Full Press Release Details
Lifesciences Announces Pricing of $3.0 Million Public Offering
Calif., Sept. 29, 2023 (GLOBE NEWSWIRE) -- ReShape Lifesciences (Nasdaq: RSLS), the premier physician-led weight loss
and metabolic health solutions company, today announced the pricing of its public offering of 9,100,000 units, with each unit consisting
of one share of common stock (or one pre-funded warrant to purchase one share of common stock in lieu thereof), and warrants to purchase
one and one half shares of common stock. Each unit is being sold at a public offering price of $0.33. The warrants will be immediately
exercisable at a price of $0.33 per share, subject to reduction as set forth in the warrants, and will expire five years from the date
of issuance. The shares of common stock (or pre-funded warrants in lieu thereof) and accompanying warrants can only be purchased together
in this offering, but will be issued separately and will be immediately separable upon issuance.
before deducting placement agent fees and other offering expenses, are expected to be approximately $3.0 million. The offering is
expected to close on October 3, 2023, subject to customary closing conditions.
LLC is acting as sole placement agent in connection with this offering.
Lifesciences has also agreed that certain existing warrants to purchase
up to an aggregate of 1,347,849.42 shares of common stock of the Company that were previously issued to an institutional investor will
be amended effective upon the closing of the offering so that the amended warrants will have an exercise price of $0.33.
described above are being offered pursuant to a registration statement on Form S-1, as amended (File No. 333-274227) (the "Registration
Statement"), which was declared effective by the Securities and Exchange Commission (the "SEC") on September 29,
2023. The offering is being made only by means of a prospectus which is a part of the Registration Statement. A preliminary prospectus
relating to the offering has been filed with the SEC. Copies of the final prospectus relating to this offering, when available, will
be filed with the SEC and may be obtained from Maxim Group LLC, 300 Park Avenue, 16th Floor, New York, NY 10022,
release shall not constitute an offer to sell or a solicitation of an offer to buy any of the securities described herein, nor shall there
be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to
the registration or qualification under the securities laws of any such state or other jurisdiction.
About ReShape Lifesciences
ReShape Lifesciences is America's
premier weight loss and metabolic health-solutions company, offering an integrated portfolio of proven products and services that manage
and treat obesity and metabolic disease. The FDA-approved Lap-Band System provides minimally invasive, long-term treatment
of obesity and is an alternative to more invasive surgical stapling procedures such as the gastric bypass or sleeve gastrectomy. ReShapeCare
is a virtual weight-management program that supports lifestyle changes for all weight loss patients led by board-certified health
coaches to help them keep the weight off over time. The recently launched ReShape Marketplace is an online collection
of quality wellness products curated for all consumers to help them achieve their health goals. The investigational Diabetes Bloc-Stim
Neuromodulation (DBSN ) system utilizes a proprietary vagus nerve block and stimulation technology
platform for the treatment of type 2 diabetes and metabolic disorders. The Obalon balloon technology is a non-surgical,
swallowable, gas-filled intra-gastric balloon that is designed to provide long-lasting weight loss. For more information, please visit
Forward-Looking Safe Harbor Statement
This press release may contain forward-looking
statements within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results could differ materially from those
discussed due to known and unknown risks, uncertainties, and other factors. These forward-looking statements generally can be identified
by the use of words such as "expect," "plan," "anticipate," "could," "may," "intend,"
"will," "continue," "future," other words of similar meaning and the use of future dates. Forward-looking
statements in this press release and other factors that may cause such differences include the satisfaction of customary closing conditions
related to the offering and the expected timing of the closing of the offering. These and additional risks and uncertainties are described
more fully in the company's filings with the Securities and Exchange Commission, including those factors identified as "risk factors"
in our most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q. We are providing this information
as of the date of this press release and do not undertake any obligation to update any forward-looking statements contained in this document
as a result of new information, future events or otherwise, except as required by law.
ReShape Lifesciences Investor Contact:
Chief Financial Officer
Investor Relations Contact:
Rx Communications Group