Aditxt, Inc. announced a private placement of a senior note in the aggregate principal amount of $986,379.68 to an accredited investor on May 24, 2024. The note will mature on August 22, 2024, which included the exchange of a previously issued senior note in the principal amount of $93,918.75. The company received cash proceeds of $775,000 from the sale of the notes.

Upon an event of default, the note will bear interest at a rate of 14% per annum and the holder shall have the right to require the company to redeem the note at a redemption premium of 125%. In addition, while the note is outstanding, the company is required to utilize 100% of the proceeds from any offering of securities to redeem the note. Pursuant to the purchase agreement, the company agreed to use commercially reasonable efforts, including the filing of a registration statement with the U.S. Securities and Exchange Commission for a public offering, to pursue and consummate a financing transaction within 90 days of the closing date.

In connection with the issuance of the notes, the company issued an aggregate of 328,468 shares of its common stock as a commitment fee to the investors.