Shorepower Technologies, Inc. (OTC: SPEV) announced it has entered into a definitive merger agreement with Aeternum Health LLC, marking a strategic pivot from transportation electrification infrastructure to a longevity-focused healthcare platform. The merger, dated February 17, 2026, will result in Aeternum Health merging into Shorepower, with Shorepower as the surviving entity. Upon closing, the company intends to develop services, products, and solutions aimed at increasing longevity and optimizing health outcomes, leveraging a novel peptide mix technology.
Under the transaction terms, Shorepower will issue common stock representing 51% ownership to the sole member of Aeternum Health and 2,000,000 shares of Series B Preferred Stock, each with voting power equivalent to 40 common shares. Aeternum Health will contribute know-how and data related to a peptide mix for longevity and anti-aging, along with associated intellectual property, a minimum of $1.5 million in cash, and a business focused on commercializing the peptide technology. The merger is intended to qualify as a tax-free reorganization under Section 368(a) of the Internal Revenue Code.
Leadership changes accompany the merger. Jeff Kim will resign as President, CEO, and sole director, succeeded by Paul E. Mann, currently Manager of Aeternum Health. Mann brings over two decades of experience in biotechnology, healthcare investing, and public company leadership. He serves as Chairman and CEO of ASP Isotopes Inc. (Nasdaq: ASPI) and previously held senior investment roles at Soros Fund Management, Highbridge Capital, and DSAM Partners. Earlier in his career, he spent 11 years as a sell-side analyst at Morgan Stanley and Deutsche Bank, co-managing top-ranked healthcare research teams, and began as a research scientist at Procter & Gamble, named inventor on multiple skincare formulations. Mann holds an MA (Cantab) and MEng from Cambridge University in Natural Sciences and Chemical Engineering 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 the existing transportation electrification business. Financial statements and pro forma financial information for Aeternum Health will be filed within 71 calendar days of the initial Form 8-K filing. The company’s current business, Shorepower Technologies, designs and operates transportation electrification equipment, including systems for truck stops and electric transport refrigeration units, but will shift focus post-merger.
This strategic transition reflects a broader trend of companies pivoting toward high-growth healthcare sectors. The peptide technology, still in development, targets longevity and anti-aging, a market with significant potential as global populations age. However, the merger faces risks including regulatory approvals, integration challenges, and commercialization uncertainties. Forward-looking statements in the press release caution that actual results may differ materially due to these factors. The company undertakes no obligation to update projections except as required by law.
Investor relations contact remains Shorepower Technologies at (503) 892-7345, with additional information available through the company’s filings. The press release was distributed via PRISM MediaWire and is available on Newsramp at https://newsramp.com/newswire/prism.
