Shorepower Technologies, Inc. (OTC: SPEV) announced today that it has entered into a definitive merger agreement with Aeternum Health LLC, marking a strategic pivot from transportation electrification infrastructure to a healthcare platform focused on longevity and health optimization. The merger, dated February 17, 2026, will see Aeternum Health merge into Shorepower, with Shorepower as the surviving entity.
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 carrying 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 for 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, while Paul E. Mann, Manager of Aeternum Health, will assume the roles of President, CEO, and sole board member upon closing. Mann brings over two decades of experience in biotechnology, healthcare investing, and public company leadership, currently serving as Chairman and CEO of ASP Isotopes Inc. (Nasdaq: ASPI). He previously held investment roles at Soros Fund Management, Highbridge Capital, and DSAM Partners, and began his career as a research scientist at Procter & Gamble.
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 Shorepower's existing transportation electrification business. Financial statements and pro forma information for Aeternum Health will be filed within 71 days of the initial Form 8-K filing.
This strategic transition underscores the growing market interest in longevity and anti-aging therapies, particularly peptide-based interventions. The merger provides Shorepower with a new direction and capital to develop and commercialize these technologies. Investors and stakeholders will be watching for updates on the merger's completion and the subsequent execution of the company's new business plan.
