DALLAS, June 7, 2017 /PRNewswire/ -- Nexeon MedSystems, Inc. ("Nexeon" or "Company"), an SEC full reporting global bioelectronics company commercializing advanced neurostimulation solutions, announced today that its Form S-1 resale registration statement ("S-1") filed on April 15, 2017, has been declared effective by the U.S. Securities and Exchange Commission. The S-1 registers 5,332,496 shares of the Company's common stock ("Common Shares") that are now eligible to be sold in the market by certain existing Company shareholders listed in the registration statement. The Company will open trading on the OTC Markets QX exchange once it receives a trading symbol from FINRA.
Chairman and CEO Will Rosellini said: "We are pleased to have aligned our capital strategy in a way that benefits our earliest shareholders, opens the investment opportunity to a more diversified investor pool, and allows for a more efficient pricing structure to existing and new shareholders as we prepare to begin trading on the OTC:QX in the near future."
Nexeon will not receive any proceeds from the sale of the common shares by the selling security holders. Upon the cash exercise of the warrants, Nexeon will receive the exercise price of the warrants.
Rosellini went on to note that he is not listed in the registration statement as a security holder that is participating in the resale of his Common Shares. He has indicated that he has no plans to sell any of his shares in the foreseeable future.
About Nexeon MedSystems, Inc: Nexeon Medsystems, Inc. is a global medical device company focused on providing innovative neurostimulation products that improve the quality-of-life of patients suffering from debilitating neurological diseases. Nexeon has developed and commercialized a neurostimulation system that can be utilized to treat a variety of neurological diseases.
Forward-Looking and Cautionary Statements: Statements in this press release that are not strictly historical may be "forward-looking" statements, which involve risks and uncertainties, and Nexeon undertakes no obligation to update any such statements to reflect later developments. These risks and uncertainties include Nexeon's ability to successfully complete on the terms and conditions contemplated, and the financial impact of, its strategic portfolio repositioning actions, as well as economic and currency conditions, market demand, pricing, protection of intellectual property, and competitive and technological factors, among others, as set forth in Nexeon's subsequent reports filed with the SEC.
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SOURCE Nexeon Medsystems, Inc.