Coeptis Therapeutics Holdings, Inc. announced on February 5, 2026 that its shareholders had approved the previously disclosed merger with Z Squared Inc. The approval vote actually took place on January 30, 2026, clearing the final shareholder hurdle and allowing the transaction to move forward toward closing.
Under the terms of the agreement, Z Squared will become a wholly owned subsidiary of Coeptis. The combined company plans to deploy 9,800 ASIC miners across facilities in North Carolina, South Carolina and Iowa, positioning it to become the largest publicly‑traded Dogecoin‑focused mining operation in the United States.
The merger represents a dramatic strategic pivot for Coeptis, which has historically operated in the biopharmaceutical and technology sectors. Management has indicated that the company will spin off its biopharmaceutical operations, which have generated zero revenue in 2022 and 2023 and minimal revenue in 2020, 2021 and 2024, and will retain certain technology assets acquired from NexGenAI. CEO Dave Mehalick said the move “reinforces our commitment to innovation and positions COEPTIS as a self‑sustaining entity, creating a robust foundation for long‑term growth and profitability.”
Dilution concerns are significant: under the proposed structure, Z Squared shareholders could receive up to 90 % of the combined company’s shares, and the current Coeptis CEO will step down from the board. David Halabu, CEO of Z Squared, emphasized that the combined entity will be rebranded as Z Squared Inc. and is expected to list on the Nasdaq Capital Market under the ticker ZSQR, pending regulatory approval.
The announcement has been met with investor caution, reflecting concerns about the company’s shift from a loss‑making biopharmaceutical business to a highly volatile cryptocurrency mining operation and the potential dilution of existing shareholders. Management has reiterated its confidence in the mining strategy, citing the planned deployment of a large miner fleet and the anticipated revenue from Dogecoin and Litecoin mining as key drivers of future cash flow.
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