IRVINE, Calif., Feb. 15, 2025 (GLOBE NEWSWIRE) — ReShape Lifesciences® (“ReShape” or the “Firm”) (Nasdaq: RSLS), the premier physician-led weight reduction and metabolic well being options firm, right now introduced the pricing of its public providing of 2,575,107 models at a public providing value of $2.33 per unit. Every unit consists of one frequent share (or pre-funded warrant to buy one frequent share in-lieu thereof) and one warrant to buy one frequent share.
The warrants, which aren’t exercisable except and till accredited by ReShape stockholders, might be initially exercisable at a value of $5.83 per share, topic to plain changes for dividends, splits and comparable occasions, and likewise topic to adjustment upon a one-time reset on the Reset Date (as described within the warrants), topic to a flooring value described therein. The warrants may be exercised on another cashless foundation pursuant to which the holder could alternate every warrant for 1.2 instances the quantity of shares of frequent inventory they’d obtain upon a money train. The warrants will turn out to be exercisable after discover is supplied concerning stockholder approval and can expire on the later of (i) twelve (12) days after the date of stockholder approval and (ii) the sooner of (x) the time limit of the Firm’s beforehand introduced merger with Vyome Therapeutics, Inc. and (y) sixty (60) days after the date of stockholder approval. The shares of frequent inventory (or pre-funded warrants) and accompanying warrants can solely be bought collectively on this public providing however might be issued individually and might be instantly separable upon issuance. Gross proceeds to the Firm, earlier than deducting placement agent’s charges and different providing bills, are anticipated to be roughly $6.0 million. The providing is predicted to shut on or about February 18, 2025, topic to the satisfaction of customary closing circumstances.
Maxim Group LLC is performing as sole placement agent in reference to the providing.
A registration assertion on Kind S-1 (File No. 333-284362) was filed with the U.S. Securities and Trade Fee (“SEC”), as amended, and was declared efficient by the SEC on February 14, 2025 and a registration assertion on Kind S-1 filed pursuant to Rule 462(b) of the Securities Act of 1933, as amended, was filed with the SEC and have become efficient upon submitting on February 14, 2025 (collectively, the “registration assertion”). A ultimate prospectus referring to the providing might be filed with the SEC and might be obtainable on the SEC’s web site at http://www.sec.gov. The providing is being made solely by means of a prospectus forming half of the efficient registration assertion. Digital copies of the prospectus referring to this providing, when obtainable, may be obtained from Maxim Group LLC, 300 Park Avenue, sixteenth Ground, New York, New York 10022, Consideration: Syndicate Division, by phone at (212) 895-3745 or by e mail at syndicate@maximgrp.com.
This press launch shall not represent a proposal to promote or a solicitation of a proposal to purchase any of the securities described herein, nor shall there be any sale of these securities in any state or different jurisdiction during which such provide, solicitation or sale can be illegal previous to the registration or qualification underneath the securities legal guidelines of any such state or different jurisdiction.
About ReShape Lifesciences®
ReShape Lifesciences® is America’s premier weight reduction and metabolic health-solutions firm, providing an built-in portfolio of confirmed services and products that handle and deal with weight problems and metabolic illness. The FDA-approved Lap-Band® and Lap-Band® 2.0 Flex Programs present minimally invasive, long-term therapy of weight problems and are a substitute for extra invasive surgical stapling procedures such because the gastric bypass or sleeve gastrectomy. The ReShape Diabetes Neuromodulation system (previously, Diabetes Bloc-Stim Neuromodulation™ (DBSN™)) is a novel minimally invasive therapeutic implant idea that delivers bio-electronic neuromodulation of vagus nerve branches which might be innervating organs which regulate plasma glucose. The Obalon® balloon expertise is a non-surgical, swallowable, gas-filled intra-gastric balloon that’s designed to offer long-lasting weight reduction. For extra data, please go to www.reshapelifesciences.com.
Ahead-Wanting Protected Harbor Assertion
This press launch could include forward-looking statements throughout the which means of the Non-public Securities Litigation Reform Act of 1995. Precise outcomes might differ materially from these mentioned on account of identified and unknown dangers, uncertainties, and different components. These forward-looking statements typically might be recognized by the use of phrases comparable to “count on,” “plan,” “anticipate,” “might,” “could,” “intend,” “will,” “proceed,” “future,” different phrases of comparable which means and the use of future dates. Components that might trigger precise outcomes to vary materially from these mentioned within the forward-looking statements embody, amongst different issues statements concerning the completion of the providing and the satisfaction of customary closing circumstances associated to the providing. These and extra dangers and uncertainties are described extra totally within the firm’s filings with the Securities and Trade Fee, together with these components recognized as “danger components” in our most up-to-date Annual Report on Kind 10-Okay and subsequent Quarterly Experiences on Kind 10-Q. We’re offering this data as of the date of this press launch and don’t undertake any obligation to replace any forward-looking statements contained on this doc because of this of new data, future occasions or in any other case, besides as required by regulation.
CONTACTS
ReShape Lifesciences Investor Contact:
Paul F. Hickey
President and Chief Government Officer
949-276-7223
ir@ReShapeLifesci.com
Investor Relations Contact:
Rx Communications Group
Michael Miller
917-633-6086
mmiller@rxir.com
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