Venus Concept Inc. Announces Review of Strategic Alternatives
January 24 2024 - 7:30AM
Venus Concept Inc. (“Venus Concept” or the “Company”) (NASDAQ:
VERO), a global medical aesthetic technology leader, announced
today that its Board of Directors (the “Board”) is evaluating
potential strategic alternatives to maximize shareholder value. As
part of the process, the Board is considering a full range of
strategic alternatives, which may include one or more financings,
mergers, reverse mergers, other business combinations, sales of
assets, licensings or other transactions.
The Company has retained Canaccord Genuity LLC
as its financial advisor to assist in evaluating potential
strategic alternatives. There can be no assurance that the
evaluation of strategic alternatives will result in any
transaction, nor can there be any assurance regarding any
transaction’s timing or ultimate outcome.
Venus Concept has not set a timetable for
completion of the process and does not intend to disclose
developments related to the process unless and until the Company
executes a definitive agreement with respect thereto, or the Board
otherwise determines that further disclosure is appropriate or
required.
Cautionary Statement Regarding
Forward-Looking Statements
This communication contains “forward-looking
statements” within the meaning of Section 27A of the Securities Act
of 1933, as amended and Section 21E of the Securities Exchange Act
of 1934, as amended. Any statements contained herein that are not
of historical facts may be deemed to be forward-looking statements.
In some cases, you can identify these statements by words such as
such as “anticipates,” “believes,” “plans,” “expects,” “projects,”
“future,” “intends,” “may,” “should,” “could,” “estimates,”
“predicts,” “potential,” and other similar expressions that are
predictions of or indicate future events and future trends. These
forward-looking statements include, but are not limited to,
statements about the Company's plans to evaluate strategic
alternatives, the nature of possible strategic alternatives, the
outcome and timing of any strategic alternative and disclosure of
updates regarding strategic alternatives. These forward-looking
statements are based on current expectations, estimates, and
projections about our business, future plans and strategies and the
industry in which the Company operates and management's beliefs and
assumptions and are not guarantees of future performance or
developments and involve known and unknown risks, uncertainties,
and other factors that are in some cases beyond our control. As a
result, any or all of our forward-looking statements in this
communication may turn out to be inaccurate. Factors that could
materially affect our business operations and financial performance
and condition include, but are not limited to, those risks and
uncertainties described under Part II Item 1A—“Risk Factors” in our
Quarterly Reports on Form 10-Q and Part I Item 1A—“Risk Factors” in
our Annual Report on Form 10-K for the fiscal year ended December
31, 2022. You are urged to consider these factors carefully in
evaluating the forward-looking statements and are cautioned not to
place undue reliance on the forward-looking statements. The
forward-looking statements are based on information available to us
as of the date of this communication. Unless required by law, the
Company does not intend to publicly update or revise any
forward-looking statements to reflect new information or future
events or otherwise.
About Venus Concept
Venus Concept is an innovative global medical
aesthetic technology leader with a broad product portfolio of
minimally invasive and non-invasive medical aesthetic and hair
restoration technologies and reach in over 60 countries and 12
direct markets. Venus Concept’s product portfolio consists of
aesthetic device platforms, including Venus Versa, Venus Legacy,
Venus Velocity, Venus Fiore, Venus Viva, Venus Glow, Venus Bliss,
Venus BlissMAX, Venus Epileve, Venus Viva MD and AI.ME. Venus
Concept’s hair restoration systems include NeoGraft® and the ARTAS
iX® Robotic Hair Restoration system. Venus Concept has been backed
by leading healthcare industry growth equity investors including EW
Healthcare Partners (formerly Essex Woodlands), HealthQuest
Capital, Longitude Capital Management, Aperture Venture Partners,
and Masters Special Situations.
Investor Relations Contact:
ICR Westwicke on behalf of Venus Concept:
Mike Piccinino, CFA
VenusConceptIR@westwicke.com
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