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 that its shares have commenced trading on the
Nasdaq Capital Market under the symbol “SOLY”. Soliton closed
its Regulation A+ Tier 2 offering (the "Offering") by selling
2,172,591shares of its common stock at the IPO price of $5.00 each,
resulting in aggregate gross proceeds of $10,862,955, before
deducting underwriting commissions and other related
expenses. Boustead Securities, LLC (“Boustead”) was the sole
underwriter of the Soliton initial public offering (“IPO”), the
California-based investment bank’s second Nasdaq IPO of 2019.
“We are thrilled to begin trading on Nasdaq,” said Soliton CEO
Chris Capelli. “The closing of Soliton’s IPO marks the
beginning of a new chapter for our company and its dedicated
investors, both long-term and those that have come on board in this
Nasdaq IPO. We will continue to push forward with our proprietary
technology for tattoo removal and for cellulite reduction by
completing further clinical and preclinical trials before bringing
the Soliton’s Rapid Acoustic Pulse (“RAP”) shockwave device to a
large addressable market,” Capelli stated.
“Congratulations to Soliton CEO Chris Capelli and the entire
Soliton team for a promising trading debut on Nasdaq,” said
Boustead’s Head of Equity Capital Markets, Dan McClory. “The
successful completion of the first Reg A+ IPO on Nasdaq or the NYSE
in over one year by any company is a particularly important
milestone, and it says a lot about the resilience and commitment of
Soliton, its investors, advisors, and underwriter,” McClory
concluded.
The Company intends to use the net proceeds of the IPO offering
primarily to develop and commercialize the RAP device; conduct
further 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
in conjunction 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. These clinical and preclinical trials
are in early stages and intended as a proof-of-concept and there
are no assurances that the trials 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, LLC. 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. 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.
CONTACT: Joe Dorame, Joe Diaz & Robert
Blum
Lytham Partners, LLC
602-889-9700
soly@lythampartners.com
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