Coeptis Therapeutics (COEP) said Friday its subsidiary will merge into dogecoin mining company Z Squared in Q3.
Under the merger agreement, Z Squared will become a wholly owned unit of the biotech company, and its shareholders will receive equity in Coeptis for 9,000 US-based dogecoin mining machines, the company said.
Coeptis said it plans to spin out its biopharma operations and manage them separately from the company after the deal closes.
The combined company, which will be led by Z Squared management, will prioritize advancing cryptocurrency mining capabilities, Coeptis said.
Shares of Coeptis dropped past 26% in recent Friday trading.
Price: 9.21, Change: -3.26, Percent Change: -26.14
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