ADTX - Aditxt in share exchange agreement to acquire AiPharma

Confirming earlier reports, Aditxt (NASDAQ:ADTX) has announced a share exchange agreement to acquire AiPharma Global Holdings, a subsidiary of AiPharma Group. AiPharma owns exclusive rights to Avigan and all formulation of its active pharmaceutical ingredient Favipiravir. These oral antiviral drugs are designed to target a range of infectious diseases, including COVID-19. Per the terms, the completion of acquisition involves two steps. As part of the initial step, expected to close on or before Jan. 31, 2021, Aditxt (ADTX) will acquire ~9.5% stake of AiPharma in return for ~4.8M shares of its common stock and $250K of cash. Subject to certain conditions, including the shareholder and Nasdaq approval, the remaining stake of ~90.5% will be acquired next, with the issuance of ~39.9M of Aditxt (ADTX) shares and a cash payment of $250K.

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Aditxt in share exchange agreement to acquire AiPharma