secwatch.observer — SEC 8-K summary
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Issuer:     NextPlat Corp (NXPL)
CIK:        0001058307
Form:       8-K
Filed at:   2023-09-11T23:59:59+00:00
Accession:  0001437749-23-025597
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.85
Item codes: 2.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

NextPlat Corp acquires majority control of Progressive Care (RXMD) via warrant exercises and voting agreement
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- NextPlat exercised cashless warrants for 402,269 shares and cash warrants for 230,000 shares ($506,000 paid).
- Charles Fernandez (Chairman/CEO) exercised cashless warrants for 211,470 shares; Rodney Barreto for 130,571 shares.
- Aggregate holdings of NextPlat, Fernandez, and Barreto now represent 53% of Progressive Care's outstanding common stock.
- A perpetual voting agreement ensures NextPlat controls >50% of voting interests, effective July 1, 2023.
- Audited financials of Progressive Care (FY2022 and FY2021) and pro forma combined statements filed as exhibits.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1058307/000143774923025597/0001437749-23-025597-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1058307/000143774923025597/nxpl20230818_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-23-025597

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