Core Points - NextPlat Corp has completed the merger with Progressive Care Inc, making Progressive Care a wholly-owned subsidiary, resulting in its common stock ceasing to trade on the OTCQB exchange as of October 1, 2024 [1][2] - The merger aims to create a unified company focused on growth in healthcare services, technology, and personal health and wellness, with expectations of improved financial performance through operational integration and new product launches [2][4] Merger Details - Under the merger agreement, Progressive Care shareholders received 1.4865 shares of NextPlat common stock for each share of Progressive Care they owned prior to the merger [3] - The share exchange was conducted automatically for shares held in brokerage and retirement accounts, while shareholders with physical stock certificates are advised to contact NextPlat's transfer agent for instructions [3] Company Overview - NextPlat is a global e-commerce platform targeting high-growth sectors, including technology and healthcare, and aims to enhance online sales for businesses through various strategies such as acquisitions and collaborations [4] - Progressive Care provides a range of health services, including Third-Party Administration, COVID-19 diagnostics, pharmacy services, and telepharmacy, among others [5]
NextPlat Announces Completion of Merger and Business Combination with Progressive Care Inc. as Company Focuses on Growth in Healthcare, Technology and Personal Wellness Markets