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      How Did The TRxADE (MEDS) Stock Rise 75%?

      By Fahim Awan

      Published on

      August 2, 2023

      5:18 PM UTC

      How Did The TRxADE (MEDS) Stock Rise 75%?

      TRxADE HEALTH, Inc. (NASDAQ: MEDS) experienced a significant boost in its stock value, surging by 75.98% during early trades on Wednesday, and reaching $11.65 per share at last check. This impressive rise came on the heels of the announcement of the release date for the company’s financial results.

      Looking ahead, TRxADE (MEDS) is set to unveil its financial results for the second quarter of 2023 after the market closes on August 14, 2023. The details of the financial performance will be made public through a press release, scheduled for dissemination after regular stock market trading hours on the same day as the conference call.

      In connection with the financial disclosure, a conference call hosted by MEDS’ management is scheduled for 6:00 p.m. Eastern time on August 14th, 2023. During this call, they will delve into the specifics of the second quarter’s financial performance and address any related inquiries.

      In recent news, TRxADE completed the acquisition of Superlatus, Inc., a U.S.-based holding company with a focus on food products and distribution capabilities.

      According to the amended and restated agreement and plan of merger, shareholders of Superlatus were granted 136,441 shares of MEDS common stock, representing 19.99% of the total issued and outstanding MEDS common stock at the time of the merger’s closing.

      Additionally, they received 306,855 shares of a new class of MEDS non-voting convertible preferred stock, with a conversion ratio of 100 to one, based on their pro rata percentage ownership.

      In a move to benefit its shareholders, on July 28, 2023, TRxADE issued non-transferable rights, offering one share of MEDS common stock at no cost, with seven (7) MEDS Rights allocated per share of TRxADE common stock held as of the same date.

      The eligibility for these rights extended to both existing MEDS shareholders and independent directors who were entitled to a certain amount of MEDS common stock as part of their 2023 annual compensation. Notably, this issuance was independent of whether the common stock had been issued or vested before July 28, 2023.

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