---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-26-024723"
form_type: "8-K"
ticker: "WGRX"
cik: "0002030763"
company_name: "Wellgistics Health, Inc."
filed_at: "2026-05-21T10:51:51+00:00"
generated_at: "2026-05-21T10:58:55.403206+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "medium"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001493152-26-024723
- form_type: 8-K
- ticker: WGRX
- cik: 0002030763
- company_name: Wellgistics Health, Inc.
- filed_at: 2026-05-21T10:51:51+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: medium
- sec_items: 1.01, 2.03, 3.02, 3.03, 5.03, 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/2030763/000149315226024723/0001493152-26-024723-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/2030763/000149315226024723/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-26-024723
- JSON: https://secwatch.observer/filing/0001493152-26-024723.json
- Plain text: https://secwatch.observer/filing/0001493152-26-024723.txt

## Source-grounded claims
- claim_id: 0595960505
  claim: Gerald Commissiong was appointed as Interim Co-Chief Executive Officer at Wellgistics Health, Inc..
  evidence_excerpt: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/2030763/000149315226024723/0001493152-26-024723-index.htm
- claim_id: f492c9abc600ba21be09bc0ff8e9d6be79f751a9
  claim: Wellgistics Health, Inc.: Certificate of Amendment to effect a 1-for-50 reverse stock split of common stock (effective 2025-05-26).
  evidence_excerpt: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/2030763/000149315226024723/0001493152-26-024723-index.htm

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