Progressive Care Inc. Announces Results of Special Meeting of Stockholders

Business Combination with NextPlat Corp Approved by Shareholders with Anticipated Closing Date of October 1, 2024 MIAMI , Sept. 16, 2024 /PRNewswire/ -- Progressive Care Inc. (OTCQB: RXMD ) ("Progressive Care" or the "Company"), a personalized healthcare services and technology provider, today announced the results of the Company's Special Meeting of Stockholders (the "Special Meeting") held on September 13, 2024 .

At the Special Meeting, shareholders were asked to vote on a proposal to approve and adopt the Merger Agreement and Plan of Reorganization pursuant to which the Company, a controlled subsidiary of NextPlat Corp (Nasdaq: NXPL & NXPLW), would become a wholly-owned subsidiary of NextPlat, and the transactions contemplated thereby (the "Business Combination"). At the Special Meeting, the Company's shareholders approved the Business Combination. Additionally, at NextPlat's Annual Meeting held on September 13, 2024 , NextPlat's shareholders also approved the Business Combination.

The Company expects the closing of the Business Combination to occur on October 1, 2024 , subject to the satisfaction of additional closing conditions, at which point, Progressive Care's common stock will cease to be outstanding and Progressive Care will become a wholly-owned subsidiary of NextPlat. Under terms of the Merger Agreement, Progressive Care shareholders will receive 1.4865 newly issued shares of NextPlat's common stock for each share of Progressive Care common stock they own immediat.