Cosmos Holdings Inc. - COSM STOCK NEWS

Cosmos Health (Nasdaq:COSM) has extended its non-binding letter of intent to acquire ZipDoctor Inc. from American International Holdings Corp. (AMIH), successfully renegotiating the acquisition price. This telemedicine platform provides direct-to-consumer access to certified physicians and mental health counselors, projected to capture a sizeable share of the U.S. telehealth market, valued at $23.8 billion in 2021 and expected to reach $309.9 billion by 2030. The updated agreement remains effective until February 15, 2023. CEO Greg Siokas expressed optimism for the acquisition, highlighting potential growth in health services.

Cosmos Health, Inc. (Nasdaq:COSM) announced a remarkable 78% reduction in its debt, decreasing from $21.2M in 2021 to $4.6M in 2022. This reduction exceeded the company's previous guidance of a 50% decrease. The debt reduction was primarily driven by a $32.5M registered public offering. Consequently, Cosmos expects its interest expense in 2023 to fall by 72%, down to approximately $0.6M, compared to $2.2M in 2022. CEO Greg Siokas emphasized the strengthened balance sheet enhances the company’s risk profile and supports their ongoing growth strategy.

Cosmos Health (Nasdaq:COSM) has extended its binding letter of intent to acquire Pharmaceutical Laboratories CANA S.A., a Greek pharmaceutical manufacturer. The revised agreement, effective until May 31, 2023, features improved payment terms. CEO Greg Siokas emphasized the acquisition's strategic importance, highlighting expected synergies and enhanced vertical integration. Cana, established in 1928, has a broad portfolio including pharmaceuticals and medical devices. Its facilities in Athens are certified under European Good Manufacturing Practices (GMP).

Cosmos Health, Inc. (Nasdaq: COSM) announced on January 5, 2023, that it has resolved its Nasdaq minimum bid price deficiency and will continue trading without disruption. The Company achieved compliance by maintaining a closing bid price above $1.00 per share for 10 consecutive business days following a 1 for 25 reverse stock split on December 16, 2022. CEO Greg Siokas expressed confidence in the Company's financial stability and plans for growth, highlighting a strong cash balance and a multi-layered growth strategy.

Cosmos Health, Inc. (Nasdaq: COSM) has announced that CEO Greg Siokas invested $3 million in the company's recent financing round, bringing his total personal investment in 2022 to approximately $6 million. Siokas aims to align his interests with shareholders, having contributed around $13 million since 2019. The company completed three financing rounds in 2022, raising $46 million. Additionally, management anticipates a 50% reduction in debt by year-end 2022, driven by significant warrant exercises.

Cosmos Health Inc. (NASDAQ:COSM) has successfully closed a registered direct offering of 2,828,320 shares of its common stock, alongside a private placement of warrants for the same number of shares, at a combined price of $11.50 per share. The total gross proceeds are approximately $32.5 million, which will be used for working capital and general corporate purposes. The offering included a $3 million investment from CEO Grigorios Siokas and other existing shareholders. The offering is conducted under a previously effective SEC registration statement.

Cosmos Health Inc. (Nasdaq:COSM) announced a registered direct offering and concurrent private placement for 2,828,320 shares of common stock at a purchase price of $11.50 per share, raising approximately $32.5 million before expenses. The offering includes warrants for the same number of shares, exercisable immediately at the same price, expiring in five years. Proceeds are intended for working capital and general corporate purposes, with closing expected on December 21, 2022. A.G.P./Alliance Global Partners is the sole placement agent.

Cosmos Holdings Inc. (NASDAQ: COSM) announced a 1-for-25 reverse stock split effective December 16, 2022, to comply with NASDAQ's minimum bid price requirement. This move was approved by the Board of Directors on December 15, following the Annual General Meeting on December 2. Additionally, the company is changing its name to Cosmos Health Inc. as part of its rebranding strategy. CEO Greg Siokas expressed optimism regarding the company's growth prospects and financial stability, emphasizing their focus on expanding as a global health and wellness company.

Cosmos Health, Inc. (NASDAQ:COSM) has engaged Shareholder Intelligence Services, LLC (ShareIntel) to analyze trading patterns of its stock over the last two years. This initiative underscores the company's commitment to transparency and shareholder value. ShareIntel provides compliance-driven tools to help companies monitor ownership and short selling activities. Cosmos Health specializes in nutraceuticals and pharmaceuticals, with a focus on R&D and global distribution. The company's diverse offerings and strategic expansions position it favorably in the healthcare market.