2023-07-14 17:06:25 ET
- TRxADE HEALTH ( NASDAQ: MEDS ) on Friday said it had amended and restated its merger agreement with Superlatus, a U.S.-based holding company of food products and distribution capabilities.
- The parties entered into the original merger agreement on June 30.
- "As restated, upon closing of the merger, shareholders of Superlatus will receive an aggregate of 30,821,941 shares of MEDS stock at $7.30 per share," MEDS said in a statement .
- The MEDS shares will be which will be comprised of 136,441 shares of MEDS common stock and 306,855 shares of a new class of MEDS non-voting convertible preferred stock with a conversion ratio of 100 to one.
- A further amendment provides that, effective one business day immediately prior to the rights record date, MEDS shareholders will get a non-transferrable right to receive one share of MEDS common stock at no cost.
- TRxADE HEALTH ( MEDS ) stock was down 2.3% to $10.22 after hours.
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TRxADE HEALTH amends merger agreement with Superlatus