USNU acquires remaining 15% of subsidiary USN, issuing 1.39M shares in share exchange

Elite Health Systems Inc.

USNU issued 1,392,739 new shares to minority holders of USN, making USN a wholly-owned subsidiary.
Minority holders were former shareholders of Elite Health Plan acquired in Oct 2021; exchange provides public market access.
Post-exchange, USNU has 9,284,924 shares outstanding.
Elite Health plans to operate Medicare Advantage plans in Nevada and California, but licensing and capital needed.
Elite Health currently has no revenues; will need to raise capital to support licensing and network building.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Elite Health Systems Inc. entered into Share Exchange Agreement with holders of minority interests in U.S. NeuroSurgical, Inc. valued at 1,392,739 newly-issued shares of USNU common stock, representing 15% of the Company's outstanding co (effective 2023-11-27).

Action: entry
Agreement: equity purchase
Counterparty: holders of minority interests in U.S. NeuroSurgical, Inc.
Value: 1,392,739 newly-issued shares of USNU common stock, representing 15% of the Company's outstanding co
Effective: 2023-11-27

Exact text from the filing

U.S. NeuroSurgical Holdings, Inc. (“USNU” or the “Company”), entered into a Share Exchange Agreement dated as of November 27, 2023 (the “Share Exchange Agreement”) with the holders of minority interests in U.S. NeuroSurgical, Inc. (“USN”), which resulted in making USN a wholly-owned subsidiary of the Company.

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Elite Health Systems Inc. filing history →

Source: SEC EDGAR

accession 0001140361-23-054994

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