on Wellgistics Health, Inc. (NASDAQ:WGRX)
Wellgistics Health Converts $8.1M Debt to Equity
Wellgistics Health, Inc. (NASDAQ: WGRX) has announced the conversion of $8.1 million in debt to equity. This decision, backed by the Board of Directors, aims to strengthen the company's financial position by significantly reducing short-term debt. The conversion also offers Wellgistics Health an opportunity to accelerate cash flow, improve acquisition capabilities for high-demand pharmaceuticals, and expand its network of independent pharmacies nationwide.
The company's proprietary technology platform, featuring AI-powered hub services and digital prescription routing, is expected to benefit from the transaction. CEO Brian Norton and former minority partners of Wellgistics, LLC—acquired by Wellgistics Health in 2024—lead this strategic move.
CFO Mark DiSiena stated the conversion is a pivotal step towards advancing their business strategy and creating long-term shareholder value.
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