Powerus Files Merger Financials: $5.7M H1 Revenue, $17.3M Loss, 165.6M Pro Forma Shares
PUSA is trading near its 52-week low of $2.01 (2.0% above the low).
Summary
Powerus filed the required financial statements and pro forma information for its Oct 1 merger with Aureus Greenway, showing $5.7M of H1 revenue, a $17.3M net loss, and a combined company with 165.6M shares outstanding and about $47M of cash.
Key Events · M&A and Partnerships · PUSA
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Merger Financials Filed
8-K/A supplies the Legacy Powerus financial statements and pro forma combined financials promised in the Oct 1, 2026 merger 8-K; no change to deal terms.
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Legacy Powerus H1 Results
Revenue of $5.67M against a $17.34M net loss for the six months ended June 30, 2026, with $13.69M of operating cash burn and $25.0M of cash on hand.
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Pro Forma Capital Structure
Combined company has 165.6M shares outstanding, including 55M fully vested earn-out shares, 32.6M shares underlying assumed warrants and 21.8M underlying options.
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Warrant Liability Is Non-Cash
$23.66M warrant liability from 14,305 liability-classified UMAC pre-funded warrants; the $6.34M H1 gain is a non-cash mark-to-market, not new dilution or a cash obligation.
Analysis · PUSA · Trade & Services
This 8-K/A delivers the financial statements and pro forma information for the Oct 1, 2026 merger that the original 8-K promised within 71 days. The numbers are the first hard look at what Powerus actually owns: Legacy Powerus generated $5.67M of revenue in H1 2026 but lost $17.34M, and the combined company carries a $25.0M pro forma net loss for the half-year and $71.0M for all of 2025. The pro forma capital structure is 165.6M shares outstanding, including 55M earn-out shares that are already fully vested and non-contingent, plus roughly 32.6M shares underlying assumed warrants and 21.8M underlying options. The $23.66M warrant liability on the balance sheet is a non-cash mark-to-market on the UMAC pre-funded warrants, not new dilution or a cash obligation; the $6.34M gain in H1 reflects a lower remeasured value. Cash of $25.0M at Legacy Powerus plus $22.2M at AGH gives the combined company about $47.2M of pro forma liquidity, against a business burning roughly $13.7M of operating cash in the first half. The stock trades near its 52-week low of $2.01, so the market has already repriced the deal; these financials explain why.
How filings like this one have moved
In the 30 days to Oct 16, 2026, 29.5% of the 1476 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.41%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, PUSA was trading at $2.05 on NASDAQ in the Trade & Services sector, with a market capitalization of approximately $337.5M. The 52-week trading range was $2.01 to $8.25. This filing was assessed with negative market sentiment and an importance score of 7 out of 10.