New York, June 5, 2026, 09:05 EDT
Bio Green Med Solution Inc. shares were quoted at $2.86 in premarket trading on Friday, up 169.8% from the Nasdaq-listed company’s last regular close of $1.06, after it agreed to buy Malaysia’s Future NRG Sdn. Bhd. in an all-stock share exchange.
The bigger point is control, not just the headline acquisition. An all-stock exchange means sellers are paid with shares rather than cash; under the exchange formula described in Bio Green Med’s SEC filing, Future NRG’s selling shareholders would own more than 99% of the combined company, while existing BGMS holders would own less than 1%. That is heavy dilution — a current investor’s slice of the company shrinks as new stock is issued.
Regular trading had not opened at the dateline. Nasdaq’s normal session runs from 9:30 a.m. to 4 p.m. Eastern time, and June 5 is not listed as a 2026 market holiday; the exchange says premarket trading runs from 4 a.m. to 9:30 a.m. ET and tends to carry less liquidity and higher volatility.
Future NRG operates in medical-waste treatment and waste-to-energy projects. Bio Green said the target owns the Sendayan Ozone Medical Waste Treatment Plant in Negeri Sembilan, Malaysia, with capacity of 10 metric tons per day, and uses ozone gas to disinfect biomedical waste before disposal or recovery.
Ngu Wang Keat, director of Future NRG, said the ozone process provides a “99.9999% reduction in microbial populations.” Bio Green Chief Executive Datuk Dr. Doris Wong Sing Ee said Future NRG had a “differentiated model” with “proven economics” in an underserved market. Bio Green Med Solution, Inc
The company said the combined business would keep the Bio Green Med Solution name and continue trading on the Nasdaq Capital Market under BGMS. The transaction is expected to close in the fourth quarter of 2026, subject to shareholder approvals, an effective SEC registration statement and other conditions.
Bio Green is not the old Cyclacel story anymore. In its first-quarter update last month, the company said it had shifted its operations toward fire safety protection and distribution after buying Fitters Sdn. Bhd. in September 2025; it reported $778,000 of product revenue, a net loss of $197,000 and $3.3 million in cash at March 31.
The deal would push BGMS toward a medical-waste field already served by much larger environmental-services groups. WM says Stericycle is now part of its healthcare-solutions business; Clean Harbors lists biohazardous, sharps, pathological and pharmaceutical waste services; and Veolia says it provides medical-waste solutions from small clinics to large hospitals.
There is also deal noise around the stock. Halper Sadeh, an investor-rights law firm, said it was investigating whether Bio Green Med and its board obtained the best possible price, ran a fair process and disclosed material information to shareholders.
But the risk is plain. The share move could fade if buyers focus less on the new waste-treatment platform and more on the ownership reset, or if approvals, Nasdaq listing clearance for the new shares, litigation pressure or the coming proxy documents complicate closing.
For now, BGMS is trading like a tiny, event-driven stock before the bell. The news gave traders a reason to chase it; the filing gives longer-term holders a much harder number to weigh.
