Table of Content UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 20-F o REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR x ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Fiscal Year Ended December 31, 2023 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to ___________ OR o SHELL COMPANY REPORT PURSU ...

Analyst's Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article. Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or ...

Core Viewpoint - Procaps Group, S.A. has received a notice from Nasdaq regarding the delisting of its ordinary shares due to non-compliance with financial reporting requirements, leading to a transition to the OTC Expert Market starting February 4, 2025 [1][2]. Company Overview - Procaps is a leading integrated healthcare and pharmaceutical services company in Latin America, operating in over 50 countries and employing nearly 5,000 people [3]. - The company develops, manufactures, and markets a range of products including over-the-counter pharmaceuticals, prescription drugs, nutritional supplements, and clinical solutions [3].

Core Points - Procaps Group, a leading integrated LatAm healthcare and pharmaceutical services company, received a notice from Nasdaq regarding an additional filing delinquency related to its interim financial statements for the period ended June 30, 2024 [1][2] - The interim financial statements were due by December 31, 2024, but were not filed due to delays in the filing of the Company’s Form 20-F for the fiscal year ended December 31, 2023, violating Nasdaq Listing Rule 5250(c)(2) [2] - The Nasdaq Hearings Panel will consider this delinquency in its deliberations regarding Procaps' request for continued listing on Nasdaq, and the Company plans to respond and present its compliance plan at the upcoming hearing [3] Company Overview - Procaps Group is a prominent developer of pharmaceutical and nutraceutical solutions, medicines, and hospital supplies, operating in over 50 countries across all five continents [4] - The Company has a direct presence in 13 countries in the Americas and employs nearly 5,000 individuals under a sustainable model [4] - Procaps develops, manufactures, and markets a range of products including over-the-counter (OTC) pharmaceutical products, prescription drugs (Rx), nutritional supplements, and high-potency clinical solutions [4]

Core Insights - Procaps Group, a leading integrated LatAm healthcare and pharmaceutical services company, announced significant outcomes from its recent Shareholders Meeting and Board of Directors meeting, including changes to Board composition, restructuring of Board committees, and updates to its executive leadership team [1][7] Board Composition and Committees - The Board of Directors has undergone changes with the resignation of Mr. David Yanovich, and new members have been elected, including Alejandro Weinstein, José Minski, Alberto Eguiguren, Nicolas Weinstein, Ernesto Carrizosa, and Jose Frugone [2][11] - The Audit, Compensation, Mergers & Acquisitions, and Nominating Committees have been restructured with new members and chairpersons appointed [3][4] - A new Commercial, Innovation, and Marketing Committee has been established to enhance collaboration between Board members and management, focusing on innovation and commercial strategies [5] Executive Leadership Updates - An Interim CFO has been appointed to oversee the financial restatement process and ensure compliance with financial reporting for 2023 and 2024 [6] - Patricio Vargas will transition to the role of Chief Optimization and Rationalization Officer, focusing on the company's turnaround strategy and M&A initiatives [12] - Melissa Angelini has been appointed as Interim Vice President of Finance to manage corporate financial operations and maintain strategic alignment during the transition [13] Company Mission and Market Position - Procaps Group remains committed to improving health and well-being through innovative pharmaceutical and healthcare solutions, positioning itself for success in key markets [8][9]

MIAMI and BARRANQUILLA, Colombia , Dec. 03, 2024 (GLOBE NEWSWIRE) -- Procaps Group, S.A. (NASDAQ: PROC) (“Procaps” or the “Company”), a leading integrated LatAm healthcare and pharmaceutical services company, today announced the successful execution of key strategic transactions and governance updates aimed at strengthening its financial position and supporting long-term growth objectives. On November 29, 2024, the Company entered into a Secured Convertible Note Subscription Agreement with Hoche Partners Ph ...

Core Points - Procaps Group, S.A. has received formal notice from Nasdaq regarding its failure to timely file the Form 20-F for the fiscal year ended December 31, 2023, which may lead to suspension and delisting of its securities unless a hearing is requested [1] - The Company plans to request a hearing before the Nasdaq Hearings Panel and seek a stay of any suspension action [2] - Procaps is actively working to complete an independent investigation and file the Form 20-F with the SEC as soon as possible [3] Company Overview - Procaps Group, S.A. is a leading developer of pharmaceutical and nutraceutical solutions, with a presence in over 50 countries and nearly 5,000 employees [4]

Core Insights - Procaps Group is undergoing a financial restructuring and strategic plan to enhance its operational efficiency and financial health [1][6] Debt Management - The company has signed consolidated forbearance agreements covering approximately $209 million in debt, allowing it to pause payments and focus on long-term strategies [2] - A $5 million investment from controlling shareholders via a subordinated promissory note has been secured to support immediate working capital needs, highlighting the urgency of the restructuring plan [3] Operational Improvements - Procaps is conducting an internal investigation and working with legal and accounting advisors to ensure the accuracy of financial reporting [4] - The company is collaborating with financial advisors, including FTI Consulting, Inc., to develop a comprehensive long-term debt restructuring plan [5] Future Outlook - The company aims to improve operational efficiency, optimize cash flow, and secure financial flexibility to support long-term growth objectives [6]

Anti-tumor clinical responses were observed in 29% (4/14) of efficacy-evaluable patients with PROC treated with TransCon IL-2 β/γ in combination with chemotherapy Initial data suggest clinical activity in heavily pre-treated PROC patients and that TransCon IL-2 β/γ in combination with chemotherapy was generally well-tolerated COPENHAGEN, Denmark, Sept. 13, 2024 (GLOBE NEWSWIRE) -- Ascendis Pharma A/S (Nasdaq: ASND) today announced initial data showing signs of clinical activity in heavily pre-treated patien ...

MIAMI and BARRANQUILLA, Colombia, Sept. 03, 2024 (GLOBE NEWSWIRE) -- Procaps Group, S.A. (NASDAQ: PROC) ("Procaps" or the "Company"), a leading integrated LatAm healthcare and pharmaceutical conglomerate, today issued the below letter to shareholders from José Antonio Vieira, CEO of Procaps, addressing the current state of the business and outlining key strategic priorities for the Company. "Dear Shareholders, When I began my tenure as CEO of Procaps in January 2024, I made a commitment to formulate a strat ...