---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-24-012316"
form_type: "8-K"
ticker: null
cik: "0001402945"
company_name: "Progressive Care Inc."
filed_at: "2024-04-17T23:59:59+00:00"
generated_at: "2026-06-03T21:36:05.290901+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.9
calibrated_materiality_score: 0.9
confidence: "high"
source: SEC EDGAR
---

# NextPlat to acquire Progressive Care at $2.20/share; exchange ratio ~1.49 NextPlat shares per Progressive share

## Summary
- NextPlat (NXPL) subsidiary will merge with Progressive Care (RXMD); shareholders receive NextPlat shares at $2.20 per Progressive share, based on $1.48 NextPlat 20-day VWAP.
- Transaction unanimously approved by both boards; special committees negotiated independently; expected to close Q3 2024 subject to stockholder and regulatory approvals.
- NextPlat already owns ~53% of Progressive Care voting stock; deal simplifies structure and expects cost reductions from eliminating public company expenses.
- Lock-up agreements signed with directors and officers of both companies during interim period, prohibiting stock sales.
- Merger Agreement includes customary representations and termination provisions, including if not closed by September 30, 2024.

## SEC filing metadata
- accession: 0001437749-24-012316
- form_type: 8-K
- cik: 0001402945
- company_name: Progressive Care Inc.
- filed_at: 2024-04-17T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.9
- calibrated_materiality_score: 0.9
- confidence: high
- sec_items: 1.01, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1402945/000143774924012316/0001437749-24-012316-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1402945/000143774924012316/rxmd20240417e_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-24-012316
- JSON: https://secwatch.observer/filing/0001437749-24-012316.json
- Plain text: https://secwatch.observer/filing/0001437749-24-012316.txt

## Key facts
- Material Agreements
  Progressive Care Inc. entered into Merger Agreement and Plan of Reorganization with NextPlat Corp (effective 2024-04-12).
  - Action: entry
  - Agreement: merger
  - Counterparty: NextPlat Corp
  - Effective: 2024-04-12
  source text: On April 12, 2024, Progressive Care Inc., a Delaware corporation (the “ Company ”) entered into a Merger Agreement and Plan of Reorganization (the “ Merger Agreement ”) with NextPlat Corp
  evidence_url: https://www.sec.gov/Archives/edgar/data/1402945/000143774924012316/0001437749-24-012316-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.