2023-06-30 12:16:06 ET
- Superlatus has signed a definitive agreement to be acquired by TRxADE HEALTH ( NASDAQ: MEDS ), a pharmaceutical exchange platform provider.
- Upon closing of the Merger, shareholders of Superlatus will receive an aggregate of 173,463 shares of MEDS stock, which will be comprised of 136,436 shares of MEDS common stock, representing 19.99% of the total issued.
- And, also the outstanding MEDS common stock at the closing of the Merger, and 37,027 shares of a new class of MEDS non-voting convertible preferred stock with a conversion ratio of 100 to one, multiplied by such shareholder’s pro rata percentage ownership.
- In addition, MEDS plans to divest its existing operating business and assets shortly after the Merger.
- The global health snack food market was $90.6B in 2022 and is expected to reach $152.5B by 2030 a CAGR of 6.6% year-over-year driven by the increasing number of health-conscious consumers and the increasing development in the supply chain of products.
For further details see:
Trxade Health, Superlatus sign definitive merger agreement