AVITA Medical, Inc. (NASDAQ: RCEL, ASX:AVH), a regenerative
medicine company that is developing and commercializing a
technology platform that enables point-of-care autologous skin
restoration for multiple unmet needs, wishes to advise that its
2021 Annual Stockholder Meeting (the “Annual Meeting”), which was
scheduled to be held today, December 14, 2021 at 1:00 p.m. Pacific
Time (being Wednesday December 15 at 8.00 a.m. Australian Eastern
Daylight Time (“AEDT”)), was convened and adjourned, without any
business being conducted, due to the lack of the required quorum.
The required quorum for convening the Annual Meeting is a simple
majority (i.e. 50%) of the Company’s common stock (calculated as of
October 26, 2021) being present at the Annual Meeting. At the time
the Annual Meeting was adjourned, proxies had been submitted by
stockholders representing approximately 49% of the shares of the
Company’s common stock outstanding and entitled to vote at the
Annual Meeting (including shares of common stock underlying CHESS
Depositary Interests (“CDIs”)).
As a result of the required quorum not being present, the Annual
Meeting has been adjourned to 1:00 p.m. (Pacific Time) on Wednesday
December 22, 2021 (being Thursday December 23, 2021 at
8:00 a.m. (AEDT)) (“Adjourned Annual Meeting”) to allow
additional time for the Company’s stockholders and holders of the
Company’s CDIs to vote on the proposals set forth in the Company’s
definitive proxy statement filed with the United States Securities
and Exchange Commission (“SEC”) on November 9, 2021 (United States)
and the Australian Securities Exchange ("ASX") on November 10, 2021
(Australia), and thereby satisfy the required quorum for the
meeting. The Adjourned Annual Meeting will be conducted via a live
webcast. The virtual meeting link provided in the proxy statement
of http://meetnow.global/MTJNRZR can be used to access the
Adjourned Annual Meeting.
During the current adjournment period, the Company will continue
to solicit votes from its stockholders and CDI holders with respect
to the proposals set forth in the Company’s proxy statement. The
Company has engaged a proxy solicitor, Okapi Partners LLC, to
assist management with obtaining adequate votes to achieve the
required quorum of at least a majority of the outstanding shares of
common stock (including shares of common stock underlying
CDIs).
Only stockholders and CDI holders of record as of the record
date, being 5:00 p.m. on October 26, 2021 (Pacific Time) (being
11:00 a.m. on October 27, 2021 (AEDT)) are entitled to vote. Valid
proxies and CDI Voting Instruction Forms previously submitted in
respect of the Annual Meeting will be voted at the Adjourned Annual
Meeting unless properly revoked, and stockholders and CDI holders
who have previously submitted a valid proxy card, CDI Voting
Instruction Form or otherwise voted need not take any action unless
they wish to change their vote.
Previously, the voting cut-off date for holders of the Company’s
CHESS Depositary Interests (“CDIs”) was Sunday December 12, 2021 at
5:00 pm Pacific Time, being Monday December 13, 2021 at 12:00 noon
AEDT. Due to the adjournment of the Annual Meeting, the voting cut
off time for CDI holders has now been extended to Monday December
20, 2021 at 5:00 p.m. Pacific Time, being Tuesday December 21, 2021
at 12:00 noon AEDT.
The Company encourages all stockholders of record as at 5:00
p.m. on October 26, 2021 Pacific Time who have not yet voted, to do
so by Tuesday December 21, 2021 at 5:00 p.m. Pacific Time, being
Wednesday December 22 at 12:00 noon AEDT. Notwithstanding the
foregoing, any votes properly received before the close of the
Adjourned Annual Meeting on December 22, 2021 (United States), will
be accepted.
Stockholders who have any questions or require any assistance
with how to complete a proxy or CDI Voting Instruction Form or who
do not have the required materials, may contact Okapi Partners by
telephone (toll-free within North America) at +1 (877) 796-5274 or
call collect outside North America at 1+ (212) 297-0720 or by email
at info@okapipartners.com.
If the number of additional shares of common stock including
shares of common stock underlying CDIs voted at the Adjourned
Annual Meeting is not sufficient to achieve a quorum, the Company
intends to adjourn the Annual Meeting again, which will require the
Company to incur additional costs.
Authorized for release by the Chief Executive Officer of AVITA
Medical, Inc.
Important Information
This material may be deemed to be solicitation material in
respect of the Adjourned Annual Meeting to be held on December 22,
2021 (Pacific Time) (being December 23, 2021 (AEDT)). In connection
with the Annual Meeting, the Company filed a definitive proxy
statement with the SEC on November 9, 2021 (United States) and the
ASX on November 10, 2021 (Australia). BEFORE MAKING ANY VOTING
DECISIONS, STOCKHOLDERS AND CDI HOLDERS ARE URGED TO READ THE
DEFINITIVE PROXY STATEMENT AND ANY OTHER RELEVANT DOCUMENTS FILED
WITH THE SEC OR THE ASX, BECAUSE THEY CONTAIN IMPORTANT INFORMATION
ABOUT THE ANNUAL MEETING. The definitive proxy statement was mailed
to stockholders and CDI holders entitled to vote at the Annual
Meeting. No changes have been made to the proposals to be voted on
by stockholders at the Annual Meeting. The Company’s proxy
statement and any other materials filed by the Company with the SEC
can be obtained free of charge at the SEC’s website at
https://www.sec.gov/Archives/edgar/data/0001762303/000119312521323869/d225325ddef14a.htm
or on the Company’s website at www.avitamedical.com. The proxy
statement and any other materials filed by the Company with the ASX
can be obtained free of charge at the ASX’s website www.asx.com.au
and also the Company’s website at www.avitamedical.com.
ABOUT AVITA MEDICAL, INC.AVITA Medical is a
regenerative medicine company with a technology platform positioned
to address unmet medical needs in burns, chronic wounds, and
aesthetics indications. AVITA Medical’s patented and proprietary
collection and application technology provides innovative treatment
solutions derived from the regenerative properties of a patient’s
own skin. The medical devices work by preparing a RES® REGENERATIVE
EPIDERMAL SUSPENSION, an autologous suspension comprised of the
patient’s skin cells necessary to regenerate natural healthy
epidermis. This autologous suspension is then sprayed onto the
areas of the patient requiring treatment.
AVITA Medical’s first U.S. product, the RECELL® System, was
approved by the U.S. Food and Drug Administration (FDA) in
September 2018. The RECELL System is indicated for use in the
treatment of acute thermal burns. The RECELL System is used to
prepare Spray-On Skin™ Cells using a small amount of a patient’s
own skin, providing a new way to treat severe burns, while
significantly reducing the amount of donor skin required. The
RECELL System is designed to be used at the point of care alone or
in combination with autografts depending on the depth of the burn
injury. Compelling data from randomized, controlled clinical trials
conducted at major U.S. burn centers and real-world use in more
than 10,000 patients globally reinforce that the RECELL System is a
significant advancement over the current standard of care for burn
patients and offers benefits in clinical outcomes and cost savings.
Healthcare professionals should read the INSTRUCTIONS FOR USE -
RECELL® Autologous Cell Harvesting Device
(https://recellsystem.com/) for a full description of indications
for use and important safety information including
contraindications, warnings, and precautions.
In international markets, our products are marketed under the
RECELL System brand to promote skin healing in a wide range of
applications including burns, chronic wounds, and aesthetics. The
RECELL System is TGA-registered in Australia and received CE-mark
approval in Europe. To learn more, visit www.avitamedical.com.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING
STATEMENTSThis press release includes forward-looking
statements. These forward-looking statements generally can be
identified by the use of words such as “anticipate,” “expect,”
“intend,” “could,” “may,” “will,” “believe,” “estimate,” “look
forward,” “forecast,” “goal,” “target,” “project,” “continue,”
“outlook,” “guidance,” “future,” other words of similar meaning and
the use of future dates. Forward-looking statements in this press
release include, but are not limited to, statements concerning,
among other things, our ongoing clinical trials and product
development activities, regulatory approval of our products, the
potential for future growth in our business, and our ability to
achieve our key strategic, operational and financial goal.
Forward-looking statements by their nature address matters that
are, to different degrees, uncertain. Each forward-looking
statement contained in this press release is subject to risks and
uncertainties that could cause actual results to differ materially
from those expressed or implied by such statement. Applicable risks
and uncertainties include, among others, the timing of regulatory
approvals of our products; physician acceptance, endorsement, and
use of our products; failure to achieve the anticipated benefits
from approval of our products; the effect of regulatory actions;
product liability claims; risks associated with international
operations and expansion; and other business effects, including the
effects of industry, economic or political conditions outside of
the company’s control. Investors should not place considerable
reliance on the forward-looking statements contained in this press
release. Investors are encouraged to read our publicly available
filings for a discussion of these and other risks and
uncertainties. The forward-looking statements in this press release
speak only as of the date of this release, and we undertake no
obligation to update or revise any of these statements.
This press release was authorized by the review committee of
AVITA Medical, Inc.
FOR FURTHER INFORMATION:
U.S. MediaSam Brown, Inc.Christy CurranPhone
+1-615-414-8668christycurran@sambrown.comO.U.S.
MediaRudi Michelson Phone +61 (0)3 9620 3333 Mobile +61
(0)411 402 737 rudim@monsoon.com.au |
InvestorsICR WestwickeCaroline CornerPhone
+1-415-202-5678 caroline.corner@westwicke.com |
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