HeartSciences to Merge With Digital Asset Mining Platform Fortitude; Shares Rise Pre-Bell

MT Newswires Live06-23

HeartSciences (HSCS) said Tuesday it has agreed to merge with digital mining company Fortitude Mining in an all-stock deal.

Under the agreement, Fortitude's sole shareholder, Digital Currency Group, will own approximately 95% of the combined company on a fully diluted basis at closing.

The combined company is expected to trade on the Nasdaq Capital Market under the ticker symbol "TUDE."

Upon closing, the combined company will operate under the Fortitude brand and be led by Fortitude's current management team. HeartSciences Chief Executive Officer Andrew Simpson will oversee the healthcare business.

The merger is expected to close in H2.

HeartSciences shares were up more than 70% in Tuesday pre-bell activity.

Price: 3.06, Change: +1.23, Percent Change: +70.08

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