Shares of Bio Green Med Solution, Inc. (BGMS) jumped more than 186% overnight following the announcement of a definitive Business Combination Agreement to acquire Future NRG Sdn. Bhd., a Malaysia-based technology integrator specializing in sustainable medical waste management.
Bio Green Med Solution, headquartered in Kuala Lumpur, engages in distributing and installing fire safety equipment and systems, alongside research and development in pharmaceuticals. The company was formerly known as Cyclacel Pharmaceuticals, Inc. before rebranding in 2022.
Under the agreement, Future NRG will become a wholly owned subsidiary of BGMS through an all-stock share exchange. The combined entity will continue operating under the Bio Green Med Solution name and trade on the Nasdaq Capital Market under the ticker BGMS. The transaction is subject to shareholder approvals and regulatory conditions under Delaware and Malaysian corporate law.
The Transaction is expected to close in the fourth quarter of 2026 subject to shareholder approval of both companies, the effectiveness of a registration statement to be filed with the U.S.
Future NRG serves numerous healthcare waste generators, including clinics, dialysis centers, laboratories, and factories, offering advanced waste-to-energy and waste-to-resource projects. Integration with BGMS's Fitters subsidiary, which provides certified fire safety solutions, is expected to create a bundled compliance platform spanning clinical waste disposal and fire protection equipment.
Management noted that the combined company will be led by Datuk Dr. Doris Wong, current CEO and Executive Director of BGMS, with continuity across most of the existing board. The deal is positioned to strengthen BGMS's environmental and safety portfolio, diversify revenue streams, and enhance customer retention.
The company implemented a 1-for-15 reverse stock split on July 7, 2025.
BGMS closed Thursday's trading at $1.06. During overnight trading the stock is at $3.04, up 186.79%.
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