TAMPA, Fla., April 1, 2008 /PRNewswire-FirstCall/ -- MiMedx Group, Inc. (OTC Bulletin Board: MDXG), formerly known as Alynx, Co. (OTC Bulletin Board: AYXC), today reported that the contemplated reverse stock split and the redomestication from Nevada to Florida and related name change, to MiMedx Group, Inc., was approved at the shareholders' meeting held March 31, 2008. As a result of the reverse split and redomestication, each former share of Alynx, Co. common stock was converted into approximately 0.3234758 shares of MiMedx Group, Inc. common stock. As a result of the reverse split, there are approximately 36.5 million shares of Common Stock issued and outstanding and an additional 5.3 million shares of Common Stock reserved for issuance for outstanding options and warrants.
Tom D'Alonzo, Chief Executive Officer of MiMedx Group, Inc. stated: "We are pleased to have completed the second stage of this project. Our shares will begin trading under the new symbol 'MDXG.OB' on April 2, 2008."
As a result of the reverse split and redomestication, former holders of MiMedx, Inc. capital stock now hold a number of shares of MiMedx Group, Inc. common stock equal to the number of shares that they held in MiMedx, Inc. prior to the reverse merger transaction with Alynx, Co., which closed February 8, 2008.
About MiMedx Group, Inc.
Founded in 2006, MiMedx Group, Inc. is the parent company for MiMedx,
Inc., a development-stage Florida corporation with technology focusing on
biomaterials for soft tissue repair, such as tendons, ligaments and
cartilage, as well as other biomaterial-based products for other medical
applications. MiMedx, Inc., based in Tampa, Florida, holds an exclusive,
worldwide license from the Shriner's Hospital for Children and the
University of South Florida Research Foundation for certain
nordihydroguaiaretic acid (NDGA) technology. MiMedx is targeting this
proprietary technology for a number of diverse medical applications.
|SOURCE MiMedx Group, Inc.|
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