DataMEDS AI, Inc. filed a Form 8-K on November 5, 2026, disclosing that it terminated, effective November 3, 2026, a Second Amended and Restated Letter of Intent with six counterparties including EOS Technology Holdings, Inc. and Scilex Holding Company.

Key Highlights

  • LOI terminated: DataMEDS AI provided written notice to all six counterparties on November 3, 2026, terminating the LOI effective immediately.
  • Six counterparties named: EOS Technology Holdings, Inc., Scilex Holding Company, Datavault AI Inc., HealthBridge Advisors, LLC, Tollo Health, Inc., and REBOOT Health AI, Inc. were all parties to the terminated LOI.
  • Original LOI dated October 19, 2026: The Second Amended and Restated Letter of Intent was entered into on October 21, 2026, and dated October 19, 2026.
  • Planned transactions cancelled: The LOI had contemplated acquisition of intellectual property from EOS and Scilex, expansion of a PharmacyChain license with Datavault, acquisition of a controlling interest in Tollo Health, LLC, and IP licensing arrangements with REBOOT, all in exchange for shares of company common stock.
  • Existing agreements preserved: According to the filing, the termination does not affect any separate agreement, including any existing license agreement with Datavault or any consulting or employment arrangements.
  • Press release issued: The company issued a press release on November 3, 2026, announcing the termination, furnished as Exhibit 99.1.

DataMEDS AI Ends Planned Multi-Party Acquisition and Licensing Arrangement

DataMEDS AI, Inc. (NASDAQ:MEDS), a Delaware-incorporated company headquartered at 3000 Bayport Drive, Suite 950, Tampa, FL 33607, disclosed in an Item 1.02 filing that it terminated a previously announced letter of intent covering several distinct transactions. The LOI, described as a Second Amended and Restated Letter of Intent dated October 19, 2026, had been entered into on October 21, 2026, with EOS Technology Holdings, Inc., Scilex Holding Company, Datavault AI Inc., HealthBridge Advisors, LLC, Tollo Health, Inc., and REBOOT Health AI, Inc.

According to the filing, the LOI had contemplated four categories of transactions: acquisition of certain intellectual property assets from EOS and Scilex; expansion of the company's existing PharmacyChain license with Datavault; acquisition of a controlling interest in Tollo Health, LLC (doing business as Health Lives Here) from HealthBridge Advisors and Tollo Health, Inc.; and intellectual property licensing and related products and services arrangements with REBOOT. All of these transactions were to be settled through the issuance of shares of the company's common stock.

The company disclosed that it provided written notice of termination to all six parties on November 3, 2026, with the termination taking effect immediately. The filing specifies that the termination is limited solely to the LOI and "does not terminate or amend any separate agreement, including any existing license agreement with Datavault, any consulting or employment arrangement or separate letters of intent between the parties." The filing further states that the termination "does not revive any prior proposal, term sheet, letter of intent or understanding superseded by the LOI." The 8-K was signed by Prashant Patel, President, on November 5, 2026.

What Was Disclosed

DataMEDS AI, Inc. reported the November 3, 2026, termination of a Second Amended and Restated Letter of Intent with six counterparties that had outlined plans for IP acquisitions, a license expansion, a controlling-interest acquisition, and IP licensing arrangements, all to be paid in company common stock.