EUDA Health signs LOI for proposed merger with TheoremRx

EUDA Health has signed a letter of intent dated October 4, 2023, with respect to the proposed merger with TheoremRx, a private U.S.-based company focused on the development of new treatments with safe administration, low toxicity, and a high potential for polypharmacy usage to benefit patients suffering from cancer and women’s health conditions. The two parties have agreed to a 30-day exclusivity period, which may be extended by an additional 15 days by mutual agreement, to negotiate and conduct due diligence with the aim of reaching a definitive agreement. Under the letter of intent, TheoremRx would merge with a subsidiary of EUDA. The legal structure, ownership stake, and name and branding after the transaction will be determined through mutual agreement during the due diligence phase. The completion of the merger is subject to various conditions, including the negotiation of a definitive agreement, regulatory approvals, and the satisfaction of customary closing conditions. There can be no assurance that the merger will be completed or that the proposed terms set forth in the letter of intent will remain unchanged.