MergerJun 23, 2026, 08:37 AM
HeartSciences (HSCS) to Merge with Fortitude Mining; New Ticker "TUDE"
AI Summary
HeartSciences Inc. (HSCS), an AI-powered medical technology company, has entered into a definitive merger agreement with Fortitude Mining Holdings, Inc., a Zcash mining platform wholly-owned by Digital Currency Group (DCG). The all-stock transaction will result in the combined entity operating under the Fortitude brand and trading on Nasdaq under the ticker "TUDE". The merger is expected to close in the second half of 2026, with DCG anticipated to own approximately 95% of the combined company. HeartSciences' current CEO will continue to lead its healthcare business unit.
Key Highlights
- HeartSciences (HSCS) to merge with Fortitude Mining Holdings in an all-stock transaction.
- Combined company will operate under the Fortitude brand and trade on Nasdaq as "TUDE".
- Fortitude CEO Andrea Childs will lead the combined company; HeartSciences CEO Andrew Simpson to lead healthcare unit.
- Digital Currency Group (DCG), Fortitude's sole stockholder, expected to own approximately 95% of the combined company.
- Transaction is expected to close in the second half of 2026, subject to HeartSciences shareholder approval.
- Fortitude is a Zcash mining platform, currently wholly-owned by Digital Currency Group (DCG).
- HeartSciences will establish new Class V and Class A common stock, with Class V having voting but no economic rights.
- Canaccord Genuity LLC and Ducera Partners advised Fortitude; Foley Shechter Ablovatskiy LLP advised HeartSciences.
Price Impact
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