Shorepower Technologies, Inc. has entered into a merger agreement with Aeternum Health LLC that will fundamentally transform the company's business direction from transportation infrastructure to longevity-focused healthcare. The transaction represents a complete strategic repositioning for the publicly traded company, which will now focus on developing services, products, and solutions designed to increase longevity and optimize health outcomes through peptide technology.
Under the merger agreement, Aeternum Health will merge into Shorepower, with the surviving entity issuing common stock representing 51% ownership to Aeternum Health's sole member. The transaction includes the issuance of 2,000,000 shares of Series B Preferred Stock, each share having voting power equal to 40 shares of common stock. Aeternum Health will contribute a minimum of $1.5 million in cash, a business related to commercialization of peptide technology, and transfer know-how and data relating to a novel peptide mix in development for longevity and anti-aging applications, together with associated intellectual property.
The strategic importance of this merger lies in the growing market for longevity and health optimization technologies, which represents a significant shift in healthcare priorities toward preventive and life-extending interventions. The transaction brings specialized expertise and intellectual property in peptide development to a publicly traded platform, potentially accelerating commercialization efforts in a sector that has gained substantial investor and scientific interest in recent years.
Leadership changes accompany the strategic shift, with Jeff Kim resigning as President, Chief Executive Officer, and sole director of Shorepower. Paul E. Mann, Manager of Aeternum Health, will assume the roles of President, Chief Executive Officer, and sole member of the Board of Directors upon closing of the merger. Mann brings over two decades of experience in biotechnology, healthcare investing, and public company leadership, including his current position as Chairman and CEO of ASP Isotopes Inc. (Nasdaq: ASPI).
Corporate actions following the merger include a planned name change to Aeternum Health Inc., an increase in authorized common shares to 250 million, and a spin-out of the company's existing transportation electrification business. This clean separation allows the new entity to focus exclusively on longevity technologies while potentially creating value from the legacy business through the spin-out process.
The merger's implications extend beyond corporate restructuring to potential advancements in peptide-based therapies for aging and health optimization. Peptides have emerged as promising therapeutic agents due to their specificity and relatively low toxicity profiles, making them attractive candidates for interventions targeting age-related decline. The transaction positions the combined entity to participate in a healthcare market increasingly focused on extending healthspan rather than merely treating disease.
Financial statements and pro forma financial information relating to Aeternum Health will be filed by amendment within 71 calendar days of the initial Form 8-K filing, providing investors with greater transparency regarding the financial foundation of the new strategic direction. The parties intend for the merger to qualify as a tax-free reorganization under Section 368(a) of the Internal Revenue Code, potentially preserving value for shareholders through favorable tax treatment.
This strategic pivot occurs as the longevity sector attracts increasing attention from both scientific communities and investment capital, with companies exploring various approaches to address aging as a modifiable biological process. The merger represents a notable example of a public company completely transforming its business model to capitalize on emerging opportunities in health optimization technologies.
