Progressive Care Inc. Confirms Special Meeting Outcomes

Business Combination with NextPlat Corp. Approved

Progressive Care Inc. (RXMD), a leading provider in personalized healthcare services and technology, has successfully completed a Special Meeting of Stockholders where a significant proposal was put forth. Shareholders enthusiastically approved the Merger Agreement and Plan of Reorganization involving a business combination with NextPlat Corp.

Details of the Special Meeting

During the recent Special Meeting, shareholders gathered to cast their votes regarding the substantial business combination with NextPlat Corp (NXPL). The endorsement from the shareholders signals a promising direction for Progressive Care as it aims to transition into a wholly-owned subsidiary of NextPlat.

Shareholder Approval

During the gathering, the votes were meticulously counted, and the results showcased strong support from the shareholders for the proposed merger. This approval is pivotal as it propels Progressive Care into a new phase of growth and operational advantages under NextPlat's umbrella.

Expected Closing and Share Exchange

Following the positive outcome of the vote, Progressive Care anticipates the completion of the business combination on a future date, contingent upon meeting certain closing conditions. Once finalized, shareholders will receive approximately 1.4865 shares of NextPlat's common stock for each share they hold in Progressive Care.

Instructions for Shareholders

For those shareholders holding physical stock certificates, the company urges them to contact Equity Stock Transfer, the designated transfer agent, for guidance on the procedures required to facilitate this share exchange. This will ensure a smooth transition to the new stock arrangement.

About Progressive Care Inc.

Progressive Care, through its various subsidiaries, specializes in a wide range of health services. They provide Third-Party Administration (TPA), extensive data management solutions, COVID-19 diagnostics and vaccinations, as well as pharmacy services under the 340B program. Furthermore, they offer compounded medications and tele-pharmacy services to meet diverse healthcare demands.

Company Evolution

The recent approval marks a significant milestone in Progressive Care's journey. Transitioning under NextPlat Corp's operations since July 2023, it has enabled access to broader markets and innovative solutions, enhancing healthcare delivery.

About NextPlat Corp

NextPlat operates as a dynamic platform in global e-commerce, focused on integrating multiple high-growth sectors. The company's efforts in collaboration and acquisition aim to streamline the process for businesses to maximize their online sales capacity, enhancing both domestic and international market reach.

Future Prospects

With NextPlat’s commitment to healthcare data management services, alongside Progressive Care’s established reputation, there is an anticipated synergy that can lead to improved efficiencies and innovative healthcare solutions. Investors and healthcare professionals alike are keenly watching this development unfold.

Investor Relations

For any inquiries regarding this merger or to gather further details, investors are encouraged to contact Michael Glickman at MWGCO, Inc. He can be reached at 917-397-2272 or via email at mike@mwgco.net.

Frequently Asked Questions

What is the outcome of the Special Meeting?

The shareholders approved the business combination with NextPlat Corp during the Special Meeting, marking a significant step for Progressive Care Inc.

When is the anticipated closing date?

The closing is expected to occur shortly after meeting all necessary conditions, with the latest information suggesting a future date in October.

How will shares be exchanged?

Each shareholder will receive 1.4865 shares of NextPlat's common stock for every share they own in Progressive Care at the time of the transaction.

What should physical stockholders do?

Physical stockholders are advised to contact Equity Stock Transfer for further instructions regarding the transfer and delivery of their shares.

Where can I find more information about Progressive Care?

Additional information can be found on the company's official website and through current reports filed with the SEC.

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