On March 20, 2026, Apimeds Pharmaceuticals US, Inc. (APUS) reported a significant development regarding its corporate governance. Inscobee Inc. (KS:006490) and its subsidiary, Apimeds Inc., have attempted a hostile takeover of Apimeds' Board of Directors through a written consent action. This action purportedly claims to remove all current board members and replace them with individuals selected by Inscobee. However, Apimeds has declared this Stockholder Consent as null and void, citing violations of Delaware law and existing contractual obligations under a Support Agreement established during a recent merger with MindWave Innovations Inc. The company asserts that the actions taken by Inscobee constitute a material breach of this agreement, which included an irrevocable proxy over shares that were improperly utilized in the takeover attempt. Apimeds plans to seek legal recourse in the Delaware Court of Chancery to affirm the validity of its current board and executives, emphasizing that no changes in leadership have occurred despite the claims made by Inscobee. The company remains committed to its merger with MindWave and will take all necessary steps to protect its shareholders and uphold its governance structure.

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