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(RTTNews) - Impact BioMedical, Inc (IBO) is trading sharply higher in pre-market up nearly 115%, after the company filed a new Form 8-K detailing amendments to its merger-related agreement.

The filing, released today, outlines several updates to the company's planned business combination with Dr Ashleys Limited and affiliated entities.

According to the SEC filing, the parties have executed amendments to the Merger and Share Exchange Agreement, originally signed on June 21, 2025. The most significant change is an extension of the merger's "End Date" from March 31, 2026, to July 1, 2026, allowing additional time to satisfy closing conditions. The amendment also introduces a new requirement for board approval before Impact BioMedical enters certain loan agreements prior to the merger becoming effective.

The filing further clarifies the structure of the Company Share Consideration, confirming that Impact will receive 169,560,000 PubCo Ordinary Shares, representing 94.20% of the combined company at closing, excluding performance-based and contingent shares. Any DSS shares or compensation issued at closing will reduce this allocation. Impact BioMedical also amended its Voting and Support Agreement, updating the confirmed ownership of supporting stockholders to 92,980,843 shares, representing 88.87% on a fully diluted basis after conversion of preferred shares and promissory notes. This update ensures transparency around voting commitments tied to the merger.

A separate amendment to the Transition Arrangement Agreement adds new provisions for issuing 53,000 PubCo Ordinary Shares to DSS in connection with "Hold Harmless Obligations". These shares will be fully paid and tradable upon registration, and their issuance will proportionally reduce the overall company share consideration.

IBO has traded between $0.36 and $6.17 over the past year. The stock closed yesterday's trading at $0.41, up 0.80%. The shares rose over 115% to $0.85 during the pre-market session.

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