Shorepower Technologies, Inc. (OTC: SPEV) announced a merger agreement with Aeternum Health LLC on February 17, 2026, marking a strategic shift from 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 a 51% ownership stake to Aeternum Health’s sole member, along with 2,000,000 shares of Series B Preferred Stock with enhanced voting rights.
Under the terms, Aeternum Health will contribute at least $1.5 million in cash, know-how and data related to a novel peptide mix for longevity and anti-aging, associated intellectual property, and a business for commercializing the peptide technology. The combined entity intends to develop services, products, and solutions aimed at increasing longevity and optimizing health outcomes.
Leadership changes accompany the merger. Jeff Kim will resign as President, CEO, and sole director of Shorepower. Paul E. Mann, Manager of Aeternum Health, will assume the roles of President, CEO, and board member upon closing. Mann brings over two decades of experience in biotechnology, healthcare investing, and public company leadership, including his current role as Chairman and CEO of ASP Isotopes Inc. (Nasdaq: ASPI). He previously held senior investment roles at Soros Fund Management, Highbridge Capital, and DSAM Partners, and began his career as a research scientist at Procter & Gamble, with multiple skincare formulation patents.
Corporate actions planned include a name change to Aeternum Health Inc., an increase in authorized common shares to 250 million, and a spin-out of Shorepower’s existing transportation electrification business. Financial statements and pro forma financial information for Aeternum Health will be filed within 71 calendar days of the initial Form 8-K filing.
This strategic pivot reflects a growing trend of companies entering the longevity and health optimization market. The peptide technology in development targets age-related decline, a sector attracting significant investment due to aging populations and increasing demand for preventive healthcare. If successful, the merger could position Aeternum Health as a player in the peptide-based therapeutics space, though risks remain, including integration challenges, regulatory hurdles, and market acceptance of the new platform.
Shorepower’s decision to exit transportation electrification underscores the competitive nature of that industry and the allure of high-growth healthcare opportunities. The company’s existing shareholders will see their stake diluted to 49% post-merger, with newly issued preferred shares giving Aeternum Health controlling voting power. The transaction requires stockholder and regulatory approvals, and there is no guarantee of completion.
The announcement was made via PRISM MediaWire and is subject to forward-looking statements, including risks related to financing, intellectual property protection, and economic conditions. Shorepower Technologies, Inc. is listed on the OTC under the ticker SPEV.
