Common Stock Will Begin Trading
on a Split-adjusted Basis on October 18, 2024
EDEN PRAIRIE, MN -- October 16, 2024 -- InvestorsHub NewsWire --
SANUWAVE Health, Inc. (the "Company" or "SANUWAVE") (OTCQB: SNWV), a leading provider of
next-generation FDA-approved wound care products, today announced
that, effective at 12:01 a.m. Mountain Time on October 18, 2024,
the Company will implement a 1-for-375 reverse stock split of its
outstanding common stock. The Company's common stock will continue
to trade under the symbol "SNWV" on the OTCQB and is expected to
begin trading on a split-adjusted basis at the opening of the
market on October 18, 2024, under a new CUSIP number, 80303D
305.
The reverse stock split will reduce the number of outstanding
shares of Company common stock from approximately 1,181,272,961
shares to approximately 3,150,062 shares. Proportional adjustments
will be made to the number of shares of SANUWAVE's common stock
subject to outstanding equity awards, convertible notes and
warrants, as well as the applicable conversion or exercise
price.
Information for SANUWAVE Stockholders
Upon the effectiveness of the reverse stock split, every 375
shares of issued and outstanding Company common stock at the close
of business on October 17, 2024, will be automatically combined
into one issued and outstanding share of common stock, with no
change in par value per share. In connection with the reverse stock
split, there will be no change to the total number of authorized
shares of Company common stock as set forth in the Articles of
Incorporation, as amended.
No fractional shares will be issued as a result of the reverse
stock split. Any fractional shares that would have resulted from
the reverse stock split will be settled in cash. The reverse stock
split will affect all common stockholders uniformly and will not
alter any stockholder's percentage interest in the Company's common
stock, except to the extent that the reverse stock split results in
some stockholders experiencing an adjustment of a fractional share
as described above.
Record holders of Company common stock will receive a
transaction statement with respect to the exchange of such shares
for post-reverse split shares. Stockholders holding stock
certificates will receive information from Securities Transfer
Corporation ("STC"), the transfer agent for the Company's common
stock, regarding the process for exchanging their shares of common
stock. STC will act as the exchange agent for the reverse stock
split and may be contacted at (469) 633-0101.
For more information on the reverse stock split, please refer to
the Company's 2024 Consent Solicitation Statement, which can be
accessed through the investor portion of the Company's website at
https://sanuwave.com/investors/ and on the Securities
and Exchange Commission's ("SEC") EDGAR website, https://www.sec.gov/.
About SANUWAVE
SANUWAVE Health is focused on the research, development, and
commercialization of its patented, non-invasive and biological
response-activating medical systems for the repair and regeneration
of skin, musculoskeletal tissue, and vascular structures.
SANUWAVE's end-to-end wound care portfolio of regenerative
medicine products and product candidates helps restore the body's
normal healing processes. SANUWAVE applies and researches its
patented energy transfer technologies in wound healing,
orthopedic/spine, aesthetic/cosmetic, and cardiac/endovascular
conditions.
Forward-Looking Statements
This press release may contain "forward-looking statements"
within the meaning of the Private Securities Litigation Reform Act
of 1995, such as statements relating to expectations regarding the
Company's ability to effect, and the terms and timing of, the
reverse stock split, the timing of future financial results,
production expectations, and plans for future business development
activities. Forward-looking statements include all statements that
are not statements of historical fact regarding intent, belief or
current expectations of the Company, its directors or its officers.
Investors are cautioned that any such forward-looking statements
are not guarantees of future performance and involve risks and
uncertainties, many of which are beyond the Company's ability to
control. Actual results may differ materially from those projected
in the forward-looking statements. Among the key risks, assumptions
and factors that may affect the Company's ability to effect the
reverse stock split, operating results, performance and financial
condition are risks associated with regulatory oversight, the
Company's ability to manage its capital resources, competition and
the other factors discussed in detail in the Company's periodic
filings with the SEC. The Company undertakes no obligation to
update any forward-looking statement.
Contact: investors@sanuwave.com
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