WGRX News & Events

Wellgistics Health files $200M mixed securities shelf

Wellgistics Health announced the execution of a definitive joint venture agreement with Kare PharmTech's wholly owned subsidiary, Kare Rx Hub, an artificial intelligence-driven digital hub supporting retail pharmacy, telemedicine, and specialty pharmaceutical programs. The execution of the joint venture formalizes the previously announced non-binding letter of intent and represents a significant milestone in aligning both organizations technology platforms and operational teams into a unified ecosystem designed to accelerate patient access and improve the efficiency of pharmaceutical commercialization.

Wellgistics Health announced that it has entered into a non-exclusive, non-binding Letter of Intent, LOI, to evaluate a potential acquisition of Neuritek Therapeutics, a neuroscience-focused research organization. The proposed all stock transaction, if completed, is intended to enhance Wellgistics existing revenue-generating healthcare platform by expanding capabilities adjacent to its core technology-enabled pharmacy distribution and services business. Through its integrated ecosystem spanning prescription fulfillment, wholesale distribution, and AI-driven patient access solutions, Wellgistics connects manufacturers, providers, and a nationwide network of independent pharmacies. The Company believes that adding a research-focused organization could strengthen alignment between drug development and commercialization, enabling earlier engagement with pharmaceutical partners, improving pipeline visibility, and supporting incremental revenue opportunities while enhancing long-term shareholder value through a more integrated and differentiated platform.

Wellgistics Health, announced that its President and Interim Chief Executive Officer, Prashant Patel, together with an additional participant from the Company's Board of Directors, entered into agreements with the Company to convert an aggregate of approximately $2.0 million of accrued compensation into shares of the Company's common stock at a conversion price of $0.20 per share, representing a premium to the Company's recent trading price. In connection with the conversion, the Company will issue approximately 10,000,000 shares of common stock. In addition, the Company issued an aggregate of 10,000,000 warrants to purchase shares of common stock at an exercise price of $0.01 per share, which were issued as additional consideration in connection with the conversion. The Warrants are exercisable immediately, have a term of 5 years from issuance, and are subject to customary anti-dilution adjustments. This conversion, which was approved by the disinterested directors of the Board, reflects Mr. Patel's confidence in the Company's strategic direction and his commitment to creating long-term shareholder value. Further reinforcing Mr. Patel's belief in the Company's long-term success, the newly issued shares of the Company's common stock are subject to a lock-up agreement restricting transfers for a period of 6 months, subject to customary exceptions. The structure of the transaction, including the issuance of Warrants, was designed to align management and director incentives with long-term shareholder value creation.