PTE: Brauser Deal Dead, But Easter is Coming
Mar 20, 2023 12:46:51 GMT
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Post by icemandios on Mar 20, 2023 12:46:51 GMT
Item 8.01 Other Events
PolarityTE, Inc. (the “Company”), announced in December 2022 that it signed a non-binding letter of intent (the “LOI”) with Michael Brauser for him to make an offer to acquire 100% of the outstanding equity interests of the Company and that the parties would endeavor to negotiate the terms of definitive transaction documents by March 15, 2023. The parties were unable to complete negotiation and drafting of definitive documents by March 15, 2023, and the LOI terminated on March 15, 2023.
Even though the LOI terminated, new proposals for a potential transaction between the Company and Mr. Brauser are being evaluated, and the Company is also pursuing a process of evaluating its financial resources, product opportunities, and business plan with a view to advancing the interests of the Company’s stockholders.
PolarityTE, Inc. (the “Company”), announced in December 2022 that it signed a non-binding letter of intent (the “LOI”) with Michael Brauser for him to make an offer to acquire 100% of the outstanding equity interests of the Company and that the parties would endeavor to negotiate the terms of definitive transaction documents by March 15, 2023. The parties were unable to complete negotiation and drafting of definitive documents by March 15, 2023, and the LOI terminated on March 15, 2023.
Even though the LOI terminated, new proposals for a potential transaction between the Company and Mr. Brauser are being evaluated, and the Company is also pursuing a process of evaluating its financial resources, product opportunities, and business plan with a view to advancing the interests of the Company’s stockholders.