Progressive Care (RXMD) has shared an announcement.
Progressive Care Inc. has entered into a significant merger with NextPlat Corp, marking a strategic business combination set to reshape their future in the healthcare industry. The merger, approved by a Special Committee to ensure fairness and independence due to overlapping management between the two entities, will result in Progressive Care merging into NextPlat’s subsidiary, with shareholders receiving new stock allocations. The move, which comes with a variety of customary representations, warranties, and pre-closing covenants, is subject to shareholder approval and other customary closing conditions, with the potential to be terminated under specific circumstances. This is a pivotal development for investors in both companies, promising a transformed market presence upon successful completion.
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