Progressive Care Inc. Shareholders Approve Major Merger Move

Approval of Business Combination with NextPlat Corp

Progressive Care Inc. (OTCQB: RXMD) has received exciting news regarding its strategic partnership with NextPlat Corp. The stockholders have given the green light for a business combination that strengthens the company's position in the personalized healthcare sector.

Details of the Special Meeting

Recently, the company held a Special Meeting of Stockholders to discuss the proposed Merger Agreement and Plan of Reorganization. This plan details how Progressive Care, a subsidiary of NextPlat Corp (Nasdaq: NXPL & NXPLW), will become a wholly-owned part of NextPlat. The outcome of the voting demonstrated overwhelming support from shareholders who recognized the potential positive implications of this merger.

Company's Future and Shareholder Benefits

The closing of this acquisition represents a significant turning point for Progressive Care. The anticipated closing date is fast approaching, promising to enhance the company's capabilities within the diverse healthcare marketplace. Following the business combination, shares of Progressive Care will convert into NextPlat's common stock, providing shareholders with new opportunities for growth and investment.

Shareholder Exchange Details

Under the terms set forth in the Merger Agreement, Progressive Care shareholders will receive 1.4865 shares of NextPlat for each share of Progressive Care they hold. This automatic exchange simplifies the process, particularly for those holding shares in brokerage and retirement accounts.

About Progressive Care Inc.

Progressive Care Inc. is a healthcare services organization that provides a variety of services, including Third-Party Administration (TPA), medication therapy management, and tele-pharmacy services, among others. The Company became a subsidiary of NextPlat Corp, marking a new chapter in its journey towards enhanced healthcare provision and innovative services for its clients.

Advancements through NextPlat Corp

NextPlat Corp focuses on harnessing the power of e-commerce and technology, aiming to boost business sales both locally and on a global scale. With strategic acquisitions and partnerships, NextPlat establishes itself as a catalyst for growth, especially within healthcare through Progressive Care. This collaboration is poised to expand capabilities and streamline operations, benefiting a wide range of stakeholders.

Investor Relations

For further inquiries regarding this merger and investment opportunities, stakeholders can reach out to Michael Glickman at MWGCO, Inc., who oversees investor relations for Progressive Care. Direct communication avenues are open to ensure transparent and efficient information dissemination.

Investor Support and Engagement

By providing a clear channel for stakeholder engagement, Progressive Care continues to cultivate robust investor relations, fostering trust and confidence as it embarks on this significant growth trajectory.

Frequently Asked Questions

What is the recent decision made by Progressive Care Inc. stockholders?

The stockholders of Progressive Care Inc. have approved a business combination with NextPlat Corp, aiming to enhance growth in the healthcare sector.

What will happen to Progressive Care's stock after the merger?

After the merger closes, Progressive Care's common stock will cease to exist, converting to shares of NextPlat at a fixed exchange ratio.

How can shareholders contact for exchange instructions?

Shareholders holding physical stock certificates should contact NextPlat's transfer agent, Equity Stock Transfer, for further instructions on transferring shares.

What services does Progressive Care provide?

Progressive Care offers various healthcare services including tele-pharmacy, medication management, COVID-19 related services, and is involved in 340B pharmacy programs.

What is NextPlat Corp's role in the merger?

NextPlat Corp will integrate Progressive Care, enhancing its service offerings and e-commerce capabilities, signifying a strategic corporate alignment for growth.

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