TRxADE HEALTH, Inc. Amends Definitive Merger Agreement With Superlatus, Inc.
Portfolio Pulse from Happy Mohamed
TRxADE HEALTH, Inc. (NASDAQ:MEDS) has amended its merger agreement with Superlatus, Inc. The new terms state that Superlatus shareholders will receive an aggregate of 30,821,941 shares of MEDS stock at $7.30 per share. This includes 136,441 shares of MEDS common stock and 306,855 shares of a new class of MEDS non-voting convertible preferred stock. Additionally, TRxADE will issue MEDS Rights to its shareholders, including independent directors, entitling them to one share of MEDS common stock at no cost.
July 14, 2023 | 8:32 pm
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The amended merger agreement could potentially dilute the value of MEDS shares due to the issuance of new shares to Superlatus shareholders and MEDS Rights to TRxADE shareholders.
The issuance of new shares to Superlatus shareholders and MEDS Rights to TRxADE shareholders could increase the supply of MEDS shares in the market. This could potentially dilute the value of existing shares if the demand does not increase proportionally.
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