Shorepower Technologies, Inc. (OTC: SPEV) announced a merger agreement with Aeternum Health LLC, signaling a strategic pivot from transportation electrification infrastructure to a longevity and health optimization platform. The merger, dated February 17, 2026, will see Aeternum Health merge into Shorepower, with Shorepower as the surviving entity. Upon closing, the company will focus on developing services, products, and solutions aimed at increasing longevity and optimizing health outcomes, leveraging a novel peptide mix and associated intellectual property contributed by Aeternum Health.
Under the terms of the agreement, Shorepower will issue common stock representing 51% ownership to the sole member of Aeternum Health, along with 2,000,000 shares of Series B Preferred Stock, each carrying voting power equal to 40 shares of common stock. Aeternum Health will contribute a minimum of $1.5 million in cash, its peptide technology know-how and data, and a business related to commercializing the peptide technology. The transaction is intended to qualify as a tax-free reorganization under Section 368(a) of the Internal Revenue Code.
Leadership changes accompany the merger. Jeff Kim will resign as President, CEO, and sole director, to be replaced by Paul E. Mann, Manager of Aeternum Health, who will assume the roles of President, CEO, and sole board member. Mann brings extensive experience in biotechnology, healthcare investing, and public company leadership, serving as Chairman and CEO of ASP Isotopes Inc. (Nasdaq: ASPI). He previously held senior investment roles at Soros Fund Management, Highbridge Capital, and DSAM Partners, and began his career as a research scientist at Procter & Gamble, holding a patent for multiple skincare formulations. He holds an MA and MEng from Cambridge University and is a CFA charterholder.
Post-merger, Shorepower plans to change its corporate name to Aeternum Health Inc., increase authorized common shares to 250 million, and spin out its existing transportation electrification business. The company will file financial statements and pro forma financial information for Aeternum Health within 71 calendar days of its initial Form 8-K filing.
This strategic transition underscores the growing investor interest in longevity and anti-aging markets, particularly peptide-based therapies. The merger provides Shorepower with a new direction and capital infusion, while Aeternum Health gains access to public markets to advance its peptide technology. However, the company faces risks typical of early-stage biotechnology ventures, including development hurdles, regulatory approvals, and market acceptance. Forward-looking statements in the press release highlight these uncertainties, and the company undertakes no obligation to update them except as required by law.
For more details, the original press release is available at https://newsramp.com/newswire/prism.
