M&A - PREAXIA HEALTH CARE PAYMENT SYSTEMS INC.

Form Type: 8-K

Filing Date: 2025-02-04

Corporate Action: Acquisition

Type: New

Accession Number: 000126246325000043

Filing Summary: On January 29, 2025, Preaxia Health Care Payment Systems, Inc. entered into a non-binding letter of intent to acquire all issued and outstanding shares of Right Inc., a privately-held U.S. corporation. The acquisition will involve exchanging common shares of Preaxia for shares of Right, with valuation details still to be determined. The merger aims to combine expertise to develop an AI-powered platform for personal finance management, integrating various financial services including personal budgeting, banking, payments, investments, and Health Savings Accounts into a single system. The transaction's completion is contingent on meeting specific terms and conditions, with a projected closing within 90 days.

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