Check-Cap Ltd completed a merger with MBody AI Corp on August 26, 2026. Former MBody AI shareholders received approximately 12,379,581 Ordinary Shares, representing roughly 90% of the post-merger equity, in exchange for their shares at a conversion ratio of 0.07971678051816 per share. No cash was paid to MBody AI shareholders. Concurrently, Check-Cap terminated its prior business combination agreement with Apollo Technology Capital Corporation and exchanged $16.3 million in outstanding loans for a 7.5% equity stake in Apollo, which was then cancelled. The company's stock symbol changed to 'MBAI' on Nasdaq. Executive leadership shifted as John Fowler replaced David Lontini as CEO and Tim Hayden replaced Alan Lewis as CFO. A new board of seven directors was appointed, with four designated as independent. Check-Cap Ltd operates in the medical technology sector, specializing in non-invasive gastrointestinal diagnostics.
