ENGLEWOOD, Colo., July 14, 2020 /PRNewswire/ -- Zynex, Inc.
("Zynex") (Nasdaq: ZYXI), an innovative medical technology company
specializing in manufacturing and selling non-invasive medical
devices for pain management, stroke rehabilitation, cardiac
monitoring and neurological diagnostics, announced today that it is
commencing an underwritten public offering of shares of its common
stock. Zynex and certain of its stockholders are proposing to sell
shares of its common stock in the proposed offering. In
addition, Zynex and the selling stockholders intend to grant the
underwriters a 30-day option to purchase additional shares of its
common stock at the public offering price, less the underwriting
discounts and commissions. The proposed offering is subject to
market and other conditions, and there can be no assurance as to
whether or when the offering may be completed, or the actual size
or terms of the offering.
Zynex intends to use the net proceeds from this proposed
offering to expand its sales force and marketing activities, launch
its blood volume monitor, as well as for working capital and other
general corporate purposes, including potential corporate, business
or market development activities. Zynex will not receive any
proceeds from the sale of the shares by the selling stockholders in
the proposed offering.
Piper Sandler & Co. is
acting as sole book-running manager of the proposed
offering.
The proposed offering will be made pursuant to the shelf
registration statement on Form S-3 (File No. 333-230128) that was
filed with the Securities and Exchange Commission (the "SEC") and
became effective on March 12, 2019,
and the shelf registration statement on Form S-3 (File No.
333-232367) that was filed with the SEC and became effective on
July 3, 2019, for the shares of
common stock being offered by Zynex and the selling stockholders,
respectively (together, the "registration statements"). The
proposed offering will be made only by means of written
prospectuses and prospectus supplements that form part of such
registration statements. Preliminary prospectus supplements and
accompanying prospectuses relating to and describing the terms of
the proposed offering have been filed with the SEC and are
available on the SEC's website at www.sec.gov. Copies of the
preliminary prospectus supplements and accompanying prospectuses
may also be obtained for free from the offices of Piper Sandler & Co., Attn: Prospectus
Department, 800 Nicollet Mall, J12S03, Minneapolis,
Minnesota 55402, by telephone at (800) 747-3924 or by email
at prospectus@psc.com.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy these securities, nor shall there
be any sale of these 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 any such
state or jurisdiction.
About Zynex
Zynex, founded in 1996, markets and sells its own design of
electrotherapy medical devices used for pain management and
rehabilitation. Zynex's proprietary NeuroMove device is designed to
help recovery of stroke and spinal cord injury patients. Zynex is
also developing a new blood volume monitor for use in hospitals and
surgery centers. For additional information, please
visit: Zynex.com.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of the safe harbor provisions of the U.S. Private
Securities Litigation Reform Act of 1995.
Forward-looking statements are neither historical facts nor
assurances of future performance. Instead, they are based only on
Zynex's current beliefs, expectations and assumptions regarding the
future of its business, future plans and strategies, projections,
forecasts, anticipated events and trends, the economy and other
future conditions. Because forward-looking statements
relate to the future, they are subject to inherent uncertainties,
risks and changes in circumstances that are difficult to predict
and many of which are outside of Zynex's control. Zynex's actual
results and financial condition may differ materially from those
indicated in the forward-looking statements. Therefore, you should
not rely on any of these forward-looking statements. Zynex
makes no express or implied representation or warranty as to the
completeness of forward-looking statements or, in the case of
projections, as to their attainability or the accuracy and
completeness of the assumptions from which they are derived.
Factors that could cause actual results to materially differ from
forward-looking statements include, but are not limited to, the
need to obtain CE marking of new products, the acceptance of new
products as well as existing products by doctors and hospitals,
larger competitors with greater financial resources, the need to
keep pace with technological changes, Zynex's dependence on the
reimbursement for its products from health insurance companies,
Zynex's dependence on third party manufacturers to produce its
goods on time and to its specifications, implementation of Zynex's
sales strategy including a strong direct sales force, the impact of
COVID-19 on the global economy and other risks described in Zynex's
filings with the SEC, including its Annual Report on Form 10-K for
the year ended December 31, 2019 as well as its quarterly
reports on Form 10-Q and current reports on Form 8-K.
Any forward-looking statement made by Zynex in this press
release is based only on information currently available to Zynex
and speaks only as of the date on which it is made. Zynex
undertakes no obligation to publicly update any forward-looking
statement, whether written or oral, that may be made from time to
time, whether as a result of new information, future developments
or otherwise.
Contact
Zynex, Inc.
(303) 703-4906
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SOURCE Zynex