Item 7.01. Regulation FD Disclosure.
On November 1, 2022, PolarityTE, Inc. (the "Company") received an unsolicited,
non-binding offer (followed by an amended offer on November 8, 2022) from
Michael Brauser to acquire all of the outstanding common stock of the Company
not owned by them for $1.25 per share in cash. The offer is subject to various
contingencies, including, among others, (1) settlement with warrant holders and
satisfactory negotiations with insiders with change of control agreements, (2)
minimum tender conditions, (3) a sixty-day due diligence period, and (4)
satisfaction of other conditions and requirements that may arise, which are
commonplace in transactions of this nature. The Board of Directors and a special
committee formed by the Board of Directors will carefully review the terms and
conditions of the offer to determine the course of action that it believes is in
the best interest of the Company and all Company securityholders. If the Board
of Directors determines to proceed with the offer, there can be no assurance
that all required contingencies will be satisfied and that a transaction will
result.
On November 9, 2022, the Company issued a press release confirming receipt of
the offer. A copy of the press release is furnished as Exhibit 99.1 to this
Current Report and is incorporated by reference herein.
The information included under Item 7.01 (including Exhibit 99.1) is furnished
pursuant to Item 7.01 and shall not be deemed "filed" for purposes of Section 18
of the Exchange Act of 1934, as amended ("Exchange Act"), or otherwise be
subject to the liabilities of that section, nor shall it be deemed to be
incorporated by reference in any filing under the Securities Act or the Exchange
Act, whether made before or after the date hereof and regardless of any general
incorporation language in such filing.
Item 9.01. Financial Statements and Exhibits
(d) Exhibits.
Exhibit No. Description
99.1 Press Release of PolarityTE, Inc., dated November 9, 2022
104 Cover Page Interactive Data File, formatted in Inline XBRL
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