Wellgistics Health enters binding term sheet for DelivMeds AI; announces 1-for-50 reverse stock split

Wellgistics Health, Inc.

Binding term sheet with Datavault AI (DVLT), Scilex (SCLX) and others to form DelivMeds AI; combined asset value expected $4B (subject to fairness opinion).
Existing public stockholders projected to retain ~10.4% of common post-conversion; new parties to own ~89.6% via convertible preferred.
Wellgistics to acquire QOLPOM biometric IP from EOS/SCLX, expand PharmacyChain license to HaaS, and acquire controlling stake in Tollo Health (Health Lives Here).
1-for-50 reverse stock split effective May 26, 2026 to regain Nasdaq minimum bid compliance; shares reduce from ~125.7M to ~2.5M.
Note purchase agreement amended: principal increased to $1.5M with additional $200K funding; Gerald Commissiong appointed Interim Co-CEO.

item 1.01 item 2.03 item 3.02 item 3.03 item 5.03 item 5.02 item 9.01

Executive movements

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Appointed (interim)

Gerald Commissiong

Interim Co-Chief Executive Officer

WGRX · Wellgistics Health, Inc.

Effective: 2026-05-20
Filed: May 21, 2026, 6:51 AM ET

On May 20, 2026, in connection with the Term Sheet described in Item 1.01 of this Current Report on Form 8-K, the Board of Directors of Wellgistics Health, Inc. (the “Company”) appointed Gerald Commissiong as Interim Co-Chief Executive Officer of the Company, effective immediately.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 1.0

Gerald Commissiong was appointed as Interim Co-Chief Executive Officer at Wellgistics Health, Inc..

Action: appointed
Role: Interim Co-Chief Executive Officer

Exact text from the filing

On May 20, 2026, in connection with the Term Sheet described in Item 1.01 of this Current Report on Form 8-K, the Board of Directors of Wellgistics Health, Inc. (the “Company”) appointed Gerald Commissiong as Interim Co-Chief Executive Officer of the Company, effective immediately.

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Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

Wellgistics Health, Inc.: Certificate of Amendment to effect a 1-for-50 reverse stock split of common stock (effective 2025-05-26).

Change: charter amendment
Effective: 2025-05-26

Exact text from the filing

On May 20, 2025, the Company filed with the Secretary of State of the State of Delaware the Certificate of Amendment to its Amended and Restated Certificate of Incorporation (the “Certificate of Amendment”) to effect the Reverse Stock Split.

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.4

Wellgistics Health, Inc. entered into Fully Binding Letter of Intent with EOS Technology Holdings, Inc., Scilex Holding Company / Scilex Holdings, Inc., Datavault AI, Inc., HealthBridge Advisors, LLC, and Fortitude Advisors, LLC (effective 2026-05-20).

Action: entry
Counterparty: EOS Technology Holdings, Inc., Scilex Holding Company / Scilex Holdings, Inc., Datavault AI, Inc., HealthBridge Advisors, LLC, and Fortitude Advisors, LLC
Effective: 2026-05-20

Exact text from the filing

On May 20, 2026, Wellgistics Health, Inc. (the “Company”) entered into a Fully Binding Letter of Intent, dated May 20, 2026 (the “Term Sheet”), with EOS Technology Holdings, Inc. (“EOS”), Scilex Holding Company / Scilex Holdings, Inc. (“SCLX”), Datavault AI, Inc. (“Datavault”), HealthBridge Advisors, LLC (“HBA”), and Fortitude Advisors, LLC (“Fortitude”).

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

Wellgistics Health, Inc. amended Amendment No. 1 to Note Purchase Agreement with Robert Forster valued at $1,500,000 (effective 2026-05-19).

Action: amendment
Agreement: notes offering
Counterparty: Robert Forster
Value: $1,500,000
Effective: 2026-05-19

Exact text from the filing

On May 19, 2026, Wellgistics Health, Inc. (the “Company”) entered into an Amendment No. 1 to Note Purchase Agreement (the “Amendment”) with Robert Forster (the “Investor”), which amended that certain Note Purchase Agreement, dated as of April 1, 2026, by and between the Company and the Investor.

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27 governance changes filed in the last 30 days. Browse all governance changes →

Wellgistics Health, Inc. filing history →

Source: SEC EDGAR

accession 0001493152-26-024723

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