other material
confidence high
sentiment positive
materiality 0.70
Adaptin Bio completes reverse merger and $7.7M private placement for glioblastoma trial
ADAPTIN BIO, INC.
- Reverse merger of Unite Acquisition 1 Corp. subsidiary with Adaptin; Adaptin survives and will trade on OTC Markets.
- Private placement of 1,400,342 shares with Series A (1-yr, $4.40) and Series B (5-yr, $6.60) warrants.
- $1.5M promissory notes converted at $3.30/share; total gross proceeds ~$7.7M.
- Proceeds to fund Phase 1 trial of APTN-101 for glioblastoma after FDA IND clearance.
- Post-closing: Lucius Partners and former Adaptin holders each hold ~3.25M shares.