[6-K] Prestige Wealth Inc. Current Report (Foreign Issuer)

Rhea-AI Filing Summary

Streamline Health Solutions, Inc. (Nasdaq: STRM) has filed a preliminary Schedule 14A seeking stockholder approval for its $5.34-per-share all-cash merger with Mist Holding Co., the parent of MDaudit. At closing, Merger Sub will merge into Streamline, which will become a wholly-owned subsidiary of MDaudit and cease to be publicly traded.

Key economic terms

• Cash consideration of $5.34 per share, representing a 138 % premium to the 5/28/25 close and 117 % to the 30-day VWAP.
• No financing contingency; Parent states it has sufficient cash on hand to fund the deal and related costs.
• Options and warrants with exercise prices below $5.34 will be cashed-out; all currently outstanding options and warrants are “out-of-the-money” and will be cancelled for no consideration.
• Termination fee payable by Streamline to Parent is $950 K; no reverse termination fee disclosed.

Governance & process

• The Streamline Board unanimously approved the merger, deemed it fair, and recommends voting “FOR” all proposals.
• Cain Brothers rendered a fairness opinion to the Board on 5/28/25.
• Certain directors and officers entered into Voting & Support Agreements, committing their shares to support the transaction (exact percentage not yet specified).
• Completion requires the affirmative vote of at least 66 2/3 % of outstanding shares. Failure to vote counts as an “AGAINST.”

Timeline & conditions

• Special Meeting will be held virtually on a date to be set; record date also to be set.
• Expected closing is Q3 2025, subject to stockholder approval and customary conditions (no financing or regulatory conditions highlighted).
• Outside date for termination is 12/31/25.

Post-closing the STRM shares will be delisted from Nasdaq and deregistered under the Exchange Act. Stockholders who properly perfect appraisal rights under Delaware law may seek a court-determined “fair value” instead of the $5.34 cash payment.

Positive

• 138 % cash premium to the unaffected share price provides immediate, above-market value to shareholders.
• No financing contingency; Parent has sufficient cash on hand, boosting deal certainty.
• Board unanimously supports the merger and obtained an independent fairness opinion.
• Modest $950 K termination fee preserves the possibility of a superior proposal.
• Support Agreements with certain insiders align management interests with transaction completion.

Negative

• Super-majority vote (66 2/3 %) creates meaningful closing risk; abstentions count as ‘AGAINST.’
• No-solicitation covenant restricts Streamline from actively seeking higher bids.
• Failure to vote by retail shareholders could derail the deal despite board backing.
• Options and warrants are out-of-the-money and will be cancelled, potentially dissatisfying some holders.
• Termination outside date of 12/31/25 could push closing into 2026 if delays occur.

Insights

M&A Specialist

TL;DR Cash deal offers 138 % premium, no financing risk; high approval threshold is main hurdle.

From an M&A standpoint this transaction is straight‐forward and highly favorable to public holders. The $5.34 price implies an enterprise value well above Streamline’s unaffected market capitalization and is entirely in cash, eliminating execution risk tied to equity valuations. Importantly, Parent has certified adequate funds, so there is no financing condition or reverse termination fee. The termination fee of $950 K (≈1 % of equity value) is modest and unlikely to deter a superior bid should one emerge. Support Agreements from insiders further de-risk closing, though the exact ownership percentage remains undisclosed. Overall, the proposal delivers immediate, certain value and aligns with best-practice processes (fairness opinion, fiduciary out clauses). Key watch-item is the super-majority vote requirement: non-voting shares count as ‘AGAINST,’ making solicitation critical.

Portfolio Manager

TL;DR Premium attractive but super-majority vote, modest break-fee and board lock-up temper certainty.

For portfolio holders, the 138 % premium crystallizes considerable upside versus pre-deal prices. However, approval demands 66 2/3 % of all shares outstanding, not just those present, raising the possibility of failure if retail investors are apathetic. The board’s no-solicitation covenant plus low break-fee could still allow topping offers, yet timing is tight under the 12/31/25 outside date. Delisting eliminates future upside participation in Streamline’s turnaround but guarantees liquidity now. Risk-reward skews positive, but I would monitor vote tallies closely and maintain a modest discount to the $5.34 consideration when pricing the shares until proxy results firm up.

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16

UNDER THE SECURITIES EXCHANGE ACT OF 1934

For the month of June 2025

Commission File Number: 001-41734

Prestige Wealth Inc.

Office Unit 6620B, 66/F, The Center

99 Queen’s Road Central

Central, Hong Kong

(Address of principal executive office)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:

Form 20-F ☒          Form 40-F ☐

On June 25, 2025, Prestige Wealth Inc. (the “Company”) entered into a definitive share purchase agreement pursuant to which the Company agreed to sell all of the issued and outstanding shares of Prestige Assets International Inc. (“PAII”), a wholly owned subsidiary incorporated in the British Virgin Islands, and three subsidiaries of PAII, namely Prestige Asset Management Limited, Prestige Global Asset Management Limited and Prestige Global Capital Inc., operating asset management business, to a third party. The transaction closed on the same day. The divestiture of asset management business allows the Company to focus on its technology driven innovation in wealth management business.

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

	Prestige Wealth Inc.
Date: June 30, 2025	By:	/s/ Kazuho Komoda
	Name:	Kazuho Komoda
	Title:	Chief Executive Officer and Chairman

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FAQ

What premium does the $5.34 offer represent for STRM shareholders?

The cash price equals a 138 % premium to the 5/28/25 close and 117 % over the 30-day VWAP.

What vote is required for Streamline (STRM) to approve the merger?

At least 66 2/3 % of all outstanding common shares must vote "FOR" the Merger Proposal.

Is the transaction subject to financing or regulatory conditions?

Parent affirmed it has sufficient cash; the merger carries no financing condition. Only customary legal injunction conditions apply.

When is the Streamline merger expected to close?

Management targets Q3 2025, with an outside termination date of 12/31/25.

What happens to my STRM shares if the merger closes?

Each share converts into $5.34 cash; the stock will be delisted and deregistered.

Do shareholders have appraisal rights under Delaware law?

Yes. Holders who do not vote FOR the merger and follow Section 262 procedures may seek a court-determined fair value.