GI Dynamics Announces Results of Special Meeting
06 November 2018 - 2:32AM
Business Wire
GI Dynamics, Inc. (ASX:GID), a medical device company that is
developing EndoBarrier, held a Special Meeting on Monday, 29
October 2018 at 5:00pm United States Eastern Daylight Time (being
Tuesday, 30 October 2018 at 8:00am Australian Eastern Daylight
Time) and is pleased to announce that each of the resolutions put
to stockholders as set forth in the Proxy Statement dated 15
October 2018 (Proxy Statement), were passed.
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The information required under section 251AA of the Corporations
Act is attached.
As specified in the Proxy Statement, the Company notes that the
CDIs to be issued to Crystal Amber Fund Limited (or its nominee)
and certain sophisticated and professional investors in Australia
and the United States under the second tranche of the Placement
will be issued after receipt of all second tranche funds and will
rank equally in all respects with CDIs on issue at the date of
allotment.
About GI Dynamics
GI Dynamics Inc. (ASX: GID) is the developer of EndoBarrier, an
endoscopically delivered device therapy for the treatment of type 2
diabetes and obesity. EndoBarrier is not approved for sale and is
limited by federal law to investigative use only. Founded in 2003,
GI Dynamics is headquartered in Boston, Massachusetts. For more
information, please visit gidynamics.com.
Forward-Looking Statements
The announcement may contain forward-looking statements. These
statements are based on GI Dynamics management’s current estimates
and expectations of future events as of the date of this
announcement. Furthermore, the estimates are subject to several
risks and uncertainties that could cause actual results to differ
materially and adversely from those indicated in or implied by such
forward-looking statements.
These risks and uncertainties include, but are not limited to,
risks associated with our ability to continue to operate as a going
concern; our ability to raise sufficient additional funds to
continue operations and to conduct the planned clinical trial of
EndoBarrier in the United States (GID 18-1 Trial); our ability to
execute the GID 18-1 Trial under FDA IDE; our ability to enlist
clinical trial sites and enroll patients in accordance with the GID
18-1 Trial; the risk that the FDA stops the GID 18-1 Trial early as
a result of the occurrence of certain safety events or does not
approve an expansion of the GID 18-1 Trial; our ability to maintain
compliance with our obligations under our existing convertible note
and warrant agreements executed with Crystal Amber Fund Limited,
including our obligations to make payment on the relevant notes
that are due in December 2018; obtaining and maintaining regulatory
approvals required to market and sell our products; the possibility
that future clinical trials will not be successful or confirm
earlier results; the timing and costs of clinical trials; the
timing of regulatory submissions; the timing, receipt and
maintenance of regulatory approvals; the timing and amount of other
expenses; the timing and extent of third-party reimbursement;
intellectual-property risk; risks related to excess inventory;
risks related to assumptions regarding the size of the available
market; the benefits of our products; product pricing; timing of
product launches; future financial results; and other factors,
including those described in our filings with the U.S. Securities
and Exchange Commission.
Given these uncertainties, one should not place undue reliance
on these forward-looking statements. We do not assume any
obligation to publicly update or revise any forward-looking
statements, whether as a result of new information or future events
or otherwise, unless we are required to do so by law.
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Investor RelationsUnited States:GI Dynamics, Inc.Janell
Shields, +1 (781) 357-3280investor@gidynamics.com
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