WORK Medical to make $1M equity investment in Neologics Bioscience

WORK Medical (WOK) Technology entered into an investment agreement with Neologics Bioscience to invest $1M in cash to acquire a 10% equity interest in Neologics. Pursuant to the Investment Agreement, WORK Medical has agreed to subscribe for newly issued shares of Neologics, representing a 10% ownership interest on a post-investment basis. Following the investment, Neologics’s total capital reserve will increase to $10M, with its existing shareholder retaining a 90% ownership interest. According to the Investment Agreement, WORK Medical has corporate governance rights commensurate with its 10% equity interest in Neologics, including, shareholder rights with respect to nominating board members. Additionally, WORK Medical has a right of first refusal to purchase any equity interests offered by Neologics, on terms no less favorable than those offered to third parties. The investment proceeds are expected to be primarily used to support Neologics’s operations, R&D, market expansion, talent acquisition, and other legitimate business purposes. Neologics has agreed to complete all necessary corporate registration, shareholder filings, and the issuance of an equity certificate within 20 working days following the execution of the Investment Agreement.