PolarityTE Announces Entry Into a Letter of Intent For Acquisition of the Company

SALT LAKE CITY, Dec. 27, 2022 /PRNewswire/ --  PolarityTE, Inc. (Nasdaq: PTE), a biotechnology company developing regenerative tissue products and biomaterials (the "Company"), today announced that it signed a non-binding letter of intent (the "LOI") with Michael Brauser ("Brauser") for him to make an offer to acquire 100% of the outstanding equity interests of the Company at a proposed offering price of $1.03 per common share, which would be paid entirely in cash. As of December 23, 2022, there were 7,256,786 shares of the Company's common stock outstanding and unvested restricted stock units covering an additional 256,457 common shares. 

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