M&A
confidence high
sentiment neutral
materiality 0.95
HeartSciences to acquire Fortitude Mining; Fortitude holders to own ~95% of combined entity
HeartSciences Inc.
- Merger with Fortitude Mining (Zcash mining, owned by Digital Currency Group) signed; closing expected H2 2026.
- Post-merger, Fortitude equity holders to own ~95% of HeartSciences; current HSCS shareholders ~5%.
- New CEO Andrea Childs, CFO Erik Ellingson; board reconstituted with Fortitude designees.
- Fortitude contributes $2M cash or Zcash; new Class V voting stock (no economic rights) and Class A common issued.
- Support agreements from >50% of Series C preferred holders; termination fees: $2.5M (HSCS) / $6M (Fortitude).