TRxADE Health (NASDAQ: MEDS), a health-services IT company focused on digitalizing the retail pharmacy experience by optimizing drug procurement, the prescription journey and patient engagement in the United States, released an amended and restated merger agreement with Superlatus Inc. Superlatus is a U.S.-based holding company of food products and distribution capabilities. According to the announcement, the restated agreement notes that, upon the merger closing, Superlatus shareholders will receive 30,821,941 shares of MEDS stock at $7.30 per share. Those shares will be comprised of 136,441 shares of MEDS common stock, representing 19.99% of the total issued and outstanding MEDS common stock at the closing of the merger, combined with 306,855 shares of a new class of MEDS nonvoting convertible preferred stock. These shares will have a conversion ratio of 100 to 1, multiplied by such shareholder’s pro rata percentage ownership. In addition, one business day immediately prior to the closing date, TRxADE will issue to TRxADE shareholders as of the MEDS Rights Record Date, a nontransferable right to receive one share of MEDS common stock at no cost along with seven MEDS Rights issued per share of common stock of TRxADE held as of the MEDS Rights Record Date. This stipulation includes independent directors who are entitled to a certain amount of MEDS common stock in connection with their 2023 annual compensation and is regardless of whether the common stock has been issued or vested before the MEDS Rights Records Date.
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About TRxADE Health Inc.
TRxADE Health is a health services IT company focused on digitalizing the retail pharmacy experience by optimizing drug procurement, the prescription journey and patient engagement in the United States. The company operates the TRxADE drug-procurement marketplace serving more than 14,500 members nationwide, fostering price transparency and, under the Bonum Health brand, offering patient-centric telehealth services. For more information about the company, please visit www.TRxADE.com and www.BonumHealth.com.
NOTE TO INVESTORS: The latest news and updates relating to MEDS are available in the company’s newsroom at http://ibn.fm/MEDS
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