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N2OFF Stockholders Approve Merger with Drug Discovery Company
NITO
M&A
Proxy Vote Outcomes
New Projects/Investments
- N2OFF, Inc. (NITO) stockholders approved the acquisition of MitoCareX Bio Ltd., a biotech company focused on drug discovery for cancer therapeutics, at a special meeting on September 25, 2025.
- The acquisition involves N2OFF purchasing 6,622 shares for $700,000 and issuing common stock equivalent to 40% of its fully diluted capital to the sellers, with an additional commitment of a $1,000,000 initial cash investment to MitoCareX.
- This acquisition represents a strategic shift for N2OFF, previously a cleantech company, into the drug discovery market.
- Separately, a 1-for-35 reverse stock split was effected on September 22, 2025, and stockholders also approved a proposal for the board to effect another reverse stock split within a range of 1-for-2 to 1-for-150.
Sep 25, 2025, 8:30 PM
N2OFF Announces Reverse Stock Split
NITO
Delisting/Listing Issues
Proxy Vote Outcomes
- N2OFF, Inc. (NITO) announced a 1-for-35 reverse stock split of its common stock, scheduled to become effective for Nasdaq purposes on September 22, 2025.
- The primary objective of the split is to increase the per share price and bid price to regain compliance with Nasdaq's continued listing requirements and attract institutional investors.
- Following the reverse stock split, the number of outstanding shares will be reduced from approximately 33 million to approximately 953 thousand.
Sep 18, 2025, 1:39 PM
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