Scorpius Holdings Adjusts Agreement with Elusys, Secures Cash Payment

Scorpius Holdings (SCPXD) has provided an announcement.

Scorpius Holdings, Inc. has reached an agreement with Elusys Holdings Inc. to cancel a $750,000 promissory note, originally set at a 1% non-convertible rate, in exchange for an adjustment to their prior Purchase Agreement. This new arrangement abolishes any royalty fees due to Scorpius and instead secures a $2.5 million cash payment to be made by Elusys Holdings by the end of 2028. This strategic financial maneuver is expected to have significant implications for both companies involved.

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