HeartSciences Inc. filed a preliminary proxy statement and issued a press release regarding its proposed all-stock business combination with Fortitude Mining Holdings, Inc., announced in June 2026. The transaction involves the issuance of approximately 107.6 million shares of new Class V Common Stock to Digital Currency Group, resulting in pro forma combined shareholders' equity of $70.0 million. HeartSciences reported no meaningful revenue for fiscal year 2026 ending April 30, 2026, with cash and equivalents of approximately $1.7 million. The filing also outlines a proposal to authorize the Board to implement a reverse stock split within a range of 1-for-2 to 1-for-5 if necessary for Nasdaq listing compliance. HeartSciences operates in the healthcare information technology sector, focusing on AI-integrated electrocardiography solutions.
