Apimeds Pharmaceuticals US, Inc. 8-K

What Happened
Apimeds Pharmaceuticals US, Inc. (APUS) reported on March 20, 2026 that majority stockholders (Inscobee and Apimeds Korea), who beneficially own at least 66 2/3% of voting power, delivered a written consent removing four directors (Elona Kogan, Jakap Koo, Carol O’Donnell and Dr. Bennett Weintraub) and appointing three new directors (Youngjik Cho, Minguk Ji and Junyoung Yu), effective immediately. Following those appointments the Board removed Dr. Vin Menon as CEO and Erick Frim as CFO and appointed Youngjik Cho as CEO and Chairman and Junyoung Yu as Secretary, effective March 20, 2026. The stockholder action followed requests by the majority holders for books and records and concerns about representations related to the Company’s previously reported merger with MindWave Innovations Inc., including MindWave’s asserted ownership of certain digital assets.

Key Details

• Action date: written consent delivered March 20, 2026; Definitive Proxy (Schedule 14C) filed February 27, 2026 noted stockholder approval effective March 25, 2026 (20 days after mailing).
• Control: Inscobee and Apimeds Korea (with other holders) represent at least 66 2/3% of voting power and used written consent to effect removals and appointments.
• Leadership changes: Dr. Vin Menon removed as CEO; Erick Frim removed as CFO; Youngjik Cho named CEO and Chairman; Junyoung Yu named Secretary.
• Governance changes: Bylaws amended to allow holders of a majority of voting power to fill Board vacancies and to confirm that bylaw amendments may be approved by a majority of voting power. Messrs. Ji and Yu were determined to be independent under SEC and NYSE American rules.

Why It Matters
This 8‑K documents a material governance and leadership change driven by controlling stockholders. For investors, the immediate implications are (1) a new board and executive leadership that may re-evaluate prior transactions (including the MindWave merger and related agreements), (2) greater control by majority holders over board composition and bylaws, and (3) potential operational or strategic shifts while the new board reviews the Company’s books, records and past decisions. Shareholders should monitor upcoming filings and disclosures for any further actions, investigations, litigation, or strategic changes resulting from the new board’s review.