Entero Therapeutics rescinds 2024 ImmunogenX merger, retains $695K AP; names new CFO

GridAI Technologies Corp.

Rescission Agreement with ImmunogenX LLC signed March 24, 2025; unwinds the March 2024 merger.
Closing conditions include shareholder approval by June 30, 2025, lender consent, and resignation of director Jack Syage.
Company retains ~$695,000 of ImmunogenX accounts payable; ImmunogenX remains responsible for ~$9.28M secured debt.
Anna Skowron appointed CFO effective March 3, 2025; brings 14+ years of accounting and financial reporting experience.
CEO states rescission strengthens balance sheet and refocuses value creation strategy.

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