TRxADE Health signs binding LOI to acquire Superlatus, pivoting to food technology

Scienture Holdings, Inc.

Superlatus shareholders receive 30,821,918 MEDS shares valued at $7.30 per share, comprising 19.99% of post-merger common stock and remainder in non-voting preferred.
Merger conditions include Superlatus acquiring Sapientia and Prestige Farms; combined valuation target of at least $225M.
TRxADE plans to divest its existing pharmaceutical exchange business after closing.
Expected close in late Q3 or early Q4 2023, subject to due diligence, audited financials, Nasdaq approval.
Board of both companies unanimously approved LOI.

item 1.01 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

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

Scienture Holdings, Inc. entered into LOI with Superlatus, Inc. (effective 2023-06-22).

Action: entry
Agreement: merger
Counterparty: Superlatus, Inc.
Effective: 2023-06-22

Exact text from the filing

On June 22, 2023, TRxADE HEALTH, INC. (the "Company") entered into a binding letter of intent ("LOI") for a merger (the "Merger") with Superlatus, Inc., a U.S.-based holding company of food products and distribution capabilities ("Superlatus").

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Scienture Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0001493152-23-022184

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