UpHealth Announces Reverse Stock Split Will Effect Changes to Warrant Terms
December 07 2022 - 5:00PM
UpHealth, Inc. (“UpHealth” or the “Company”) (NYSE: UPH), a global
digital health company delivering technology platforms,
infrastructure, and services to modernize care delivery and health
management, today announced that the previously announced reverse
stock split of the Company’s issued and outstanding common stock
approved by its Board of Directors and the Company’s stockholders
on December 5, 2022 whereby each ten shares of common stock will be
combined and reconstituted into one share of common stock will
effect proportionate adjustments to its outstanding warrants.
The Company’s warrants, traded on the NYSE under
the symbol UPH.WS, will be reduced at a ratio of 1-for-10. The
exercise price of each warrant will increase from $11.50 per share
to $115.00 per share.
As previously announced, the reverse stock split
will become effective at 4:01 p.m., Eastern Time, on December 8,
2022, after close of trading on the New York Stock Exchange. As of
that time, each 10 shares of issued and outstanding common stock
will be converted into one share of common stock. The Company’s
common stock is expected to commence trading on a split-adjusted
basis when the markets open on December 9, 2022, under the existing
trading symbol “UPH.” The new CUSIP number for the Company’s common
stock following the reverse stock split will be 91532B200.
Additional information about the reverse stock
split can be found in the Company’s definitive proxy statement (the
“Proxy Statement”) filed with the Securities and Exchange
Commission (the “SEC”) on November 15, 2022, which is available
free of charge at the SEC’s website, www.sec.gov, and on the
Company’s website at https://uphealthinc.com.
About UpHealth, Inc.
UpHealth is a global digital health company that
delivers digital-first technology, infrastructure and services to
dramatically improve how healthcare is delivered and managed. The
UpHealth platform creates digitally enabled “care communities” that
improve access and achieve better patient outcomes at lower cost,
through digital health solutions and interoperability tools that
serve patients wherever they are, in their native language.
UpHealth’s clients include global governments, health plans,
healthcare providers and community-based organizations. For more
information, please visit https://uphealthinc.com and follow us at
@UpHealthInc on Twitter and UpHealth Inc on LinkedIn.
Forward-Looking Statements
This press release contains forward-looking
statements within the meaning of U.S. federal securities laws. Such
forward-looking statements include, but are not limited to,
statements regarding the reverse stock split and expectations with
respect to compliance with the New York Stock Exchange’s continued
listing standards. Any statements contained herein that are not
statements of historical fact may be deemed to be forward-looking
statements. In addition, any statements that refer to projections,
forecasts, or other characterizations of future events or
circumstances, including any underlying assumptions, are
forward-looking statements. The words “anticipate,” “believe,”
“continue,” “could,” “estimate,” “expect,” “intends,” “may,”
“might,” “plan,” “possible,” “potential,” “predict,” “project,”
“should,” “would” and similar expressions may identify
forward-looking statements, but the absence of these words does not
mean that a statement is not forward-looking. The forward-looking
statements contained in this press release are based on certain
assumptions and analyses made by the management of UpHealth in
light of their respective experience and perception of historical
trends, current conditions, and expected future developments and
their potential effects on UpHealth as well as other factors they
believe are appropriate in the circumstances. There can be no
assurance that future developments affecting UpHealth will be those
anticipated. These forward-looking statements involve a number of
risks, uncertainties (some of which are beyond the control of the
parties), or other assumptions that may cause actual results or
performance to be materially different from those expressed or
implied by these forward-looking statements, including market
conditions and their impact on the trading price of our common
stock on the New York Stock Exchange, other factors discussed in
the Proxy Statement, the mix of services utilized by UpHealth’s
customers and such customers’ needs for these services, market
acceptance of new service offerings, the ability of UpHealth to
expand what it does for existing customers as well as to add new
customers, that UpHealth will have sufficient capital to operate as
anticipated, and the impact that the novel coronavirus and the
illness, COVID-19, that it causes, as well as government responses
to deal with the spread of this illness and the reopening of
economies that have been closed as part of these responses, may
have on UpHealth’s operations, the demand for UpHealth’s products,
global supply chains and economic activity in general. Should one
or more of these risks or uncertainties materialize or should any
of the assumptions being made prove incorrect, actual results may
vary in material respects from those projected in these
forward-looking statements. We undertake no obligation to update or
revise any forward-looking statements, whether as a result of new
information, future events, or otherwise, except as may be required
under applicable securities laws.
Investor Relations:Shannon Devine (MZ North
America) Managing Director 203-741-8811UPH@mzgroup.us
Media:Edna Johnson (UpHealth,
Inc.)Chief Communications
Officer
mediarelations@uphealthinc.com
UpHealth (PK) (USOTC:UPHL)
Historical Stock Chart
From Jun 2024 to Jul 2024
UpHealth (PK) (USOTC:UPHL)
Historical Stock Chart
From Jul 2023 to Jul 2024