Shorepower Technologies, Inc. (OTC: SPEV) has entered into a merger agreement with Aeternum Health LLC, marking a strategic shift from transportation electrification to a longevity-focused healthcare platform. The merger, announced on February 24, 2026, involves Shorepower issuing a 51% stake to Aeternum Health, appointing Paul E. Mann as CEO, and transitioning to develop peptide-based solutions for longevity and health optimization.
Under the terms of the Agreement and Plan of Merger dated February 17, 2026, Aeternum Health will merge into Shorepower, with Shorepower as the surviving entity. Shorepower will issue common stock representing 51% ownership to the sole member of Aeternum Health, along with 2,000,000 shares of Series B Preferred Stock, each with voting power equal to 40 common shares. Aeternum Health will contribute know-how and data related to a novel peptide mix for longevity and anti-aging, associated intellectual property, a minimum of $1.5 million in cash, and a business for commercializing the peptide technology. The parties intend the merger to qualify as a tax-free reorganization under Section 368(a) of the Internal Revenue Code.
Leadership changes include the resignation of Jeff Kim as President, CEO, and sole director, with Paul E. Mann assuming these roles upon closing. Mann brings over two decades of experience in biotechnology, healthcare investing, and public company leadership. He currently serves as Chairman and CEO of ASP Isotopes Inc. (Nasdaq: ASPI), which he co-founded in 2021. Previously, he held senior investment roles at Soros Fund Management, Highbridge Capital, and DSAM Partners, and spent 11 years as a sell-side analyst at Morgan Stanley and Deutsche Bank. Mann began his career as a research scientist at Procter & Gamble and holds an MA and MEng from Cambridge University in Natural Sciences and Chemical Engineering. He is a CFA charterholder.
Corporate actions include a planned name change to Aeternum Health Inc., an increase in authorized common shares to 250 million, and a spin-out of Shorepower's existing transportation electrification business. Financial statements and pro forma information for Aeternum Health will be filed within 71 calendar days of the initial Form 8-K filing.
This merger represents a significant pivot for Shorepower, which previously designed and operated transportation electrification equipment, including systems for truck stops and electric transport refrigeration units. The new focus on longevity and health optimization reflects a growing market for anti-aging therapies and personalized health solutions. The peptide technology in development could address age-related decline, though commercialization and regulatory hurdles remain. The infusion of cash and expertise from Aeternum Health may accelerate development, but investors should monitor integration risks and market acceptance.
Forward-looking statements in the press release caution that actual results may differ due to risks including the ability to consummate the merger, regulatory approvals, integration challenges, financing availability, and intellectual property protection. The company undertakes no obligation to update these statements except as required by law.
For more information, visit the company's website or refer to the original press release on NewsRamp.
