Executives exercise previously issued warrants to acquire 200,000 common shares
Shares issued in connection with exercise added to existing lock-up agreements
TAMPA, FL / ACCESS Newswire / June 30, 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 its Executive Chairman Suren Ajjarapu and President & Interim Co-CEO Prashant Patel have exercised all warrants previously issued to them in connection with the conversion of their outstanding salaries into common shares at $10 per share. The exercise of the warrants resulted in the issuance of a total of 200,000 to the executives.
"We believe strongly in the new direction of the Company under the new proposed DataMeds AI name that aligns our interests with those of our stockholders and builds upon our pre-existing pharmacy technology infrastructure to create a truly unique patient-centric health technology ecosystem that begins with patients seizing control of their health data," said Suren Ajjarapu, Chairman of Wellgistics Health. "By consolidating healthcare data and leveraging our trusted pharmacy positioning to better curate the data in order to prioritize actions that will lead to improvements in patient outcomes, we are putting the patient at the center of their health journey."
Following the exercise of these warrants, Wellgistics confirms that as of the date of this press release there are 2,847,198 common shares outstanding. Certain stockholders holding approximately 1,533,930 common shares, representing a majority of the outstanding common shares, have entered into lock-up agreements that preclude the sale of their shares into the market for at least ninety (90) days from today's date.
For more information, visit www.wellgisticshealth.com.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, without limitation, statements regarding the proposed corporate name change to DataMeds AI, Inc.; the proposed rebranding of the Company's Pharmacy and Pharmacy Services division as Corexa Health; the Company's proposed transaction with DataVault AI Inc., Scilex Holding Company, EOS Holdings and HealthBridge Advisors; the anticipated timing, structure, terms and completion of such transaction; the satisfaction or waiver of closing conditions; the receipt of stockholder approval and any other required approvals; the Company's anticipated business strategy, operating plans and growth opportunities; the integration of telemedicine, pharmacy, laboratory, wearable-device, artificial intelligence, blockchain and data-management technologies; the proposed development, commercialization and expansion of EinsteinRx AI, PharmacyChain, Health Lives Here and related platforms; the Company's ability to empower patients to access, manage, control or monetize health data; the anticipated benefits of the Company's technology platforms, strategic relationships and business combinations; the Company's capitalization, outstanding securities, lock-up arrangements, public float and registration statements; the Company's ability to maintain compliance with Nasdaq listing standards; and the Company's liquidity, capital resources and ability to fund operations.
Forward-looking statements are based on current expectations, estimates, projections and assumptions and are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. These risks and uncertainties include, among others, the risk that the proposed name change may not be approved by stockholders or otherwise completed; the risk that the proposed transaction may not be completed on the anticipated terms or timeline, or at all; the risk that closing conditions may not be satisfied or waived; risks related to integrating multiple businesses, technologies and platforms; risks related to the development, commercialization, adoption, scalability and regulatory treatment of artificial intelligence, blockchain-enabled data management, telemedicine, pharmacy, laboratory, wearable-device and digital health technologies; risks related to healthcare privacy, cybersecurity, data ownership, data monetization and compliance with applicable healthcare, pharmacy, consumer protection, data protection and securities laws; risks related to the Company's liquidity, capital resources, indebtedness, dilution, outstanding securities, registration statements and ability to raise additional capital; risks related to maintaining compliance with Nasdaq listing standards; market, regulatory, competitive and operational risks affecting the healthcare, pharmacy, pharmaceutical distribution, artificial intelligence, technology and digital asset sectors; and other risks described in the Company's filings with the Securities and Exchange Commission.
Forward-looking statements speak only as of the date of this press release. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
Wellgistics Media & Investor Contact
Media: media@wellgisticshealth.com
Investor Relations: IR@wellgisticshealth.com
SOURCE: Wellgistics Health, Inc.
View the original press release on ACCESS Newswire:
https://www.accessnewswire.com/newsroom/en/healthcare-and-pharmaceutical/wellgistics-health-executive-chairman-and-president-exercise-warrants-1184501
