ENGLEWOOD, Colo., May 3, 2023
/PRNewswire/ -- Zynex, Inc. ("Zynex" or "the Company") (Nasdaq:
ZYXI), today announced the commencement of an underwritten public
offering of 2,000,000 shares of its common stock by Thomas Sandgaard, its Chief Executive Officer
(the "Secondary Offering"). Mr. Sandgaard also intends to
grant the underwriter a 30-day option to purchase up to an
additional 300,000 shares of the Company's common stock. The
Secondary Offering is subject to market and other conditions, and
there can be no assurance as to whether or when the Secondary
Offering may be completed. Zynex will not receive any of the
proceeds from the Secondary Offering and Zynex will bear the costs
associated with the Secondary Offering, except for underwriting
discounts and commissions.
Concurrently with the Secondary Offering, Zynex is offering to
qualified institutional buyers $50.0
million aggregate principal amount of convertible senior
notes due 2026 (the "Notes") in an offering exempt from
registration under the Securities Act of 1933, as amended (the
"Notes Offering"). Zynex also intends to grant the initial
purchaser of the Notes an option to purchase, for settlement within
a 13-day period beginning on, and including, the date on which the
Notes are first issued, up to an additional $7.5 million aggregate principal amount of Notes.
The Secondary Offering is not contingent upon the consummation of
the Notes Offering, and the Notes Offering is not contingent upon
the consummation of the Secondary Offering.
RBC Capital Markets is acting as the sole book-running manager
of the Secondary Offering.
The Secondary Offering will be made pursuant to the shelf
registration statement on Form S-3 (File No. 333-232367) that was
filed with the Securities and Exchange Commission (the "SEC") and
became effective on July 3, 2019 (the
"registration statement"). The Secondary Offering will be made only
by means of a written prospectus and prospectus supplement that
forms part of such registration statement. A preliminary prospectus
supplement and the accompanying prospectus relating to and
describing the terms of the Secondary Offering have been filed with
the SEC and are available on the SEC's website at www.sec.gov.
Copies of the preliminary prospectus supplement and the
accompanying prospectus, as well as the final prospectus
supplement, when available, may also be obtained by contacting RBC
Capital Markets, LLC, Attention: Equity Capital Markets, 200 Vesey
Street, New York, NY 10281, by
telephone at 877-822-4089 or by email at
equityprospectus@rbccm.com.
This press release is neither an offer to sell nor a
solicitation of an offer to buy any of these securities nor shall
there be any sale of these securities in any state or jurisdiction
in which such an offer, solicitation or sale would be unlawful
prior to the registration or qualification thereof under the
securities laws of any such state or jurisdiction.
Forward-Looking Statements
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. Zynex 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 Conformité
Européenne 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, 2022, as well as our quarterly
reports on Form 10-Q and our current reports on Form 8-K.
Any forward-looking statement made by us in this press 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.
About Zynex
Zynex, founded in 1996, develops, manufactures, markets, and
sells medical devices used for pain management and rehabilitation
as well as non-invasive fluid, sepsis, and laser-based pulse
oximetry monitoring systems for use in hospitals.
Contact: Zynex, Inc. (800) 495-6670
Investor Relations Contact:
Gilmartin Group
Investor Relations Counsel
ir@zynex.com
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SOURCE Zynex