NexImmune's (NEXI) Board Approves Liquidation and Dissolution

On November 2, 2023, the Board of Directors (the “Board”) of NexImmune (NASDAQ: NEXI) unanimously approved the liquidation and wind up of the Company through a dissolution pursuant to a plan of liquidation and dissolution, subject to stockholder approval, while continuing to pursue alternatives intended to maximize the value of the business and its assets. The Company intends to call a special meeting of the stockholders to seek approval of the plan of dissolution and will file proxy materials relating to the special meeting with the Securities and Exchange Commission as soon as practicable.

On October 31, 2023, the Board also approved a reduction-in-force of substantially all of the Company’s employees, other than key members of management necessary to implement the wind up and support the efforts to maximize the value of the business and its assets. The Company is unable at this time to determine an estimate of the total amount or range of amounts expected to be incurred in connection with the reduction-in-force, but shall file an amendment to this report on Form 8-K within four business days after it makes such a determination. The Company expects that the implementation of the reduction-in-force will be substantially complete in November 2023.

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