On December 1, 2025, Apimeds Pharmaceuticals US, Inc. completed a merger with MindWave Innovations Inc., where MindWave became a wholly owned subsidiary of Apimeds, with 90.9% of Apimeds' equity capital issued to MindWave's shareholders as part of the transaction. This merger involves a stock conversion process where existing shareholders will receive capital stock from Apimeds under specific terms outlined in the Merger Agreement.