Summary by Futu AI
Aditxt announced a 1-for-40 reverse stock split effective October 1, 2024, with trading on split-adjusted basis beginning October 2 on Nasdaq under symbol "ADTX". The split adjusts all outstanding stock options, restricted stock units, and warrants proportionately, with fractional shares rounded up to the next whole share.The company also modified its merger agreement with Evofem through Amendment No. 3, revising the investment schedule. The Third Parent Equity Investment was reduced to $720,000 due October 2, 2024, while the Fourth Parent Equity Investment was increased to $2.28 million. Previously, on September 18, 2024, Aditxt purchased 460 shares of Evofem's Series F-1 Convertible Preferred Stock for $460,000.Under the related Registration Rights Agreement, Evofem must file an SEC registration statement within 300 days for shares issuable upon conversion of the Series F-1 Preferred Stock, with effectiveness required within 90 days of closing or 2 business days after SEC notification of no review.