DSS Subsidiary Impact BioMedical Announces Reverse Merger with Dr. Ashleys Limited

DSS, Inc.'s subsidiary Impact BioMedical Inc. has announced a strategic reverse merger with Dr. Ashleys Limited, a global pharmaceutical company. The combined entity will be listed on NYSE American as "Dr Ashleys Limited", with DSS retaining a 4.80% ownership. The merger aims to unlock shareholder value and strengthen DSS's position in the global pharmaceutical market by combining Dr. Ashleys' manufacturing prowess with Impact BioMedical's innovative platform.

DSS, Inc. (DSS, Financial) has announced a strategic reverse merger with Dr. Ashleys Limited, a global pharmaceutical company. The combined entity will be listed on NYSE American as "Dr Ashleys Limited," with DSS retaining a 4.80% ownership stake. The merger aims to unlock shareholder value and strengthen DSS's position in the global pharmaceutical market by combining Dr. Ashleys' manufacturing prowess with Impact BioMedical's innovative platform [1].

The merger will involve a subsidiary of DSS, Impact BioMedical, merging with Dr. Ashleys through a reverse merger. This will result in the formation of a new publicly traded entity, Dr. Ashleys Limited, on the NYSE American. The primary goal of the merger is to integrate Dr. Ashleys' strengths in pharmaceutical manufacturing with Impact BioMedical's innovative platform to fast-track the development of new therapies.

Several actions are set to align and simplify ownership, enhancing DSS's strategic position in the new public company. This includes converting Impact's Series A Preferred Stock and exercising DSS's debt-to-equity rights. The shares involved, including those held by DSS, will be converted into ordinary shares of the new company, amounting to 4.80% of the total shares at closing.

The merger involves a subsidiary in Nevada merging with Impact, while simultaneously acquiring all shares of Dr. Ashleys Bio Labs Limited. Consequently, both Impact and Dr. Ashleys will become fully owned subsidiaries of the new entity. The management team from Dr. Ashleys will operate the company post-merger, with a new board of directors. The deal requires approval from Impact's shareholders, regulatory bodies, and the satisfaction of customary closing conditions, including SEC registration statements being declared effective and New York Stock Exchange listing approvals [1].

References:
[1] https://www.gurufocus.com/news/2942055/dss-subsidiary-impact-biomedical-enters-merger-agreement-with-dr-ashleys-dss-stock-news