According to the 15-minute chart for N2OFF, a KDJ Death Cross and Bearish Marubozu pattern was observed on October 1, 2025 at 12:00. This indicates a shift in momentum towards the downside, with a potential for further price decreases. Sellers are currently in control of the market, and bearish momentum is likely to continue.
N2OFF, Inc. (NASDAQ: NITO), a cleantech company focused on solar energy assets, has received approval from its stockholders to acquire MitoCareX Bio Ltd., a biotech firm specializing in cancer therapeutics through mitochondrial protein targeting. The acquisition aims to enhance N2OFF's investment portfolio and enter the lucrative cancer therapeutics market, which is projected to grow from $194.1 billion in 2024 to $344.1 billion by 2031
N2OFF, Inc. Stockholders Approve Acquisition of MitoCareX Bio Ltd.[1].
The acquisition involves N2OFF purchasing shares from existing stakeholders for $700,000 and exchanging additional shares for ownership stakes, ultimately positioning MitoCareX as a wholly owned subsidiary. The agreement includes provisions for milestone-based stock issuances and a commitment from N2OFF to support MitoCareX financially for the first two years post-acquisition. The transaction is expected to close in October 2025, pending final conditions
N2OFF, Inc. Stockholders Approve Acquisition of MitoCareX Bio Ltd.[1].
The approval of the acquisition demonstrates shareholder confidence in N2OFF's strategic direction and growth prospects. However, the acquisition includes terms that may dilute existing shareholders, as the sellers will be entitled to 30% of N2OFF's financing proceeds and milestone-based issuances of up to 25% of common stock. Additionally, the press release reveals a potential conflict of interest, as key individuals from N2OFF are also involved with SciSparc, raising concerns about governance and decision-making transparency regarding the acquisition
N2OFF, Inc. Stockholders Approve Acquisition of MitoCareX Bio Ltd.[1].
N2OFF's commitment to financially support MitoCareX with an initial cash investment of $1,000,000 and ongoing operations support increases the company's financial obligations, which may affect its capital allocation and operational focus
N2OFF, Inc. Stockholders Approve Acquisition of MitoCareX Bio Ltd.[1].
The 15-minute chart for N2OFF on October 1, 2025, at 12:00, indicated a KDJ Death Cross and Bearish Marubozu pattern, suggesting a shift in momentum towards the downside. Sellers are currently in control of the market, and bearish momentum is likely to continue .
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