Healthtech Solutions, Inc./UT: M&A transaction — Healthtech sells patents ($5M) and World Reach units ($25M); CEO replaced

Healthtech Solutions, Inc./UT

Sold one patent and four applications to Papyrus Therapeutic for $5M cash; perpetual license back to HTWC for wound care products.
Sold 100% of World Reach Holdings to Papyrus Distribution for $25M base price, with $10M deferred via promissory notes.
CEO and director Jelena Olmstead resigned effective June 6, 2025; James Pesoli appointed CEO.
Transactions involved related parties (Pesoli and Olmstead had conflicting interests; approved by uninterested directors).
Patent license grants HTWC perpetual, worldwide, non-exclusive right to manufacture DermaBind products with monthly royalties.

item 1.01 item 2.01 item 5.02 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Role change

James Pesoli

Chief Executive Officer

Healthtech Solutions, Inc./UT

Effective: 2025-06-06
Filed: June 13, 2025, 7:59 PM ET

James Pesoli, the president and a director of the Company, was appointed as the chief executive officer of the Company.

Departed

Jelena Olmstead

Chief Executive Officer and Director

Healthtech Solutions, Inc./UT

Effective: 2025-06-06
Successor: James Pesoli
Filed: June 13, 2025, 7:59 PM ET

Jelena Olmstead, who served as chief executive officer and a director of the Company, resigned as a director, officer and employee of the Company and HTWC.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

James Pesoli was appointed as Chief Executive Officer at Healthtech Solutions, Inc./UT.

Action: appointed
Role: Chief Executive Officer

Exact text from the filing

James Pesoli, the president and a director of the Company, was appointed as the chief executive officer of the Company.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Jelena Olmstead resigned as Chief Executive Officer and Director at Healthtech Solutions, Inc./UT.

Action: resigned
Role: Chief Executive Officer and Director

Exact text from the filing

Jelena Olmstead, who served as chief executive officer and a director of the Company, resigned as a director, officer and employee of the Company and HTWC.

View on SEC.gov

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.95

Healthtech Solutions, Inc./UT completed a disposition involving Papyrus Distribution LLC for base purchase price equal to $25,000,000, subject to adjustment, with $10,000,000 deferred and payable via secured promissory notes (closed 2025-06-06).

Action: disposition
Counterparty: Papyrus Distribution LLC
Consideration: base purchase price equal to $25,000,000, subject to adjustment, with $10,000,000 deferred and payable via secured promissory notes
Closing: 2025-06-06

Exact text from the filing

the sellers sold to Papyrus Distribution 100% of the issued and outstanding equity interests of WR Holdings for a base purchase price equal to $25,000,000.

View on SEC.gov

31 m&a transactions filed in the last 30 days. Browse all m&a transactions →

Source: SEC EDGAR

accession 0001829126-25-004487

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