Aditxt acquires Brain Scientific EEG assets; issues $6M Series B-1 preferred

Aditxt, Inc.

Acquisition includes 16 patents and flagship NeuroCap™ and NeuroEEG™ products for neurology.
Aditxt issued 6,000 shares of Series B-1 Convertible Preferred Stock (stated value $6M) to Brain Scientific creditors.
Aditxt exchanged a $2.625M secured promissory note for 2,625 shares of Series B-2 Convertible Preferred Stock.
Global EEG devices market valued at $1.06B in 2022, expected to grow at 10.2% CAGR through 2030.
Acquired assets assigned to Pearsanta, Aditxt's majority-owned subsidiary, entering neurological diagnostics market.

item 1.01 item 5.03 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 Assignment and Assumption Agreement with Agent of certain secured creditors of Brain Scientific, Inc. and Philip J. von Kahle (effective 2024-01-24).

Action: entry
Agreement: asset purchase
Counterparty: Agent of certain secured creditors of Brain Scientific, Inc. and Philip J. von Kahle
Effective: 2024-01-24

Exact text from the filing

On January 24, 2024, Aditxt, Inc., a Delaware corporation (the “ Company ”) entered into an Assignment and Assumption Agreement (the “ Assignment Agreement ”) with the agent (the “ Agent ”) of certain secured creditors (the “ Brain Creditors ”) of Brain Scientific, Inc., a Nevada corporation (“ Brain Scientific ”) and Philip J. von Kahle (the “ Seller ”), as assignee of Brain Scientific and certain affiliated entities (collectively, the “ Brain Companies ”) under an assignment for the benefit of creditors pursuant to Chapter 727 of the Florida Statutes.

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Aditxt, Inc. filing history →

Source: SEC EDGAR

accession 0001213900-24-008016

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