Full Press Release Details
Share Buyback Program
CO - April 11, 2022 - Zynex, Inc. (NASDAQ: ZYXI an innovative medical technology company specializing in the manufacture
and sale of non-invasive medical devices for pain management, rehabilitation and patient monitoring, today announced that its board of
directors approved a program to buy back $10.0 million of the Company's common stock. The program will commence on April 12, 2022 and
is scheduled to terminate on April 11, 2023 or when the $10.0 million buyback limit is reached.
In making the announcement, Zynex CEO Thomas Sandgaard stated, "We
are committed to delivering shareholder value, and this buyback program authorization reflects the board's confidence in both our short-term
prospects and our long term growth strategy. We believe that the current market value of our shares does not accurately reflect the underlying
value of the Company and the buyback program represents an attractive opportunity to deploy capital in a way that will benefit stockholders."
Under the share buyback program, buybacks may be made from time-to-time
in open market and negotiated purchases, effective immediately through the next twelve months. These buybacks will be made in compliance
with the SEC's Rule 10b-18, subject to market conditions, available liquidity, cash flow, applicable legal requirements and other
factors. The specific prices, numbers of shares and timing of purchase transactions will be determined by the Company from time to time
in its sole discretion. This program does not obligate the Company to acquire any particular amount of common stock and the
program may be suspended or discontinued at any time, including in the event the Company would be deemed to be making an acquisition of
its own shares under Rule 13e-3 of the Securities Exchange Act of 1934, as amended.
The Company expects to finance the purchases with existing cash
balances, which is not expected to have a material impact on capital levels.
Zynex, Inc. had approximately 41.5 million shares issued and 39.8 million
shares outstanding as of April 8, 2022.
founded in 1996, markets and sells its own design of electrotherapy medical devices used for pain management and rehabilitation as well
as developing noninvasive patient fluid, pulse oximetry and sepsis monitoring systems. For additional information, please visit: www.zynex.com.
Safe Harbor Statement
contains forward-looking statements within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform
Forward-looking statements
are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and
assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy
and other future conditions. Because forward-looking statements
relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and
many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the
forward-looking statements. Therefore you should not rely on any of these forward looking statements. The
Company makes no express or implied representation or warranty as to the completeness of forward-looking statements or, in the case of
projections, as to their attainability or the accuracy and completeness of the assumptions from which they are derived. Factors that could
cause actual results to materially differ from forward-looking statements include, but are not limited to, the need to obtain CE marking
of new products, the acceptance of new products as well as existing products by doctors and hospitals, larger competitors with greater
financial resources, the need to keep pace with technological changes, our dependence on the reimbursement for our products from health
insurance companies, our dependence on third party manufacturers to produce our products on time and to our specifications, implementation
of our sales strategy including a strong direct sales force, the impact of COVID-19 on the global economy and other risks described in
our filings with the Securities and Exchange Commission including but not limited to, our Annual Report on Form 10-K for the year ended December
31, 2021 as well as our quarterly reports on Form 10-Q and current reports on Form 8-K.
Any forward-looking statement
made by us in this release is based only on information currently available to us and speaks only as of the date on which it is made.
We undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time,
whether as a result of new information, future developments or otherwise.