Today we announce that we have signed a definitive agreement to merge with AeroClean Technologies, Inc. (Nasdaq: AERC), a leading air hygiene technology company. The planned merger will unite two leading air purifier brands with a rigorous commitment to science-based technology. This deal underscores the increasing importance of access to clean indoor air for consumers and businesses. As air pollution awareness increases, and more employees return to offices, there is a big demand for indoor air quality services to ensure safer work environments, and together, we believe the combined company will be able to offer even more of this to the world.
As the world grapples with an escalating climate crisis and widespread airborne viruses, the challenge of purifying indoor air is more urgent than ever before. Consumers, government leaders, and business owners understand the urgency of this clean air crisis, yet still struggle to find science-backed solutions. We believe the merger between AeroClean and Molekule signals a new clean air revolution. AeroClean and Molekule have set a high standard in purifier testing, development, and performance—together, the combined brands will seek to complement and supplement each other to improve operational efficiency and increase educational efforts, while expanding clean air access.
The combined company will provide consumers and businesses with access to a broad range of premium, proprietary and patented, FDA-cleared air purifiers on the market. We believe the proposed merger will expedite opportunities for commercial synergies in the B2B space while deepening market penetration and expansion in the healthcare, government, hospitality and education verticals specifically. Furthermore, we believe the combined company will have the balance sheet, liquidity and access to capital to fuel organic growth and pursue additional, value-creating strategic acquisitions within the broader indoor air quality and cleantech space in the future.
So what does this mean for us?
We will be welcoming AeroClean into the Mo family. Their team is relatively small and compliments our business nicely. Operations will continue as usual leading up to the closing of the merger, and there will be a shift to the leadership team in connection with the closing. Upon closing of the proposed transaction, I will transition to Chief Commercial Officer (CCO) and Ronti will become the combined company’s Chief Operating Officer (COO), with AeroClean’s current CEO, Jason DiBona becoming the CEO of the new combined company. AeroClean’s CFO, Ryan Turner, will become our new CFO. I have had the pleasure of getting to know both Jason and Ryan in the recent months and can’t underscore enough how strongly positioned I believe they are to lead this business alongside Ronti and me.
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