Bond.az reports: Cosmos Health Inc. (NASDAQ:COSM) announced that its Series B warrants expired unexercised on Monday at 5:00 p.m. New York City time. The warrants had an exercise price of $0.95 per share and represented 4,874,126 warrant shares, equal to approximately 38% of the company's total outstanding warrants.
The expiration resulted in no new shares being issued and no dilution to existing shareholders. The news comes as the stock trades at $0.25, near its 52-week low, with shares down roughly 40% over the past year. The company carries a market capitalization of $14.42 million.
Cosmos Health is a diversified, vertically integrated global healthcare group incorporated in 2009 in Nevada. The company owns a portfolio of pharmaceutical and nutraceutical brands and manufactures products through its subsidiary Cana Laboratories S.A., licensed under European Good Manufacturing Practices and certified by the European Medicines Agency.
Greg Siokas, Chief Executive Officer of Cosmos Health, stated: 'The expiration of these warrants is a positive development for our shareholders. The elimination of 4.87 million warrant shares - representing almost 38% of our total outstanding warrants - meaningfully reduces our dilution overhang and reflects our ongoing commitment to a cleaner, more shareholder-friendly capital structure.'
The company distributes pharmaceuticals and parapharmaceuticals to retail pharmacies and wholesale distributors through subsidiaries in Greece and the UK. Cosmos Health has also entered the telehealth space through the acquisition of ZipDoctor, Inc., based in Texas.
In other recent news, Cosmos Health Inc. reported first-quarter revenue of $17.93 million, marking a 30.7% increase compared to the same period last year. The company is also pursuing up to €25 million in financing from the European Investment Bank to support its R&D program.
