Assure Announces Amendment of Exchange Offer Relating to its Convertible Notes
September 06 2024 - 7:45PM
Business Wire
Assure Holdings Corp. (“Assure” or the “Company”) (OTC: IONM),
today announced that it has amended the Convertible Note Exchange
Offer of June 21, 2024, relating to the Company’s 9% Convertible
Debentures due in 2023 and 2024 (the “Assure Convertible
Debentures”). This ninth amendment further amends and restates
certain sections of the Convertible Note Exchange Offer (“Amended
Offer Letter”) as follows: (i) updates the Amended Offer Letter to
reflect a change in the consideration being offered for each $1,000
claim from 238.44 shares of common stock consisting of principal
amount, and accrued and unpaid interest through, and including,
July 19, 2024 to 1,000 shares of common stock consisting of
principal amount, and accrued and unpaid interest through, and
including, September 20, 2024, representing a change in the per
share conversion price from $4.194 to $1.00, (ii) update the
Amended Offer Letter to reflect the extension of the Convertible
Note Exchange Offer through 11:59 p.m. (Denver time) on September
20, 2024, and (iii) supplement disclosure in the Amended Offer
Letter to disclose recent developments of the Company.
Approximately $2.0 million in principal face amount of Assure
Convertible Debentures have been tendered under the Offer.
Important Information Has Been Filed with the SEC
Copies of the Offer Letter (and all amendments thereto) and the
Schedule TO (and all amendments thereto) are available free of
charge at the website of the SEC at www.sec.gov. Requests
for documents may also be directed to Assure Holdings Corp., 7887
E. Belleview Ave., Suite 240, Denver, Colorado, USA 80111 or email
to ir@assureiom.com.
This announcement is for informational purposes only and shall
not constitute an offer to purchase or a solicitation of an offer
to sell the Assure Convertible Notes or an offer to sell or a
solicitation of an offer to buy any shares of Assure’s common
stock. The Offer is being made only through the Schedule TO and
Offer Letter, and the complete terms and conditions of the Offer
are set forth in the Schedule TO and Offer Letter. Holders of the
Assure Convertible Debentures are urged to read the Schedule TO and
Offer Letter carefully before making any decision with respect to
the Offer because they contain important information, including the
various terms of, and conditions to, the Offer. None of Assure, or
any of its management or its board of directors makes any
recommendation as to whether or not holders of Assure Convertible
Debentures should tender such Assure Convertible Debentures for
exchange in the Offer.
About Assure Holdings
Assure Holdings Corp. is a provider of outsourced intraoperative
neuromonitoring and remote neurology services. The Company delivers
a turnkey suite of clinical and operational services to support
surgeons and medical facilities during invasive procedures that
place the nervous system at risk including neurosurgery, spine,
cardiovascular, orthopedic and ear, nose and throat surgeries.
Assure employs highly trained technologists that provide a direct
point of contact in the operating room. Physicians employed through
Assure subsidiaries simultaneously monitor the functional integrity
of patients’ neural structures throughout the procedure
communicating in real-time with the surgeon and technologist.
Accredited by The Joint Commission, Assure’s mission is to provide
exceptional surgical care and a positive patient experience. For
more information, visit the Company’s website at
www.assureneuromonitoring.com.
Forward-Looking Statements
This news release may contain “forward-looking statements”
within the meaning of applicable securities laws. Forward-looking
statements may generally be identified by the use of the words
“anticipates,” “expects,” “intends,” “plans,” “should,” “could,”
“would,” “may,” “will,” “believes,” “estimates," “potential,”
“target,” or “continue” and variations or similar expressions.
Forward-looking statements include, but are not limited to, the
future expiration date of the Offer, and other similar statements.
These statements are based upon the current expectations and
beliefs of management and are subject to certain risks and
uncertainties that could cause actual results to differ materially
from those described in the forward-looking statements. These risks
include risks regarding our patient volume or cases not growing as
expected, or decreasing, which could impact revenue and
profitability; unfavorable economic conditions could have an
adverse effect on our business; risks related to increased leverage
resulting from incurring additional debt; the policies of health
insurance carriers may affect the amount of revenue we receive; our
ability to successfully market and sell our products and services;
we may be subject to competition and technological risk which may
impact the price and amount of services we can sell and the nature
of services we can provide; regulatory changes that are unfavorable
in the states where our operations are conducted or concentrated;
our ability to comply and the cost of compliance with extensive
existing regulation and any changes or amendments thereto; changes
within the medical industry and third-party reimbursement policies
and our estimates of associated timing and costs with the same; our
ability to adequately forecast expansion and the Company’s
management of anticipated growth; and risks and uncertainties
discussed in our most recent annual and quarterly reports filed
with the United States Securities and Exchange Commission,
including our annual report on Form 10-K filed on April 26, 2024,
and with the Canadian securities regulators and available on the
Company’s profiles on EDGAR at www.sec.gov and SEDAR at
www.sedar.com, which risks and uncertainties are incorporated
herein by reference. Readers are cautioned not to place undue
reliance on forward-looking statements. Except as required by law,
Assure does not intend, and undertakes no obligation, to update any
forward-looking statements to reflect, in particular, new
information or future events.
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Investor Contact Brett Maas, Managing Principal, Hayden
IR ionm@haydenir.com (646) 536-7331