COSM - Cosmos stock dips amid revised terms for ZipDoctor deal review on trading patterns

Cosmos Health ( NASDAQ: COSM ) said on Friday that it extended and updated its agreement to acquire ZipDoctor from American International Holdings ( OTCQB:AMIH ).

Cosmos noted that it successfully renegotiated the acquisition price of ZipDoctor to achieve improved payment terms.

The updated letter of intent will remain effective until Feb. 15, according to the company.

Drug distributor Cosmos had signed a non-binding letter of intent to acquire subscription-based telemedicine platform ZipDoctor, a unit of AMIH, in September 2022.

"Furthermore, we intend to expand on ZipDoctor's current primary care and mental health service offerings to include the ability to speak to a doctor to seek additional medical treatments related to and including men's and women's health and wellness issues, weight loss and other similar treatments. Furthermore, we are satisfied with the renegotiated price of the acquisition, as we are always looking to increase our returns on investment," said Cosmos CEO Greg Siokas.

In addition, Cosmos provided an update on its ongoing review of COSM trading patterns.

The company said that it recently received trading activity data from Shareholder Intelligence Services and the management was reviewing the data to develop its next course of action.

COSM -11.63% to $4.71 premarket Jan. 23

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