Mangoceuticals (NASDAQ:MGRX) Acquires Patents for Nutraceutical Compositions and Implements Corporate Restructuring to Enhance Operations

Mangoceuticals, Inc., a Texas corporation traded on Nasdaq under the symbol MGRX, recently disclosed a series of significant corporate developments in an 8-K filing with the U.S. Securities and Exchange Commission on December 13, 2024. The company finalized a Patent Purchase Agreement with Greenfield Investments, Ltd, entailing the acquisition of patents related to nutraceutical compositions incorporating fungal compounds derived from mushrooms. These patents are expected to bolster Mangoceuticals’ innovative offerings in the nutraceutical space.

The transaction, including the purchase of the patents and the issuance of 515,000 shares of the Company’s restricted common stock as consideration, was completed on December 13, 2024. The agreement also specified terms for royalty payments from Greenfield to Mangoceuticals based on sales of products leveraging the acquired patents, starting from December 13, 2025. Additionally, Mangoceuticals granted Greenfield the right of first refusal for any future sale or offer to purchase the patents until December 13, 2027.

Simultaneously, Mangoceuticals underwent corporate restructuring involving a Parent Subsidiary Contribution Agreement with Mango & Peaches Corp., a newly formed subsidiary. The Contribution Agreement resulted in the transfer of 98% ownership of MangoRx Mexico S.A. de C.V. and 100% ownership of MangoRx UK Limited, among other assets, to Mango & Peaches. In exchange, Mangoceuticals received 4,999,999 shares of Mango & Peaches’ common stock, consolidating its ownership.

Moreover, the company entered into an Amended and Restated Executive Employment Agreement with its Chief Executive Officer, Jacob D. Cohen. The agreement broadens Mr. Cohen’s role to include leadership positions both at Mangoceuticals and its subsidiary, Mango & Peaches. It extends Mr. Cohen’s tenure through December 1, 2027, and establishes enhanced compensation terms, bonuses, and stock options tied to operational milestones.

The recently disclosed acquisitions and corporate arrangements mark strategic moves by Mangoceuticals to solidify its position in the nutraceutical market and enhance operational efficiencies. These initiatives are expected to drive product innovation, expand market reach, and optimize corporate governance.

For more detailed information on the above transactions and agreements, including the full texts of the agreements, interested parties can refer to the original 8-K filing available on the U.S. Securities and Exchange Commission’s website.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Mangoceuticals’s 8K filing here.

About Mangoceuticals

Mangoceuticals, Inc develops, markets, and sells various men's wellness products and services through a telemedicine platform in the United States. It offers erectile dysfunction (ED) products under the Mango brand and hair loss products under the Grow brand name. The company markets and sells these branded ED and hair loss products online through its website at MangoRx.com.