Aditxt Inc. (NASDAQ:ADTX) experienced a significant surge of 52.11% in after-hours trading on Tuesday, reaching a price of $2.16. This dramatic increase follows the company’s filing of a definitive proxy statement regarding a special stockholder virtual meeting scheduled for January 30, 2026.
Key Proposals for Shareholder Approval
The proxy statement details several important proposals that require the approval of shareholders. According to the filing with the Securities and Exchange Commission dated Tuesday, stockholders on record as of December 5, 2023, will vote on compliance with Nasdaq Marketplace Rule 5635(d). This rule mandates that shareholder approval is necessary for issuances exceeding 20% of the outstanding shares at prices below market value.
The proposals include the issuance of common stock linked to Series A-1 Convertible Preferred Stock from December 2023, Series C-1 Convertible Preferred Stock and warrants from May and August 2024, and common stock purchase warrants from July 2024.
Aditxt is also seeking approval for its 2025 Employee Stock Purchase Plan, which would enable employees to acquire company stock at a discount through payroll deductions. Additionally, the company proposes an amendment to the 2021 Omnibus Equity Incentive Plan, which involves increasing the number of shares available for stock options and equity awards from 3 to 350,000.
Strategic Initiatives and Market Performance
The board of directors is requesting discretionary authority to implement a reverse stock split at a ratio between 1-for-5 and 1-for-250, with the precise ratio to be determined after shareholder approval. Furthermore, stockholders will have the chance to cast a non-binding advisory vote on a proposed name change from “Aditxt, Inc.” to “bitXbio, Inc.”
Kingsdale Advisors will act as the strategic stockholder advisor and proxy solicitation agent for this meeting.
Despite the positive movement in after-hours trading, Aditxt’s stock has seen a sharp decline of 99.97% year-to-date. The California-based biotech company currently holds a market capitalization of approximately $794,410. On Tuesday, Aditxt shares closed down 1.39% at $1.42, according to data from Benzinga Pro.
This significant fluctuation in Aditxt’s stock price highlights the ongoing volatility within the biotechnology sector, as investors react to developments related to corporate governance and potential strategic initiatives.
