Business
Emergent Health to spin out subsidiary PharmaZu to its Shareholders pursuant to an IPO underwritten by a Nationally Recognized Investment Banking Firm
Emergent Health to spin out subsidiary PharmaZu to its Shareholders pursuant to an IPO underwritten by a Nationally Recognized Investment Banking Firm.
About this update from Emergent Health Corp.
[{"type":"text","content":"New York, NY / / May 4, 2023 / Emergent Health Corp. (OTC PINK: EMGE), a curator, developer, and marketer of products in the Regenerative Health Space announced today that it has executed a Term Sheet for a firm committed underwriting with a nationally recognized investment banking firm for $10,000,000 with respect to planned corporate financing transactions, including the private placement of securities (“pre-IPO Financings”) and the planned $10 million initial public offering of Emergent subsidiary PharmaZu common stock (“IPO”) that will be applied for listing on NASDAQ or NYSE/AMEX, with NO DILUTION to Emergent shareholders. PharmaZu is a pure play, e-commerce products and service provider focused on the Pet Community, Pet Pharmacy and Pet Wellness using Influencers and their content, including pet pharmacy, vet telehealth and pet wellness businesses. Upon the effectiveness of the IPO and listing on a national exchange, PharmaZu plans to acquire a 48-state authorized compounding pharmacy located in West Palm Beach, FL, doing approximately $10M a year in revenue, which will serve as the backbone and fulfilment center for PharmaZu, creating a national platform throughout the United States. Subsequently, Emergent plans to distribute to its shareholders, pro rata, the shares of PharmaZu as a dividend, when a record date is set.The raise of capital will be used for expanding PharmaZu’s business, product offerings, as well as for acquisitions.Jim Morrison, former L'Oréal President and Emergents full time CEO stated, “The transaction with Boustead will start a new exciting chapter for PharmaZu, while maximizing the value to Emergent’s shareholders.”Adam Books, President of PharmaZu stated, “PharmaZu is poised to start its disrupting of the mail order pet business and pet medications, as well as advancing the tele-pet med environment. I am very thrilled to be a part of this.”The execution of the Engagement Letter does not constitute a commitment by Boustead or the Company to consummate any transaction contemplated hereunder and does not ensure the successful placement of securities of any investment vehicle or the success of Boustead with respect to finding any investors or the success with respect to any transaction. No promises, representations or guarantees have been made.ABOUT EMERGENT HEALTH CORPORAT...