The business combination results Clacendix to change its name to HealthWarehouse.com. Under the securities exchange agreement, Clacendix acquired all the outstanding capital stock of HealthWarehouse.com from the existing stockholders of HealthWarehouse.com in exchange for newly-issued shares of Clacendix common stock.
HealthWarehouse.com, as a result of the share exchange, is now a wholly-owned subsidiary of Clacendix and the former HealthWarehouse.com stockholders will own, on a post-transaction basis, approximately 82.4% of the outstanding common stock of Clacendix. HealthWarehouse.com, a licensed US online mail-order pharmacy, is working to revolutionise the way Americans purchase prescription drugs and healthcare products.
Upon the close of the business combination, the company appointed Lalit Dhadphale as chairman, president and CEO, in addition to his duties as a director of HealthWarehouse.com he will serve as director of the combined company. Patrick E. Delaney will continue the role of chief financial officer at Clacendix.