Apimeds settles with Inscobee, clears path for merger and $100M financing

Apimeds Pharmaceuticals US, Inc. (NYSE American: APUS) announced a settlement with Inscobee Inc. and Apimeds Inc., resolving disputes from its December 1, 2025 merger with MindWave Innovations Inc.

The settlement enables completion of the merger transactions and a previously disclosed $100 million PIPE financing. APUS common stock is expected to resume trading on the NYSE American on Tuesday, May 5, 2026, subject to NYSE approval.

Under the agreement, the Inscobee parties confirmed that stockholder support and lock-up agreements remain valid, while prior written stockholder consents to remove company directors are void. Dr. Vin Menon continues as co-chief executive officer alongside Sungjoon Chae, who leads the Newco subsidiary.

Lōkahi Therapeutics will secure rights to the Apitox program, including intellectual property, regulatory materials, and development data. The company will pay APUS $4 million within five business days of the settlement's effective date. APUS will assign a $2.2 million Prevail CRO credit facility to Lōkahi and distribute 51% of Lōkahi's common stock as directed by former CEO Erik Emerson, retaining 49%.

The settlement establishes formation of Newco, a wholly owned APUS subsidiary, within seven business days. Ten percent of APUS financing proceeds will be allocated to Newco, with 90% going to MindWave. Newco is expected to spin off within twelve months.

Apimeds Pharmaceuticals US develops non-opioid, biologic-based therapies for pain management. MindWave Innovations provides institutional digital asset treasury solutions and blockchain-integrated operations.

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