Core Viewpoint - Appili Therapeutics Inc. has entered into a third amending agreement with Aditxt, Inc. and Adivir, Inc. to modify the previously announced arrangement agreement for Aditxt to acquire all issued and outstanding Class A common shares of Appili [1][2] Group 1: Amending Agreement Details - The Outside Date for the transaction has been changed from September 30, 2024, to November 19, 2024 [2] - The deadline for convening a special shareholders' meeting to consider the transaction has been moved from September 30, 2024, to November 6, 2024 [2] - Aditxt's deadline to complete the financing has been extended from September 15, 2024, to October 18, 2024 [2] - The completion of the Continuance is now a condition for the completion of the arrangement [2] Group 2: Continuance and Regulatory Matters - The company will transition from being incorporated under the Canada Business Corporations Act to the Business Corporations Act (Ontario) to facilitate the transaction [3] - This transition will allow the company to complete the transaction through a court-approved plan of arrangement under the Business Corporations Act (Ontario) [3] Group 3: Lender Approval - Appili's senior secured lender, Long Zone Holdings Inc., has provided necessary waivers related to the loan agreement [4] - Appili has agreed to make a cash payment of 18,000 worth of Class A common shares by making a cash payment instead [4] Group 4: Company Overview - Appili Therapeutics is focused on drug development for infectious diseases and medical countermeasures [1][6] - The company aims to develop a pipeline of novel therapies to address urgent infections with unmet needs [6] - Appili is advancing a diverse range of anti-infectives, including an FDA-approved metronidazole suspension and a vaccine candidate [7]
Appili Therapeutics Announces Third Amendment to Arrangement Agreement and Provides Updated on Transaction with Aditxt