Apimeds settles merger dispute; Lokahi provides $4M working capital; board to transition

Apimeds Pharmaceuticals US, Inc.

Settlement resolves all disputes from Dec 2025 Merger Agreement; Lokahi retains Apitox program assets valued at ~$2.2M.
Lokahi provides $4M working capital to Company and forgives $750k advance; 51% of Lokahi stock to be distributed to Emerson.
Newco formed as wholly owned subsidiary, to be spun off within 12 months; 10% of net financing proceeds allocated to Newco.
Board changes: Stockholder Consents voided; Koo to resign; interim board of three; then three new independent directors appointed by Inscobee.
Forbearance Agreement with Alto Opportunity Master Fund extends forbearance on $11M note defaults through June 30, 2026, subject to conditions.

item 1.01 item 5.02 item 8.01 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Departed

Jakap Koo

Director

APUS · Apimeds Pharmaceuticals US, Inc.

Filed: May 4, 2026, 7:59 PM ET

Under the Settlement Agreement, the Inscobee Parties have agreed to secure the resignation or removal of Mr. Koo.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.7

Jakap Koo departed as Director at Apimeds Pharmaceuticals US, Inc..

Action: resignation
Role: Director

Exact text from the filing

Under the Settlement Agreement, the Inscobee Parties have agreed to secure the resignation or removal of Mr. Koo.

View on SEC.gov

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

Apimeds Pharmaceuticals US, Inc. entered into Confidential Settlement and Mutual Release Agreement with Inscobee Inc. and Apimeds Inc. (the Inscobee Parties) (effective 2026-04-24).

Action: entry
Agreement: settlement
Counterparty: Inscobee Inc. and Apimeds Inc. (the Inscobee Parties)
Effective: 2026-04-24

Exact text from the filing

On April 24, 2026, Apimeds Pharmaceuticals US, Inc., a Delaware corporation (the “ Company ”), MindWave Innovations Inc, a Delaware corporation and a wholly owned subsidiary of the Company (“ MindWave ”), and Lokahi Therapeutics, Inc., a Nevada corporation (“ Lokahi ” and, together with the Company and MindWave, the “ Company Parties ”), together with Erik Emerson (“ Emerson ”), individually and in his capacity as Bio Business Representative under the Agreement and Plan of Merger, dated December 1, 2025 (the “ Merger Agreement ”), entered into a Confidential Settlement and Mutual Release Agreement (the “ Settlement Agreement ”), with Inscobee Inc., a South Korean corporation (“ Inscobee ”), and Apimeds Inc., a South Korean corporation and wholly owned subsidiary of Inscobee (“ Apimeds Korea ”, together with Inscobee, the “ Inscobee Parties ”).

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281 material agreements filed in the last 30 days. Browse all material agreements →

Apimeds Pharmaceuticals US, Inc. filing history →

Source: SEC EDGAR

accession 0001213900-26-051125

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