AgeX Therapeutics to acquire Serina in reverse merger; Serina holders to own ~75%

Serina Therapeutics, Inc.

AgeX stockholders expected to own ~25%, Serina holders ~75% on fully-diluted basis post-close.
AgeX to issue 3 warrants per 5 shares held (exercise $13.20, expiring July 31, 2025) and Incentive Warrants ($18, 4-year term).
Juvenescence (43.34% holder) commits $15M capital via warrant exercise; cancels out-of-the-money warrants.
Post-close board of 7 directors; Steve Ledger interim CEO, Randall Moreadith CSO, Tacey Viegas COO.
Closing conditions: reverse split to ~2.5M shares, stock price >=$12, AgeX cash >=$500k; termination fee $1M.

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

Serina Therapeutics, Inc. entered into Agreement and Plan of Merger and Reorganization with AgeX Therapeutics, Inc. (effective 2023-08-29).

Action: entry
Agreement: merger
Counterparty: AgeX Therapeutics, Inc.
Effective: 2023-08-29

Exact text from the filing

On August 29, 2023, AgeX Therapeutics, Inc. (“ AgeX ”) entered into an Agreement and Plan of Merger and Reorganization (the “ Merger Agreement ”) with Serina Therapeutics Inc., an Alabama corporation (“ Serina ”), and Canaria Transaction Corporation, an Alabama corporation and wholly owned subsidiary of AgeX (“ Merger Sub ”).

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245 material agreements filed in the last 30 days. Browse all material agreements →

Serina Therapeutics, Inc. filing history →

Source: SEC EDGAR

accession 0001493152-23-030618

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