WHEN majority holder to exchange 75% stake for 50% of Cuentas

WORLD HEALTH ENERGY HOLDINGS, INC.

UCG (75% shareholder) to transfer all WHEN shares to Cuentas for 50% of Cuentas fully diluted shares.
Deal subject to Nasdaq and Cuentas shareholder approval, SEC S-4 filing, independent appraisal, and Nasdaq equity extension.
Closing targeted by Dec 15, 2023; Cuentas board to expand to 9 members with 2 from UCG and 2 from Cuentas.
Giora Rozensweig (WHEN interim CEO) to become co-Executive Chairman of Cuentas; WHEN becomes majority-owned subsidiary.
Plan to integrate WHEN's cybersecurity and AI solutions into Cuentas mobile platform for underbanked and enterprise clients.

item 1.01 item 5.01 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

WORLD HEALTH ENERGY HOLDINGS, INC. entered into Term Sheet with Cuentas Inc. (effective 2023-10-16).

Action: entry
Counterparty: Cuentas Inc.
Effective: 2023-10-16

Exact text from the filing

On October 16, 2023, UCG, Inc. (“UCG”), the holder of approximately 75% of the issued and outstanding shares of World Health Energy Holdings, Inc. (OTC:WHEN) (the “Company”), executed and delivered a binding term sheet (the “Term Sheet”) with Cuentas Inc. (“Cuentas”), a company currently listed on The Nasdaq Stock Market LLC.

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WORLD HEALTH ENERGY HOLDINGS, INC. filing history →

Source: SEC EDGAR

accession 0001493152-23-037804

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