Aditxt regains Nasdaq compliance; exchanges $2.74M note for convertible preferred stock

Aditxt, Inc.

Regained compliance with Nasdaq Stockholders' Equity Rule; subject to mandatory panel monitor through Dec 29, 2024.
Exchanged $2.738M promissory note (incl. accrued interest) for 2,625 shares of Series B-2 Convertible Preferred Stock.
Series B-2 Preferred convertible into common at $4.71/sh; alternate conversion at 80% of VWAP with $0.9420 floor price.
Executed Voting Agreement: officers/directors must vote in favor of stockholder approval for common stock issuance to noteholder.

item 1.01 item 5.03 item 3.01 item 3.02 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Aditxt, Inc. entered into Note Exchange Agreement with Noteholder (effective 2023-12-29).

Action: entry
Counterparty: Noteholder
Effective: 2023-12-29

Exact text from the filing

On December 29, 2023, the Company entered into an Exchange Agreement (the “ Note Exchange Agreement ”) with the Noteholder, pursuant to which the Noteholder agreed, subject to the terms and conditions set forth therein, to exchange the Note, including all accrued but unpaid interest thereon, for an aggregate of 2,625 shares of a new series of convertible preferred stock of the Company

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Aditxt, Inc. filing history →

Source: SEC EDGAR

accession 0001213900-24-000065

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