Wellgistics Health converts $8.1M debt to equity

Wellgistics Health (WGRX) Board of Directors has approved an $8.1M debt-to-equity conversion. Led by CEO Brian Norton and former minority partners of Wellgistics, which was acquired by Wellgistics Health in 2024, the transaction strengthens the Company’s balance sheet by materially reducing the Company’s short-term debt. The transaction is also expected to: Accelerate the Company’s cash flow by unlocking more favorable terms and capital access; Improve Wellgistics Health’s ability to acquire high-demand pharmaceutical products at competitive prices; Expand the Company’s national footprint by growing its network of independent pharmacies; and Strengthen the Company’s proprietary technology platform, including AI-powered hub services and digital prescription routing