HeartSciences Inc. entered into a subscription agreement with Fortitude Mining Holdings, Inc., according to a filing with the SEC, under which Fortitude agreed to purchase $999,998.46 of HeartSciences common stock.
The subscription agreement, dated August 12, 2026, states that on June 23, 2026, HeartSciences entered into an Agreement and Plan of Merger with Fortitude Mining Holdings, Fortitude Mining HoldCo, LLC and Cordis Acquisition, LLC, which was amended on July 27, 2026.
Under the terms of that merger agreement, Cordis Acquisition, LLC, a wholly-owned subsidiary of HeartSciences, will merge into Fortitude Mining HoldCo, LLC, with Fortitude HoldCo surviving as a subsidiary of HeartSciences and HeartSciences becoming the sole managing member of the surviving company, the filing said.
The filing states that the purchase price per share for the newly subscribed shares will equal the volume-weighted average price of HeartSciences common stock on the Nasdaq Stock Market over the 30 consecutive trading days ending on the trading day immediately before the agreement was signed. The number of shares to be issued will be calculated by dividing the total purchase price by that per-share price, rounded down to the nearest whole share.
According to the agreement, HeartSciences will use the net proceeds from the stock sale solely for operating expenses expected to be incurred before the merger is completed. The filing outlines closing conditions, including delivery of the purchase price by Fortitude via wire transfer and issuance of the shares by HeartSciences no later than the next business day following closing.
$HSCSWHeartSciences Inc.Net sentiment—Mentions · 30d—Avg volume570View on the dashboardFinazon · prior-day close · Sep 9, 2026