MIMEDX Announces Effectiveness of Shelf Registration Statement
MARIETTA, Ga., Sept. 08, 2021 (GLOBE NEWSWIRE) -- MiMedx Group, Inc. (Nasdaq: MDXG) (“MIMEDX” or the “Company”), an industry leader in utilizing amniotic tissue as a platform for regenerative medicine, today announced the shelf registration statement on Form S-3 on file with the Securities and Exchange Commission (SEC) has become effective. The shelf registration statement allows the Company to sell up to $350 million of various types of securities over the next three years.
The specifics of any future offering, along with the prices and terms of any such securities and the use of proceeds of a particular offering, will be determined at the time of any such offering and will be described in a prospectus supplement filed in connection with such offering. Any offering of the securities will be made solely by means of a prospectus and an accompanying prospectus supplement relating to that offering. A copy of the prospectus included in the registration statement may be obtained on the SEC’s website at www.sec.gov.
This news release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale, of the securities in any province, state, or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to qualification or registration of such securities under the securities laws of any such jurisdiction.
Important Cautionary Statement
The Company continues to intend to announce in late summer top-line results of its Phase 2B clinical trial of micronized dehydrated human amnion chorion membrane (mdHACM) for the treatment of knee osteoarthritis pain and its Phase 3 clinical trial of mdHACM for the treatment of plantar fasciitis. No inference should be drawn from the effectiveness of the shelf registration statement with respect to the unannounced results of those clinical trials.
This press release includes forward-looking statements. Statements regarding potential SEC approval of the shelf registration statement, potential securities issuances, and the results of clinical trials are forward-looking statements. Additional forward-looking statements may be identified by words such as "believe," "expect," "may," "plan," “goal,” “outlook,” "potential," "will," "preliminary," and similar expressions, and are based on management's current beliefs and expectations. Forward-looking statements are subject to risks and uncertainties, and the Company cautions investors against placing undue reliance on such statements. Actual results may differ materially from those set forth in the forward-looking statements. Factors that could cause actual results to differ from expectations include: administrative delays could affect our ability to obtain SEC approval of the shelf registration statement; our stock price and market conditions may affect our ability to access the capital markets; and clinical trial results are uncertain and depend upon a number of factors. We describe additional risks and uncertainties in the Risk Factors section of our most recent annual report and quarterly reports filed with the Securities and Exchange Commission. Any forward-looking statements speak only as of the date of this press release and the Company assumes no obligation to update any forward-looking statement.
MIMEDX is an industry leader in utilizing amniotic tissue as a platform for regenerative medicine, developing and distributing placental tissue allografts with patent-protected, proprietary processes for multiple sectors of healthcare. As a pioneer in placental biologics, we have both a base business, focused on addressing the needs of patients with acute and chronic non-healing wounds, and a promising late-stage pipeline targeted at decreasing pain and improving function for patients with degenerative musculoskeletal conditions. We derive our products from human placental tissues and process these tissues using our proprietary methods, including the PURION® process. We employ Current Good Tissue Practices, Current Good Manufacturing Practices, and terminal sterilization to produce our allografts. MIMEDX has supplied over two million allografts, through both direct and consignment shipments. For additional information, please visit www.mimedx.com.
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