Aditxt Announces the Successful Passage of all Proposals at Recent Annual Shareholders’ Meeting, Setting the Stage for 2024 and 2025 Strategic Plans
At the recent annual meeting,
- Election of Directors: Four board members were re-elected, and one board member was elected to serve until the 2025 annual meeting, ensuring continuity in leadership.
-
Ratification of Auditors: The reappointment of dbbmckennon as the independent registered public accounting firm for the fiscal year ending
December 31, 2024 , was ratified. -
Issuance of Shares for Series B-1 Convertible Preferred Stoc
k: Shareholders approved the issuance of common stock underlying the Series B-1 Convertible Preferred Stock, originally issued in
January 2024 . -
Issuance of Shares for Series B-2 Convertible Preferred Stoc
k: Similar approval was granted for the issuance of common stock underlying the Series B-2 Convertible Preferred Stock, also issued in
January 2024 . -
Equity Line of Credit (ELOC) Proposal: Approval was given for the issuance of shares under the company’s equity line of credit, allowing
Aditxt to issue up to$150 million in common stock. - Authorized Share Increase: The number of authorized shares of common stock was increased from 100,000,000 to 1,000,000,000, providing flexibility for future financing and growth.
- Reverse Stock Split Proposal: The board was granted discretionary authority to execute a reverse stock split, ranging from one-for-five (1:5) to one-for-two hundred (1:200).
- Amendment to the 2021 Omnibus Equity Incentive Plan (the “2021 Plan”): The 2021 Plan was amended to increase the number of shares issuable under the 2021 Plan to 500,000 from the previous 37,500 shares.
- Adjournment Proposal: The proposal authorized the adjournment of the meeting if necessary, to solicit additional votes to approve any proposal.
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Forward-Looking Statements
Certain statements in this press release constitute “forward-looking statements” within the meaning of federal securities laws. Forward-looking statements include statements regarding the Company’s intentions, beliefs, projections, outlook, analyses or current expectations concerning, among other things, the Company’s ongoing and planned product and business development; the Company’s ability to finance and execute on its strategic M&A initiatives; the Company’s ability obtain the necessary funding and partner to commence clinical trials; the Company’s intellectual property position; the Company’s ability to develop commercial functions; expectations regarding product launch and revenue; the Company’s results of operations, cash needs, spending, financial condition, liquidity, prospects, growth and strategies; the Company’s ability to raise additional capital; the industry in which the Company operates; and the trends that may affect the industry or the Company. Forward-looking statements are not guarantees of future performance and actual results may differ materially from those indicated by these forward-looking statements as a result of various important factors, as well as market and other conditions and those risks more fully discussed in the section titled “Risk Factors” in the Company’s most recent Annual Report on Form 10-K, as well as discussions of potential risks, uncertainties, and other important factors in the Company’s other filings with the
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Media Relations:
Mary O’ Brien
mobrien@aditxt.com
(516) 753-9933
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