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CEO of Wellgistics Health Converts $1.5 Million of Debt to Equity at IPO Price

1. WGRX converts $1.5 million debt into shares at $4.50 price. 2. This adjustment improves liquidity and capital structure for WGRX.

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Why Bullish?

The debt conversion reduces immediate cash obligation, improving financial stability. Historical precedent shows similar conversions often boost stock price due to enhanced investor confidence.

How important is it?

The debt conversion is critical for WGRX’s financial maneuverability, likely to stabilize or increase stock evaluation.

Why Short Term?

The immediate effect on liquidity and investor sentiment may create upward pressure on stock prices soon after the announcement, similar to past cases in other firms.

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BRNJNJUNH
TAMPA, FL / ACCESS Newswire / April 15, 2025 / Wellgistics Health, Inc. (NASDAQ:WGRX) (the "Company"), a holding company for various existing and planned strategic businesses centered around healthcare technology and pharmaceutical services, today announced that it has entered into an amendment to the Membership Interest Purchase Agreement with Wellgistics LLC and Wellgistics LLC's former owners to convert a significant cash payment owed by the Company into shares of the Company's common stock at the initial public offering price of $4.50 per share. Specifically, the Company has converted $1.5 million in debt that the Company owed to a seller entity controlled by Brian Norton, its Chief Executive Officer, and that the Company would have needed to pay by June 14, 2025.

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