Shorepower Technologies, Inc. (OTC: SPEV) announced on February 24, 2026, that it has entered into a merger agreement with Aeternum Health LLC, marking a dramatic shift from its core business of transportation electrification infrastructure to a longevity-focused healthcare platform. The transaction, structured as a tax-free reorganization under Section 368(a) of the Internal Revenue Code, will see Shorepower issue common stock representing 51% ownership to Aeternum Health's sole member, along with 2,000,000 shares of Series B Preferred Stock carrying enhanced voting rights.
The merger brings together Shorepower's public listing with Aeternum Health's novel peptide-based anti-aging technology, including associated intellectual property and know-how. Aeternum Health will contribute a minimum of $1.5 million in cash and a business dedicated to commercializing the peptide mix. Upon closing, the combined entity plans to rebrand as Aeternum Health Inc. and spin off Shorepower's existing transportation electrification assets.
Leadership changes accompany the strategic pivot. Jeff Kim will step down as President, CEO, and sole director, to be succeeded by Paul E. Mann, Manager of Aeternum Health. Mann brings extensive experience in biotechnology and healthcare investing, having served as Chairman and CEO of ASP Isotopes Inc. (Nasdaq: ASPI), and previously held senior roles at Soros Fund Management, Highbridge Capital, and DSAM Partners. He also spent 11 years as a sell-side analyst at Morgan Stanley and Deutsche Bank, and began his career as a research scientist at Procter & Gamble, with multiple skincare formulation patents. Mann holds an MA (Cantab) and MEng from Cambridge University and is a CFA charterholder.
The transaction underscores a growing trend of public companies pivoting to high-growth sectors like longevity and anti-aging. For Shorepower, which designs and manufactures electrification equipment for truck stops and electric vehicles, the move represents a complete exit from its legacy operations. The company plans to increase its authorized common shares to 250 million and will file financial statements and pro forma information for Aeternum Health within 71 calendar days of the initial Form 8-K filing.
Forward-looking statements in the press release caution that the merger's completion is subject to regulatory and stockholder approvals, integration risks, and financing availability. The success of the peptide technology will depend on development, regulatory clearance, and market acceptance. Readers are advised that forward-looking statements involve uncertainties and should not be unduly relied upon.
The announcement positions Aeternum Health to leverage Shorepower's public market presence while focusing on health optimization. As the longevity sector attracts increasing investment, this merger highlights the strategic value of combining novel scientific assets with public company infrastructure.
