TRxADE HEALTH Rises Over 140% - What's Going On?
Portfolio Pulse from Nabaparna Bhattacharya
TRxADE HEALTH, Inc. (NASDAQ:MEDS) shares surged over 140% following the announcement of the sale of assets of its subsidiary Trxade, Inc. to Micro Merchant Systems (MMS) for $22.5 million. The deal includes a potential additional payment of $7.5 million to Trxade if MMS receives $1.6 million or more in certain collections from third parties within four months post-closing. The legal firm Dykema facilitated the transaction, which was completed in three weeks. TRxADE will retain pharmaceutical wholesaling assets through its subsidiary, Integra Pharma Solutions, LLC.
February 20, 2024 | 3:29 pm
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TRxADE HEALTH, Inc. (NASDAQ:MEDS) shares jumped over 140% due to the asset sale of its subsidiary to Micro Merchant Systems for $22.5 million, with a potential additional $7.5 million payment.
The significant rise in TRxADE HEALTH's stock price is directly attributed to the announcement of the asset sale, which is perceived positively by the market. The potential for an additional $7.5 million payment adds further optimism. The quick completion of the deal, facilitated by Dykema, likely also contributed to investor confidence.
CONFIDENCE 90
IMPORTANCE 95
RELEVANCE 100