Elite Health Systems commences $2M-$5M private placement; enters LOI to acquire PSS for 3.16M shares

Elite Health Systems Inc.

Private placement of common stock at $0.95/share for gross proceeds of $2M to $5M; proceeds to fund Elite Health Plan and PSS integration.
Non-binding LOI to acquire 100% of Physician Support Systems (PSS) for 3,158,000 shares; CEO Prasad Jeereddi owns 51% of PSS (related party).
Company seeks stockholder approval to increase authorized shares from 25M to 50M to support issuance; proxy statement to be filed.
Elite Health subsidiary conditionally approved by CMS for CY2026 Medicare Advantage plan; final approval pending bid and pre-implementation.

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