DSS, Inc.’s Subsidiary, Impact BioMedical Inc., Announces Strategic Merger
DSS, Inc. (NYSE American: DSS) has announced that its subsidiary, Impact BioMedical Inc., will merge with Dr. Ashleys Limited, a global pharmaceutical company. The reverse merger will create a new entity listed on NYSE American as "Dr Ashleys Limited". Following various equity conversions, DSS will hold 4.80% ownership in the combined company.
The merger combines Dr. Ashleys' pharmaceutical manufacturing and commercialization capabilities with Impact BioMedical's innovation platform. The transaction aligns with DSS's strategy of unlocking shareholder value through subsidiary development and monetization. The merged company will be managed by Dr. Ashleys' team, pending shareholder and regulatory approvals.
DSS, Inc. (NYSE American: DSS) ha annunciato che la sua controllata, Impact BioMedical Inc., si fonderà con Dr. Ashleys Limited, un'azienda farmaceutica globale. La fusione inversa darà vita a una nuova entità quotata sul NYSE American con il nome "Dr Ashleys Limited". Dopo varie conversioni azionarie, DSS deterrà una partecipazione del 4,80% nella società risultante.
La fusione unisce le capacità di produzione e commercializzazione farmaceutica di Dr. Ashleys con la piattaforma innovativa di Impact BioMedical. L'operazione è in linea con la strategia di DSS di valorizzare gli azionisti attraverso lo sviluppo e la monetizzazione delle controllate. La gestione della società fusa sarà affidata al team di Dr. Ashleys, in attesa delle approvazioni degli azionisti e degli enti regolatori.
DSS, Inc. (NYSE American: DSS) ha anunciado que su subsidiaria, Impact BioMedical Inc., se fusionará con Dr. Ashleys Limited, una compañía farmacéutica global. La fusión inversa creará una nueva entidad que cotizará en NYSE American como "Dr Ashleys Limited". Tras varias conversiones de acciones, DSS tendrá una participación del 4,80% en la empresa combinada.
La fusión combina las capacidades de fabricación y comercialización farmacéutica de Dr. Ashleys con la plataforma innovadora de Impact BioMedical. La transacción está alineada con la estrategia de DSS de desbloquear valor para los accionistas mediante el desarrollo y monetización de subsidiarias. La empresa fusionada será gestionada por el equipo de Dr. Ashleys, sujeto a la aprobación de accionistas y reguladores.
DSS, Inc. (NYSE American: DSS)는 자회사인 Impact BioMedical Inc.가 글로벌 제약회사인 Dr. Ashleys Limited와 합병할 것이라고 발표했습니다. 이번 역합병을 통해 "Dr Ashleys Limited"라는 이름으로 NYSE American에 상장된 새로운 법인이 탄생합니다. 여러 주식 전환 후 DSS는 합병 회사의 4.80% 지분을 보유하게 됩니다.
이번 합병은 Dr. Ashleys의 제약 제조 및 상업화 역량과 Impact BioMedical의 혁신 플랫폼을 결합합니다. 이 거래는 자회사 개발 및 수익화로 주주 가치를 극대화하려는 DSS의 전략과 부합합니다. 합병 회사는 주주 및 규제 기관의 승인 후 Dr. Ashleys 팀이 관리할 예정입니다.
DSS, Inc. (NYSE American : DSS) a annoncé que sa filiale, Impact BioMedical Inc., fusionnera avec Dr. Ashleys Limited, une entreprise pharmaceutique mondiale. La fusion inversée créera une nouvelle entité cotée au NYSE American sous le nom de « Dr Ashleys Limited ». Après diverses conversions d’actions, DSS détiendra 4,80 % de la société combinée.
La fusion associe les capacités de fabrication et de commercialisation pharmaceutique de Dr. Ashleys à la plateforme d’innovation d’Impact BioMedical. Cette opération s’inscrit dans la stratégie de DSS visant à libérer de la valeur pour les actionnaires par le développement et la monétisation de ses filiales. La société fusionnée sera dirigée par l’équipe de Dr. Ashleys, sous réserve des approbations des actionnaires et des autorités réglementaires.
DSS, Inc. (NYSE American: DSS) hat bekannt gegeben, dass seine Tochtergesellschaft Impact BioMedical Inc. mit Dr. Ashleys Limited, einem globalen Pharmaunternehmen, fusionieren wird. Die Rückwärtsfusion wird eine neue Gesellschaft schaffen, die an der NYSE American unter dem Namen "Dr Ashleys Limited" gelistet sein wird. Nach verschiedenen Aktienumwandlungen wird DSS einen Anteil von 4,80% an dem kombinierten Unternehmen halten.
Die Fusion vereint die pharmazeutischen Herstellungs- und Vermarktungskompetenzen von Dr. Ashleys mit der Innovationsplattform von Impact BioMedical. Die Transaktion entspricht der Strategie von DSS, den Aktionärswert durch Entwicklung und Monetarisierung von Tochtergesellschaften zu steigern. Das fusionierte Unternehmen wird vom Team von Dr. Ashleys geleitet, vorbehaltlich der Zustimmung von Aktionären und Aufsichtsbehörden.
- Strategic merger provides DSS shareholders exposure to a larger, globally positioned pharmaceutical company
- Transaction validates DSS's strategy of creating value through subsidiary development
- Merger combines Impact's innovative pipeline with Dr. Ashleys' global infrastructure and commercial expertise
- DSS will maintain 4.80% ownership in the newly formed public entity
- Significant ownership dilution as DSS will only retain 4.80% stake in the combined entity
- Loss of direct control over Impact BioMedical's operations
- Transaction subject to various regulatory approvals and closing conditions
Insights
DSS subsidiary Impact BioMedical merges with Dr. Ashleys, giving DSS 4.8% stake in new NYSE-listed entity as part of value creation strategy.
DSS Inc. has announced a strategic reverse merger between its subsidiary Impact BioMedical and Dr. Ashleys Limited, a global pharmaceutical company. This transaction represents a significant milestone in DSS's corporate strategy of unlocking shareholder value through advancing subsidiaries toward independent public listings.
The newly formed entity will trade on the NYSE American under the name "Dr Ashleys Limited," with DSS retaining a 4.80% ownership stake in the combined company. This structure allows DSS to maintain equity exposure to a larger, globally positioned pharmaceutical company while potentially realizing value from its subsidiary.
Prior to closing, several financial maneuvers will occur, including conversion of preferred stock, exercise of debt-to-equity rights, and cancellation of in-the-money options and warrants for Impact shares. These actions are designed to simplify the ownership structure and strengthen DSS's position in the new entity.
The strategic rationale centers on combining Impact's innovation platform with Dr. Ashleys' pharmaceutical manufacturing and commercialization capabilities. For DSS investors, this represents execution on the company's stated strategy of creating standalone public entities from its diverse subsidiaries.
The transaction has received unanimous approval from both companies' boards of directors but remains subject to Impact shareholder approval, regulatory clearances, and other customary closing conditions including SEC registration and NYSE listing approval. Post-closing, Dr. Ashleys' management team will operate the combined entity with a newly assembled board of directors.
NEW YORK, June 24, 2025 (GLOBE NEWSWIRE) -- DSS, Inc. (NYSE American: DSS) (“DSS” or the “Company”), a multinational company operating across diverse industries including packaging, wealth management, and biohealth innovation, today announced that its subsidiary, Impact BioMedical Inc. (“Impact”), has entered into a definitive merger agreement (the “Merger Agreement”) with Dr. Ashleys Limited (“Dr. Ashleys”), a global pharmaceutical company.
Under the terms of the agreement, Dr. Ashleys will acquire Impact through a reverse merger that will result in a newly formed combined entity (the “PubCo”) traded on the NYSE American under the name “Dr Ashleys Limited.”
This strategic transaction marks an important milestone not only for Impact, but also for DSS, as it reflects a successful outcome in the overall Company strategy to unlock value across the portfolio and for its shareholders by advancing key subsidiaries toward independent public listings and/or other exit opportunities.
Strategic Rationale
The combination of Dr. Ashleys’ extensive pharmaceutical manufacturing and commercialization capabilities with Impact BioMedical’s innovation-driven platform positions the combined company to accelerate the development of groundbreaking therapies.
Under the terms of the Merger Agreement, a series of conversion and equity alignment actions are contemplated to simplify ownership and strengthen DSS’s strategic position in the newly formed public entity (“PubCo”) immediately prior to closing. This includes the conversion of Impact’s Series A Preferred Stock, the exercise of DSS’s debt-to-equity rights under its promissory note, and the cancellation of in-the-money Impact options and warrants for Impact shares. These shares, including those held by DSS, will be converted into PubCo ordinary shares, representing
For DSS, this transaction extends its equity interest to a larger, globally positioned pharmaceutical company. It offers an opportunity to participate in the growth potential of a public entity with a portfolio of intellectual property, R&D capabilities, and international market reach.
“This transaction reflects our continued commitment to unlocking shareholder value through the strategic development and monetization of our subsidiaries,” said Jason Grady, CEO of DSS, Inc. “We believe the combination of Impact’s disruptive pipeline with Dr. Ashleys’ global infrastructure and commercial expertise will establish a robust, scalable biopharmaceutical platform. It further validates our strategy of creating long-term value by preparing our key assets for public market growth.”
Advancing the DSS Strategic Roadmap
This transaction represents the latest milestone in DSS’s broader strategy to structure and scale its diverse subsidiaries as standalone public entities, unlocking value through spin-offs, strategic transactions, and public listings.
Transaction Overview
Under the terms of the Merger Agreement, a merger subsidiary incorporated in Nevada as a PubCo subsidiary will merge with and into Impact, with Impact being the surviving entity. Simultaneously with or immediately following the merger, the PubCo shall acquire all of the issued and outstanding shares of Dr. Ashleys Bio Labs Limited, a Cayman Islands exempted company holding all shares of Dr. Ashleys. As a result of the Transaction, Impact and Dr. Ashleys shall become wholly-owned subsidiaries of PubCo. Upon closing, the PubCo will be operated by the management team of Dr. Ashleys, with a new Board of Directors to be assembled by Dr. Ashleys.
The Boards of Directors of both Dr. Ashleys and Impact have unanimously approved the proposed Transaction, subject to, among other things, approval by Impact’s shareholders, and satisfaction (or waiver, as applicable) of the conditions provided in the Merger Agreement, including regulatory approvals and other customary closing conditions, including an effective registration statement on Form F-4 or S-4 in connection with the proposed Transaction being declared effective by the U.S. Securities and Exchange Commission (the “SEC”) and the approval of listing applications with the New York Stock Exchange.
Additional information about the proposed Transaction, including a copy of the Merger Agreement, has been provided in a Current Report on Form 8-K filed by Impact with the SEC and available at www.sec.gov. Additional information about the proposed Transaction will be described in the registration statement on Form F-4 or S-4, which will be filed by the newly formed PubCo with the SEC.
About DSS, Inc.
DSS, Inc. (NYSE American: DSS) is a multinational company operating across multiple business lines including health and wellness, packaging, real estate, and securities and blockchain. The Company operates a business model based on developing high-growth subsidiaries and unlocking value through strategic IPOs and public listings. For more information, visit www.dssworld.com.
Forward-looking Statements:
The foregoing material may contain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, each as amended. Forward-looking statements include all statements that do not relate solely to historical or current facts, including without limitation statements regarding the Company’s product development and business prospects, and can be identified by the use of words such as “may,” “will,” “expect,” “project,” “estimate,” “anticipate,” “plan,” “believe,” “potential,” “should,” “continue” or the negative versions of those words or other comparable words. Forward-looking statements are not guarantees of future actions or performance. These forward-looking statements are based on information currently available to the Company and its current plans or expectations and are subject to a number of risks and uncertainties that could significantly affect current plans. Should one or more of these risks or uncertainties materialize, or the underlying assumptions prove incorrect, actual results may differ significantly from those anticipated, believed, estimated, expected, intended, or planned. Although the Company believes that the expectations reflected in the forward-looking statements are reasonable, the Company cannot guarantee future results, performance, or achievements. Except as required by applicable law, including the security laws of the United States, the Company does not intend to update any of the forward-looking statements to conform these statements to actual results.
For investor and media inquiries or additional information, please contact:
Investor Contact:
DSS, Inc.
Investor Relations
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+1 (585) 565-2422
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