via NEWMEDIAWIRE -- Boustead Securities, LLC’s client, Soliton,
Inc. (NASDAQ: SOLY) (“Soliton” or the “Company”), a pre-revenue
stage medical device company with a novel and proprietary platform
technology licensed from The University of Texas on behalf of the
MD Anderson Cancer Center (“MD Anderson”), today announced it has
held the initial closing of its Regulation A+ Tier 2 offering (the
"Offering"). Soliton sold 2,086,391 shares of its common
stock at the IPO price of $5.00 each in today’s closing resulting
in aggregate gross proceeds of $10,431,955 to the Company, before
deducting underwriting commissions and other related
expenses. Soliton has been approved to begin trading its
shares on the Nasdaq Capital Market under the symbol “SOLY” on
Tuesday February 19, 2019. Boustead Securities, LLC was the sole
underwriter of the Soliton IPO.
The Company intends to use the net proceeds of this offering
primarily to develop and commercialize the Rapid Acoustic Pulse
(“RAP”) device; conduct clinical trials for new indications; pay
license fees and fund research and development; and for general
working capital.
Soliton’s patented RAP device uses acoustic
shockwaves that, in clinical trials, accelerated the speed of
tattoo removal when used with lasers, delivering results in as
little as 2 to 3 treatments versus the 10 to 12 average with the
current standard of care lasers alone. In addition to tattoo
removal, Soliton discovered other capabilities of its technology
during preclinical testing. Among them, the Company observed that
their RAP device may have the potential to improve skin laxity as
well as the appearance of cellulite by creating mechanical stress
at the cellular level and inducing collagen growth. Soliton also
discovered that their patented shockwave technology may have an
effect on subcutaneous fat cells that may be beneficial to the
current method of subcutaneous fat reduction. To that end, the
Company’s RAP device is already in a collaborative trial with a
large global aesthetics company to test the device’s ability to
accelerate that company’s own fat reduction technology. This
clinical trial is early stage and intended as a proof-of-concept
and there is no assurance that the trial will have a successful
outcome.
An offering circular on Form 1-A relating to this
U.S. offering was filed with the Securities and Exchange Commission
(“SEC”) and was qualified by the SEC as of November 27, 2018. The
offering of these securities was made only by means of an offering
circular on Form 1-A. The final offering circular is available at
https://www.flashfunders.com/soliton, https://www.sec.gov or
may be obtained from Boustead Securities at +1 (949) 502-4409
or offerings@bousted1828.com
About the Company
Soliton, Inc. is a pre-revenue stage medical
device company with a novel and proprietary platform technology
licensed from MD Anderson. The Company’s first commercial product
uses rapid pulses of designed acoustic shockwaves to dramatically
accelerate the removal of unwanted tattoos. The Company is based in
Houston, Texas, and is actively engaged in bringing this device to
the market. The Company expects to file for premarket clearance
with the U.S. Food and Drug Administration ("FDA") for its first
device in the first quarter of 2019 and expects to receive
clearance to market the device in mid-2019. For more information
about the Company, please visit: http://www.soliton.com.
About Boustead Securities, LLC
Boustead Securities, LLC (“Boustead”) is an investment banking
firm that executes and advises on IPOs, mergers and acquisitions,
capital raises and restructuring assignments in a wide array of
industries, geographies and transactions, for a broad client base.
Boustead’s core value proposition is the ability to create
opportunity through innovative solutions and tenacious execution.
With experienced professionals in the United States and around the
world, Boustead’s team moves quickly and provides a broad spectrum
of sophisticated financial advice and services. For more
information about Boustead, please
visit www.boustead1828.com
CONTACT:
Boustead Securities, LLC:
Dan McClory, Head of Equity Capital Markets
+1 (949) 502 4408
dan@boustead1828.com
About FinTech Global Markets, Inc.
FinTech Global Markets, Inc. (“FTGM”) was founded
in 2012 and is headquartered in Southern California. FTGM owns and
operates a FINRA member broker-dealer, FinTech Clearing, LLC;
FlashFunders Shareholder Services, LLC, a SEC-registered transfer
agent; FlashFunders Funding Portal, LLC, a FINRA member funding
portal; and two investment advisors, Maco.la Management, Inc. and
Initiate Advisors. Through these subsidiaries, FTGM operates a
U.S.-based online securities platform whose underlying technology
and regulatory infrastructure are designed to enable issuers to
engage in Regulation D, Regulation A (known as Reg A+), Regulation
S, Regulation CF and fully registered S-1 and F-1 Initial Public
Offerings on NASDAQ in compliance with applicable federal, state
and non-U.S. securities laws. www.flashfunders.com
This press release is neither an offer to sell nor
a solicitation of an offer to buy any securities of the Company,
including without limitation the common stock nor shall such
securities be offered or sold in the United States absent
registration or an applicable exemption from registration, nor
shall there be any offer, solicitation or sale of any of the
Company's securities in any state or jurisdiction in which such
offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of such state or
jurisdiction.
Regulation A+ Offerings
An Offering Circular regarding Soliton, Inc.
(“Soliton”) has been filed with the Securities and Exchange
Commission (“SEC”). The SEC has qualified the Soliton Offering
Circular, which only means that we may make sales of the securities
described in its Offering Circular. It does not mean that the SEC
has approved, passed upon the merits, or passed upon the accuracy
or completeness of the information in Soliton’s Offering Circular.
You may obtain copies of the Offering Circular for Soliton here:
https://www.sec.gov/Archives/edgar/data/1548187/000162827918000315/soliton253g2.htm
Liquidity Risk-Regulation A+ Offerings
An investment in Soliton has a high degree of
risk, including, but not limited to, a small equity market
capitalization and lack of significant public float, which may
impair the liquidity of these investments. Soliton can make no
assurances about the success of its products, licensing or
marketing efforts; consequently, investors in Soliton may lose some
or all of their investments.
Safe Harbor Statement
The Company has made statements in this press
release that are considered "forward-looking statements" which are
usually identified by the use of words such as "anticipates,"
"believes," "estimates," "expects," "intends," "may," "plans,"
"projects," "seeks," "should," "will," and variations of such words
or similar expressions. All statements other than statements of
historical fact in this press release are forward-looking
statements, including but not limited to, the Company’s closing of
the IPO and the trading of the Company’s shares on NASDAQ. These
forward-looking statements reflect our current views about our
plans, intentions, expectations, strategies and prospects, which
are based on the information currently available to us and on
assumptions we have made. Although we believe that our plans,
intentions, expectations, strategies and prospects as reflected in
or suggested by those forward-looking statements are reasonable, we
can give no assurance that the plans, intentions, expectations or
strategies will be attained or achieved. Furthermore, actual
results may differ materially from those described in the
forward-looking statements and will be affected by a variety of
risks and factors that are beyond our control. For further
discussion of the factors that could affect outcomes, please refer
to the risk factors set forth in the "Risk Factors" section of the
Final Offering Circular. We assume no obligation to update publicly
any forward-looking statements, whether as a result of new
information, future events or circumstances, or changes in the
Company’s expectations, except as may be required by law. Although
the Company believes that the expectations expressed in these
forward-looking statements are reasonable, it cannot assure you
that such expectations will turn out to be correct, and the Company
cautions investors that actual results may differ materially from
the anticipated results.
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