Citius Oncology, Inc. signed the letter of intent to acquire TenX Keane Acquisition (NasdaqGM:TENK) from 10XYZ Holdings LP and others in a reverse merger transaction on May 16, 2023. Citius Oncology, Inc. entered into an agreement and plan of merger to acquire TenX Keane Acquisition from 10XYZ Holdings LP and others for approximately $730 million in a reverse merger transaction on October 23, 2023. Combined public company will be named Citius Oncology, Inc. Upon closing, pursuant to the terms of the merger agreement, Citius Pharma would receive 67.5 million shares in the combined company and retain majority ownership of approximately 90% and TenX expected to own approximately 10% of Citius Oncology. Myron Holubiak will serve as Executive Vice Chairman of the Citius Oncology Board of Directors. In case of termination under certain circumstances, Citius Pharma to pay a $5,000,000 Termination Fee to TenX.

Transaction is subject to approval by stockholders of TenX; all requisite regulatory approvals, including under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 and the rules and regulations promulgated thereunder, have been obtained and remain in full force and effect and all statutory waiting periods in respect thereof have expired or been terminated; the registration statement and proxy statement/prospectus becoming effective under the Securities Act of 1933, as amended; TenX having at least $5,000,001 in net tangible assets and other customary closing conditions. The transaction has been unanimously approved by the Board of Directors of both companies. Citius Pharma, as the sole holder of Citius Oncology common stock, has approved the transaction. Transaction is expected to close in the first half of 2024.

Maxim Group LLC is acting as exclusive financial advisor to Citius Pharma and Newbridge Securities Corporation is acting as exclusive financial advisor to TenX. David Creekman and Alec Donaldson of Wyrick Robbins Yates & Ponton LLP acting as legal advisors to Citius Pharma. Tammara Fort and Samara Thomas of The Crone Law Group P.C. acting as legal advisors to TenX. American Stock Transfer & Trust Company, LLC is acting as exchange agent for TenX. As part of the merger, TenX will issue $500,000 in shares at $10.00 per share (50,000 shares) to Newbridge Securities Corporation (?Newbridge?) as payment of its financial advisory fee. D.F. King & Co., Inc acted as proxy solicitor to TenX and TenX has agreed to pay a fee of $25,000, plus fees and expenses. Marcum LLP acted as auditor to TenX. Revere Securities acted as financial advisor and fairness opinion provider to TenX.