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Matinas BioPharma Announces Strategic Business Combination with GH Power to Create Publicly Traded, Advanced Clean Energy and Green Hydrogen Company; Signs Definitive Agreement to Sell LNC Platform Technology and Lead Product Candidate MAT2203 to Azurity Pharmaceuticals

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  • Matinas BioPharma Holdings entered a definitive business combination with GH Power to create GH Power International, a new NYSE-listed company focused on modular clean energy, green hydrogen, critical materials, & industrial decarbonization.
  • The combined entity will utilize GH Power's proprietary modular reactors to convert recycled metals & water into high-purity alumina, clean hydrogen, & thermal energy for North American & European markets.
  • Matinas will sell its subsidiary Matinas BioPharma Nanotechnologies, including the MAT2203 drug candidate & LNC technology platform, to Azurity Pharmaceuticals for $4.0 million upfront, plus up to $17.5 million in milestones & future mid-single-digit royalties.
  • Existing GH Power equityholders are expected to own approximately 91% of the new company, while existing Matinas equityholders will own approximately 9% post-closing.
  • Each Matinas common share will convert into 0.1 of a GHP International common share, with Matinas options & warrants assumed & converted under the agreement terms.
  • The transaction is expected to close in the fourth quarter of 2026, subject to regulatory approvals, stockholder consent, & a GH Power financing of at least $15.0 million.
  • Matinas completed a Series D PIPE financing raising $575,000 gross proceeds through the sale of convertible preferred stock & warrants.
  • Matinas executed a warrant inducement closing on July 10, 2026, generating approximately $2.6 million in gross proceeds from the immediate exercise of existing warrants.
  • Proceeds from both the PIPE & warrant inducement are intended for working capital & general corporate purposes.
  • The new GHP International board will consist of five directors, with four designated by GH Power & one by Matinas.