Brief: Aeroclean Technologies And Molekule To Combine In An All-Stock Merger

Molekule

03/10/2022 21:21

Oct 3 (Reuters) - AeroClean Technologies Inc  AERC.O :
    * AEROCLEAN TECHNOLOGIES AND MOLEKULE TO COMBINE IN AN
ALL-STOCK
MERGER ESTABLISHING AN INDUSTRY-LEADING PROVIDER OF PREMIUM,
FDA-CLEARED AIR PURIFICATION PRODUCTS AND SOLUTIONS
    * AEROCLEAN TECHNOLOGIES INC - AEROCLEAN (NASDAQ: AERC) WILL
CHANGE ITS NAME AND TICKER SYMBOL TO MOLEKULE, INC. (NASDAQ:
MKUL)
    * AEROCLEAN TECHNOLOGIES INC - AMIN KHOURY WILL ASSUME A
MORE
ACTIVE ROLE AS NON-EXECUTIVE CHAIRMAN AT COMBINED COMPANY
    * AEROCLEAN TECHNOLOGIES INC - AEROCLEAN'S EXECUTIVE TEAM,
CEO
JASON DIBONA AND CFO RYAN TYLER, WILL REMAIN IN THOSE ROLES AT
COMBINED COMPANY
    * AEROCLEAN TECHNOLOGIES INC - MOLEKULE'S CEO JONATHAN
HARRIS WILL
TRANSITION TO CCO (CHIEF COMMERCIAL OFFICER) OF COMBINED COMPANY
    * AEROCLEAN TECHNOLOGIES INC - SIX-MEMBER AEROCLEAN BOARD OF
DIRECTORS WILL BE EXPANDED TO SEVEN MEMBERS
    * AEROCLEAN TECHNOLOGIES INC - BRAD FELD, MOLEKULE BOARD
MEMBER
AND CO-FOUNDER OF VENTURE CAPITAL FIRM FOUNDRY, JOINING COMBINED
COMPANY'S BOARD
    * AEROCLEAN - AEROCLEAN STOCKHOLDERS WILL OWN 50.5%,
MOLEKULE
STOCKHOLDERS WILL OWN 49.5% OF OUTSTANDING COMMON EQUITY OF
COMBINED CO ON PRO FORMA BASIS
    * AEROCLEAN TECHNOLOGIES INC - COMBINED COMPANY WILL REMAIN
HEADQUARTERED IN PALM BEACH GARDENS, FLORIDA
    * AEROCLEAN TECHNOLOGIES INC - TRANSACTION HAS BEEN
UNANIMOUSLY
APPROVED BY BOARD OF DIRECTORS OF BOTH AEROCLEAN AND MOLEKULE

Source text for Eikon:  ID:nGNX81WCzc 
Further company coverage:  AERC.O 
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