NMI Health Completes Name Change and 1-for-10 Reverse Stock Split
FISHKILL, N.Y., June 11, 2013 /PRNewswire/ -- NMI Health Inc. (NMI or the Company) (OTCQB: NANMD), formerly known as Nano Mask Inc., today announced that its previously announced name change and 1-for-10 reverse stock split was declared effective as of June 5, 2013. The Company's stock is expected to trade under the ticker symbol NANMD until July 3 on the OTCQB, after which the "D" will be deleted from the symbol which will revert to its previous symbol NANM. The post-reverse split stock has a different CUSIP number.
As previously disclosed in an information statement filed with the Securities and Exchange Commission on April 9, 2013, the Company's Board of Directors, upon receiving shareholder approval, elected to effect a reverse stock split of the Company's common stock at a ratio of 1-for-10 and to change its name to NMI Health Inc. to better reflect the nature of its products and current business focus.
Every ten shares of the Company's issued and outstanding common stock have been converted into one issued and outstanding share of common stock. The par value per share remains unchanged at $ 0.001 per share, as has the number of shares of common stock authorized, which remains at 100,000,000. The number of shares of the Company's issued and outstanding common stock has been reduced to approximately 9,869,544. Any fractional shares have been rounded up to the next whole share. In addition, the reverse stock split will effect a proportionate adjustment to the per share exercise price and the number of shares issuable upon the exercise of all outstanding stock options and warrants to purchase or acquire shares of the Company's common stock.
Separately, NMI recently announced the recent completion of the U.S. launch of its SilverCare Plus® antimicrobial performance fabrics at the 40th annual Association for Professionals in Infection Control and Epidemiologist (APIC) Conference in Fort Lauderdale, Florida on June 8 -10th.
"Following an enthusiastic reception of the U.S. launch of our SilverCare suite of antimicrobial performance fabrics designed for the hospital and healthcare markets at the APIC conference this past weekend, we are optimistic that we will be able to generate significant in-country sales to supplement our international sales," said Edward J. Suydam, CEO, NMI.
Mr. Suydam went on to say, "We also expect to have both our corporate and e-Commerce websites up and running in the near future, and will keep shareholders apprised of further developments as they occur."
About NMI Health
NMI Health is a healthcare product development and distribution company providing innovative and cost effective emergency and critical care and infection control products to a variety of market segments within the healthcare industry. Our customers range from hospitals, emergency services, surgery centers, long-term care facilities, nursing homes and other clinical settings throughout the healthcare continuum. http://nmihealth.com
Safe Harbor Statement
This release may contain statements that are forward-looking. Such statements are made based upon current expectations that are subject to risk and uncertainty. NMI does not undertake to update forward-looking statements in this news release to reflect actual results of and changes in assumptions or changes in other factors affecting such forward-looking information. The actual future plans and results of the companies could differ significantly from such forward-looking statements.
For further information:
Ed Suydam, Chief Executive Officer, NMI
(914) 760-7857 firstname.lastname@example.org
SOURCE NMI Health Inc.