Enhanced Group completes de-SPAC merger with Enhanced Ltd; redemptions of $201.7M

Enhanced Group Inc.

Business Combination closed May 7, 2026; A Paradise domesticated to Texas and merged with Enhanced Ltd.
19.6M shares redeemed at ~$10.28 each ($201.7M); only ~$4M remains in trust post-close.
Post-close equity: 122.2M Class A common, 258.8M Class B common (10 votes each) plus options/warrants.
SAFE private placement of $40M converted into 4.0M Class A shares; SAFE warrants for 2.0M shares at $10.
Working capital note with Apeiron for up to $20M at 5% due 2027; insider lock-up extended to 12 months.

item 1.01 item 2.01 item 5.06 item 3.02 item 9.01 item 4.01 item 3.01 item 3.03 item 5.01 item 5.02 item 5.03 item 5.05 item 7.01

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Source: SEC EDGAR

accession 0001628280-26-032558

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