Amedica Announces Reverse Stock Split
11 November 2017 - 1:00AM
Amedica Corporation (Nasdaq:AMDA), an innovative biomaterial
company that develops and manufactures silicon nitride as a
platform for biomedical applications, today announced a 1-for-12
reverse stock split of its issued and outstanding common stock. The
Company’s common stock will open for trading on a split-adjusted
basis on Friday, November 10, 2017 (the "Effective Time").
The split-adjusted shares of Amedica's common stock will continue
trading on the Nasdaq Capital Market under the Company's existing
symbol "AMDA." A new CUSIP number of 023435407 has been
assigned to the Company's common stock as a result of the reverse
split.
The reverse stock split will reduce the number
of shares of common stock outstanding from approximately 36,264,881
million to approximately 3,022,073 million upon commencement of
trading on the Effective Time. The reverse stock split
affects all issued and outstanding shares of the Company's common
stock immediately prior to the Effective Time of the reverse stock
split. The number of authorized shares of the Company's common
stock will remain unchanged.
American Stock Transfer and Trust Company,
Amedica's transfer agent, will instruct certificate shareholders on
the exchange process once the reverse stock split takes
effect. Shareholders holding their shares in book-entry form
or in brokerage accounts need not take any action in connection
with the reverse stock split. Beneficial holders are
encouraged to contact their bank, broker or custodian with any
procedural questions. No fractional shares will be
issued. Stockholders who otherwise would be entitled to
receive fractional shares because they hold a number of shares not
evenly divisible by 12, will automatically receive one whole share
of common stock in lieu of the fractional share. No stockholders
will receive cash in lieu of fractional shares.
About Amedica Corporation
Amedica is focused on the development and
application of spinal interbody implants made with medical-grade
silicon nitride ceramic. Amedica markets spinal fusion products and
is developing implants for other biomedical applications, such as
wear- and corrosion-resistant hip and knee bearings, and dental
implants. The Company’s products are manufactured in its ISO 13485
certified manufacturing facility, and it has a partnership with
Kyocera, one of the world’s largest ceramic manufacturers.
Amedica’s FDA-cleared and CE-marked spine products are currently
marketed in the U.S. and select markets in Europe and South America
through its distributor network, and OEM and private label
partnerships.
For more information on Amedica
or its silicon nitride material platform, please visit
www.amedica.com.
Forward-Looking Statements
This press release contains statements that
constitute forward-looking statements within the meaning of the
Securities Act of 1933 and the Securities Exchange Act of 1934, as
amended by the Private Securities Litigation Reform Act of 1995.
Such statements are subject to risks and uncertainties that could
cause actual results to differ materially from those contemplated
within this press release. A discussion of those risks and
uncertainties can be found in Amedica’s Risk Factors disclosure in
its Annual Report on Form 10-K, filed with the Securities and
Exchange Commission (SEC) on September 20, 2017, and in Amedica’s
other filings with the SEC. Amedica disclaims any obligation to
update any forward-looking statements.
Contacts:
Amedica IR
801-839-3502
IR@amedica.com
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