Salarius cuts merger valuation from $4.6M to $2.31M; legacy holders drop to 7.6%

Decoy Therapeutics Inc.

Parent Valuation reduced to $2.31M, down from $4.6M in original Jan 2025 merger agreement.
Legacy Salarius stockholders retention cut to 7.6% from 14.1%; Decoy holders rise to 92.4%.
Exchange ratio change adds ~17M more shares to Decoy stockholders at closing.
Series A Preferred includes one-year anti-dilution protection and Nasdaq conversion restrictions.
Automatic conversion conditioned on Nasdaq listing approval and stockholder vote per Rule 5635.

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