Apimeds Pharmaceuticals US completes merger with MindWave Innovations, issues 90.9% equity to MindWave holders

Apimeds Pharmaceuticals US, Inc.

• On Dec 1, 2025, Apimeds (APUS) merged with MindWave Innovations, with MindWave surviving as wholly owned subsidiary.
• MindWave stockholders received 29.9% of Apimeds common stock and 61% convertible preferred (as-converted), totaling 90.9% of post-merger equity.
• Apimeds entered a $120.9M convertible note financing with 8% OID, issuing senior convertible notes.
• CEO Erik Emerson resigned, replaced by Dr. Vin Menon; two new directors appointed.
• Apimeds will effect a 1-for-10 reverse stock split and increase equity plan shares to 2,096,679.