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Applied Therapeutics Shares Letter to Stockholders Recommending Tender of Shares Following Offer Expiration Extension

APLT
  • Applied Therapeutics announced an extension of the tender offer by Purchaser (AT2B, Inc., a subsidiary of Cycle Group Holdings Limited) until 11:59 p.m. Eastern Time on January 29, 2026.
  • The offer price consists of $0.088 per share in cash plus one non-tradeable contingent value right per share.
  • The Board of Directors unanimously recommends that stockholders tender their shares, stating the merger represents the best path forward to advance the therapy govorestat for rare diseases.
  • If the offer fails to receive the requisite number of shares, Applied Therapeutics faces liquidation, dissolution, and zero proceeds for stockholders.
  • Failure to complete the merger would trigger immediate repayment of an $8.5 million promissory note issued by Cycle at a 24% annual interest rate, which the Company cannot afford to repay.
  • The Board noted no alternative strategic proposals were received after signing the merger agreement on December 11, 2025, and warned that share prices may decline if the offer is not consummated.
  • Existing shareholders who previously tendered shares do not need to re-tender due to the offer extension.
  • Stockholders holding shares through brokers are instructed to contact their financial institutions to tender shares before the expiration deadline.
  • A "Guaranteed Delivery" option is available for shareholders unable to submit shares before the deadline if they follow procedures outlined in the tender offer materials.
  • Full tender offer documents are accessible via the Company's investor relations website, the SEC's EDGAR database, or by contacting Investor Relations.