PTE - PolarityTE stock jumps 10% on LOI for $7.5M buyout by shareholder Brauser

• PolarityTE ( NASDAQ: PTE ) stock jumped 10.4% on Tuesday after the firm announced a non-binding letter of intent with shareholder Michael Brauser for his bid to acquire the firm for $1.03/share in cash, or ~$7.5M.
• The deal amount is lower than his initial offer of $1.25/share .
• As of December 23, there were ~7.3M shares outstanding and unvested restricted stock units covering an additional ~256.5K shares.
• Closing of the deal is subject to Brauser conducting due diligence, negotiation and execution of definitive transaction documents, and Brauser acquiring a majority stake in PolarityTE ( PTE ).
• At December 23, there were ~4.8M outstanding stock purchase warrants, which give its holders the right to receive payment in cash of the value of the warrants if ownership of PolarityTE's ( PTE ) outstanding stock changes to greater than 50%.
• The LOI contemplates that Brauser will make a capital contribution or loan to PolarityTE ( PTE ) to settle payment of outstanding warrants.
• Take a look at PolarityTE's ( PTE ) key stats compared with its peers' .

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