HOUSTON, April 5,
2024 /PRNewswire/ -- Nutex Health Inc. ("Nutex
Health" or the "Company") (NASDAQ: NUTX), today announced a
1-for-15 reverse stock split of its common stock effective with the
market opening on Tuesday April 10,
2024.
The reverse stock split will take legal effect at 11:59pm Eastern Time on April 9, 2024, and the Company's common stock
will open for trading on The Nasdaq Capital Market on April 10, 2024 on a post-split basis, under the
existing ticker symbol "NUTX" but with new CUSIP number 67079U207.
The reverse stock split is part of the Company's plan to regain
compliance with the minimum bid price requirement for the continued
listing on The Nasdaq Capital Market.
The reverse split was authorized by the Company's shareholders
on June 29, 2023, granting the
Company's Board of Directors (the "Board") the discretion to
determine the timing and ratio of the split within a range of 1-2
and 1-15. The Board has now decided on the 1-for-15 ratio and will
amend the Company's Amended and Restated Certificate of
Incorporation to reflect this change.
As a result of the reverse stock split, every fifteen shares of
the Company's common stock issued and outstanding prior to the
opening of trading on April 10, 2024
will be consolidated into one issued and outstanding share, with no
change in the nominal par value per share of $0.001. No fractional shares will be issued
as a result of the reverse stock split. Stockholders of
record who would otherwise be entitled to receive a fractional
share will be entitled to the rounding up of the fractional share
to the nearest whole number.
As a result of the reverse stock split, the number of common
shares outstanding will be reduced from approximately 745 million
shares to approximately 50 million shares, and the number of
authorized shares of common stock will remain at 950 million
shares. In addition, the number of shares reserved for
issuance under the Company's equity compensation plan immediately
prior to the reverse stock split will be reduced
proportionately. Adjustments will also be made to the
Company's outstanding warrants and stock options. The number of
shares into which these securities are convertible or exercisable
will be adjusted in line with the reverse split, as will the
exercise prices of these securities.
About Nutex Health Inc.
Headquartered in Houston, Texas
and founded in 2011, Nutex Health Inc. (NASDAQ: NUTX) is a
physician-led, technology-enabled integrated healthcare delivery
system comprised of 21 state-of-the-art micro hospitals in eight
states and primary care-centric, risk-bearing physician networks
with two divisions: a Hospital Division and a Population Health
Management Division.
The Hospital Division owns, develops and operates innovative
health care models, including micro-hospitals, specialty hospitals,
and hospital outpatient departments (HOPDs). This division owns and
operates 21 facilities in nine states.
The Population Health Management division owns and operates
provider networks such as Independent Physician Associations
(IPAs). Through our Management Services Organization (MSO), we
provide management, administrative and other support services to
our affiliated hospitals and physician groups. Our
cloud-based proprietary technology platform aggregates clinical and
claims data across multiple settings, information systems and
sources to create a holistic view of patients and providers,
allowing us to deliver greater quality care more
efficiently.
Forward-Looking Statements
Certain statements and information included in this press
release constitute "forward-looking statements" within the meaning
of the Private Securities Litigation Act of 1995. When used in this
press release, the words or phrases "will", "will likely result,"
"expected to," "will continue," "anticipated," "estimate,"
"projected," "intend," "goal," or similar expressions are intended
to identify "forward-looking statements" within the meaning of the
Private Securities Litigation Reform Act of 1995. Such statements
are subject to certain risks, known and unknown, and uncertainties,
many of which are beyond the control of the Company. Such
uncertainties and risks include, but are not limited to, our
ability to successfully execute our growth strategy, changes in
laws or regulations, including the interim final and final rules
implemented under the No Surprises Act, economic conditions,
dependence on management, dilution to stockholders, lack of
capital, the effects of rapid growth upon the Company and the
ability of management to effectively respond to the growth and
demand for products and services of the Company, newly developing
technologies, the Company's ability to compete, conflicts of
interest in related party transactions, regulatory matters,
protection of technology, lack of industry standards, the effects
of competition and the ability of the Company to obtain future
financing. An extensive list of factors that can affect future
results are discussed in our Annual Report on Form 10-K for the
year ended December 31, 2023 under
the heading "Risk Factors" in Part I, Item IA thereof, and other
documents filed from time to time with the Securities and Exchange
Commission. Such factors could materially adversely affect the
Company's financial performance and could cause the Company's
actual results for future periods to differ materially from any
opinions or statements expressed within this press release.
View original
content:https://www.prnewswire.com/news-releases/nutex-health-announces-1-for-15-reverse-stock-split-302108960.html
SOURCE Nutex Health, Inc.