Salarius to merge with Decoy; Decoy valued at $28M, legacy holders ~14.1% ownership

Decoy Therapeutics Inc.

Merger structured as stock-for-stock with Decoy valued at $28M and Salarius at $4.6M, based on cash at close.
Legacy Salarius stockholders retain ~14.1%; Decoy stockholders own ~85.9% of combined company.
Closing conditioned on minimum $6M Qualified Financing and continued Nasdaq listing.
Combined company to focus on Decoy's IMP3ACT peptide platform, SP-3164 P-PROTACs; initial targets antivirals and CRC.
Salarius paid $350K to cancel a warrant for 454,546 shares; SP-2577 program remains on partial clinical hold.

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