11/19/2024 | Press release | Distributed by Public on 11/19/2024 15:16
Item 1.01 Entry Into a Material Definitive Agreement
Amendment No. 4 to Amended and Restated Merger Agreement
As previously reported in a Current Report on Form 8-K filed by the Aditxt, Inc. (the "Company"), on December 11, 2023 the Company entered into an Agreement and Plan of Merger (the "Merger Agreement") with Adifem, Inc. f/k/a Adicure, Inc., a Delaware corporation and wholly owned subsidiary of the Company ("Merger Sub") and Evofem Biosciences, Inc., a Delaware corporation ("Evofem"), pursuant to which, Merger Sub will be merged into and with Evofem (the "Merger"), with Evofem surviving the Merger as a wholly owned subsidiary of the Company. As previously reported in a Current Report on Form 8-K filed by the Company, on July 12, 2024, the Company, Merger Sub and Evofem entered into an Amended and Restated Agreement and Plan of Merger (the "Amended and Restated Merger Agreement"), pursuant to which, among other things, the parties agreed that on or prior to (a) the date of this Agreement, July 12, 2024 (the "Initial Parent Equity Investment Date"), the Company shall purchase 500 shares of Evofem's Series F-1 Preferred Stock, par value $0.0001 per share ("F-1 Preferred Stock") for an aggregate purchase price of $500,000 (the "Initial Parent Equity Investment"), (b) August 9, 2024 (the "Second Parent Equity Investment Date"), the Company shall purchase an additional 500 shares of the F-1 Preferred Stock for an additional aggregate purchase price of $500,000 (the "Second Parent Equity Investment"), (c) the earlier of August 30, 2024 or five (5) business days of the closing of a public offering by the Company resulting in aggregate net proceeds to the Company of no less than $20,000,000, (such earlier date the "Third Parent Equity Investment Date"), the Company shall purchase an additional 2,000 shares of F-1 Preferred Stock for an additional aggregate purchase price of $2,000,000 (the "Third Parent Equity Investment") and (d) September 30, 2024, (the "Fourth Parent Equity Investment Date"), the Company shall purchase an additional 1,000 shares of the F-1 Preferred Stock for an additional aggregate purchase price of $1,000,000 (the "Fourth Parent Equity Investment").
As previously reported in the Company's Quarterly Report on form 10-Q for the quarterly period ended June 30, 2024, on August 16, 2024, the Company, Merger Sub and Evofem entered into Amendment No. 1 to the Amended and Restated Merger Agreement ("Amendment No. 1"), pursuant to which the date by which the Company is to make the Third Parent Equity Investment was amended to the earlier of September 6, 2024 or five (5) business days of the closing of a public offering by Parent resulting in aggregate net proceeds to Parent of no less than $20,000,000.
As previously reported in a Current Report on Form 8-K filed by the Company, on September 6, 2024, the Company, Merger Sub and Evofem entered into Amendment No. 2 to the Amended and Restated Merger Agreement ("Amendment No. 2"), pursuant to which the date by which the Company shall make the Third Parent Equity Investment was amended from September 6, 2024 to September 30, 2024 and to adjust the amount of such investment from $2 million to $1.5 million, and to extend the date by which Aditxt shall make the Fourth Parent Equity Investment (as defined under the Amended and Restated Merger Agreement) was amended from September 30, 2024 to October 31, 2024 and adjust the amount of such investment from $1 million to $1.5 million.
As previously reported in a Current Report on Form 8-K filed by the Company, on October 2, 2024, the Company, Merger Sub and Evofem entered into Amendment No. 3 to the Amended and Restated Merger Agreement ("Amendment No. 3"), pursuant to which the date by which the Company shall make the Third Parent Equity Investment was extended to October 2, 2024, the amount of the Third Parent Equity Investment was reduced from $1.5 million to $720,000, and the amount of the Fourth Parent Equity Investment was increased from $1.5 million to $2.28 million.
On November 19, 2024, the Company, Merger Sub and Evofem entered into Amendment No. 4 to the Amended and Restated Merger Agreement ("Amendment No. 4"), pursuant to which the End Date (as defined under the Amended and Restated Merger Agreement) was extended from November 29, 2024 to January 31, 2025. Except as set forth herein, the terms and conditions of the Amended and Restated Merger Agreement have not been modified.
The foregoing description of Amendment No. 4 is not complete and is qualified in its entirety by reference to the full text of Amendment No. 4, a copy of which is filed as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated by reference herein.