WPF Holdings Announces Spin-Off of Super App and Telemedicine Subsidiaries to NASDAQ-Listed Company
WPF Holdings (WPFH) has announced plans to spin off its Super App and Telemedicine subsidiaries into a NASDAQ-listed company. The transaction involves transferring Vezbi, Inc. and Virtual Health Holdings, Inc. (VHHI) to a shareholder trust, which will exchange these assets with a NASDAQ-listed company for $1 billion in common shares.
The spin-off will proceed in three phases: asset transfer to trust, exchange of shares, and distribution of shares to qualified WPFH shareholders. To be eligible, shareholders must be on record as of December 31, 2024, and maintain their holdings through the completion of the spin-off. The transaction is structured as a tax-free corporate reorganization, allowing shareholders to retain their existing WPFH equity while gaining proportional ownership in the NASDAQ-listed company.
WPF Holdings (WPFH) ha annunciato piani per scorporare le sue filiali Super App e Telemedicina in una società quotata al NASDAQ. La transazione prevede il trasferimento di Vezbi, Inc. e Virtual Health Holdings, Inc. (VHHI) a un fondo fiduciario per azionisti, che scambierà questi attivi con una società quotata al NASDAQ per 1 miliardo di dollari in azioni ordinarie.
Lo scorporo avverrà in tre fasi: trasferimento degli attivi al fondo, scambio di azioni e distribuzione delle azioni agli azionisti qualificati di WPFH. Per essere idonei, gli azionisti devono essere registrati entro il 31 dicembre 2024 e mantenere le loro partecipazioni fino al completamento dello scorporo. La transazione è strutturata come una riorganizzazione aziendale senza pagamento di imposte, consentendo agli azionisti di mantenere la loro equity esistente in WPFH, guadagnando nel contempo un'adeguata proprietà nella società quotata al NASDAQ.
WPF Holdings (WPFH) ha anunciado planes para escindir sus filiales Super App y Telemedicina en una compañía cotizada en NASDAQ. La transacción implica la transferencia de Vezbi, Inc. y Virtual Health Holdings, Inc. (VHHI) a un fideicomiso de accionistas, que intercambiará estos activos por 1 mil millones de dólares en acciones comunes.
La escisión se llevará a cabo en tres fases: transferencia de activos al fideicomiso, intercambio de acciones y distribución de acciones a accionistas calificados de WPFH. Para ser elegibles, los accionistas deben estar registrados al 31 de diciembre de 2024 y mantener sus participaciones hasta la finalización de la escisión. La transacción está estructurada como una reorganización corporativa libre de impuestos, lo que permite a los accionistas conservar su capital existente en WPFH mientras obtienen una propiedad proporcional en la compañía listada en NASDAQ.
WPF Holdings (WPFH)는 슈퍼 앱 및 원격 의료 자회사를 NASDAQ 상장 기업으로 분리할 계획을 발표했습니다. 이 거래는 Vezbi, Inc.와 Virtual Health Holdings, Inc. (VHHI)를 주주 신탁으로 전환하여, 이러한 자산을 NASDAQ 상장 기업과 10억 달러의 보통주로 교환하는 것을 포함합니다.
분리는 세 단계로 진행됩니다: 신탁으로의 자산 이전, 주식 교환 및 자격 있는 WPFH 주주에게의 주식 분배. 자격을 얻으려면 주주는 2024년 12월 31일 기준으로 등록되어 있어야 하며, 분리 완료 시까지 보유 지분을 유지해야 합니다. 이 거래는 세금이 없는 기업 재편성으로 구조화되어 있어, 주주가 WPFH의 기존 지분을 유지하면서 NASDAQ 상장 기업에 대한 비례 소유권을 얻을 수 있도록 합니다.
WPF Holdings (WPFH) a annoncé des projets de scission de ses filiales Super App et Télémédecine en une entreprise cotée au NASDAQ. La transaction implique le transfert de Vezbi, Inc. et Virtual Health Holdings, Inc. (VHHI) à un trust d'actionnaires, qui échangera ces actifs avec une entreprise cotée au NASDAQ pour 1 milliard de dollars en actions ordinaires.
La scission se déroulera en trois phases : transfert des actifs au trust, échange d'actions et distribution d'actions aux actionnaires qualifiés de WPFH. Pour être éligibles, les actionnaires doivent être enregistrés au 31 décembre 2024 et maintenir leurs participations jusqu'à la finalisation de la scission. La transaction est structurée comme une réorganisation d'entreprise sans impôt, permettant aux actionnaires de conserver leur participation dans WPFH tout en obtenant une propriété proportionnelle dans la société cotée au NASDAQ.
WPF Holdings (WPFH) hat Pläne angekündigt, seine Super App und Telemedizin Tochtergesellschaften in ein an der NASDAQ gelistetes Unternehmen auszugliedern. Die Transaktion umfasst die Übertragung von Vezbi, Inc. und Virtual Health Holdings, Inc. (VHHI) in einen Aktionärstrust, der diese Vermögenswerte mit einem an der NASDAQ gelisteten Unternehmen gegen 1 Milliarde Dollar in Stammaktien tauschen wird.
Die Ausgliederung erfolgt in drei Phasen: Vermögensübertragung in den Trust, Aktienaustausch und Verteilung der Aktien an qualifizierte WPFH-Aktionäre. Um berechtigt zu sein, müssen Aktionäre zum 31. Dezember 2024 im Register stehen und ihre Anteile bis zum Abschluss der Ausgliederung halten. Die Transaktion ist als steuerfreie Unternehmensumstrukturierung strukturiert und ermöglicht es den Aktionären, ihre bestehenden WPFH-Beteiligungen zu behalten und gleichzeitig proportionalen Besitz an dem an der NASDAQ gelisteten Unternehmen zu erwerben.
- Tax-free corporate reorganization structure benefits shareholders
- Shareholders receive $1 billion worth of NASDAQ-listed shares while retaining WPFH equity
- Strategic positioning in growing digital services and telemedicine markets
- Transaction completion subject to regulatory and closing conditions
- Shareholders must hold shares through entire spin-off period to qualify
MELBOURNE, FL / ACCESSWIRE / December 16, 2024 / WPF Holdings, Inc. ("WPFH" or the "Company") today announced plans to spin off its Super App and Telemedicine subsidiaries into a NASDAQ-listed company. The terms of the transaction were initially detailed in the Company's Disclosure Statement for the period ending September 30, 2024.
Under the proposed structure, WPFH will transfer ownership of Vezbi, Inc. and Virtual Health Holdings, Inc. (VHHI) to an interim shareholder trust, which will then exchange these assets with a NASDAQ-listed company in return for
Key Benefits to Shareholders
Shareholders will retain their existing equity in WPFH while gaining proportional ownership in the NASDAQ-listed company.
The transaction is structured to be a tax-free corporate reorganization, so shareholders will not incur in any immediate tax liability.
Transaction Overview
The spin-off will proceed in three structured phases:
Asset Transfer to Trust: WPFH will transfer ownership of VHHI and Vezbi to a newly established shareholder trust (the "Trust").
Exchange of Shares: The Trust will transfer ownership of VHHI and Vezbi to the NASDAQ-listed company in exchange for shares in the NASDAQ-listed entity.
Distribution of Shares: Upon meeting all regulatory and closing conditions, the NASDAQ-listed company's common shares will be distributed to qualified WPFH shareholders.
WPFH senior management commented "This spin-off represents a pivotal step in delivering value to our shareholders," . "By enabling direct ownership in the NASDAQ-listed company, this transaction allows our investors to fully benefit from the growth potential of our Super App and Telemedicine platforms while positioning WPFH for its next stage of development."
Record Date for Shareholder Eligibility
To qualify for the distribution, WPFH shareholders must be of record as of December 31, 2024, and must continue to hold their shares through the completion of the spin-off's final phase. Only shareholders meeting these criteria will become beneficiaries of the Trust and receive shares in the NASDAQ-listed company.
Looking Ahead
The newly listed company will operate under SEC reporting standards and will focus on advancing its Super App and Telemedicine platforms. These platforms are strategically positioned to address the growing demand for integrated digital services and telemedicine solutions.
Simultaneously, WPFH will continue to pursue new opportunities, leveraging the strategic value of its portfolio and fostering innovation as it transitions into its next phase of growth.
Further updates, including the NASDAQ-listed company's ticker symbol, transaction timeline, and additional details, will be announced in the coming weeks.
About WPF Holdings, Inc.
WPF Holdings, Inc. is a diversified holding company dedicated to driving growth and innovation across its portfolio. The Company focuses on identifying high-potential opportunities and delivering consistent value to its shareholders.
Safe Harbor Statement
This press release contains forward-looking statements under the Private Securities Litigation Reform Act of 1995. These statements are subject to various risks and uncertainties, including economic conditions, regulatory changes, and competitive factors. WPFH disclaims any obligation to update forward-looking statements as new information becomes available.
Additional Information and Where to Find It
The prospective parties intend to file with the U.S. Securities and Exchange Commission (the "SEC") a registration statement on Form S-4 (the "Registration Statement"). Investors and security holders are advised to read, when available, the Registration Statement, including any amendments or supplements thereto, as well as other documents that will be filed with the SEC, in each case, before making any investment decision with respect to the Potential Business Combination, because these documents will contain important information about the parties to the Potential Business Combination and the Potential Business Combination. Investors will be able to obtain copies of the Registration Statement and other documents filed with the SEC in connection with a Potential Business Combination, without charge, at the SEC's website at www.sec.gov.
No Offer
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any states or jurisdictions in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended, or an exemption therefrom.
Contact:
WPF Holdings, Inc.
Investor Relations
Email: info@wpf-holdings.com
SOURCE: WPF Holdings
View the original press release on accesswire.com
FAQ
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