.ca.
Under the Amending Agreement, (a) the Outside Date (as defined in the Arrangement Agreement) was changed from July 31, 2024 to August 30, 2024; (b) the deadline to convene the Company's special shareholders' meeting was changed from June 30, 2024 to August 30, 2024; and (c) the deadline for Aditxt to complete the Financing (as defined in the Arrangement Agreement) was changed from June 30, 2024 to August 30, 2024 or such later date as the Parties may agree in writing.
A copy of the Amending Agreement will be available on the Company's profile on SEDAR+ at www.sedarplus.ca.
Increase to Bridge Loan
The Company further announces that it has increased the principal amount of its previously announced unsecured bridge financing (the "Bridge Loan") from Bloom Burton & Co. Inc. (the "Lender") from C$300,000 to C$400,000 (the "Principal Increase"). ...