Apolo V Acquisition Corp. and TelyRx, Inc. have announced their intent to merge, marking a significant development in the healthcare technology and capital markets sectors. The transaction aims to result in TelyRx becoming a publicly traded company through the reverse takeover of Apolo V on the TSX Venture Exchange (TSXV). A special shareholders’ meeting has been rescheduled to review these updated terms.
Apolo V Acquisition Corp., incorporated in Ontario and listed on the TSXV, operates as a capital pool company. Its core purpose is to identify and combine with promising businesses. It currently maintains no commercial operations, with assets limited to cash.
TelyRx, Inc. is a US-based, technology-driven healthcare and pharmacy services firm. Through its digital platform, TelyRx serves patients nationwide by connecting them with licensed providers for prescription access. The company operates licensed pharmacies in Florida and Texas, dispensing only FDA-approved medications and currently serving more than 97% of the US population with over 350 medication offerings.
The intended business combination is structured as a merger, with a wholly-owned subsidiary of Apolo set to combine with TelyRx. Crucially, shareholders of TelyRx will receive shares in the new, public entity based on an exchange ratio to be finalized. Apolo V’s shares are to be consolidated – the ratio has now been revised to a range of 1 new share for every 20 to 60 pre-consolidation shares – aligning interests for the merged company.
Additional restructuring will see Apolo V’s existing shares reclassified, with the new entity likely adopting the name “TelyRx Holdings Inc.” upon completion. Leadership and directorship decisions are set to favor TelyRx’s management, including its current CEO and CFO.
The special meeting of Apolo V shareholders, critical for approving the combination and the associated transactions, has been rescheduled to March 5, 2026. This postponement provides time for revised disclosure materials reflecting the updated share consolidation terms. Voting eligibility remains based on those holding shares as of January 20, 2026.
A key element of the merger is a robust concurrent financing initiative. TelyRx or its financing vehicle intends to raise up to US$40 million, expandable to US$46 million, via a private placement of subscription receipts. These funds, held in escrow, are vital to the transaction’s completion.
Upon finalizing all conditions—including regulatory and shareholder approvals and satisfying TSXV requirements—the merged business plans to carry on under TelyRx’s model, offering efficient, technology-enabled pharmacy services on a national scale. Trading of Apolo Shares will remain on hold until the deal’s closure.
While the agreement outlines a path to combine these two firms, completion remains subject to numerous regulatory, market, and shareholder-driven factors. Updated details and key financial information will be shared as the process moves forward, following full compliance with TSXV and securities regulations.