Mangoceuticals, Inc. entered into a Business Combination Agreement with Nuclea Energy Inc. to acquire the developer of the Morpheus lead-cooled microreactor. Former Nuclea shareholders will hold approximately 96% of the combined entity's equity on a fully diluted basis, while existing Mango stockholders will retain about 4%. The transaction includes a minimum $15 million PIPE financing and is subject to stockholder and Nasdaq approvals. Upon closing, Jacob D. Cohen will resign as CEO and become President, Josef Freundorfer will assume the role of CEO, and Sagar Sanghera will join the board as Executive Chairman. Mangoceuticals operates in the men's health and wellness sector via its MangoRx telemedicine platform.
