ReShape Lifesciences Announces Pricing of Upsized $10.2 Million Underwritten Public Offering
Gross proceeds, before deducting underwriting discounts and commissions and estimated offering expenses, are expected to be approximately $10.2 million. The company intends to use the net proceeds of this offering to continue implementation of its growth strategies, for working capital and general corporate purposes. The offering is expected to close on February 8, 2023, subject to customary closing conditions.
ReShape has also granted the underwriters an option to purchase an additional 191,250 shares of common stock and/or additional warrants to purchase up to 286,875 shares of common stock, to cover over-allotments, if any.
Maxim Group LLC is acting as sole book-running manager in connection with this offering.
The securities described above are being offered pursuant to a registration statement on Form S-1, as amended (File No. 333-269207), which was declared effective by the Securities and Exchange Commission (the "SEC") on February 3, 2023, and an additional registration statement filed with the
This press release shall not constitute an offer to sell or a solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.
Forward-Looking Safe Harbor Statement
This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results could differ materially from those discussed due to known and unknown risks, uncertainties, and other factors. These forward-looking statements generally can be identified by the use of words such as "expect," "plan," "anticipate," "could," "may," "intend," "will," "continue," "future," other words of similar meaning and the use of future dates. These forward-looking statements and factors that may cause such differences include the satisfaction of customary closing conditions related to the offering, the expected timing of the closing of the offering and the intended use of the proceeds from the offering. These and additional risks and uncertainties are described more fully in the company’s filings with the Securities and Exchange Commission, including those factors identified as “risk factors” in our most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. We are providing this information as of the date of this press release and do not undertake any obligation to update any forward-looking statements contained in this document as a result of new information, future events or otherwise, except as required by law.
ReShape Lifesciences Investor Contact:
Chief Financial Officer
Investor Relations Contact:
Source: ReShape Lifesciences Inc