NEW YORK, April 30, 2020 /PRNewswire/ -- AIkido Pharma Inc. (Nasdaq: AIKI) ("AIkido" or the "Company") today announced a reminder to the Company's stockholders that today, April 30, 2020, is the record date for the previously announced distribution to our stockholders of shares of common stock of Hoth Therapeutics, Inc. ("Hoth"). Each stockholder of the Company, as of 4:00 p.m. Eastern Time on April 30, 2020, is entitled to receive one (1) share of Hoth common stock for every five hundred (500) shares of AIkido common stock held. The original ratio of seventy (70) shares was changed to reflect the increase in the number of Company shares issued and outstanding, as of today's record date. The Company expects to distribute the shares of Hoth common stock on May 4, 2020.
The Company will not distribute fractional shares of Hoth common stock, and any fractional shares will be rounded down to the nearest whole share. Stockholders of the Company do not need to take any action to receive the shares of Hoth common stock, other than be a stockholder of record on April 30, 2020, and stockholders do not need to pay any consideration for, surrender or exchange shares of AIkido common stock.
AIkido was initially formed in 1967 and is a biotechnology company with a diverse portfolio of small-molecule anti-cancer therapeutics. The Company's platform consists of patented technology from leading universities and researchers and we are currently in the process of developing an innovative therapeutic drug platform through strong partnerships with world renowned educational institutions, including The University of Texas at Austin and Wake Forest University. Our diverse pipeline of therapeutics includes therapies for pancreatic cancer, acute myeloid leukemia (AML) and acute lymphoblastic leukemia (ALL). In addition, we are constantly seeking to grow our pipeline to treat unmet medical needs in oncology
Certain statements in this press release constitute "forward-looking statements" within the meaning of the federal securities laws. Words such as "may," "might," "will," "should," "believe," "expect," "anticipate," "estimate," "continue," "predict," "forecast," "project," "plan," "intend" or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties, including without limitation those set forth in the Company's filings with the SEC, not limited to Risk Factors relating to its business contained therein. Thus, actual results could be materially different. The Company expressly disclaims any obligation to update or alter statements whether as a result of new information, future events or otherwise, except as required by law.