Dr Ashleys Limited, a Hong Kong-based global pharmaceutical company, and Impact BioMedical Inc. announced the execution of a merger and share exchange agreement on June 21, 2025. This strategic transaction will result in Dr. Ashleys acquiring Impact BioMedical through a reverse merger. The newly formed combined entity, PubCo, will trade on the NYSE American under the name 'Dr Ashleys Limited.'
Upon closing, Impact BioMedical and Dr. Ashleys will become wholly-owned subsidiaries of PubCo. The PubCo will be operated by Dr Ashleys' management team, with a new Board of Directors assembled by Dr Ashleys. Both Boards of Directors have unanimously approved the proposed transaction.
The merger is subject to several conditions, including approval by Impact BioMedical's shareholders, regulatory approvals, and other customary closing conditions. Dr. Kanans Visvanats, Director of Dr. Ashleys, stated that integrating Impact BioMedical’s IP portfolio will accelerate the development of groundbreaking therapies. Frank D. Heuszel, CEO of Impact BioMedical, commented that Dr. Ashleys' global reach and financial strength will provide the necessary resources and infrastructure to bring IBO's innovations to market.
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