Brief: Aditxt Enters Into Agreement To Acquire Evofem Biosciences To Address Diverse Reproductive Health Needs Of Women Globally

Aditxt

12/12/2023 13:48

Dec 12 (Reuters) - Aditxt Inc  ADTX.O :
    * ADITXT, INC. ENTERS INTO DEFINITIVE AGREEMENT TO ACQUIRE
EVOFEM
BIOSCIENCES, INC., CREATOR OF PHEXXI®, THE FIRST AND ONLY
FDA-APPROVED HORMONE-FREE CONTRACEPTIVE GEL, TO ADDRESS DIVERSE
REPRODUCTIVE HEALTH NEEDS OF WOMEN GLOBALLY
    * ADITXT INC - PROPOSED DEAL FOR HAVING AN AGGREGATE AMOUNT
OF
APPROXIMATELY $100 MILLION
    * ADITXT INC - TRANSACTION IS INTENDED TO CREATE SIGNIFICANT
STRATEGIC ADVANTAGES FOR BOTH COMPANIES
    * ADITXT INC - BOARDS OF DIRECTORS OF BOTH COMPANIES HAVE
UNANIMOUSLY APPROVED TRANSACTION
    * ADITXT INC - ASSUMED EVOFEM'S SENIOR SECURED DEBT THAT WAS
ISSUED TO INVESTOR UNDER SECURITIES PURCHASE AND SECURITY
AGREEMENT DATED APRIL 2020
    * ADITXT- AGREED TO PROVIDE $3.0 MILLION LOAN TO EVOFEM
BETWEEN
DATE OF SIGNING OF AGREEMENT AND CLOSING AND TO COVER EVOFEM'S
LEGAL COSTS RELATED TO DEAL
    * ADITXT INC - AT DEAL CLOSING, HOLDERS OF EVOFEM'S COMMON
STOCK
WILL EXCHANGE THEIR SHARES FOR AN AGGREGATE OF 610,000 SHARES OF
ADITXT COMMON STOCK
    * ADITXT INC - AFTER CLOSING, EVOFEM WILL BE A WHOLLY OWNED
SUBSIDIARY OF ADITXT
    * ADITXT INC -  EVOFEM WILL CONTINUE TO BE LED BY SAUNDRA
PELLETIER, CHIEF EXECUTIVE OFFICER OF EVOFEM, AND CURRENT
MANAGEMENT TEAM

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