Navigation Links
MiMedx Group Completes $5,000,000 Private Placement
Date:12/28/2011

KENNESAW, Ga., Dec. 28, 2011 /PRNewswire/ -- MiMedx Group, Inc. (OTCBB: MDXG), an integrated developer, manufacturer and marketer of patent protected regenerative biomaterials and bioimplants processed from human amniotic membrane, announced today that the Company's $5,000,000 private placement offering to sell convertible notes and warrants has been fully subscribed.

Through the offering, which commenced on October 15, 2011, the Company received $5,000,000 in proceeds and issued 5% Convertible Senior Secured Promissory Notes that are convertible into approximately 5,000,000 shares of common stock at a price of $1.00 per share. Participating investors also received contingent warrants to purchase the Company's common stock. More details regarding the private placement, including the terms of the warrants, are disclosed in the Company's SEC filings.

Parker H. "Pete" Petit, Chairman and CEO, said, "We are pleased with the receptivity to this offering and especially gratified by the speed at which investors acted upon this opportunity. We are excited that they share the same level of enthusiasm regarding the market potential of our products and tissues. We appreciate the confidence of the new investors that participated in this private placement.  As with our previous private placements, I again personally participated in this offering. This capital should provide the Company with sufficient cash to transition beyond EBITDA breakeven and profitability and afford MiMedx with funds to accelerate our revenue growth."

About the Company

MiMedx® is an integrated developer, manufacturer and marketer of patent protected regenerative biomaterial products and bioimplants processed from human amniotic membrane.  "Innovations in Regenerative Biomaterials" is the framework behind our mission to give physicians products and tissues to help the body heal itself. Our biomaterial platform technologies include the device technologies HydroFix® and CollaFix®, and our tissue technologies, AmnioFix® and EpiFix®. Our tissue technologies, processed from the human amniotic membrane, utilize our proprietary Purion® process that was developed by our wholly-owned subsidiary, Surgical Biologics, to produce a safe, effective and minimally manipulated implant. Surgical Biologics is the leading supplier of amniotic tissue, having supplied over 60,000 implants to date to distributors and OEMs for application in the Ophthalmic, Orthopedics, Spine, Wound Care and Dental sectors of healthcare.

Safe Harbor Statement

This press release includes statements that look forward in time or that express management's beliefs, expectations or hopes.  Such statements are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.  These statements include, but are not limited to, the Company's ability to achieve EBITDA break even and profitability, the adequacy of the funds received to transition the Company beyond EBITDA break even and profitability, and the anticipated use of the funds from the private placement to accelerate the Company's revenue growth. These statements are based on current information and belief, and are not guarantees of future performance.  Among the risks and uncertainties that could cause actual results to differ materially from those indicated by such forward-looking statements include that unanticipated events may prevent the Company from using the proceeds of the private placement for the intended purpose, that the Company may require additional capital beyond the proceeds of the offering referenced in this release to achieve its goals, that the Company many not be able to achieve or sustain EBITDA breakeven or profitability, and the risk factors detailed from time to time in the Company's periodic Securities and Exchange Commission filings, including, without limitation, its 10-K filing for the fiscal year ended December 31, 2010 and its most recent Form 10-Q. By making these forward-looking statements, the Company does not undertake to update them in any manner except as may be required by the Company's disclosure obligations in filings it makes with the Securities and Exchange Commission under the federal securities laws.


'/>"/>
SOURCE MiMedx Group, Inc.
Copyright©2010 PR Newswire.
All rights reserved

Related biology technology :

1. MiMedx Group Announces Temporary Trading Symbol Designation
2. MiMedx Group, Inc. to Present at Noble Financial Sixth Annual Equity Conference
3. MiMedx Group, Inc. Announces Release Date For Third Quarter Results
4. MiMedx Group, Inc. to Present at the 13th Annual Needham Growth Conference
5. MiMedx to Attend American Academy of Orthopedic Surgeons Annual Meeting
6. MiMedx Announces Launch of AmnioFix™
7. MiMedx Group, Inc. to Present at the 10th Annual Needham Healthcare Conference
8. MiMedx Group Announces 2010 Results
9. MiMedx Group Announces First Quarter 2011 Results
10. MiMedx Group, Inc. to Present at the Noble Financial Capital Markets Seventh Annual Equity Conference
11. MiMedx Group Completes $5,000,000 Private Placement
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:5/26/2016)... May 26, 2016  Agriculture nutrients are in the ... Iowa is running their nitrate removal system ... Erie and coastal regions nationwide are painting ... this widespread issue. NECi Superior Enzymes, a ... Peninsula, developed a new, easy to use device that ...
(Date:5/26/2016)... ... 26, 2016 , ... After several promising treatments in Panama ... City of Knowledge in Panama, a 6 year-old Duchenne’s muscular dystrophy patient received ... year following FDA approval of a second application for a single patient, investigational ...
(Date:5/25/2016)... ... May 25, 2016 , ... Thailand’s Board of Investment’s ... in San Francisco. Located at booth number 7301, representatives from the Thai Government, ... discuss the Thai biotechnology and life sciences sector. , Deputy Secretary General ...
(Date:5/25/2016)... ... ... Scientists at the University of Athens say they have evidence that the variety of ... could lead to one good one. Surviving Mesothelioma has just posted an article on ... evaluated 98 mesothelioma patients who got a second kind of drug therapy ...
Breaking Biology Technology:
(Date:4/13/2016)... , April 13, 2016  IMPOWER physicians supporting ... are setting a new clinical standard in telehealth thanks ... By leveraging the higi platform, IMPOWER patients can routinely ... pulse and body mass index, and, when they opt ... and convenient visit to a local retail location at ...
(Date:3/22/2016)... India , March 22, 2016 /PRNewswire/ ... market research report "Electronic Sensors Market for Consumer ... Proximity, & Others), Application (Communication & IT, ... Geography - Global Forecast to 2022", published ... industry is expected to reach USD 26.76 ...
(Date:3/15/2016)... -- --> --> According ... "Digital Door Lock Systems Market - Global Industry Analysis, Size, ... digital door lock systems market in terms of revenue was ... to grow at a CAGR of 31.8% during the period ... (MSMEs) across the world and high industrial activity driving inclusive ...
Breaking Biology News(10 mins):