Wellgistics Health Leaders Exercise 200,000 Warrants at $10, Lock Up 1.53M Shares
WGRX•Executive Chairman Suren Ajjarapu and President Prashant Patel exercised warrants to acquire 200,000 common shares at $10 per share. Following this exercise, Wellgistics Health’s shares outstanding rose to 2,847,198, with holders of roughly 1,533,930 shares under a 90-day lock-up.
1. Executive Warrant Exercise
Executive Chairman Suren Ajjarapu and President Prashant Patel exercised all previously issued warrants to acquire a total of 200,000 common shares at an exercise price of $10 per share, converting outstanding salary obligations into equity.
2. Share Count and Lock-Up Arrangements
The warrant exercise increased the total shares outstanding to 2,847,198. Approximately 1,533,930 common shares held by certain stockholders are subject to new lock-up agreements preventing sale for 90 days.
3. Strategic Alignment and Context
Converting salaries into equity aligns executive incentives with those of shareholders and supports the company’s proposed rebranding to DataMeds AI. This move underscores management’s confidence in expanding their pharmacy AI and blockchain-based health data platform.
