Endologix Announces Approval of Reverse Stock Split
Upon the effectiveness of the reverse stock split, every ten shares of
the Company's issued and outstanding common stock will be automatically
reclassified and converted into one issued and outstanding share of
common stock, par value
No fractional shares of common stock will be issued as a result of the reverse stock split. Stockholders who would otherwise be entitled to receive a fractional share as a result of the reverse stock split will instead receive one whole share of common stock.
The Company has chosen its transfer agent,
The Company develops and manufactures minimally invasive treatments for aortic disorders. The Company's focus is in endovascular stent grafts for the treatment of abdominal aortic aneurysms (AAA). AAA is a weakening of the wall of the aorta, the largest artery in the body, resulting in a balloon-like enlargement. Once an AAA develops, it continues to enlarge and, if left untreated, becomes increasingly susceptible to rupture. The overall patient mortality rate for ruptured AAA is approximately 80%, making it a leading cause of death in the U.S. For more information, visit www.endologix.com.
The Nellix® EndoVascular Aneurysm Sealing System and Ovation Alto® Abdominal Stent Graft System, the Company's next generation Ovation system device, are approved only as investigational devices and are not currently approved for commercial purposes in any market.
Cautionary Note Regarding Forward-Looking Statements
This press release contains “forward-looking statements” within the
meaning of the U.S. Private Securities Litigation Reform Act of 1995.
These forward-looking statements can generally be identified by the use
of words such as “anticipate,” “expect,” “could,” “may,” “will,”
“believe,” “estimate,” “forecast,” “goal,” “project,” “continue,”
“outlook,” “guidance,” “future,” other words of similar meaning and the
use of future dates. Forward-looking statements include all statements
other than statements of historical fact contained in this press
release, including statements regarding the reverse stock split.
Forward-looking statements represent our management’s current
expectations and predictions about trends affecting our business and
industry and are based on information available as of the time such
statements are made. The forward-looking statements contained in this
press release speak only as of the date of this press release. The
Company undertakes no obligation to update any forward- looking
statements contained in this press release to reflect new information,
events or circumstances after the date they are made, or to reflect the
occurrence of unanticipated events. Please refer to the Company’s
filings with the
Vaseem Mahboob, CFO