Michael Brauser submitted a non-binding offer to acquire PolarityTE, Inc. (NasdaqCM:PTE) for $9.1 million on November 1, 2022. Michael Brauser signed a non-binding letter of intent to acquire PolarityTE, Inc. (NasdaqCM:PTE) for $7.7 million on December 27, 2022. As per the terms of the offer, Michael Brauser shall acquire all of the outstanding common stock of PolarityTE for $1.25 per share in cash. As per the terms of the transaction, Michael Brauser shall acquire all of the outstanding common stock of PolarityTE for $1.03 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) Brauser successfully acquiring a majority of the outstanding common stock of the Company, (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 transaction is subject to negotiation and execution of definitive transaction document. The Board of Directors of PolarityTE 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 PolarityTE and all PolarityTE securityholders.

Michael Brauser cancelled the acquisition of the remaining stake in PolarityTE, Inc. (NasdaqCM:PTE) on March 15, 2023.