Impact BioMedical announces reverse merger with Dr Ashleys; shareholders to receive 4.80% of combined entity

IMPACT BIOMEDICAL INC.

Impact BioMedical (IBO) will merge with Dr Ashleys via a reverse merger; existing Impact shareholders receive 4.80% of the new PubCo's ordinary shares.
Dr Ashleys shareholders get 94.20% of PubCo; Dr Ashleys management will control the combined company's board and operations.
86.81% of Impact's shareholders (by as-converted shares) have signed a voting agreement to approve the deal.
Closing conditions include Impact having at least $10,000 net cash and zero net debt, and NYSE American listing approval.
The combined entity will be renamed Dr Ashleys Limited and continue trading on NYSE American under a new name.

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