TRxADE Health Merges with Scienture in $103M Deal

Dow Jones07-26

By Dean Seal

TRxADE Health has closed a business combination with the privately-held pharmaceutical company Scienture in a $103 million stock deal.

The pharmaceutical exchange platform provider said Friday that it has acquired all of Scienture's assets in exchange for TRxADE stock.

The combined company will go forward under the name Scienture Holdings and trade on the Nasdaq. The company's board will include TRxADE's directors and two additional members designated by Scienture.

Scienture stockholders are expected to own about 82.99% of the combined company, with current TRxADE owning the rest.

Write to Dean Seal at dean.seal@wsj.com

(END) Dow Jones Newswires

July 26, 2024 08:23 ET (12:23 GMT)

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