Navigation Links
XTENT, Inc. Announces Approval of Plan of Liquidation and Dissolution by Board of Directors and Filing of Proxy Materials With the SEC
Date:5/15/2009

MENLO PARK, Calif., May 15 /PRNewswire-FirstCall/ -- XTENT, Inc. ("XTENT" or the "Company") (Nasdaq: XTNT) today announced that its Board of Directors has determined, after consideration of potential strategic alternatives, that it is in the best interests of the Company and its stockholders to liquidate the Company's assets and to dissolve the Company. The Company's Board of Directors has unanimously approved a Plan of Complete Liquidation and Dissolution of the Company (the "Plan of Dissolution") subject to stockholder approval. The Company intends to hold a special meeting of the stockholders to seek approval of the Plan of Dissolution and today it filed related proxy materials with the Securities and Exchange Commission (the "SEC"). Although the Company's Board of Directors has approved the Plan of Dissolution, it will continue to consider any reasonable alternative strategic proposals presented to the Company.

The Plan of Dissolution contemplates an orderly wind down of the Company's business and operations. If the Company's stockholders approve the Plan of Dissolution, the Company intends to file a certificate of dissolution, satisfy or resolve its remaining liabilities and obligations, including contingent liabilities and costs associated with the liquidation and dissolution, make reasonable provisions for unknown claims and liabilities, and make distributions to its stockholders of cash available for distribution, subject to applicable legal requirements. Following stockholder approval of the Plan of Dissolution and the filing of the certificate of dissolution, the Company plans to delist its common stock from the NASDAQ Global Market.

IMPORTANT ADDITIONAL INFORMATION HAS BEEN FILED WITH THE SEC.

This press release is for informational purposes only. It is not a solicitation of a proxy. In connection with the Plan of Dissolution, the Company has filed with the Securities and Exchange Commission a proxy statement and other relevant materials. THE COMPANY'S STOCKHOLDERS ARE URGED TO READ THE PROXY STATEMENT AND THE OTHER RELEVANT MATERIALS BECAUSE THEY CONTAIN IMPORTANT INFORMATION ABOUT THE COMPANY AND THE PLAN OF DISSOLUTION. Stockholders may obtain a free copy of the proxy statement and the other relevant materials and any other documents filed by the Company with the SEC, at the SEC's web site at http://www.sec.gov. In addition, the Company will mail a copy of the definitive proxy statement to stockholders of record on the record date for the special meeting of stockholders which has yet to be determined. A free copy of the proxy statement and other documents filed with the SEC by the Company may also be obtained by directing a written request to: XTENT, Inc., Attn: Secretary, 125 Constitution Drive, Menlo Park, CA 94025, or by accessing the "Investor Relations" section of the Company's website at http://investor.xtentinc.com/. Stockholders are urged to read the proxy statement and the other relevant materials before making any voting or investment decision with respect to the Plan of Dissolution.

About XTENT

XTENT, Inc. is a medical device company focused on developing and commercializing innovative customizable drug eluting stent ("DES") systems for the treatment of coronary artery disease ("CAD"). CAD is the most common form of cardiovascular disease and the number one cause of death in the United States and Europe. XTENT(R) Custom NX(R) DES Systems are designed to enable the treatment of single lesions, long lesions and multiple lesions of varying lengths and diameters, in one or more arteries with a single device. For further information, please visit our website at http://www.xtentinc.com/.

Forward Looking Statements

This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties concerning XTENT's proposed liquidation and dissolution. Actual results may differ materially from the results predicted. We believe that these potential risks and uncertainties include the possibility that dissolution and liquidation may not be approved by the stockholders or may be delayed, the possibility that no reasonable strategic alternatives to the dissolution and liquidation of XTENT become available, and that distributions to stockholders may take several years to complete. In addition, no assurance can be given as to the amount of cash actually to be distributed to the stockholders. Statements in this release should be evaluated in light of these important factors. More information about these and other important factors that could affect our business and financial results is included in the "Risk Factors" section of our quarterly report on Form 10-Q filed with the SEC on May 15, 2009.


'/>"/>
SOURCE XTENT, Inc.
Copyright©2009 PR Newswire.
All rights reserved

Related medicine news :

1. Thoratec Announces Appointment of Paul LaViolette to Board of Directors
2. HealthWarehouse.com, Inc. Announces Completion of Business Combination With Clacendix, Inc.
3. Smith & Nephew Orthopaedics Announces First Contribution to OREF Grants Fund
4. Cigna Medical Group Announces Grand Opening of CareToday Clinic in Anthem, Ariz.
5. Americans United for Life Announces Legal Prospectus on Probable Supreme Court Nominees
6. Tianyin Pharmaceutical Co., Inc. Announces Third Quarter 2009 Financial Results
7. Ontario Systems Announces New Alliance With Microsoft
8. Boston Scientific Announces Schedule for EuroPCR 2009
9. Exiqon Announces New Grant Program for MicroRNA Research
10. May 14, 2009: Biodesix Announces VeriStrat(R) Data in Head and Neck Cancer to be Presented at ASCO
11. BioCryst Pharmaceuticals Announces Presentation of Forodesine Data at the 45th Annual Meeting of the American Society of Clinical Oncology
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:1/19/2017)... ... 19, 2017 , ... Aerolib Healthcare Solutions ... Clinical and Regulatory education for Physicians, Physician Advisors, Case managers, Utilization Review ... of Disease Specific Documentation Improvement. , The Aerolib Learning Management System is ...
(Date:1/19/2017)... ... 19, 2017 , ... With the cold weather here, many people will have to clear snow ... clearing large amounts of snow, but they can be dangerous when used incorrectly. That’s why ... Commission for the proper use of snow blowers:, , When removing ...
(Date:1/19/2017)... ... January 19, 2017 , ... WhoHaha , a digital media company ... Heart Association (AHA) to produce a three-part video series that uses humor to highlight ... of the launch of AHA’s Healthy For Good™ movement, which is designed to inspire ...
(Date:1/19/2017)... ... January 19, 2017 , ... WholeHealth is ... year. Drs. Alexander Paziotopoulos, Andrew Petersen and Trish Henrie-Barrus will be present Saturday ... clinic’s leading recovery program. , “We know it’s easy to get carried ...
(Date:1/19/2017)... ... January 19, 2017 , ... ... recently provided a new $11,250,000 senior credit facility to Sunrise, Florida-based Management Health ... facility were used to facilitate a recapitalization of MedPro led by Harren Equity ...
Breaking Medicine News(10 mins):
(Date:1/19/2017)... , Jan. 19, 2017  Abaxis, Inc. (NasdaqGS: ... point-of-care blood analysis instruments and consumables for the medical ... to discuss its financial results for the third quarter ... will be at 4:15 p.m. ET on Thursday, January ... the third quarter fiscal year 2017 after the market ...
(Date:1/19/2017)... January 19, 2017 Shire plc ... the U.S. Food and Drug Administration (FDA) has acknowledged ... Drug Application (NDA) for SHP465, a long-acting, triple-bead, mixed ... potential once-daily treatment for Attention-Deficit/Hyperactivity Disorder (ADHD). The FDA ... June 20, 2017, the designated Prescription Drug User Fee ...
(Date:1/19/2017)... 19, 2017 While various ... about reducing the FDA,s regulatory strictness as a ... medical drug industry, many of the leading biotech ... trials and development of advanced drug treatments and ... recent developments include:  Moleculin Biotech, Inc., (NASDAQ: ...
Breaking Medicine Technology: