Salarius amends merger with Decoy; legacy holders diluted to 7.6%

Decoy Therapeutics Inc.

Effective ownership post-merger: Salarius legacy holders 7.6%, Decoy holders 92.4% (pre-Qualified Financing).
Salarius valuation reduced from $4.6M to $2.31M in Amendment 2; Decoy valued at $28M.
Qualified Financing requires minimum $6M; expected $8M from 1,470,588 shares at $5.44/share.
Amendment 4 removes threshold for anti-dilution adjustments; applies until Nasdaq listing & shareholder approval.
Merger accounted for as reverse asset acquisition with Decoy as accounting acquirer.

item 9.01

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