Shorepower Technologies, Inc. (OTC: SPEV) announced it has entered into an Agreement and Plan of Merger dated February 17, 2026, with Aeternum Health LLC, marking a strategic pivot from transportation electrification infrastructure to a longevity and health optimization platform. The merger, expected to close pending customary conditions, will result in Aeternum Health merging into Shorepower, with Shorepower as the surviving entity.
Under the terms, Shorepower will issue common stock representing 51% ownership to Aeternum Health's sole member, 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, at least $1.5 million in cash, and a commercialization business. The transaction is intended to qualify as a tax-free reorganization under Section 368(a) of the Internal Revenue Code.
Leadership changes accompany the merger: current President, CEO, and sole director Jeff Kim will resign, and Paul E. Mann, Manager of Aeternum Health, will assume roles as President, CEO, and sole Board member. 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, co-managing top-ranked healthcare research teams. Mann began his career as a research scientist at Procter & Gamble and is named inventor on multiple skincare formulations. He holds an MA (Cantab) and MEng from Cambridge University and 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 days of the initial Form 8-K filing.
This strategic transition underscores the growing interest in longevity-focused healthcare technologies. The peptide mix in development aims to address age-related decline, a market with significant potential as global populations age. However, the company faces risks common to early-stage biotechnology ventures, including regulatory hurdles, intellectual property challenges, and market adoption uncertainties. The merger also highlights a trend of public companies repurposing their corporate structures to enter high-growth sectors like longevity and anti-aging.
Shorepower Technologies, currently designing and manufacturing transportation electrification equipment, will divest these legacy assets following the merger. The company emphasizes that forward-looking statements, including expectations for the merger and commercialization of peptide technologies, involve risks and uncertainties that could cause actual results to differ materially. These include the ability to consummate the merger, obtain regulatory and stockholder approvals, and achieve successful product development. For more information, refer to the press release on NewsRamp.
