Pulmatrix, Inc.

Pulmatrix, Inc. is a biopharmaceutical company incorporated in Delaware in 2013. The company focuses on developing new inhaled therapeutic products to prevent and treat migraine and respiratory diseases where current treatments are insufficient. These products utilize Pulmatrix's patented iSPERSE technology, a proprietary dry powder delivery platform. The iSPERSE platform is designed to deliver small, dense particles that disperse efficiently and reach the airways effectively. This technology is compatible with various dry powder inhaler technologies and can be formulated with a range of drug substances. On November 13, 2024, Pulmatrix entered into a Merger Agreement with Cullgen Inc., a Delaware corporation, which was amended on April 7, 2025. Under this agreement, PCL Merger Sub, Inc., a wholly owned subsidiary of Pulmatrix, will merge with Cullgen, with Cullgen continuing as a wholly owned subsidiary of Pulmatrix. Before the merger closes, Pulmatrix expects to issue a cash dividend to its pre-merger stockholders. This dividend will be the amount by which Pulmatrix's net cash, as defined in the Merger Agreement, exceeds $2.5 million, subject to certain adjustments and limitations.