Business
Wellgistics Health Refinances Outstanding Convertible Debt and Raises $6.5M
Wellgistics Health Refinances Outstanding Convertible Debt and Raises $6.5M
About this update from Wellgistics Health, Inc.
[{"type":"text","content":"New oversubscribed $21 million convertible debt instrument (\"New Debt\") refinances all outstanding convertible debt, provides $6.5 million in new capital for working capital and general corporate purposes does not accrue interest and converts into common shares at $6.00 per shareAutomatic Exchange provision automatically converts the New Debt into Preferred Stock upon the effectiveness of a registration statement and attainment of shareholder approval for the creation of Preferred StockThe class of Preferred Stock that the New Convertible Debt exchanges into (the \"Funding Preferred\") converts into common shares at $50.00 per shareNew funds raised satisfy capital raising closing condition from Fully Binding Term Sheet with Datavault AI, EOS Technology Holdings, Scilex Pharma and HealthBridge Advisors TAMPA, FL / ACCESS Newswire / May 27, 2026 / Wellgistics Health, Inc. (\"Wellgistics\") (NASDAQ:WGRX), a Health IT leader, integrating pharmacy dispensing AI platform EinsteinRx™ into patented pharmacy smart contracts platform PharmacyChain™, today announced that it completed a financing transaction through the issuance of a new $21 million convertible debt instrument (the \"New Debt\") that refinances all of its outstanding convertible debt and provides $6.5 million in fresh capital (the \"New Money\"). The offering was oversubscribed. The New Money raised in this transaction satisfies the capital raising closing condition outlined in the previously announced fully binding term sheet the Company entered into with Datavault AI, EOS Technology Holdings, Scilex Pharma and HealthBridge Advisors (the \"DelivMeds AI Transaction\"). Dawson James Securities, Inc. acted as placement agent for the financing.\"This transaction refinanced all of the Company's previously outstanding convertible debt and raised the new capital necessary to close the DelivMeds AI Transaction,\" said Gerald Commissiong, Interim Co-CEO of Wellgistics Health. \"We are grateful for the strong vote of confidence from the pre-existing and new investors who participated in this funding round. We believe we now have a strong operational mandate and the capital needed to execute our vertically-integrated growth strategy.\"Under the terms of the agreements, New Debt was issued that refinanced all outstanding convertible debt of the Company, provided $6.5 million in new ...