FARMINGDALE, N.Y., Oct. 25, 2016 /PRNewswire/ -- Misonix,
Inc. (NASDAQ: MSON), an international surgical device company
that designs, manufactures and markets innovative therapeutic
ultrasonic products for spine surgery, neurosurgery, wound
debridement, skull based surgery, laparoscopic surgery and other
surgical applications, announced today that Stavros Vizirgianakis, interim chief executive
officer of Misonix, has invested $4
million through the purchase from the Company of 761,469
shares of Misonix common stock in a private placement at a price of
$5.253 per share.
The shares acquired by Mr. Vizirgianakis are considered to be
"restricted shares" under federal securities laws as they are
acquired from the Company in a transaction not involving a public
offering. The shares may not be sold without registration under the
Securities Act of 1933, as amended, except in limited
circumstances. Future disposition of the shares by Mr.
Vizirgianakis will be governed by resale limitations imposed by
Rule 144 of the Securities Act, as applicable.
Prior to this transaction Mr. Vizirgianakis beneficially owned
475,859 shares of Misonix common stock, or 6.1% of the outstanding
shares. With the acquisition of the additional shares via this
transaction, Mr. Vizirgianakis beneficially owns a total of
1,237,328 shares, or 14.4% of the outstanding shares and will
become the Company's largest shareholder.
Mr. Vizirgianakis said, "I am pleased to acquire these
additional shares. I believe that the ultrasonic surgical tools
offered by Misonix represent state-of-the-art technology in
executing spinal procedures and delicately managing wound treatment
associated with diabetic ulcers and burn incidents. These are large
and growing markets and Misonix is on the leading-edge in providing
surgical and treatment options that can result in improved patient
outcomes in a cost effective manner. As the interim chief executive
officer of Misonix, I believe it is important that my financial
interests be more closely aligned with those of the Company's loyal
shareholders."
"This investment indicates my belief that the future for Misonix
is bright," continued Mr. Vizirgianakis. "We have great technology,
we have developed outstanding surgical tools and we have the
personnel to take this company to the next level of its
development. I am excited with the possibilities ahead."
About Misonix
Misonix, Inc. designs,
develops, manufactures and markets therapeutic ultrasonic medical
devices. Misonix's therapeutic ultrasonic platform is the
basis for several innovative medical technologies. Addressing a
combined market estimated in excess of $1.5 billion
annually; Misonix's proprietary ultrasonic medical
devices are used in spine surgery, neurosurgery, orthopedic
surgery, wound debridement, cosmetic surgery, laparoscopic surgery,
and other surgical and medical applications. Additional information
is available on the Company's website at www.misonix.com.
Safe Harbor Statement
With the exception of
historical information contained in this press release, content
herein may contain "forward looking statements" that are made
pursuant to the Safe Harbor Provisions of the Private Securities
Litigation Reform Act of 1995. These statements are based on
management's current expectations and are subject to uncertainty
and changes in circumstances. Investors are cautioned that
forward-looking statements involve risks and uncertainties that
could cause actual results to differ materially from the statements
made. These factors include general economic conditions, delays and
risks associated with the performance of contracts, risks
associated with international sales and currency fluctuations,
uncertainties as a result of research and development, acceptable
results from clinical studies, including publication of results and
patient/procedure data with varying levels of statistical
relevancy, risks involved in introducing and marketing new
products, potential acquisitions, consumer and industry acceptance,
litigation and/or court proceedings, including the timing and
monetary requirements of such activities, the timing of finding
strategic partners and implementing such relationships, regulatory
risks including approval of pending and/or contemplated 510(k)
filings, the ability to achieve and maintain profitability in the
Company's business lines, and other factors discussed in the
Company's Annual Report on Form 10-K, subsequent Quarterly Reports
on Form 10-Q and Current Reports on Form 8-K. The Company disclaims
any obligation to update its forward-looking
relationships.
Corporate
Contact
|
Investor
Contact
|
Richard
Zaremba
|
Joe Diaz
|
Misonix,
Inc.
|
Lytham
Partners
|
631-694-9555
|
602-889-9700
|
invest@misonix.com
|
info@misonix.com
|
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SOURCE Misonix, Inc.