MergerMay 1, 2026, 09:31 AM
SHPH to Merge with United Dogecoin, Become Largest Public Dogecoin Miner
AI Summary
Shuttle Pharmaceuticals Holdings, Inc. (SHPH) announced a definitive merger agreement to acquire United Dogecoin Inc., aiming to become the world's largest publicly listed Dogecoin mining company. The transaction involves United Dogecoin becoming a wholly-owned subsidiary of Shuttle, with United Dogecoin equity holders receiving Series B-1 Convertible Preferred Stock and pre-funded warrants. A concurrent $11 million PIPE financing will issue Series B-2 Convertible Preferred Stock and common warrants to accredited investors. The combined entity expects to deploy 3,000 new mining rigs, achieving approximately 1.5% of the global Dogecoin mining capacity, and will be co-led by United Dogecoin's CEO, Ryan Trasolini.
Key Highlights
- Shuttle Pharmaceuticals Holdings, Inc. (SHPH) to merge with United Dogecoin Inc.
- United Dogecoin will become a direct wholly owned subsidiary of Shuttle.
- Merger consideration includes 8,000 shares of newly designated Series B-1 Convertible Preferred Stock.
- Series B-1 Preferred Stock convertible into ~32,258,064 shares of SHPH common stock at $1.24/share.
- United Dogecoin equity holders to receive up to 118,038,551 pre-funded warrants.
- Concurrent $11 million PIPE financing with 2,200 shares of Series B-2 Preferred Stock and common warrants.
- PIPE investors to receive up to 34,932,064 pre-funded warrants upon milestones.
- Combined company expects to secure 3,000 ElphaPex Mining Rigs, delivering 43,200 GH/s hash rate (~1.5% global).
- Ryan Trasolini, CEO of United Dogecoin, to become Co-Chief Executive Officer of the combined company.