Salarius Pharmaceuticals Inc. has announced an update to its merger agreement with Decoy Therapeutics Inc. The company has entered into a Fourth Amendment to the Agreement and Plan of Merger to modify the conversion terms of its Series A and Series B Non-Voting Convertible Preferred Stock. This amendment aims to encourage consent and conversion by holders of certain convertible and non-convertible notes of Decoy. Key modifications include the removal of a $2 million threshold requirement for triggering a "subsequent financing," a change in the conversion price adjustment calculation to reflect the actual per share offering price in any future financing, and the elimination of the one-year limitation on adjustments to the conversion ratio. The adjustment will now apply until stockholder approval is obtained and applicable Nasdaq initial listing standards are met.
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