Shalom Auerbach made an offer to acquire remaining 96.2% stake in AIkido Pharma Inc. (NasdaqCM:AIKI) for $40.4 million on August 9, 2022. Shalom Auerbach beneficially owning approximately 3.8% of its common stock of Aikido has sent a letter proposing to acquire the Company for $8.00 per share in cash. Shalom Auerbach able to fully fund the transaction using cash on hand and external financing, such that the transaction would not be contingent on obtaining financing. The transaction would be subject to the following conditions: (i) receipt of required Board and stockholder approvals; (ii) receipt of any required governmental and third-party approvals (including any required consents under material contracts); (iii) limited confirmatory due diligence; and (iv) the negotiation and execution of a definitive merger agreement containing terms and conditions customary for a transaction of this type and size.
Shalom Auerbach cancelled the acquisition of remaining 96.2% stake in AIkido Pharma Inc. (NasdaqCM:AIKI) on August 18, 2022. The board of AIkido reviewed and considered AuerbachÆs proposal, and on August 18, 2022, the CompanyÆs counsel delivered a letter to Auerbach informing him that the Board determined that it was not interested in pursuing the offer.