Applied DNA and TheraCann International Sign Term Sheet to Amend Licensing and Cooperation Agreement
Applied DNA Sciences, Inc. (APDN)
Last applied dna sciences, inc. earnings: 8/10 04:05 pm
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Source: Business Wire
Amendments fortify the Agreement, allow revenue recognition, and strengthen the Applied DNA Balance Sheet STONY BROOK, N.Y.--(BUSINESS WIRE)--Applied DNA Sciences Inc. (NASDAQ: APDN) (“Applied DNA” or the “Company”), a leader in PCR-based (Polymerase Chain Reaction) DNA manufacturing for product authenticity and traceability solutions, today announced that the Company and TheraCann International Benchmark Corporation (“TheraCann”) have signed a non-binding term sheet (the “Term Sheet”) outlining agreed-upon amendments to the exclusive licensing and cooperation agreement signed March 28, 2019 between the parties (the “Agreement”). The Term Sheet is expected to be followed by definitive contractual amendments.Under the Term Sheet, the parties agreed to amend the Agreement to provide Applied DNA with $4M in TheraCann convertible preferred stock and a $1M convertible promissory note in exchange for Applied DNA’s waiver of $4M in cash payments due from TheraCann on or before August 15,
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APDN
News
- Applied DNA Announces Pricing of $6.5 Million Registered Direct Offering and Concurrent Private PlacementAccesswire
- Applied DNA to Participate in the 2024 Maxim Healthcare Virtual Summit on Wednesday, October 16 [Yahoo! Finance]Yahoo! Finance
- Applied DNA to Participate in the 2024 Maxim Healthcare Virtual Summit on Wednesday, October 16Accesswire
- Applied DNA Regains Compliance with Nasdaq Minimum Bid Price Requirement Accesswire
- Applied DNA Sciences, Inc. (NASDAQ: APDN) was upgraded by analysts at StockNews.com to a "sell" rating.MarketBeat
APDN
Earnings
- 8/8/24 - Beat
APDN
Sec Filings
- 10/31/24 - Form 424B5
- 10/31/24 - Form 8-K
- 10/2/24 - Form SC
- APDN's page on the SEC website