TRxADE Health, Inc. Announces Business Combination with Scienture, Inc., in a Transaction Valued at $103 Million

Core Viewpoint - TRxADE Health, Inc. has completed a business combination with Scienture, Inc. in an all-stock transaction valued at approximately $103 million, with TRxADE set to change its name to Scienture Holdings, Inc. following the conversion of non-voting convertible preferred stock [1][20]. Business Combination Structure - The business combination is structured as a stock-for-stock exchange, where all outstanding equity securities of Scienture will be exchanged for TRxADE common stock and non-voting convertible preferred stock [2]. - Post-combination, current Scienture stockholders are expected to own approximately 82.99% of the combined company's equity, while TRxADE stockholders will own about 17.01% [2]. Company Profiles - Scienture, Inc. is a New York-based pharmaceutical company focused on developing unique specialty product concepts aimed at enhancing patient and healthcare system value [3][11]. - TRxADE Health, Inc. has historically focused on health services IT assets and operates primarily through its subsidiary, Integra Pharma Solutions, LLC, which is a licensed pharmaceutical wholesaler [13]. Future Plans and Strategy - The combined company will focus on bringing innovative branded specialty pharmaceutical products to market, enhancing the standard of care and adding value to patients and healthcare systems [15]. - Scienture aims to shift the dynamic of care to be more patient-centric, with a well-thought-out development and commercial strategy across various therapeutic areas [6][11]. Management and Governance - The boards of directors of both companies have unanimously approved the business combination, with Suren Ajjarapu continuing as Chairman and CEO of the combined entity [16].