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NEW YORK - DSS, Inc. (NYSE American:DSS), a micro-cap company currently valued at $8.64 million, announced Tuesday that its subsidiary Impact BioMedical has entered into a definitive merger agreement with global pharmaceutical company Dr. Ashleys Limited. According to InvestingPro analysis, DSS has been facing significant financial challenges, with a concerning debt-to-equity ratio of 3.14x.
The reverse merger will create a new combined entity that will trade on the NYSE American under the name Dr. Ashleys Limited, according to a company press release.
Under the agreement terms, Impact BioMedical’s shares, including those held by DSS, will be converted into ordinary shares of the new public company, representing 4.80% of the combined company’s total outstanding shares at closing.
The transaction involves several preliminary steps including the conversion of Impact’s Series A Preferred Stock and the exercise of DSS’s debt-to-equity rights under its promissory note.
"This transaction reflects our continued commitment to unlocking shareholder value through the strategic development and monetization of our subsidiaries," said Jason Grady, CEO of DSS, Inc.
The newly formed public company will be operated by Dr. Ashleys’ management team, with a new Board of Directors to be assembled by Dr. Ashleys.
The boards of both companies have unanimously approved the proposed transaction, which remains subject to Impact’s shareholder approval, regulatory approvals, and other customary closing conditions including an effective registration statement with the SEC.
This merger represents the latest development in DSS’s broader strategy to structure its subsidiaries as standalone public entities through spin-offs, strategic transactions, and public listings.
DSS operates across multiple business sectors including health and wellness, packaging, real estate, and securities and blockchain.
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