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Cryptoprowl / Shuttle Pharmaceuticals Holdings (NASDAQ: $SHPH ) said it has signed a definitive merger agreement to acquire United Dogecoin Inc., setting up a public-market vehicle focused on Dogecoin (CRYPTO: $DOGE ) mining and treasury accumulation. The deal is supported by an $11 million PIPE financing expected to close on May 4, with United Dogecoin merging into a wholly owned subsidiary of Shuttle once the transaction is completed.

The combined company is aiming to give investors more direct exposure to DOGE mining at a time when most public crypto-mining stories remain tied to bitcoin. United Dogecoin plans to secure a purchase order for up to 3,000 newest-generation ElphaPex mining rigs after the PIPE closes, with the machines expected to come online within 60 days. 

The company said that fleet could deliver up to 43,200 GH/s, or about 1.5% of global Dogecoin mining capacity at current levels.
The structure also gives the transaction a clear treasury angle. United Dogecoin said its strategy is to mine DOGE with efficient, lower-cost rigs and hold mined coins on the balance sheet to build long-term asset value. CEO Ryan Trasolini, who is expected to become co-CEO of the combined company, said the team believes its size, relationships and timing position it to become a global leader in Dogecoin mining. He also compared the approach to strategies that have already played out in bitcoin mining.

Under the merger agreement, Shuttle will issue 8,000 shares of Series B-1 Convertible Preferred Stock to United Dogecoin equityholders, convertible into roughly 32.26 million common shares after stockholder approval. United Dogecoin equityholders may also receive up to 118.04 million pre-funded warrants tied to post-closing operational milestones. 

The result is a fairly unusual pivot: a Nasdaq-listed pharma and AI drug-discovery company preparing to add a scaled Dogecoin mining business alongside its existing operations. If the transaction closes as planned, DOGE mining may get a more visible public-market test than it has had so far.

Shuttle Pharmaceuticals Holdings Inc. (NASDAQ: SHPH) stock is currently trading at $1.12 U.S. per share, while Dogecoin (CRYPTO: DOGE) is trading at $0.11025 U.S. per digital token.