AeroClean Technologies and Molekule Announce the Close of All-Stock Merger

Provided By Globe Newswire

Last update: Jan 12, 2023

PALM BEACH GARDENS, Fla., Jan. 12, 2023 (GLOBE NEWSWIRE) -- AeroClean Technologies (“AeroClean”) (Nasdaq: AERC), an air hygiene technology company, and Molekule, Inc. (“Molekule”), a market leader for premium air purifiers, today have successfully completed the all-stock merger transaction that was announced on October 3, 2022 (the “Merger”). Under the terms of the Merger, AeroClean stockholders now own approximately 50.5%, and Molekule stockholders own approximately 49.5%, of the outstanding shares of common stock of the combined company. Effective at 9:00 a.m. eastern time on January 12, 2023, AeroClean changed its name and ticker symbol to Molekule Group, Inc. (Nasdaq: MKUL).