Shorepower Technologies, Inc. (OTC: SPEV) has entered into a definitive merger agreement with Aeternum Health LLC, marking a strategic shift from transportation electrification infrastructure to a longevity-focused healthcare platform. The merger, dated February 17, 2026, will result in Aeternum Health merging into Shorepower, with Shorepower as the surviving entity. Upon closing, the company intends to focus on developing services, products, and solutions aimed at increasing longevity and optimizing health outcomes through peptide-based therapies.
Under the terms of the agreement, Shorepower will issue common stock representing 51% ownership to the sole member of Aeternum Health. Additionally, 2,000,000 shares of Series B Preferred Stock will be issued, each with voting power equal to 40 shares of common stock. Aeternum Health will contribute know-how and data related to a novel peptide mix for longevity and anti-aging, along with associated intellectual property, a minimum of $1.5 million in cash, and a business focused on commercializing the peptide technology. The parties intend for the merger to qualify as a tax-free reorganization under Section 368(a) of the Internal Revenue Code.
Leadership changes accompany the transaction. Jeff Kim will resign as President, CEO, and sole director, to be replaced by Paul E. Mann, currently Manager of Aeternum Health. Mann brings over two decades of experience in biotechnology, healthcare investing, and public company leadership. He serves as Chairman and CEO of ASP Isotopes Inc. (Nasdaq: ASPI) and has held senior investment roles at Soros Fund Management, Highbridge Capital, and DSAM Partners. Earlier in his career, he was a sell-side analyst at Morgan Stanley and Deutsche Bank, co-managing top-ranked healthcare research teams.
Corporate actions include a planned name change to Aeternum Health Inc., an increase in authorized common shares to 250 million, and a spin-out of the existing transportation electrification business. Financial statements and pro forma financial information for Aeternum Health will be filed by amendment within 71 calendar days of the initial Form 8-K filing.
Shorepower Technologies currently designs, manufactures, and operates transportation electrification equipment, including systems for truck stops and electric vehicle supply equipment. The merger represents a complete strategic repositioning into the high-growth longevity and health optimization sector. The company's forward-looking statements highlight risks including the ability to consummate the merger, regulatory approvals, integration challenges, and market acceptance of peptide technologies.
For more details on the transaction, refer to the company's filings and the original press release.
